Based on preliminary reporting, Solar increases its guidance for 2021 EBITDA to
Moreover, we are increasing revenue guidance by
CEO
"Q3 has been a continuation of the strong growth rates we saw in Q2. Our Core+ strategy continues to exceed expectations by among other things increasing our Concept and Industry business - with Industry delivering all-time high growth in September.
Furthermore, we expect the strong demand experienced in Q3 to continue in Q4. This also applies to price effects that we estimate will have a total one-off impact of
Q3 key financial messages
- With 8.8% organic growth, we realised stronger growth rates than anticipated in all markets.
- The growth was supported by our four strategic focus areas Concepts, Industry, Climate & Energy and Trade.
- One-off price effects resulted in an impact of approx.
DKK 50m on gross profit.
Financial highlights (DKK million) | Q3 2021 | Q3 2020 | Q1-Q3 2021 | Q1-Q3 2020 |
Revenue | 2,872 | 2,618 | 8,974 | 8,408 |
Gross profit | 660 | 563 | 1,999 | 1,748 |
EBITDA | 237 | 177 | 652 | 446 |
EBITA | 192 | 132 | 515 | 310 |
EBIT | 179 | 115 | 475 | 262 |
Financial ratios (%) | ||||
Organic growth adj. | 8.8 | -4.8 | 5.4 | -0.8 |
Gross profit margin | 23.0 | 21.5 | 22.3 | 20.8 |
EBITDA margin | 8.3 | 6.8 | 7.3 | 5.3 |
Guidance 2021
Guidance overview (DKK million) | Updated guidance | Latest guidance |
Revenue | 12,300 | 12,100 |
EBITDA | 900 | 825 |
Revenue guidance
We now expect revenue at
EBITDA guidance
Supported by increased demand we expect the strategic focus areas to deliver continuous improvements in earnings, resulting in an EBITDA of
Contacts
CEO
CFO
IR Director
FACTS ABOUT SOLAR
Solar is a leading European sourcing and services company mainly within electrical, heating & plumbing and climate & energy solutions. Our core business centres on product sourcing, value-adding services and optimisation of our customers’ businesses.
We facilitate efficiency improvement and provide digital tools that turn our customers into winners. We drive the green transition and provide best in class solutions to ensure sustainable use of resources.
Disclaimer
This announcement was published in Danish and English today via Nasdaq Copenhagen. In the event of any inconsistency between the two versions, the Danish version shall prevail.
Attachment
- No. 18 2021 Solar increases its guidance for 2021
© OMX, source