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0G33 Solar A/s

0.00 (0.00%)
21 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Solar A/s LSE:0G33 London Ordinary Share DK0010274844 SOLAR B ORD SHS
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 406.50 319 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Electronic Components, Nec 13.03B 347M 53.7152 7.57 2.63B

No. 8 2024 Q1 EBITDA on par with expectations

02/05/2024 6:58am

UK Regulatory

Solar A/s (LSE:0G33)
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No. 8 2024 Q1 EBITDA on par with expectations

Q1 revenue and EBITDA are in line with our expectations. We confirm our 2024 EBITDA guidance of DKK 600m.

CEO Jens Andersen says:
"As expected, all segments showed negative growth in Q1 2024, with March performing slightly better than January and February.

In April, Solar Danmark’s growth almost edged into positive territory. As a result of Solar Danmark winning more projects compared to the same period last year, we remain confident this positive development will continue for the rest of 2024.

Consequently, we confirm our 2024 EBITDA guidance of DKK 600m.”

Q1 key financial messages

  • Q1 EBITDA is on par with expectations.
  • Net working capital at the end of the quarter continued to fall.
  • 2024 EBITDA guidance of DKK 600m confirmed.

Adjusted organic growth reflects an adjustment for the early timing of Easter when compared to Q1 2023. However, the effect from the working days leading up to Easter, which traditionally see lower business activities, has not been adjusted in the organic growth.

Financial highlights (DKK million)Q1 2024Q1 2023
Cash flow from operating activities7101
Financial ratios (%)  
Organic growth adj. for number of working days-15.46.7
EBITDA margin2.97.7
Net working capital, end of period/revenue (LTM)15.116.7
Gearing (NIBD/EBITDA), no. of times2.11.3
Return on invested capital (ROIC)8.523.2

We confirm our revenue guidance of DKK 12,500m and EBITDA guidance of DKK 600m.

General assumption
Our 2024 guidance is still impacted by an unpredictable market outlook due to heightened geopolitical and macroeconomic tension. However, we expect a recovery in the macroeconomic situation towards the end of the year.

We have implemented, and will continue to implement, mitigating measures, including cost containment, process improvements and the necessary staff reductions.

Audio webcast and teleconference today
The presentation of Quarterly Report Q1 2024 will be made in English on 2 May 2024 at 11:00 CET. The presentation will be transmitted as an audio webcast and will be available at Participation will be possible via teleconference.

Access to the webcast:

To participate by telephone, and thus have the possibility to ask questions:
Register in advance of the teleconference using the link below. Upon registering, each participant will be provided with a Dial In Number, and a unique Personal PIN:

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


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 13.0bn in 2023 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

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.



  • No. 8 2024 Quarterly Report Q1 2024
  • Solar Quarterly Report Q1 2024
  • SOLA-2024-03-31-en

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