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Solar A/S: No. 7 2025 Unexpected slowdown in market activity
Globenewswireยท2025-08-14 05:59

Core Insights - Solar experienced negative growth in Q2, particularly in the Industry segment, with a slight decline in Installation, while Trade and Climate & Energy segments showed growth driven by Solar Polaris' sales to a major solar park project [1][6] - The company executed staff reductions and initiated measures to optimize its operating model, incurring transition costs of DKK 12 million and restructuring costs of DKK 45 million, expected to yield savings of approximately DKK 70 million going forward [2] - The company remains optimistic about improving profitability during its strategic period, supported by a resilient business model and executed initiatives [3] Financial Performance - Q2 2025 revenue was DKK 3,018 million, down from DKK 3,100 million in Q2 2024; H1 2025 revenue reached DKK 6,241 million, slightly up from DKK 6,130 million in H1 2024 [4] - EBITDA for Q2 2025 was DKK 112 million, down from DKK 137 million in Q2 2024; H1 2025 EBITDA was DKK 186 million, compared to DKK 225 million in H1 2024 [4] - Organic growth adjusted for working days was -1.2% in Q2 2025, an improvement from -7.8% in Q2 2024; H1 2025 showed organic growth of 2.6%, up from -11.2% in H1 2024 [4] Guidance and Future Outlook - The company projects 2025 revenue between DKK 11,750 million and DKK 12,250 million, with EBITDA expected to be between DKK 450 million and DKK 510 million [5] - The company aims for an EBITDA margin greater than 5% by 2026, with anticipated improvements from initiatives implemented in 2025 expected to increase the EBITDA margin by approximately 0.7 percentage points [7] Company Overview - Solar is a leading European sourcing and services company focused on electrical, heating, plumbing, ventilation, and climate and energy solutions, facilitating efficiency improvements and driving the green transition [8] - The company generated approximately DKK 12.2 billion in revenue in 2024 and employs around 2,900 people, listed on Nasdaq Copenhagen under the designation SOLAR B [9]