Solar AS (FRA:ZVR)

Q3 2025 Solar A/S Earnings Call Transcript

Nov 6, 2025 / 10:00 AM GMT

Release Date Price: €25.85 (-1.34%)

Transcript

Key Points

Positve

Solar AS (STU:ZVR) reported a segment-wise organic growth of 15.3% in trade, driven mainly by solar Polaris.
The company successfully transitioned its Swedish operations to a single warehouse ahead of schedule, improving service levels and freeing up cash.
Solar AS (STU:ZVR) is investing in future growth with a significant acquisition in Norway, expected to close by early December, which will make it a leading electrical distributor in the region.
The company is nearing the completion of a major investment program in warehouse automation and digitalization, expected to enhance operational performance.
Solar AS (STU:ZVR) is upgrading its digital platform to improve customer experience and sales, with new features expected to be available in the first half of 2026.

Negative

Revenue in Q3 decreased to 2.8 billion, falling in the low range of the company's expectations.
The EBITA for the third quarter was 110 million, also in the low range of expectations, impacted by non-recurring costs.
The company faced headwinds in several markets, particularly in Sweden, where expected market improvements did not materialize.
Solar AS (STU:ZVR) experienced a decrease in gross margin due to fierce price competition and lack of cyclical inventory gains.
The company revised its 2025 guidance to the lower end of previous expectations, with anticipated revenue of $12 billion and EBITDA of $460 million.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SOLARb.CO - Solar A/S
Q3 2025 Solar A/S Earnings Call
Nov 06, 2025 / 10:00AM GMT

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Presentation
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Unidentified_1 [1]
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Dear all on the line, a warm welcome to this 3rd quarter webcast for the Solar Group. Together with me, I have my colleague, CFO Michael Yebisson.

The agenda for today is a general update with some highlights in the quarter, then a short summary of how we invest in future growth.

Then Michael will present the financial highlights for the quarter and our guidance expectations for 2025.

And finally, and hopefully we will have a Q&A session.

Next slide please.

If we go into the highlights, revenue in Q3 decreased to 2.8 billion, similar to an adjusted organic growth of 2.1. When adjusted for solar, Polaris delivers to a major solar park project, organic growth amounts to 0.4. Revenue in Q3 was in the low

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