Strong quarter for Roxar

Q4 2008 revenues increased by 23.4% compared to Q3 2008. This growth is driven by better performance in most business segments with a particularly strong growth in Topsides metering and software sales.

Q4 2008 operating profit (EBITDA) was NOK 79.0 million, and this represents an increase of 99% compared to Q3 2008. The company had a positive one-off EBITDA effect (non cash) from converting from a defined benefit pension scheme to a fixed contribution pension scheme of NOK 35.6 million. Adjusted for this one-off effect the EBITDA for Q4 is 9.4% higher than previous quarter. The YE 2008 EBITDA amounted to NOK 219.2 million compared to NOK 112.4 million YE 2007 (proforma), which represents a growth of 95% and a 63% growth if one-off effects are excluded.


For further information, please contact

Even Gjesdal, CFO Roxar ASA +4797789070