Annual report 2008 - Comrod

MESSAGE FROM PRESIDENTFurther growth in 2008!Niklas Hermansson,President and CEOSolid growthDear customers, owners, investors andpartners, thank you very much for theconfidence you have shown in us during2008. We have experienced strongdevelopment in our main business areas,Antennas and Masts. This is very positive andconfirms our position.I’m pleased to report that in the fiscal year2008 revenues grew by 27%, to NOK 369million and our EBIT was 8.3%, NOK 30.7million.Organization2008 has been an interesting and solidyear for the Group; it has proved that theorganization is well positioned for growthand I would like to thank all employees fortheir positive contributions. Without you wewouldn’t have succeeded.Comrod UK/India bridgeheadsAs a part of our growth strategy we realizethat certain regions are critical to securingbusiness. One of these countries is theUnited Kingdom and during the year weestablished our own company with a branchoffice in India. All our new colleagues haveseveral years of experience from the defenceindustry; we welcome them to the Group.R&D/innovationThis is a key element of future success andone of the most important aspects of theGroup. We realize that time to market for newstandard COTS (commercial off the shelf)products is critical for future success.ProductionThis is another important element of ComrodCommunication Group’s success. We will beup-front to stay ahead of our competition tomaintain our global position.UMS Norway ASWe have completed the first phase of thisproject. Capital will be required to achievefuture goals and we are actively looking forstrategic or financial partners for the nextphases of the project.Looking aheadAs we look forward, you can expect ComrodCommunication Group to continue itstraditions of technological innovation,enhancing production skills and focusingintensely on our customers’ requirements aswe seek new opportunities for growth for ourshareholders.Customers/qualityTogether with our demanding customersaround the world we have developed a solidproduct mix with a superior quality thatprovides good organic growth and high addedvalue for the customer.Niklas HermanssonPresident & CEO8 Comrod Communication Group Annual report 2008