Solar boosts quarterly profits

Solar A/S, headquartered in Kolding, Denmark, operates under a clear growth strategy. Matching this, the company generated organic growth of 5.7% at group level in Q1.

The resulting revenue of close to DKK 3.2bn. (€ 428.9m) and earnings before tax of approx. DKK 41m (€ 5.5m) are much better results than those generated in the same period last year.

Being a listed company, Solar works strategically to gain the position as the leading technical wholesaler. Efforts include an expansion of the product range and the addition of technical competences within both electrical, heating, plumbing and ventilation products. Energy optimisation is also a key field of business.

- We will be promoting our Blue Energy concept of energy-efficient solutions even more from Q2 onwards. Already, we have sent a Blue Energy truck on tour to showcase the latest products and technologies. This truck will visit 100 destinations in five countries: Denmark, Sweden, Norway, Germany and the Netherlands over a six-month period, says Group CEO Flemming H. Tomdrup.

In this Blue Energy truck, Solar is able to demonstrate specifically how innovative contractors can exploit the business potential of energy-efficient fittings in future. In Denmark, 1,400 contractors visited the truck which has now gone on to Sweden.

- We want to broaden knowledge of energy optimisation and promote both the environmental and financial potential here, emphasises Group CEO Flemming H. Tomdrup.

Business expectations
Solar expects the business areas renewable energy, lighting, utilities and infrastructure to return positive growth rates in 2012. However, there is a risk of more traditional and large areas relating to new construction, such as installation equipment and cables, generating negative growth.

- In addition, we expect sales of industrial components to increase slightly. The market for energy optimisation in existing buildings is expected to develop favourably, concludes Group CEO Flemming H. Tomdrup.

For further comments, please contact:
Group CEO Flemming H. Tomdrup - tel. +45 7930 0201
Group CFO Michael H. Jeppesen - tel. +45 7930 0262
Corporate IR & Communications Manager Charlotte Risskov Kræfting – mobile +45 4034 2908

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