Trading update AND International Publishers NV
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.
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.
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.