Solar A/S: Solar divests its shareholding in BIMobject AB
October 09, 2020 at 04:25 am EDT
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2020 · 8. October, 2020
Today, Solar A/S announces the divestment of its shareholding in BIMobject for a total cash consideration of SEK 331m (approx. DKK 234m).
The profit from the divestment amounts to approx. DKK 20m, which will be recognised in the income statement as 'Impairment on associates' in Solar's Q4 report.
The profit is based on a book value of approx. DKK 214m as at 30 September 2020. In H1 2017, the shares were acquired at DKK 172m.
The profit does not affect Solar's EBITA or guidance for 2020.
Yours sincerely,
Solar A/S
Jens Andersen
Contacts
CEO Jens Andersen - tel. +45 79 30 02 01
CFO Michael H. Jeppesen - tel. +45 79 30 02 62
CCO Hugo Dorph - tel. +45 28 72 00 80
Investor Relations Director Dennis Callesen - tel. +45 29 92 18 11
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.
Solar Group is headquartered in Denmark, generated revenue of approx. DKK 11.7bn in 2019 and has approx. 3,000 employees. Solar is listed on Nasdaq Copenhagen and operates under the short designation SOLAR B. For more information, please visit www.solar.eu.
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.
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No. 16 2020 Solar divests its shareholding in BIMobject AB
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+4529921811@deca@solar.dk
Dennis CallesenDirector, Stakeholder Relations
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Solar A/S published this content on 08 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 09 October 2020 08:24:08 UTC
Solar A/S is a Denmark-based company engaged in the distribution of electrical, heating, plumbing and ventilation components. The Companyâs sales are divided into industry segment and contractor segment. The Company offers, among others, lightning, boilers and radiators, water heaters, heat pumps, switches and socket outlets, detection and push buttons, fans and air handling units, solar heating units, fire alarm systems, contactors, and cables for building, marine and offshore, and telecommunications industries. The products are distributed through a network of centrally located branches, drive-ins supporting the central warehouses and through an online channel. Apart from this, it sells accessories for consumer electronics through Aurora Group A/S. Solar A/S operates a number of subsidiaries in Denmark, Faroe Islands, Sweden, Norway, the Netherlands, Belgium, Poland and Austria. It operates, among others, through MAG45, an integrated supply company.
SOLAR A/S 
