NASDAQ OMX Copenhagen A/S GlobeNewswire https://cns.omxgroup.com Announcement no. 15 2015 Contacts: CEO Anders Wilhjelm – tel. +45 79 30 02 01 CFO Michael H. Jeppesen – tel. +45 79 30 02 62 Stakeholder Relations Manager Charlotte Risskov Kræfting – tel. +45 40 34 29 08 Quarterly Report Q2 2015 As a consequence of the divestment of the assets in Solar Deutschland GmbH, the stated figures for 2014 and 2015 in this announcement relate to the continuing operations. 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.: 15 90 84 16 11 August 2015 The Solar Group’s Q2 2015 revenue and EBITA were better than expected. We raise our expectations for both revenue and EBITA for the full year. CEO Anders Wilhjelm says: ”Solar saw growth in all markets in the second quarter. We are pleased about our business’ continued momentum and raise our expectations for 2015. At the same time, we work determinedly on increasing our profitability and strengthening our customers’ businesses – we want to make our customers winners. In the Netherlands, we have now completed a business consolidation, so that all customers have the benefit of full access to Solar’s products and services as well as one comprehensive network of branches. At the same time, the entire integration in the Netherlands is a really great example of how we have succeeded to reduce internal complexity.” Q2 2015 2,674 48 30 58 9.4 1.8 12.4 12.0 Q2 2014 2,476 0 -24 -75 -3.4 0.0 13.3 12.4 H1 2015 5,319 108 70 -125 7.0 2.0 12.4 12.0 H1 2014 5,061 38 -13 -247 0.1 0.8 13.3 12.4 Select key figures (DKK million) Revenue EBITA Earnings before tax Cash flow from operating activities Select key ratios (%) Organic growth EBITA margin Period-end net working capital/revenue (LTM) Average net working capital/revenue (LTM)* * Calculated as an average of the last four quarters’ inventories, debtors and creditors. Q2 2015 revenue The group’s revenue exceeded our expectations. Organic growth amounted to 9.4% against -3.4% in Q2 2014. Adjusted for the number of working days, organic growth amounted to 10.1% against -2.3% in Q2 2014. Q2 2015 EBITA EBITA for the group exceeded our expectations. Q2 2014 EBITA was affected by restructuring costs of DKK 10m and Solar 8000 costs of DKK 8m. Page 1 of 2
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