Trading update AND International Publishers NV
May 12 2016 - 12:31AM
AND's revenue and profit show sharp increase in the first
four months of 2016
Capelle aan den
IJssel, the Netherlands - 12 May 2016 - AND International
Publishers NV realized a sharp increase in revenue and profit in
the first four months of 2016. The license agreement with one of
Europe's largest Internet companies, closed in February 2016,
contributes substantially to the increase in revenue and profits.
The company maintains its previous guidance for the full year
2016.
AND CEO Hugo van der Linde: "AND
will continue on the chosen path in 2016. This means that we shall
continue to invest in our digital maps so as to expand our coverage
and improve quality. In addition, we are in the process of opening
an office in the United States later this year to grow in this
important market. We are currently in discussions with candidates
to set up this office. This year AND has executed a number of
customized projects in the Netherlands. Together with a department
of the police AND developed a map tile server including specific
points of interests. In another project, AND has worked with a
client to support their map features. I am also pleased that we can
pay a dividend to our shareholders in respect of the 2015 financial
year. It is our intention to pay dividends on a regular basis in
the years ahead. "
Course of
events
In January the production of the high quality premium navigation
map of Canada was completed. This completes the upgrade and
enrichment program for high quality premium navigation maps of
North-America. AND more than doubled the coverage of AND's
navigation maps.
In February, AND entered into a
material agreement to license mapping data with one of the largest
European internet companies. The license agreement includes AND's
worldwide digital maps.
As previously reported this year,
AND has suspended talks until further notice regarding exploratory
talks with multiple companies about a possible offer for all AND
shares. AND will provide further information when applicable, in
accordance with applicable laws and regulations.
In April, AND announced a
licensing agreement with CycloMedia. This empowers AND's capability
to deploy data generated by cars in its digital maps. In 2016 AND
starts a pilot project. This step enhances AND's growth prospects
in the automotive sector, which is on the brink of new developments
driven by technology and an important user of digital maps.
In addition, AND announced that it
has been enrolled as a member of ADASIS, a platform for car
manufacturers and map makers to standardize interface between
in-vehicle ADAS (Advanced Driver Assistance Systems) applications
and map data sources. Partners of ADASIS include car manufacturers
(like BMW, Daimler, FORD, Honda, Renault, Toyota, Volkswagen and
Volvo) and map makers (like HERE and TomTom).
Future trading
updates
In January the Dutch legislation changed with regards to the
obligation to publish quarterly trading updates. AND has decided to
stop the publication of the trading updates starting the financial
year 2017. AND is a small fund and being a listed public company
requires relatively much costs and management attention. Ceasing
the publication of trading updates will contribute to reduce these
costs and make more time available for management to focus on
operational topics.
AND values good communication with
investors and will continue to directly communicate to the market
as and when required.
Outlook for
2016
AND company is positive about the new opportunities presented by
today's rapidly changing technological possibilities and market
developments, including the automotive sector. The end of February
2016, AND signed an important license agreement with one of
Europe's largest Internet companies to use its digital mapping and,
as a consequence of this, the company has guaranteed a revenue of
at least €6.5 million in 2016, representing a marked growth in
revenue compared with 2015.
Strategy
AND is the only independent player in the global map market
offering digital mapping for location-based services. This creates
good opportunities and AND will accordingly be improving and
expanding its existing maps even more effectively. AND will also be
focusing on increasing the added value which it offers by providing
its maps and data as customized services.
Note for editor, not for publication.
For further information please contact Hugo van
der Linde on 0031-10-8851200 or go to www.and.com
This is an English translation of
the Dutch press release. In the event of any disparity between the
Dutch original and this translation, the Dutch text will
prevail.
The qualification regarding
revenue growth used in this press release is based on the
terminology from the scale of Mock.
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
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