News

Oslo, Saturday, January 1, 2000
Stock Exchange Notification
REPORT 2ND QUARTER AND 1ST HALF 2008 - HIGHER REVENUES AND EARNINGS

Blom reports good organic growth with over 30 per cent higher revenues than in the first half of 2007. The 2nd quarter showed revenues of NOK 241 million, compared with NOK 202 million for the corresponding period last year. The EBITDA is NOK 49.8 million, compared with NOK 42.6 million in the 2nd quarter of 2007. This corresponds to an EBITDA margin of 20.6 per cent.

Blom shows strong growth and envisions a continued good outlook in the mapping and modelling segments. Blom also experiences a high level of interest and activity in navigation and 3D models and oblique photos in particular, where the company is participating in a number of talks on cooperation. The company is experiencing that the use of photos and 3D models in navigation is new and the
negotiations and testing with customers is taking somewhat longer than previously expected.

Highlights in 2nd quarter

Blom continues and expands its cooperation with Microsoft. Blom expects deliveries valued at NOK 200 million up to the end of 2010.

Blom signed a long-term agreement with ImageTree concerning the right to use Blom`s patented technology (Lidar).

Enter into a contract in launching of navigator in Finland with Blom`s unique navigation solution 3DPhotoNav®.

Blom enters into a three-year framework agreement with U.S. Army Corps of Engineers to survey the US coastline.

Blom launches Geoserver - Urban Explorer.

Signed a contract valued at NOK 64 million with the Spanish Armed Forces.

Results


IFRS 2nd quarter First half year
(Amounts in NOK 1000) 2008 2007 2008 2007

Operating revenues 241381 202144 441658 338777
EBITDA 49780 42572 79213 59995
EBIT 30689 26760 42171 30964
EBT 26699 18206 39074 16096


To download the full report

For further information please contact:

CEO, Mr. Håkon Jacobsen, on tel. +47 22 13 19 33 or

CFO Jan Erik Braathen on tel. +47 22 13 19 24.

Web development by Imaginanet