News

Oslo, Saturday, January 1, 2000
Stock Exchange Notification
REPORT FOR 3RD QUARTER 2006

3rd quarter turnover and margins confirm basis for further growth and solid margins.

The company`s operating revenues for the 3rd quarter of 2006 was NOK 283.5 million, equivalent the company`s operating revenues for the first nine months of 2005. The combined EBITDA for the 3rd quarter was NOK 78.1 million, including a gain of NOK 31.4 million on the sale of real estate. For the respective divisions, the EBITDA were 26% for Geographic Information and 11% (exclusive the profit of sale of real estate) for Offshore Technology. Good margins combined with
the quarter`s record new order volume, confirms the company`s platform for further growth and solid margins.

As of 30 September the operating revenues was NOK 546.2 million and the EBITDA was NOK 113.0 million, including a gain on the sale of real estate. Both the sales turnover and EBITDA represent a significant percentage increase from
the same period last year. The company has documented through its activities in the 3rd quarter an annual operating revenues approaching NOK 1.2 billion. High contract coverage for 2007 combined with good visibility in the market have lead to a growth rate that is greater than would be normally indicated by the balance sheet. This has helped establish the foundation for a long-term value for shareholders. The strong growth in operating revenues for the 3rd quarter is
attributed primarily to the fact that ScanRope was consolidated for the entire quarter with operating revenues of NOK 80.1 million and EBITDA of NOK 8.1 million, exclusive the profit of sale of real estate.

Blom`s combined operations have shown a high level of activity and good margins during the quarter. The company expects to reach both its sales turnover and EBITDA margin targets for the year. In the Geographic Information division the company is in the final phase of developing applications that will enable use of thecompany`s map and image database in phones and other mobile applications. A breakthrough for such solutions may have a major impact on the division`s future earnings.

The report for Q3 2006 can be downloaded here




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