Solar A/S defies the financial crisis by reaching the 2009 revenue targets. Thus, the group based in Kolding, Denmark, has traded for DKK 10.7bn (€ 1,431m) and achieved profit before tax of DKK 126.7m (€ 17m).
In addition, the group has presented an ambitious new strategy for 2010-2015. A strategy aimed at strengthening performance and securing the group a position as the preferred technical wholesaler.
Solar A/S defies the financial crisis by reaching the 2009 revenue targets. Thus, the group based in Kolding, Denmark, has traded for DKK 10.7bn (€ 1,431m) and achieved profit before tax of DKK 126.7m (€ 17m).
In addition, the group has presented an ambitious new strategy for 2010-2015. A strategy aimed at strengthening performance and securing the group a position as the preferred technical wholesaler.
The aim is to exceed general market performance while, at the same time, becoming the leading technical wholesaler by continuing the expansion of Solar's product range and technical competences within electrical, heating, plumbing and ventilation products in the four key markets of Denmark, the Netherlands, Sweden and Norway.
To further lift organic growth, the group will increase focus on the business areas climate and energy efficiency, facility management, utility and infrastructure by expanding the product and service offers aimed at these segments. Here, we will utilise synergies from the new knowledge centre on alternative energy sources, Solar Explorium, in Vejen, Denmark.
As requirements to halve energy consumption in new builds and major extensions increase over the coming years, Solar Explorium lets customers and other interested parties experience fully integrated energy solutions. These solutions halve energy consumption compared to traditional solutions while increasing comfort and flexibility. The building housing Solar Explorium is labelled a low-energy class 1 build, meaning that it fully meets requirements that will not become legally effective until 2015.
Meanwhile, we will continue our adoption of Lean as the leading culture within the Solar Group. All Solar enterprises have met the stated objectives of having introduced Lean activities and defined a two to three year Lean master plan before 2010. Certainly, results remain impressive in those of our enterprises where Lean has been running for some years, showing greater employee satisfaction, efficiency and quality, and less waste. Also, we have seen a measurably improvement in leadership among managers who have worked with Lean for the last few years.
- Solar has managed to act as a strong, flexible and dynamic business in a market under pressure. We have spent our time wisely on restructuring measures, making us ready for a coming market upturn. And we have managed to make money at the same time while weathering the greatest crisis of our time, says CEO Flemming H. Tomdrup.
CEO Flemming H. Tomdrup is available for further comment on mobile +45 4034 2900.
Corporate IR & Communications Manager Charlotte Risskov Kræfting is available on mobile +45 4034 2908.
Solar A/S (formerly Aktieselskabet Nordisk Solar Compagni) was established in 1919 and listed on the Copenhagen Stock Exchange in 1953. Solar is one of Northern Europe's leading wholesalers within electrical, heating, plumbing and ventilation products. The group based in Kolding, Denmark, has enterprises in Denmark incl. the Faroes, Sweden, Norway, the Netherlands, Germany and Poland. Solar is Denmark's 41st largest company measured by revenue and has 3000 employees in total. Measured by number of employees, Denmark is the group's largest enterprise, representing 29% of staff, while the Netherlands is now our largest foreign subsidiary, representing 24% of staff.
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