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6 May 2021 Announcement no . 13 2021 QUARTERLY REPORT Q1 2021 Solar delivered an EBITDA increase of 44 % in Q1 . In April , revenue and EBITDA guidance were revised upwards by DKK 200m and DKK 75m to DKK 11,750m and DKK 725m , respectively . CEO Jens Andersen says : " 2021 is off to a good start with revenue and EBITDA exceeding our expectations . We have seen the first impact of the new Core + strategy , which we introduced in February . In Q1 , the gross profit margin has shown strong performance across our markets driven by the Better Business project and the positive development in concept sales . At the same time , we maintained focus on cost containment . Finally the Board of Directors has decided to distribute an extraordinary dividend of DKK 15.00 per share . " Q1 key financial messages • EBITDA margin up by 2.1 % -points Net working capital down by 0.6 % -points • 2021 guidance : Revenue of DKK 11,750m and EBITDA of DKK 725m Financial highlights ( DKK million ) Revenue EBITDA Q1 2021 Q1 2020 3,004 3,045 204 142 -88 -43 Cash flow from operating activities Financial ratios ( % ) Organic growth adj . for number of working days EBITDA margin -0.6 1.4 6.8 4.7 Net working capital , period - end / revenue ( LTM ) Gearing ( NIBD / EBITDA ) , no . of times 11.4 12.0 0.7 1.9 Solar A / S LEI : 21380031XTLI9X5MTY92 Industrivej Vest 43 , DK - 6600 Vejen , Denmark Tel . +45 79 30 00 00 CVR no . 15 90 84 16 www.solar.eu solar