SIMTRONICS REGAINS MOMENTUM
Simtronics ASA, the Norwegian fire and gas safety company, today posted its third quarter 2009 results. The Company experienced reduced sales and a challenging market also in the third quarter compared to last year. However, operations and performance improved significantly from the previous quarter and Simtronics’ order backlog is record high. “Our main business areas, Detection and Fire Extinguishing saw a positive recovery in the third quarter and performed well. The weakened result is mainly attributable to the Fire Prevention business segment, caused by the difficulties in the shipbuilding industry. The strong order backlog represents a solid basis for performance in the months ahead,” said Simtronics CEO Rune Martini. Simtronics posted sales of NOK 77.8 million in the third quarter. This is a 16 per cent decrease from the third quarter of 2008, but an 11 per cent increase from the previous quarter. EBITDA came in at NOK 2.8 million, down from NOK 8.4 million last year, but an improvement over the previous quarter’s NOK -0.9 million. For the first nine months of 2009 Simtronics sales were NOK 225.0 million, compared to NOK 262.2 million in the same period last year. EBITDA for the first nine months was NOK -4.9 million, compared to NOK 27.5 million last year. Earnings before taxes came in at NOK -21.4 million, while the corresponding figure last year was NOK 14.4 million. Despite challenging markets, Simtronics ended the period with an order backlog of NOK 211 million, which is the Group’s highest order backlog ever. “We see that many customers who postponed investments due to the economic slowdown are now moving forward with their projects. The general market trend and our strong order backlog make us cautiously optimistic for the fourth quarter and 2010,” Simtronics CEO Rune Martini said. For further information, please contact: Mr Rune Martini, CEO, Simtronics ASA Phone +47 48 07 80 80 www.simtronics.eu Simtronics ASA (Oslo Stock Exchange: SIMTRO) works to prevent disasters from happening. The company is an international supplier of fire and gas safety systems, active fire fighting solutions and fire prevention systems. Simtronics' flame and gas detectors represent the most accurate, reliable and robust safety technology available. The Company's products, solutions and systems are used by the oil and gas industry as well as in shipping, petrochemical and other process industries and in mining. Simtronics has a well established market base in Europe with Norway, France, UK and Germany as the single most important markets. Simtronics' heritage goes back to 1948.