Powel ASA are today presenting the results for 1. quarter of 2009. "A revenue growth of 13.7% from the same quarter last year is a result of our strong market position in the Nordic market. We are happy for the positive development, "says CEO Bård Benum in Powel.

The company's revenue in the first quarter of 2009 is 71.6 MNOK (63 MNOK), while EBITDA was 10.9 MNOK (9.1 MNOK). This gives an EBITDA margin for the first quarter of 15.2% (14.4%). EBT was 6.5 MNOK (5.7 MNOK). The company has a strong cash position, with a balance of liquid assets at 142.7 MNOK (104.8 MNOK) at the end of Q1.

Powel has signed a number of new contracts during the quarter, where the largest are with E-CO vannkraft (4 MNOK), KMD / FT-Næt (3.6 MNOK) and Energiselskapet Buskerud (3 MNOK). The segment in Powel showing the highest revenue and profitability is best NIS segment (Network information systems).

The company's strategic focus is to reinforce and further develop the company's leading position in the Nordic countries, and continue to grow within the selected segment outside the region. With continued positive economic development from the operative business and solid financial position, the company is well positioned to exploit the possible structural options in the market.

(Figures in () refers to the same period last year)

About Powel
Powel ASA delivers business-critical software and related services specifically tailored to energy companies and public municipal infrastructure. The company is market leader with their software solutions for Smart Metering, power generation, network-and VA-administration. Powel is headquartered in Trondheim, and has other operations in Bergen, Bryne, Stathelle, Sweden and the USA. Powel ASA was founded in 1996, and is listed on the Oslo stock exchange. The company has 235 employees.

Q1 2009 Report
Q1 2009 Presentation

For more information, see www.powel.com.

Contact:
Bård Benum, CEO Powel, mobile +47 48 16 46 70,

Øystein Sæther, CFO Powel, mobile +47 48 16 45 58,