The Annual General Meeting of Solar A/S will be held on Friday, 13 March 2026, at 11.00 am, at the address Industrivej Vest 43, 6600 Vejen, Denmark. The general meeting will be broadcast by video webcast at www.solar.eu to shareholders on record in the company’s register of shareholders. The agenda of the general meeting is as follows: 1. The Board of Directors’ report on the company’s activities during the past financial year. 2. Presentation and approval of the annual report with audited financial stateme ...

Core Insights - UBS Group AG has acquired shares in Solar A/S, increasing its holding to 407,439 shares, which represents 5.09% ownership [1] Company Overview - Solar A/S is a leading European sourcing and services company focused on electrical, heating and plumbing, ventilation, climate, and energy solutions [2][3] - The company generated approximately DKK 12.2 billion in revenue in 2025 and employs around 3,000 people [3] - Solar A/S is listed on Nasdaq Copenhagen under the designation SOLAR B [3] Business Focus - The core business of Solar A/S revolves around product sourcing, value-adding services, and optimizing customer operations [2] - The company emphasizes efficiency improvement and provides digital tools to enhance customer success [3] - Solar A/S is committed to driving the green transition and offers sustainable resource solutions [3]

Company Overview - Solar A/S is a leading European sourcing and services company focused on electrical, heating and plumbing, ventilation, climate, and energy solutions [2][3] - The company generated revenue of approximately DKK 12.2 billion in 2025 and employs around 3,000 people [3] - Solar is listed on Nasdaq Copenhagen under the designation SOLAR B [3] Shareholder Information - Tind Asset Management AS has acquired shares in Solar, increasing its holding to a total of 403,263 shares, which represents an ownership stake of 5.04% [1]

Core Insights - The company achieved an EBITDA of DKK 501 million in 2025, supported by the sale of the Halmstad warehouse, but faced pressure from uncertain market conditions and an unfavorable segment mix [1] - CEO Jens Andersen highlighted the acquisition of Sonepar Norge as a significant investment for long-term growth, with integration expected to be completed in 2026 [2] - The company is investing in digital transformation and constructing a fully automated logistics center in Kumla, which is set to improve service levels and efficiency by late Q2 2026 [3] Financial Performance - In Q4 2025, revenue was DKK 3,115 million, down from DKK 3,233 million in Q4 2024, with a total revenue of DKK 12,171 million for the year, slightly lower than DKK 12,223 million in 2024 [4] - EBITDA for Q4 2025 was DKK 205 million, down from DKK 219 million in Q4 2024, with an annual EBITDA of DKK 501 million compared to DKK 646 million in 2024 [4] - The company reported an organic growth of -6.1% in Q4 2025, with an EBITDA margin of 6.6% [4] 2026 Outlook - Revenue for 2026 is projected to be between DKK 12,900 million and DKK 13,400 million, with EBITDA expected to range from DKK 400 million to DKK 480 million [5] - Organic growth for 2026 is anticipated to be between -1.5% and 3.5%, with an EBITDA margin forecasted between 3.1% and 3.6% [5] - Key revenue drivers for 2026 include the Solar Polaris project, contributing DKK 275 million, and the acquisition of Sonepar Norge, adding DKK 700 million [6] Strategic Initiatives - The acquisition of Sonepar Norge is expected to temporarily dilute the EBITDA margin by approximately 0.7 percentage points in 2026 due to restructuring and integration costs [7] - The company is focused on optimizing its cost base and improving efficiency to navigate geopolitical uncertainties and market recovery challenges [4]

Core Points - Nordea Funds Ltd. has reduced its holding in Solar A/S to 4.96% of the voting rights after selling shares on December 17, 2025, totaling 78,788,600 shares at DKK 100 each [1] Company Overview - Solar A/S is a leading European sourcing and services company focused on electrical, heating and plumbing, ventilation, climate, and energy solutions [2][3] - The company generated approximately DKK 12.2 billion in revenue in 2024 and employs around 2,900 people [3] - Solar A/S is listed on Nasdaq Copenhagen under the designation SOLAR B [3] Business Focus - The company emphasizes efficiency improvement and provides digital tools to enhance customer success [3] - Solar A/S is committed to driving the green transition and offers best-in-class solutions for sustainable resource use [3]

Core Insights - Nordea Funds Ltd. has reduced its holding in Solar A/S, now owning 79,787,200 shares, which represents a 9.96% ownership stake following a sale on December 15, 2025 [1] Company Overview - Solar A/S is a leading European sourcing and services company focused on electrical, heating and plumbing, ventilation, climate, and energy solutions [2][3] - The company generated approximately DKK 12.2 billion in revenue in 2024 and employs around 2,900 people [3] - Solar A/S is listed on Nasdaq Copenhagen under the designation SOLAR B [3] Business Focus - The company emphasizes efficiency improvement and provides digital tools to enhance customer success [3] - Solar A/S is committed to driving the green transition and offers best-in-class solutions for sustainable resource use [3]

Core Insights - UBS AG has reduced its holding in Solar A/S, now owning 378,709 shares, which represents a 4.73% ownership stake following a sale on December 4, 2025 [1] Company Overview - Solar A/S is a leading European sourcing and services company focused on electrical, heating and plumbing, ventilation, climate, and energy solutions [2] - The company generated approximately DKK 12.2 billion in revenue in 2024 and employs around 2,900 people [3] - Solar A/S is listed on Nasdaq Copenhagen under the designation SOLAR B [3] Business Operations - The company specializes in product sourcing, value-adding services, and optimizing customer businesses [2] - Solar A/S is committed to driving efficiency improvements and providing digital tools to enhance customer success [3] - The company plays a significant role in the green transition, offering sustainable resource solutions [3]

Core Points - UBS AG has acquired a total of 405,631 shares of Solar B, representing an ownership stake of 5.07% following a purchase on December 3, 2025 [1] Company Overview - Solar is a leading European sourcing and services company focused on electrical, heating and plumbing, ventilation, climate, and energy solutions [2] - The company generated approximately DKK 12.2 billion in revenue in 2024 and employs around 2,900 people [3] - Solar is listed on Nasdaq Copenhagen under the designation SOLAR B and is headquartered in Denmark [3] Business Focus - The core business of Solar revolves around product sourcing, value-adding services, and optimizing customers' operations [2] - The company emphasizes efficiency improvement and provides digital tools to enhance customer success [3] - Solar is committed to driving the green transition and offers best-in-class solutions for sustainable resource use [3]

Core Viewpoint - UBS AG has reduced its holding in Solar A/S, now owning 372,705 shares, which represents 4.66% of the company [1] Company Overview - Solar A/S is a leading European sourcing and services company focused on electrical, heating and plumbing, ventilation, climate, and energy solutions [2] - The company generated approximately DKK 12.2 billion in revenue in 2024 and employs around 2,900 people [3] - Solar A/S is listed on Nasdaq Copenhagen under the designation SOLAR B [3] Business Operations - The company emphasizes efficiency improvement and provides digital tools to enhance customer success [3] - Solar A/S is committed to driving the green transition and offers sustainable resource solutions [3]

Core Points - UBS AG has acquired a total of 416,780 shares of Solar A/S, representing an ownership stake of 5.21% as of November 14, 2025 [1] Company Overview - Solar A/S is a leading European sourcing and services company focused on electrical, heating and plumbing, ventilation, climate, and energy solutions [2][3] - The company generated approximately DKK 12.2 billion in revenue in 2024 and employs around 2,900 people [3] - Solar A/S is listed on Nasdaq Copenhagen under the designation SOLAR B [3]