Solar – No. 9 2024 We reconfirm our EBITDA guidance of DKK 600m for 2024

Q2 revenue and EBITDA are in line with expectations. We reconfirm our EBITDA guidance of DKK 600m for 2024.

CEO Jens Andersen says:
“Recovery is now taking root in Denmark. In Q2, Solar Danmark’s growth almost edged into positive territory, and we are now seeing signs of recovery. We are confident that this positive development will continue for the remainder of the year and in our other markets.

We continue to initiate measures to mitigate the impact of cost inflation and market slowdown.

Consequently, we reconfirm our EBITDA guidance of DKK 600m for 2024.”

Q2 key financial messages

• Q2 EBITDA is on par with expectations.
• Net working capital continued to improve.
• 2024 EBITDA guidance of DKK 600m reconfirmed.

Guidance

We reconfirm our revenue guidance of DKK 12,500m and EBITDA guidance of DKK 600m.

General assumption

Our 2024 guidance is impacted by an unpredictable market outlook due to macroeconomic uncertainties. However, we expect a recovery in the macroeconomic situation towards the end of the year.

We have implemented, and will continue to implement, mitigating measures, including cost containment, process improvements and the necessary staff reductions.

Audio webcast and teleconference today

The presentation of Quarterly Report Q2 2024 will be made in English on 8 August 2024 at 11:00 CET. The presentation will be transmitted as an audio webcast and will be available at www.solar.eu. Participation will be possible via teleconference.

Access to the webcast:

https://edge.media-server.com/mmc/p/w3wfatmy

To participate by telephone, and thus have the possibility to ask questions:
Register in advance of the teleconference using the link below. Upon registering, each participant will be provided with a Dial In Number, and a unique Personal PIN:
https://register.vevent.com/register/BI9ffb5ffe7561446db51ef69a2d2b0634