Positive operating margins in a continued challenging market The company's revenues and profitability were equivalent with last year in the 2nd quarter. The two first quarters of the year have also been marked by continued macroeconomic unrest in many of the markets in which Blom operates. Public sector customers, particularly in certain southern and central European countries, also showed a significant decline in demand in the first two quarters of the year. The profit-enhancing measures implemented have to some extent compensated for a continued challenging market situation. The company recognized revenues of NOK 140 million for the 2nd quarter, compared with NOK 138 million for the same quarter in 2011. EBITDA for the quarter was NOK 22 million, compared with NOK 21 million for the corresponding quarter in 2011. This corresponds to an EBITDA margin of 15.8 per cent, compared with 15.5 per cent for the 2nd quarter of 2011. The operating profit for the quarter was NOK 7.5 million, compared with NOK 6.5 million for the same period in 2011. Revenues for the 1st half year totalled NOK 234 million, compared with NOK 219 million for the same period in 2011. EBITDA for the 1st half year was NOK 12 million, compared with NOK 5 million for the corresponding period in 2011. This corresponds to an EBITDA margin of 4.9 per cent, compared with 2.2 per cent in the 1st half of 2011. The operating loss for the 1st half year was NOK 17 million, compared with a loss of NOK 24 million for the same period in 2011. For further information please contact the CEO, Dirk Blaauw, on tel. +47 22 13 19 20 or CFO Lars Bakklund on tel. +47 22 13 19 34.
Attachments
Blom_2Q_Report 2012