3RD QUARTER 2014 REPORT AND RESULT PRESENTATION

Today, October 30 2014, Blom presented its 3rd quarter 2014 result report. The presentation was webcast. Please find a summary of the report below, in addition to the report and presentation in full for download.

Q3 2014 REPORT

Q3 2014 RESULT AND PRESENTATION

WEBCAST


Improved earnings

The company's focus and resources have been aimed this year at maintaining and developing the company's profitable operations further. At the same time, the company has sought growth opportunities by exploiting its existing expertise in new business areas.

Blom delivered a result from its operational activities for the quarter demonstrating that the company's strategy has started to show results. Total revenues of NOK 79 million gave an EBITDA result of NOK 12.8 million and a margin corresponding to 16 per cent.

The company's increased focus on a broader application of sensor technology has opened up new market opportunities in Arctic regions, areas with substantial mineral deposits and environmental challenges.

Work has started on the contract to build up a European orthophoto database. The contract will have a major impact on the company's operations over the next two years. The contract gives the company sales rights to the database, which may provide future earning opportunities.

The company reported revenues of NOK 79 million in the 3rd quarter, compared with NOK 61 million for the same quarter in 2013, adjusted for the sale of intangible assets totalling NOK 20 million in 2013. The pre-tax profit was NOK 9 million, compared with a loss of NOK 23 million for the corresponding quarter in 2013. The pre-tax profit for the 3rd quarter 2013 included the sale of intangible assets of NOK 20 million and a NOK 40 million write-down of databases, which gave a net negative non-recurring effect of NOK 20 million.

The company's principal operations are focused now on the Nordic region and the UK, where the company has had a strong market position over time. A stronger concentration of the company's resources, combined with a more concentrated focus on special products and customer segments is expected to provide growth, better margins and more predictable earnings.

The company will also assess new development- and business opportunities in which the company, through various forms of partnership, can exploit its expertise in combination with access to partners' resources. This can create a foundation for growth with lower investment needs.

The company's balance sheet is acceptable. The equity ratio is 44 per cent, the company's current ratio is good, and the company has no ordinary interest-bearing liabilities. The net interest-bearing cash position is NOK 29 million.

distributed by