News

Oslo, Monday, April 29, 2013
Stock Exchange Notification
THE BOARDS APPROVAL OF THE FINANCIAL STATEMENT FOR 2012

The Board of Directors of Blom ASA has 29th of April 2013 approved the 2012 financial statements for Blom Group and Blom ASA. Blom Group reports operating revenues of NOK 335 million, is in line with the preliminary financial statements announced on 8th of February, 2013, and a loss for the year from continued operations of NOK 33 million for 2012.

The Board of Directors of Blom ASA has decided to propose to the annual general meeting that no dividend will be paid for 2012.

Compared with the preliminary financial statements announced on 8th of February, 2013, the following changes have been implemented in the 2012 financial statements:

- NOK 35 million of the 2009 bond loan was in 2012 exchanged with a new convertible bond loan with face value NOK 11 million. This debt release of NOK 24 million was in the preliminary financial statements accounted for directly towards equity, whereas it in the Annual Report is treated in accordance with IFRIC 19, i.e. posted as other gain / losses in the Profit and Loss Account. This adjustment does not have any effect on cash flow nor on equity.

- New information acquired since 31. December, 2012, has led to a downgrade of estimated future cash flow from some of the cash generating units (impairment test), which consequently led to a further write down of assets amounting to NOK 9 million.

For further information please contact:

Dirk Blaauw, CEO, at tel: +47 22 13 19 23 or Lars Bakklund, CFO, at tel: +47 22 13 19.

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