Nasdaq Copenhagen A/S GlobeNewswire https://cns.omxgroup.com Announcement no. 25 2016 Contacts: CEO Anders Wilhjelm – tel. +45 79 30 02 01 CFO Michael H. Jeppesen – tel. +45 79 30 02 62 Director, Stakeholder Relations Charlotte Risskov Kræfting – tel. +45 40 34 29 08 Solar A/S Executive Board Industrivej Vest 43 DK - 6600 Vejen Denmark Tel. +45 79 30 00 00 www.solar.eu Ref. AW/crk CVR no. 15908416 27 April 2016 Quarterly Report Q1 2016 Solar Group revenue and EBITA for Q1 2016 exceeded our expectations slightly. Our outlook for 2016 remains unchanged. CEO Anders Wilhjelm says: ”Q1 revenue and EBITA exceeded our expectations slightly, and we are pleased to see organic growth in Q1 despite headwinds in certain markets. We are also pleased to see a continuous improvement of our working capital position. During Q1, we have started to deliver on our digital promise. One example is the launch of a new Solar Light website in Denmark. This new website focuses on simplifying the work of electrical contractors, consulting engineers and architects.” Financial highlights (DKK million)* Revenue EBITA Earnings before tax Cash flow from operating activities Financial ratios (%) Organic growth adj. for number of working days EBITA margin Net working capital, period-end/revenue (LTM) Net working capital, average/revenue (LTM)** Q1 2016 2,656 52 28 -251 1.2 2.0 11.6 11.6 Q1 2015 2,645 60 40 -183 5.8 2.3 12.7 12.4 2015 10,587 296 201 331 5.2 2.8 9.3 11.8 * Due to our divestment of the assets of Solar Deutschland GmbH, 2015 and 2016 figures in this announcement relate to our continuing operations. ** Calculated as an average of the past four quarters’ inventories, trade receivables and trade payables. Page 1 of 2
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