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Nordic Solar A/S — Credit Rating and Financial Key Figures
Credit rating
Company information
About Nordic Solar A/S
Nordic Solar A/S (CVR number: 33367023K) is a company from GENTOFTE. The company reported a net sales of 50.2 mEUR in 2025, demonstrating a growth of 2.1 % compared to the previous year. The operating profit percentage was poor at -14.2 % (EBIT: -7.1 mEUR), while net earnings were -34.5 mEUR. The profitability of the company measured by Return on Assets (ROA) was -0.1 %, which can be considered poor and Return on Equity (ROE) was -12.4 %, which can be considered poor. The equity ratio, a key indicator for solidity, stood at 28.4 %, a level that can be considered to be low. This means a higher proportion of debt in its capital structure, indicating a greater reliance on borrowed funds. Nordic Solar A/S's liquidity measured by quick ratio was 0.8 which is at a low level. Thus, the company may face difficulties in addressing its short-term obligations with its available liquid assets.
Financial information
See financialsNet sales (mEUR)
EBIT (mEUR)
Profitability
Solidity
Key figures (mEUR)
See financials2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Volume | |||||
| Net sales | 46.46 | 72.37 | 58.93 | 49.20 | 50.23 |
| Gross profit | 36.12 | 56.94 | 43.70 | 33.27 | 33.56 |
| EBIT | 12.01 | 24.04 | 6.13 | -13.16 | -7.12 |
| Net earnings | 1.55 | 6.17 | -9.23 | -30.09 | -34.45 |
| Shareholders equity total | 254.09 | 338.41 | 327.49 | 299.56 | 256.64 |
| Balance sheet total (assets) | 592.45 | 706.77 | 802.03 | 937.70 | 904.69 |
| Net debt | 224.35 | 182.74 | 299.40 | 323.63 | 341.71 |
| Profitability | |||||
| EBIT-% | 25.9 % | 33.2 % | 10.4 % | -26.7 % | -14.2 % |
| ROA | 2.7 % | 4.2 % | 1.7 % | -1.0 % | -0.1 % |
| ROE | 0.9 % | 2.1 % | -2.8 % | -9.6 % | -12.4 % |
| ROI | 2.9 % | 4.5 % | 1.8 % | -0.9 % | -0.1 % |
| Economic value added (EVA) | -7.61 | -9.58 | -24.13 | -49.42 | -47.95 |
| Solvency | |||||
| Equity ratio | 42.9 % | 47.9 % | 40.7 % | 31.9 % | 28.4 % |
| Gearing | 108.7 % | 86.8 % | 127.0 % | 139.3 % | 159.6 % |
| Relative net indebtedness % | 616.9 % | 355.8 % | 611.6 % | 1106.8 % | 1154.9 % |
| Liquidity | |||||
| Quick ratio | 0.9 | 1.7 | 1.8 | 1.3 | 0.8 |
| Current ratio | 0.9 | 1.7 | 1.8 | 1.3 | 0.8 |
| Cash and cash equivalents | 51.74 | 110.88 | 116.46 | 93.58 | 67.90 |
| Capital use efficiency | |||||
| Trade debtors turnover (days) | 25.4 | 50.9 | 43.6 | ||
| Net working capital % | -10.2 % | 75.1 % | 96.7 % | 46.6 % | -53.4 % |
| Credit risk | |||||
| Credit rating | AA | AA | AA | A | A |
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