Stavanger, 20th February 2010

Kadme has achieved its best results ever in 2009, not suffering at all from the recession triggered by the financial crisis.
The revenue growth was an impressive 71% over the year before, reaching 18,699,250 NOK. This was due mostly to an exceptional increase (236%) in sales of our Whereoil technology, including the services delivered for its customization for systems like the National Data Repository of Colombia and the ArcticWeb portal.

Profit after tax (and after the bonus) was 2,639,362 NOK, compared to 220,928 NOK the year before.

“This exceptional growth is the result of the passionate dedication of our employees to the development and delivery of our software and services”, commented Gianluca Monachese, founder and Managing Director of Kadme. “That is why we gave out a bonus corresponding to 15% of the profit, distributed equally among all employees”.

Kadme’s Whereoil technology is now a recognized alternative in the market, especially appreciated by oil companies and organizations that want to obtain a comprehensive overview of all the information at their disposal within one unique, user-friendly interface.

“We now need to scale up and reinforce the organization with more exceptional individuals, to guarantee an even bigger growth in the years to come.” continues Mr. Monachese. “We are starting this process by hiring a new Managing Director, a Service Delivery Manager and a few more Software Engineers”.