We are currently finalizing the budget for 2009, which is looking very promising.
This will be communicated in the next Investor Newsletter after the Board has approved this later this month. We are taking into consideration the difficult business environment looming for 2009, but our value proposition is to help big brands saving money by implementing global marketing campaigns “the new way” through our proven SaaS software; Brand master attached with our professional services on smart online and offline ad templates creation. We have seen examples of companies cutting 70 % of their ongoing software
projects, but increasing their effort on implementing our Brand master Software to be more cost efficient on a day to day basis. The global rollout of Brand master for the Daimler Group is a great reference and we have invested in more senior software sales staff in the UK to capture the opportunity we foresee in 2009.
Overall, we have 50 major customers and over 15.000 marketing executives worldwide using the system.
Our service department on the creative side has very strong relationships towards Universal, Paramount, EA, and many others. The latest additions in our portfolio are Sony Play station, Harrods and Vodafone.
Vertical Group ASA has already almost secured the entire Q1 2009 budget cash flow for approximately NOK 20 Mill. We are targeting towards 2009 an overall 30 % growth versus 2008 levels, with a 20 % operating profit.
We are currently in discussions with industrial players as well as our AIM brokers with the objective to seek exit opportunities for Vertical Group shareholders within 2009.
