No. 3 2024 Annual Report 2023
08 Febbraio 2024 - 8:03AM
No. 3 2024 Annual Report 2023
In 2023, we reached a revenue of DKK 13.0bn and an EBITDA DKK
0.9bn. EBITDA was in line with our guidance, whereas revenue came
in below caused by a market slowdown. At the Annual General
Meeting, the Board of Directors will propose a dividend
distribution of DKK 30 per share.
CEO Jens Andersen says:“Our 2023 result was one
of the best in Solar’s history and in line with our guidance.
However, in Q4 we saw a considerable revenue decrease across all
segments. Nevertheless, we managed to offset the headwinds through
several measures such as cost containment and thereby meet the DKK
0.9bn EBITDA target.
Today, we introduce our new strategy: Solve, where we will
continue to strengthen Solar’s core business. With Solve, it is our
ambition to create additional value at an earlier stage of our
customers' decision-making process focusing on effective solutions
to their challenges. With our three strategic focus areas we will
maximise the growth potential of Climate & Energy, improve
profitability via Concept strength, and increase market share by
delivering Solution sales.
As a company we are resilient, and we are ready to take on a
challenging 2024. We therefore have an ambition of an EBITDA margin
of >6% in 2026.”
Financial highlights (DKK million) |
Q4 2023 |
Q4 2022 |
2023 |
2022 |
Revenue |
3,160 |
3,684 |
13,031 |
13,863 |
EBITDA |
190 |
326 |
871 |
1,175 |
EBITA |
131 |
274 |
648 |
978 |
Earnings before tax |
85 |
223 |
468 |
858 |
Cash flow from operating activities |
486 |
242 |
855 |
16 |
Financial ratios (%) |
|
|
|
|
Organic growth adj. for number of working days |
-11.1 |
12.0 |
-2.6 |
12.9 |
EBITDA margin |
6.0 |
8.8 |
6.7 |
8.5 |
EBITA margin |
4.1 |
7.4 |
5.0 |
7.1 |
Net working capital, end of period/revenue (LTM) |
14.6 |
15.9 |
14.6 |
15.9 |
Gearing (NIBD/EBITDA), no. of times |
1.3 |
0.9 |
1.3 |
0.9 |
Return on invested capital (ROIC) |
13.2 |
25.5 |
13.2 |
25.5 |
2023 revenue
- Adjusted organic growth amounted to
-2.6% (12.9%) and revenue came to DKK 13.0bn (DKK 13.9bn).
2023 EBITDA
- EBITDA amounted to DKK 0.9bn (DKK
1.2bn). The EBITDA decrease is partly due to a DKK 0.2bn one-off
income in 2022.
Dividend distribution
- At the Annual General Meeting, the
Board of Directors will propose dividend distribution of DKK 30.00
per share, corresponding to a payout ratio of 63%.
2024 outlook
- We expect a revenue of DKK
12.5bn.
- We expect an EBITDA of DKK 600m.
Our guidance assumptions are included on page 8 in Annual Report
2023.
Audio webcast and teleconference today
The presentation of Annual Report 2023 will be made in English
on 8 February 2023 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.
Access to the webcast:
https://edge.media-server.com/mmc/p/h6cvmeus
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:https://register.vevent.com/register/BI41ef68a199be4d3db65cf10c963839d1
Contacts
CEO Jens Andersen - tel. +45 79 30 02 01CFO Michael H. Jeppesen
- tel. +45 79 30 02 62IR Director Dennis Callesen - tel. +45 29 92
18 11
Fact 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
www.solar.eu.
DisclaimerThis 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. 3 2024 Annual report 2023
- Solar Annual Report 2023
- SOLA-2023-12-31-en
Grafico Azioni Solar B (TG:ZVR)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Solar B (TG:ZVR)
Storico
Da Dic 2023 a Dic 2024