3rd Quarter Results 2009; Strong Improvements

3rd Quarter Results 2009; Strong Improvements Key results: Positive EBITDA (MEUR 5.4) for the first time since 3rd quarter 2008 due to the effects from continuous cost improvements during 2009 supported by higher revenues. Revenues at MEUR 157 were above previous two quarters due to stronger growth in several market segments partly driven by incentive programs. Low stock levels in the market have pushed the production volumes to fill the pipelines. Continue to improve net working capital ratio. Refinancing of the balance sheet completed. Raised MEUR 159 in gross proceeds from share issues. Expect 4th quarter revenues to be around MEUR 165. For more details see enclosed interim report. Contact details: Olav Volldal President and CEO Phone:+4732770500. Mobile:+ 4798214014 Trond Stabekk CFO Phone: +4732770500. Mobile: +4798214054

Tags: