Strategy 2021-2023

Strategic focus areas for profitable growth

Click here to read strategy section from Annual Report 2020

With Core+, we will focus the Digital and Green trends on four strategic areas, where we have a solid track record and see further opportunities for profitable growth in the years to come.

 

Industry and Trade are distinct segments, while Concepts and Climate & Energy are strategic drivers in the Installation, Industry and Trade segments.

 

Digital and Green investments and initiatives shape the operating plans for each of the four strategic focus areas.

 

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Ambitions for 2023

Our CORE+ strategy derives from the winning aspiration to be a leading green and digital sourcing and services company in our industry.

We want to develop Solar in a profitable way by focusing on key markets, building around our four strategic focus areas and deploying the core capabilities embedded in a strong and agile operating model.

GROUP: FINANCIAL TARGETS

  • EBITDA margin above 6%, corresponding to a ROIC above 17% after tax
  • Gearing (NIBD/EBITDA) 1.5-3.0


GROUP: NON FINANCIAL TARGETS

  • E-business share of 70%, corresponding to almost DKK 8bn
  • Complete the training of 2,000 participants in renewable solutions at our Solar School


ESG

  • Increase gender diversity at management level
  • All electricity for Solar's own buildings will be from renewable sources
  • Install PV equipment at all Solar-owned sites and EV chargers at all major Solar sites
  • Further ESG targets will be launched during 2021

CONCEPTS

  • 25% share of core revenue

 

CLIMATE & ENERGY

  • Revenue CAGR of 5% for the strategic period

 

INDUSTRY

  • 30% share of core revenue

 

TRADE

  • Revenue CAGR of 5% for the strategic period
CORE+ A digital and green strategy

With our new strategy CORE+, we continue our determined focus on Concepts and on Industry as well as strengthen our efforts within Climate & Energy solutions and the customer segment we now call Trade. With a digital and green mindset we will help our customers to be productive in a more sustainable way.

Annual Report 2020
CASE: Concepts New lighting improves safety

When the world’s second largest aluminum producer, Alcoa, needed a new lighting solution, Solar Light was the ideal choice. The end result provides better and safer working conditions for all employees on site.

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Case: Climate & Energy Installing heat pumps reduces CO2 emissions

Danish concrete producer Boligbeton’s ambition is to reduce CO₂ emissions significantly. Therefore, they have decided to replace all oil and gas heating with greener alternatives. Alongside Solar, they have found the right solution, which will ensure sustainable energy, a comfortable indoor climate and better business.

Read the case
Case: INDUSTRY When one supplier is enough

The Danish food manufacturer, Flensted, has optimised its sourcing setup in partnership with Solar. Making Total Cost of Ownership (TCO) visible has led to more transparency and tighter control.

Read the case

The story of Solar

Growth has been at the core of our strategy since our very foundation in 1919. Learn more about our journey here

Read our story

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