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No. 13 2021 Quarterly Report Q1 2021

Announcement 13 2021    ·    6. May, 2021

Solar delivered an EBITDA increase of 44% in Q1. In April, revenue and EBITDA guidance were revised upwards by DKK 200m and DKK 75m to DKK 11,750m and DKK 725m, respectively.

CEO Jens Andersen says:
"2021 is off to a good start with revenue and EBITDA exceeding our expectations.

We have seen the first impact of the new Core+ strategy, which we introduced in February. In Q1, the gross profit margin has shown strong performance across our markets driven by the Better Business project and the positive development in concept sales. At the same time, we maintained focus on cost containment.

Finally the Board of Directors has decided to distribute an extraordinary dividend of DKK 15.00 per share.”

Q1 key financial messages

  • EBITDA margin up by 2.1%-points
  • Net working capital down by 0.6%-points
  • 2021 guidance: Revenue of DKK 11,750m and EBITDA of DKK 725m
Financial highlights (DKK million)Q1 2021Q1 2020
Cash flow from operating activities-88-43
Financial ratios (%)  
Organic growth adj. for number of working days-0.61.4
EBITDA margin6.84.7
Net working capital, period-end/revenue (LTM)11.412.0
Gearing (NIBD/EBITDA), no. of times0.71.9


Audio webcast and teleconference today

The presentation of Quarterly Report Q1 2021 will be made in English on 6 May 2021 at 11:00 CET. The presentation will be transmitted as an audio webcast and will be available at Participation will be possible via a teleconference.

Teleconference call-in numbers:

DK: tel. +45 787 232 52
UK: tel. +44 333 300 9264
US: tel. +1 833 526 8397





CEO Jens Andersen - tel. +45 79 30 02 01
CFO Michael H. Jeppesen - tel. +45 79 30 02 62
IR Director Dennis Callesen - tel. +45 29 92 18 11



Dennis CallesenInvestor Relations Director