JNEO Journeo Plc

RNS REACH ANNOUNCEMENT

3 October 2024

Journeo plc

("Journeo, "Company" or "the Group")

Contract award in Denmark

Journeo plc (AIM: JNEO) a leading provider of information systems and technical services to transport operators and local authorities, is pleased to announce that its Danish subsidiary, Journeo AS has been awarded a contract with Umove following their award of a public transport contract with Trafikselskabet Movia.

The initial contract period runs for 6-years through to 2031, but this may be extended by two 4-year optional extensions to 2039.

Trafikselskabet Movia is the public transport agency responsible for buses and local railways in Zealand. It does not own any buses and trains itself, but pays fleet operator subcontractors, such as Umove to run them.

Umove was founded in 2013 and has grown to become Denmark's largest privately owned public transport operator with 650 buses and 1,600 employees. Umove won Movia's A23 tender and will operate over 230,000 timetable hours.

Journeo will deliver a range of Intelligent Transport Systems and services on 58 buses including fleet management software, Voice over IP communications, real-time destination signage and passenger infotainment software.

Engineering and installation works worth approximately £0.5m in revenues will be completed next year, prior to the buses entering revenue service in October 2025. The software licenses and recurring monthly SaaS revenues are expected to generate a further £0.4m during the initial contract period.

Russ Singleton, Chief Executive Journeo said: "I am delighted that Umove have selected our technology, software and services for the 58 electric buses that will operate in Ringsted, Kastrup and the Greater Copenhagen area. This award builds on the existing relationship with Umove where our Danish team already provide similar services on over 430 Umove buses".

A digital copy of this announcement will be available on the Group's website: www.journeo.com.

For further information, please contact:

Notes to editors:

Journeo plc is a leading Intelligent Transport Systems provider, delivering solutions in towns, cities, airports and the public transport networks that connect them. The Company works extensively with local and combined authorities, Network Rail and many of the largest multinational transport operators, supporting them as systems converge towards a more efficient and sustainable future.

The business currently has five operating companies:

·    Journeo Fleet Systems Ltd: CCTV video surveillance to improve passenger & driver safety, telematics for vehicle and driver performance monitoring, real-time communications for remote condition monitoring and automatic passenger counting.

·    Journeo Passenger Systems Ltd: design, manufacture, installation, and management of hardware and software for electronic public transport information systems, in and around towns, cities, ferry terminals and airports which includes smart-ticketing and wayfinding.

·    Infotec Ltd: design, advanced manufacture, installation and software management of information displays hardware for rail applications in stations, on-platform and on-vehicle.

·    Journeo A/S (based in Aarhus, Denmark): full-service provider of Intelligent Transport Systems ("ITS") with customers in Denmark, Sweden and Iceland.

·    Journeo AB (based in Stockholm, Sweden): technical services provider to public transport customers in Sweden.

In the last 4 years, the Company has invested over £6million in research and development, enabling it to design and supply powerful innovative solutions for customers' complex requirements and the demands of modern public transport. With an Internet of Things ("IoT") approach and open standards, together with field-proven and reliable engineering, Journeo is able to offer flexible, scalable products and services that can integrate with existing technology while preparing for future advancements.