Based on preliminary reporting, Solar increases guidance for 2021 EBITDA to
Moreover, we are increasing revenue guidance by
CEO
"Six months into our Core+ strategy, the result continues to exceed our expectations. We have achieved a continuous positive development of our concept share, which in combination with stronger growth than anticipated in all markets contributes to a strong result.
Furthermore, we have experienced extraordinary price increases on certain products due to increasing commodity prices. These extraordinary price increases have resulted in a positive one-off impact of approx.
Q2 key financial messages
- With 8.6% in organic growth, we realised stronger growth rates than anticipated in all markets.
- Project Better Business and a strong ongoing development in concept sales contributed to a gross profit margin of 22.0%. The gross profit margin increase attributes to all markets.
- Extraordinary price increases resulted in a positive one-off impact of approx.
DKK 30m of the gross profit, equal to a gross profit margin improvement of approx. 1%-point.
Financial highlights (DKK million) | Q2 2021 | Q2 2020 | H1 2021 | H1 2020 |
Revenue | 3,098 | 2,745 | 6,102 | 5,790 |
Gross profit | 681 | 562 | 1,339 | 1,185 |
EBITDA | 211 | 127 | 415 | 269 |
EBITA | 166 | 81 | 323 | 178 |
EBIT | 153 | 65 | 296 | 147 |
Financial ratios (%) | ||||
Organic growth adj. | 8.6 | -1.6 | 3.8 | 0.0 |
Gross profit margin | 22.0 | 20.5 | 21.9 | 20.5 |
EBITDA margin | 6.8 | 4.6 | 6.8 | 4.6 |
Guidance 2021
Guidance overview (DKK million) | Updated guidance | Latest guidance |
Revenue | 12,100 | 11,750 |
EBITDA | 825 | 725 |
Revenue guidance
We now expect revenue at
EBITDA guidance
We expect the strategic focuses to deliver continuous improvements in earnings, delivering an EBITDA of
Contacts
CEO
CFO
IR Director
FACTS ABOUT SOLAR
Solar is a leading European sourcing and services company mainly within electrical, heating and plumbing, ventilation and climate and 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. 15 2021 Solar increases its guidance for 2021
© OMX, source