Strategy

Solar prepared a refreshed strategy for the period 2010-2015. This group strategy is designed to ensure improved financial performance and continued advancement of the group’s position as a technical wholesaler in a challenging market.

 Five strategic focus areas are in scope for the strategy period 2013-2015:
• Keep strengthening our position as one of Northern Europe's leading technical wholesalers within electrical, heating, plumbing and ventilation components. This requires a dedicated business model.
• Increase productivity by focusing on business acumen as well as simplification, standardisation and digitalisation in our daily operations. This will increase productivity both internally and throughout the value chain.
• Create a more proactive sales organisation using standardised processes with clearly defined roles and responsibilities. Moreover, improve our ability to deliver both physical and non-physical products (Solar Services).
• Capture organic growth opportunities by increasing our focus on the climate and energy segments by expanding our product and service offers and increasing our energy competences.
• Train our sales force in proactive selling, secure general career development within Solar, and launch an Employer Branding concept to promote Solar as an attractive employer.

Financial objectives for 2013-2015

EBITA margin		2015		4.5%
ROIC excl. amortisation		2015		>14%
NWC/revenue LTM		2015		<13%
Equity ratio		2013-2015		35-40%
Gearing		2013-2015		1.5-2.5x
Dividend yield (PAT)		2013-2015		35-45%

Prerequisites: Average growth exceeding 3% for this period and stabilisation of the Dutch market in 2013.