Trading update
AND announces preliminary figures 2009
Revenues 42% higher, net profit 23% up, higher revenues and net profit expected in 2010
Rotterdam, 5 February 2010 - AND International Publishers NV announces higher revenues and net profit in 2009 as a result of the signing of an important license agreement with a large US company for the use of maps of Western Europe.
As a result of the higher revenues, AND has been able to intensify its investments in the development of digital maps for several Western European countries. These investments have resulted in the coverage of a major part of Western Europe by high quality digital maps. In the last months of 2009 5 new countries have been added to AND’s database. Maps of France, Spain, Portugal, Sweden and Finland were completed.
Revenues in 2009 increased to €5.1 million, compared to €3.6 million in 2008. Net profit rose to €1.6 million versus €1.3 million. The weighted average net earnings per share rose to €0.46 versus €0.41 in 2008.
On November 20th the company made a reservation with regard to the outlook for the full year. Part of the revenues from the previously communicated agreement with a major US company, will be booked in 2010 instead of in 2009. This is due to wishes of the client and longer than expected approval procedures for the final execution of specific contract items.
The financial position of AND continues to be very strong. The company had no bank debts at the end of 2009 and a rock solid equity base.
AND forecasts higher revenues and net profit in 2010. AND will publish the final 2009 results on April 20th 2010.
AND is the third largest supplier in its market, but the only independent one. Strengthened by its success to date, the company will continue to focus on creating long-term value for shareholders by providing digital maps for location-based services. The company focuses on the further development of its advanced database to position itself even more effectively in the market. The required investments can be financed entirely from the company’s own capital.
This is a translation of the Dutch press release. In the event of any discrepancy, the Dutch version will prevail. The financial information in this press release has not been issued for accountants review.
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