2. www.vhfgroup.com
The VHF Group is an international holding company with head office our products to ensure that they are suited to the Nordic market
in Oslo, Norway. The companies that form the VHF Group have been and we also do some customisation.
active since the late 1960s. The VHF Group was founded in 1980.
An annual turnover of around Euro 30 millions and 68 employees
The Group was founded in order to improve our marketing profile make the VHF Group one of the largest privately-owned wireless
and our negotiation position in relation to our suppliers. This in turn communications companies in Scandinavia.
has helped us to become more competitive and increase our market
share. The VHF Group has daughter companies in Sweden, Norway, We have a wide range of suppliers and our key contacts include
Denmark and Poland, as well as exclusive agreements with external Icom Inc, Sepura and Falcom Wireless Communication. We
agents in Iceland and Finland. cooperate closely with these suppliers and as a result we have
access to feedback from the market, which helps us to meet the
The focus and area of activity of the VHF Group is wireless commu- ever-changing needs of our customers.
nications. Our core business is the import and distribution of products
and services, as well as related support. Sales to end customers are Together with our suppliers, the VHF Group is looking forward to
handled by our broad network of highly skilled resellers. an exciting future where we are in a position to offer the products
and services that meet our customers’ wireless communication
We are a growth-oriented group of companies with our own compe- needs in most environments and applications – today and tomorrow.
tence within marketing, service, support, logistics, IT and adminis-
tration. We do not conduct costly hardware development and as
such we have been able to create a stable financial platform to relay
on for the future. We do, however, carry out some small changes to

3. FACTS VHF GROUP CUSTOMERS
Residence: Oslo FMV Sveriges Television UCO
Group Managing Director: Jan Foyn FRA Skanska Sverige AB Kriminalvården
Business: Wireless communication Marinen SSC Esrange Skärblacka Bruk
Armén Sjöfartverket Lastas
Turn over: Euro 30 millions
Flygvapnet Tullverket Kalmars Brandkår
Employees: 68 Rikspolisstyrelsen Luftfartsverket Yara
General agent for Icom, Sepura and Post & Telestyrelsen Räddningsverket Veolia
Falcom Wireless Communication ABB Vägverket M Real
Banverket Kockums AB CMP
Cosolidated Financial Statements SwedInt Akzo Nobel Den Britiske Ambassade
The companies in the VHF Group AS
Sida Teracom AB Räddningstjänsten i Halland
Net Income - Euro 30 millions Göteborgs Spårvägar Dansk Beredskabs-
Swedish Radio Supply AB (SE) Billerud AB
Estimated 2006 2007 Sydkraft Telia Mobile AB kommunikation A/S
VHF Communication AS (NO) SJ Frogne Svenska AB Beredskabsstyrelsen
Operating Margin 9,8 % 11,5%
Radiocom Danmark A/S (DK) Nato Swedia Networks Hjemmeværnet
Equity Ratio 33,2% 37,1%
Raytheon Vattenfall Dansk Politi
ICOM Poland Spólka z.o.o (PL) Return of total assets 19,8% 25,8% Finska Järnvägen Hallberg Rassy Forsvarets Materieltjeneste
Current ratio 1,87 1,9 Green Cargo Politiet DONG
Saab Bofors Dynamics AB Tollvesenet Vordingborg Brand og
Utrikesdepartementet Fengselsystemet beredskab
Försvarsmakten Den norske hær - Guldborgsund Rednings-
Securitas Luftforsvaret - Marinen beredskab
Stora Enso DSB (Sivilforsvaret) Lolland Kommune Brand
SAS Siemens væsen
FRO Landbrukssamvirket

4. SWEDEN DENMARK
Swedish Radio Supply AB Radiocom Danmark A/S
+46 54 67 05 00 +45 43 74 44 60
Postboks 1, Oppsal
N-0619 OSLO www.srsab.se www.radiocom.dk
NORWAY
Phone +47 21 55 56 00 NORWAY POLAND
Fax +47 21 55 56 09 VHF Communication AS Icom Polska SP.Z.oo
info@vhfgroup.com +47 21 55 56 00 +48 58 550 71 35
www.vhfgroup.com www.vhf.no www.icompolska.com.pl