Trading update AND International Publishers NV
12 5월 2015 - 2:00PM
AND realized a
profit in the first four months of 2015 and is on schedule to
substantially expand its digital maps
Capelle aan den
IJssel, 12 May 2015 - AND International
Publishers NV realized a profit in the first four months of 2015.
Revenue and profit decreased compared to the same period in 2014.
The development of the high quality premium navigation map of
North-America will be completed in the third quarter. The
navigation map of the United States will already be available in
the second quarter.
AND Chief Executive Officer Hugo
van der Linde: "Again during the first four month of 2015 AND
realized a profit. AND expects the enriched navigation map of
North-America to be completed within a couple of months."
Course of
events
During the first four months AND
further invested in the development of a high quality premium
navigation map of North-America. The upgrade and enrichment program
which started in 2014 is in an advanced stage and will be completed
in the third quarter of 2015. The navigation map of the United
States will already be available in the second quarter. The
coverage of navigation maps from AND will be more than doubled.
In addition AND has executed
several customized services and concluded license agreements. For
example, together with its client Barloworld Supply Chain Software,
part of Barloworld (BAW.JSE), AND has delivered a map in the format
of Barloworld. This map can be connected without further editing
with the software from Barloworld. As a consequence Barloworld is
saving time and costs for development. With the software from
Barloworld optimal routes are calculated by which costs and CO2
emission can be limited.
Within another project AND worked together with Ordina and the
Dutch Inspectorate of Education to support the search function for
their website by using accurate geocodes from schools.
Also AND executed customized services for which AND accepted full
confidentiality with regard to client, content and financials and
as such cannot provide further information.
Revenue decreased significantly
during the first four months of 2015 compared to the same period in
2014. Revenue from the contract for the
creation of the navigation map of North-America contributed
substantially to the revenue realized.
As a result of the development of
the navigation map of North-America AND's operating expenses
increased considerably. Costs spent on this
development were capitalized and represent an important part of AND's total operating
expenses. As a result net operating
expenses decreased strongly compared to 2014. AND realized
a profit in the first four months of 2015. Net profit showed a
marked decrease compared to the same period in 2014.
As reported earlier AND currently
investigates opportunities to enter the automotive market and
further expand its digital map coverage.
Outlook for
2015
The economic
conditions, market developments and business models in the market
for digital maps are still highly uncertain. The results will
depend among others on the strength of economic recovery, the
developments in the market for navigation and location-based
services. Also AND is still highly dependent on a few large
customers and new orders to be acquired. In the course of 2015 AND
expects to complete the enriched map of North-America and to
execute test and pilot projects with prospects and therefore
expects a more substantial contribution to its revenues from this
enriched map no earlier than 2016. AND is positive regarding new
opportunities within the current fast changing technology and
market developments.
AND expects
to realize a profit during the first half of 2015, but expects
revenue and profit to be lower compared to same period in the
previous year. AND is positive about the second half of 2015 but
does not provide a financial outlook for 2015.
Strategy
AND is the independent company in the global map market for
digital maps for location based services. This offers opportunities
and AND will continue to improve and extend its existing maps more
effectively. In addition AND will increase its added value by
offering its maps and data as customized services.
The
qualifications used in this press release are based on the
terminology from the scale of Mock
This is a
translation of the Dutch press release. In the event of any
discrepancy, the Dutch version will prevail.
For more
information
Contact: Hugo van der Linde, Tel. +31 (0)10 8851200, or check
www.and.com.
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: AND International Publishers via
Globenewswire
HUG#1920680
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