Solar continued a development in Q3 2007 with a high organic growth on par with
the very high level in H1.
Main figures for Q3 2007:
• Revenue improved by 31% to € 335.9m
• Organic revenue growth amounted to 16%
• EBITA improved by 6.7% to € 20.7m
Main figures for Q1-Q3 2007:
• Revenue improved by 29% to € 988.9m
• Organic revenue growth amounted to 17%
• EBITA improved by 26% to € 54.1m
• Earnings before tax improved by 4.7% to € 46.5m
Please note that earnings before tax in Q1-Q3 2006 were affected by profit from
the sale of property of € 2.9m and earnings before tax in Q1-Q3 2007 were
affected by amortisation of € 4.4m. Adjusted for this, earnings before tax
improved by 23% in Q1-Q3 2007.
Solar maintains the expectations for revenue in 2007 of € 1,360m, but due to
circumstances of a one-time nature in Q3 and development generally below
expectations in the HWS markets, expected EBT is reduced from € 72m to € 69m.
EBT will be affected by amortisation of intangible fixed assets of € 6.1 m.
In 2008, the recent years' positive development of the group with revenue of €
1,500m and earnings before tax of € 78m is expected to continue. Profit for
2008 will be affected by amortisation of intangible assets of € 6.8m.
Yours faithfully,
SOLAR A/S
Jens Borum
Appendix: Quarterly report Q3 2007, 16 pages
