Solar A/S
F:ZVR
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Solar A/S
Solar A/S engages in the provision of product sourcing and value-adding services to businesses. The Company’s sales are divided into industry segment and contractor segment. The firm offers, among others, lightning, boilers and radiators, water heaters, heat pumps, switches and socket outlets, detection and push buttons, fans and air handling units, solar heating units, fire alarm systems, contactors, and cables for building, marine and offshore, and telecommunications industries. The products are distributed through a network of centrally located branches, drive-ins supporting the central warehouses and through an online channel. Apart from this, it sells accessories for consumer electronics through Aurora Group A/S. Solar A/S operates a number of subsidiaries in Denmark, Faroe Islands, Sweden, Norway, the Netherlands, Belgium, Poland and Austria. The company operates, among others, through MAG45, an integrated supply company.
Solar A/S engages in the provision of product sourcing and value-adding services to businesses. The Company’s sales are divided into industry segment and contractor segment. The firm offers, among others, lightning, boilers and radiators, water heaters, heat pumps, switches and socket outlets, detection and push buttons, fans and air handling units, solar heating units, fire alarm systems, contactors, and cables for building, marine and offshore, and telecommunications industries. The products are distributed through a network of centrally located branches, drive-ins supporting the central warehouses and through an online channel. Apart from this, it sells accessories for consumer electronics through Aurora Group A/S. Solar A/S operates a number of subsidiaries in Denmark, Faroe Islands, Sweden, Norway, the Netherlands, Belgium, Poland and Austria. The company operates, among others, through MAG45, an integrated supply company.
Revenue Miss: Revenue for 2024 declined to DKK 12.2 billion, falling short of expectations and down from DKK 13 billion in 2023.
EBITDA Above Guidance: EBITDA for 2024 landed at DKK 646 million, which was above guidance but still below last year's level.
Sluggish Recovery: Management noted that recovery across segments was slower and less robust than expected, with uncertainty continuing into 2025.
Lowered Guidance: 2025 revenue is expected in the DKK 12.3–12.8 billion range, and EBITDA is guided at DKK 530–600 million, both reflecting challenging market conditions.
Margin Pressure: Gross margin was under pressure due to market price competition and increased service investments, and further slight declines are expected in 2025.
Cost Control: Cost-saving initiatives helped offset some margin dilution, and salary inflation will remain a headwind in 2025.
Dividend Proposal: The Board will propose a dividend of DKK 15 per share.
Lowered Ambitions: Strategic ambitions for Climate & Energy and EBITDA margin for 2026 have been revised downward due to ongoing uncertainty.
