In 2007 we saw a substantial growth in our turnover by about 80%. A growth in turnover, workshop-space, employees and contractors. A growth in production, but more significant is the relatively large growth in special contracts such as: consultancy, blade adaptation and delivery of parts. Geographically, the turnover, across the board, has seen an equal growth.



Another good development is that certain innovations have taken place. A redesign of the rotor blades has been introduced, to prevent damage in the long term. Also, new resources have been introduced to improve the quality of the products as well as being less harmful to man and environment.

To improve the financial insight, to simplify the administration and to make it cheaper to run. NGup Holding and NGup Service have merged. There is now only one NGup Rotor Blades. The financial position has also strengthened. The Solvency has been improved by the profits made and by converting a loan into owner’s equity.

Looking forward
We hope that 2008 will be as successful as the previous year. Looking at the number of enquiries and the size of the order-book, a growth of 25% should definitively be possible.
In 2008 we will direct our attention to expanding our production facilities. We are considering to start a production facility in Eastern Europe around the middle of 2008. The servicing sector will also be reinforced, by employing experienced service-engineers, who can carry out on-site inspection and repair work.

Should, unexpectedly, the growth be more than 35% and a large production facility is to start in Eastern Europe, then suitable financial measures will be taken in order to keep solvency and liquidity at the correct levels. The issuing of shares to a strategic investor is one of the possibilities.

The most important points for 2008 will be: quality, margin and innovation. All this efforts will be directed towards continuity and customer satisfaction. The necessary organisational and procedural measures will be taken in order to achieve this.