No. 17 2022 Strong Q3 as basis for adjustment of 2022 guidance

Q3 was characterised by improved earnings and strong organic growth. On that basis and our expectations to Q4, we adjust 2022 guidance to a revenue of DKK 13,700m and an EBITDA of DKK 1,170m up from a revenue of DKK 13,450m and an EBITDA of DKK 1,100m. The EBITDA guidance includes DKK 225m in one-off effects.CEO Jens Andersen says: "Q3 was another strong quarter delivering high organic growth and improved earnings. Our strategic focus area Climate & Energy supported the strong...

Vejen, 03/11/2022 (informazione.news - comunicati stampa - scienza e tecnologia)

We now expect revenue at DKK 13,700m, corresponding to an organic growth of approx. 12%. The Better Business project is an integral part of our strategic focuses in the Core+ strategy and is expected to reduce revenue by DKK 200m compared to 2021. Adjusted for this, we expect organic growth of approx. 14%.

We expect EBITDA to amount to DKK 1,170m, up by DKK 70m of which DKK 25m can be attributed to additional one-off price effects.

The guidance for 2022 assumes that the Russian invasion of Ukraine, and sanctions imposed by the European Union and other international bodies, will not have any significant knock-on effects e.g. leading to a significant drop in market activities.

The presentation of Quarterly Report Q3 2022 will be made in English on 3 November 2022 at 11:00 CET. The presentation will be transmitted as an audio webcast and will be available at www.solar.eu. Participation will be possible via teleconference.

Teleconference call-in numbers:

DK: tel. +45 787 232 50
UK: tel. +44 333 300 9265
US: tel. +1 646 722 4957

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

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 12.4bn in 2021 and has approx. 2,900 employees. Solar is listed on Nasdaq Copenhagen and operates under the short designation SOLAR B. For more information, please visit www.solar.eu .

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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