REPORT FOR 3RD QUARTER 2014

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 op-erations 
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 ex-pertise 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.

For further information please contact the CEO, 
Dirk Blaauw, on tel. +47 22 13 19 23.