No. 2 2021 Annual Report 2020 - Seite 2

• Adjusted organic growth amounted to -2.0% (4.9%), partly due to a declining demand caused by COVID-19 and partly due to our Better Business initiatives.

2020 EBITA

• The results for our core business exceeded our expectations with EBITA being up by DKK 56m to DKK 456m compared to the original guidance.
• Focus on strategic suppliers and concept sale, project Better Business and Operational excellence were stronger than expected. See the follow-up on page 8 in Annual Report 2020.

Dividend distribution

• At the Annual General Meeting, the Board of Directors will propose dividend distribution of DKK 28.00 per share, corresponding to a payout ratio of 92%.

2021 outlook

• We expect revenue of approx. DKK 11,550m equal to an organic growth of approx. 0%.
• Better Business initiatives are expected to reduce revenue by DKK 200m. The adjusted organic growth amounts to approx. 2%.
• We expect an EBITDA of approx. DKK 650m, corresponding to an EBITA of DKK 465m.

See the remaining assumptions on page 9 in Annual Report 2020.

Introduction of our new CORE+ strategy

With CORE+ we will be building on the solid foundation of our core. The new strategy focuses on four areas: Concepts, Climate & Energy, Industry and Trade. Areas in which we have a solid track record and see further opportunities for profitable growth in the years to come.

Our ambitions for the strategic period from 2021 to 2023 can be found on page 17 in Annual Report 2020. 

Audio webcast and teleconference today
The presentation of Annual Report 2020 will be made in English on 11 February 2021 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. [phone]
UK: tel. [phone]
US: tel. [phone]

Contacts
CEO Jens Andersen - tel. [phone]

CFO Michael H. Jeppesen - tel. [phone]

IR Director, Dennis Callesen - tel. [phone]

 

Enclosure: Annual Report 2020, pages 1-155, including Q4 2020 quarterly information.

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 11.5bn in 2020 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.

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.

Attachments

• SOLA-2020-12-31
• No. 2 2021 Annual Report 2020