English version - Hexagon Composites ASA

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COMROD COMMUNICATION <strong>ASA</strong> – LISTING ON THE OSLO STOCK EXCHANGE FIGURE:ORDER BOOK AS OF NOVEMBER 2006 Industrial products 18 % Masts 21 % Power 21 % Antennas 40 % 5.6.6 Geographic presence The Company has a strong global presence in a number of countries. Over the past three accounting years, the Company has delivered products to some 300 customers in approximately 65 countries. Comrod AS had customers in 50 countries, whereas Lerc SA had customers in 35 countries (some overlap regarding the countries) over the past three year period. The following figure shows the Company’s worldwide presence. More than 90% of the products manufactured at the Company’s factory in Tau in Norway are shipped abroad. FIGURE:THE COMPANY’S WORLDWIDE PRESENCE The following table shows the Company’s turnover by geographic market for the past three accounting years and for the 3 rd quarter of 2006. 41
COMROD COMMUNICATION <strong>ASA</strong> – LISTING ON THE OSLO STOCK EXCHANGE COMROD’S TURNOVER BY GEOGRAPHIC MARKET 2003 - 2006 (in NOK mill.) per 3Q 2006 2005 2004 2003 Europe 113.1 162.5 89.0 69.9 America 16.7 21.3 10.6 15.4 Asia 4.9 23.9 Other regions 3.1 3.5 7.2 6.4 Sum revenues 137.8 211.2 106.8 91.7 Note: Figures for 2003 and 2004 only include financials for Comrod AS. Figures for 2005 and 2006 are based on proforma financials for Comrod AS and Lerc SA. Power supplies included from March 2006. 5.7 Patents and licences The Company does not rely on any specific patents and licenses, and the Company has not patented its product technology in general. However some special solutions are patented. The manufacturing processes apply well-known technologies combined in a number of ways to form the Company’s high quality products. The Company will always consider patents or trade marking if they believe that it is strategic right and that it will not expose the product for potential copying. As of 30 September 2006 the Company’s French subsidiary, Lerc SA, held a total of 44 patents, of, 6 expires in 2008, 4 expires in 2010 and 34 expires in 2012. 5.8 Research and Development The Company has brought a number of products to the market by R&D projects driven by customer requirements. The Company’s R&D work is based on multi-discipline knowledge, organizational flexibility and a close relationship to end-user needs. In addition to the above mentioned customer based R&D, the Company has developed a number of products based on its on own ideas. The figure below illustrates the typical birth of a new product: FIGURE:TYPICAL BIRTH OF A NEW PRODUCT Idea Identify the need Sales Possible demand Business Management Human Resources Finance / IT QA Customer Satisfaction Engineering / Design Define the solution Productio n Provide the Over the past three accounting years and including the 3 rd quarter of 2006 the Company has spent a total of MNOK 13.8 on R&D divided as follows: 2003: MNOK 2.5 2004: MNOK 3.5 2005: MNOK 3.6 Q3 2006: MNOK 4.2 42
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