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Comrod Communication ASA Q3 Presentation Oslo, 26th. October 2007

Comrod Communication ASA Q3 Presentation Oslo, 26th. October 2007. Eirik S. Larsen, CEO Kari Duestad, CFO. Highlights Q3. Strong growth in revenues Good financial results driven by revenue growth and strong operating performance Improved results in the Antennas area as expected

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Comrod Communication ASA Q3 Presentation Oslo, 26th. October 2007

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  1. Comrod Communication ASAQ3 Presentation Oslo, 26th. October 2007 Eirik S. Larsen, CEO Kari Duestad, CFO

  2. Highlights Q3 • Strong growth in revenues • Good financial results driven by revenue growth and strong operating performance • Improved results in the Antennas area as expected • Important new contracts secured: • New contract with US based radio producer on antennas in July • Important new contract in September for delivery of masts and antennas to a major French Army communication program • Contract with the Norwegian Army on vehicle antennas to be delivered early next year • Integration process running well

  3. Agenda Introduction Q3 Financials Business Areas Highlights Summary

  4. Comrod Communicaton Group – Company profile • Comrod Communication Group is an international specialist on antennas, masts and power supplies for defense communication applications • Four business areas: • Antennas • Masts • Power Supply • Industrial Products • Leading global market positions within antennas and masts for the defence market • Headquarter and main factory at Tau, Norway. Factory in France; Power division located in Asker.

  5. Four Business Areas Antennas Masts Power Supply Industrial products Defense tactical antennas for handheld radios, man-pack radios and vehicles HF, VHF, UHF, GPS, WLAN, dual band, multi-band Advanced antenna systems for special defense applications • Battery chargers and power supplies for defence radio applications • AC/DC converters • DC/DC converters • Special application power supplies • Insulators and insulating poles • Offshore products • Custom designed structural components. • Tailor-made for niche market applications Telescopic masts, sleeve, manual and motorized versions Masts for LOS and Battlefield Surveillance Advanced Telescopic masts integrated in vehicles, systems for advanced control and unmanned use

  6. Agenda Introduction Q3 Financials Business Areas Highlights Summary

  7. Highlights of the Financial performance in Q3 • Substantial growth in turnover • 65 % in Q3 • 44 % as of Q3 • Growth in EBIT • 31 % in Q3 • 76 % as of Q3 • Antennas Business Area improvement as expected • High order intake

  8. Q3 Main financial results

  9. Q3 Main financial results YTD

  10. Segment information: Turnover per Business Area

  11. Cash Flow Statement

  12. Balance Sheet

  13. Agenda Introduction Q3 Financials Business Areas Highlights Summary

  14. Business Area Antennas - Highlights • USD 10 million contract with Harris Corporation in the US in July • The dominant position of Harris place Comrod in unique position for further growth • High activity in manufacturing to build capacity and ensure deliveries • Production capacity increased at Comrod AS • production manning increased substantially from June • Increased use of external suppliers • Operational performance improving during the quarter • Outlooks are promising for the next coming quarters

  15. Business Area Masts - Highlights • Important French contract secured in September for delivery of masts to French Army LOS systems (3,2m€) • Improvement program running on production in Lerc has established a basis for profitability within the Masts area • Systems related to Battle Field Surveillance emerging as new driver for growth in the market for masts • Outlooks are good for the rest of the year

  16. Business Area Industrial Products - Highlights • Revenue growth related to the offshore application business • Structuring of the production to be finalized within this year • Production capacity is substantially increased for capturing on the high demand within offshore application products

  17. Business Area Power Supply - Highlights • Excellent financial results for the quarter; revenues and profit high above Q3 2006 • New “Compact Power” generation of power supplies are being developed according to plan • High number of tenders being prepared after successfully attending the DSEi exhibition in London • Outlook medium term is good; short term reduction in turnover growth in a transition period between contracts may be seen next quarters

  18. 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 • Full scale prototype on schedule to be airborne within this year • UMS Norway has become Norwegian representative for the US based UAV company AeroVironmet Inc.

  19. Agenda Introduction Q3 Financials Business Areas Highlights Summary

  20. Summary and Outlook • New contracts and increased production capacity secure a basis for further growth into 2008 • Growth in total market expected and market outlook for all business areas is positive. • Integration process in good progress – positive and dedicated efforts from all organizational units • Continued growth expected in the rest of 2007 and beyond

  21. We welcome any questions

  22. www.comrod.com

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