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Oslo, 13th. February 2008

Oslo, 13th. February 2008. Eirik S. Larsen, CEO Kari Duestad , CFO. REACHING FURTHER THROUGH PEOPLE AND INNOVATION. Comrod Communication ASA Q4 Presentation. Increased profitability and strong growth. AGENDA. Q4 highlights and introduction Q4 Financials Business Areas Highlights

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Oslo, 13th. February 2008

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  1. Oslo, 13th. February 2008 Eirik S. Larsen, CEO Kari Duestad, CFO REACHING FURTHER THROUGH PEOPLE AND INNOVATION ComrodCommunication ASAQ4 Presentation Increased profitability and strong growth

  2. AGENDA Q4 highlights and introduction Q4 Financials Business Areas Highlights Summary

  3. HIGHLIGHTS Q4 Strong growth during the fourth quarter • Growth based on market foothold established over the last years. • Trend confirmed during the first part of Q1 2008. Significant results improvement • EBIT of NOK 13.5 million in Q4 and NOK 29.5 million for 2007 in total • All business areas are again profitable Successful ramp up of production capabilities increases operational flexibility Strengthened relations to key customers Positive market outlook based on leading market position and new product launches

  4. COMPANY PROFILE A leading player within the global markets for advanced tactical antennas, masts, power supply and related industrial products COMROD COMMUNICATION GROUP No.1 globally on tactical antennas Leading market positions within defense masts and power supplies Preferred supplier to the major defense radio communication manufacturers World wide sales to more than 60 countries. Headquarter and main factory at Tau, Norway. Factory in France; Power division located in Asker Current turnover about 300 million NOK and about 230 employees

  5. BUSINESS MODEL AND STRATEGIC TARGET

  6. AGENDA Q4 highlights and introduction Q4 Financials Business Areas Highlights Summary

  7. HIGHLIGHTS OF THE FINANCIAL PERFORMANCE IN Q4 Substantial growth in turnover • 53 % in Q4 • 47 % as of Q4 Significant growth in EBIT • 31 % in Q4 • 52 % as of Q4

  8. Q4 MAIN FINANCIAL RESULTS

  9. Q4 MAIN FINANCIAL RESULTS

  10. SEGMENT INFORMATION: TURNOVER PER BUSINESS AREA

  11. CASH FLOW STATEMENT

  12. BALANCE SHEET

  13. AGENDA Q4 highlights and introduction Q4 Financials Business Areas Highlights Summary

  14. BUSINESS AREA Comrod antennas for the defence/ military market and for civilian/commercial use. ANTENNAS – HIGHLIGHTS Improved financial results driven by growth in turnover and improved efficiency Increase in deliveries on contract with Harris Corporation in the US • The dominant position of Harris place Comrod in unique position for further growth New antenna contracts secured • New contract in October on new multiband antenna to major NATO country; NOK 12,7 mill. • Contract with Norwegian Army in October on vehicle antennas; NOK 6,7 million Ramped up production at Tau factory; output capacity now doubled compared to 2006 Factory in Hungary acquired for added operational flexibility and to secure future profitability High sales expected also in the first quarters of 2008

  15. BUSINESS AREA Telescopic, sleeve, man-pack, manual and motorized masts. MASTS – HIGHLIGHTS Business Area Profit improvement through improved operations confirmed by Q4 excellent EBIT margins New level for annual turnover established; 2007 turnover was twice the turnover of 2006 Agreement with THALES on streamlining supply chain Increased use of systems related to Battle Field Surveillance and Line Of Sight main driver for the growth in the market for masts Existing contracts and order book indicates continued good sales in first half of 2008

  16. BUSINESS AREA Custom designed products for commercial and military applications INDUSTRIAL PRODUCTS – HIGHLIGHTS Improved profitability through 2007 by successful restructuring of production Revenue growth related to the offshore application business Production capacity is substantially increased for capturing on the high demand within offshore application products Insulator products profitability improvement program started

  17. BUSINESS AREA Experience from more than 130 OEM projects worldwide. POWER SUPPLY – HIGHLIGHTS Excellent financial results for 2007 First new contract with new customer secured; Contract on new 8 position battery chargers with Harris Corp in the USA. • Contract value: • Start of deliveries: Outlook medium term is good; short term reduction in turnover growth in a transition period between contracts may be seen first half of 2008

  18. Comrod Communication ASA - 70% of the shares in UMS UMS NORWAY – UNMANNED SYSTEMS Development and sales of UAVs (Unmanned Aerial Vehicles) Targeting the rapidly increasing demand for tactical UAVs in the defense and civil markets Investments to date are limited Full scale prototype to be airborne within March this year, followed by a period of operational tests

  19. AGENDA Q4 highlights and introduction Q4 Financials Business Areas Highlights Summary

  20. SUMMARY AND OUTLOOK Significant improvement in EBIT for Q4 and for the year in total Strong growth in turnover Operational improvements achieved as planned and capacity flexibility established Integration process is in good progress – motivation from achieving real results together Strong market foothold and total market growth indicates high turnover levels also in 2008

  21. REACHING FURTHER – THROUGH PEOPLE AND INNOVATION Thank you for your attention, any questions are welcome. www.comrod.com

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