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4 November 2021 Announcement no . 19 2021 SOLAR DELIVERED AN EBITDA INCREASE OF DKK 60M IN Q3 In October , revenue and EBITDA guidance were revised upwards by DKK 200m and DKK 75m to DKK 12.3bn and DKK 900m , respectively , see announcement no . 18 . CEO Jens Andersen says : " Nine months into 2021 , we continue to see progress in our Core + strategy with all four strategic focus areas - Industry , Concepts , Trade and Climate & Energy - delivering strong financial results . In Q3 , we delivered an EBITDA increase of DKK 60m , leading to a margin increase of 1.5 percentage points driven by strong market demand and one - off price effects . Furthermore , we are preparing an update of our 2023 financial targets as these have already been met . I want to thank my colleagues for their continued efforts and dedication that have resulted in 12 straight quarters of EBITDA growth . " 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 Q3 key financial messages With 8.8 % organic growth , we realised stronger growth rates than anticipated in all markets . One - off price effects resulted in an impact of approx . DKK 50m on gross profit . Return on invested capital ( ROIC ) more than doubled . Financial highlights ( DKK million ) Revenue EBITDA Cash flow from operating activities Financial ratios ( % ) Organic growth adj . for number of working days EBITDA margin Net working capital , end of period / revenue ( LTM ) Gearing ( NIBD / EBITDA ) , no . of times Return on invested capital ( ROIC ) Q3 2021 2,872 237 -38 8.8 8.3 13.0 0.5 23.6 Q3 2020 Q1 - Q3 2021 Q1 - Q3 2020 2,618 177 142 solar -4.8 6.8 11.9 1.2 11.7 8,974 652 225 5.4 7.3 13.0 0.5 23.6 8,408 446 381 -0.8 5.3 11.9 1.2 11.7