Trading update AND International Publishers NV
AND signs agreement to create premium navigation map USA and Canada and makes a payment to its shareholders
Rotterdam, 13 May 2014 – AND International Publishers NV has signed an important agreement with an established company in the navigation market to create a high quality navigation map of the United States and Canada. Based on this contract, and the positive results for 2013, AND decided on 9 May to make a payment of 372.714 euro from its reserves to its shareholders. AND maintains its expectation that 2014 will be profitable.
AND Chief Executive Officer Hugo van der Linde: “Again this year had a positive start, this time with the important agreement to create a high quality navigation map of the United States and Canada. Therefore we maintain our expectation that the financial year 2014 will be profitable.”
Course of events
During the first four months of 2014 AND has realized a profit. Revenue and profit decreased compared to the same period in 2013.
Early 2014 AND signed the first contracts within the track and trace market. AND has developed the AND Trip Registration Platform which is based on the AND LBS Platform. This track and trace solutions module consists of a mapping API and accurate (reverse) geocoding based on the AND proprietary maps.
At the Mobile World Congress in February AND brought its mapping and location services to Ubuntu with an easy to use mobile application. AND developed a map viewer with the proprietary AND navigation maps of Europe to start showing the capabilities of AND for Ubuntu on phones.
End of April AND signed an important agreement with ALK Technologies Inc. from Princeton to create a high quality navigation map of the United States and Canada. For 2014 AND expects this agreement to already contribute substantially to its turnover and results.
This established navigation company will contribute its own navigation map of the United States and Canada, which is already extensively used within various navigation applications, systems and logistic solutions. AND is entitled to deliver the map to third parties.
Together with its current Western European navigation map AND will double its coverage of navigation maps. With this increase in coverage AND expects to further attract global customers.
The upgrade and enrichments program is planned to run until mid-2015, however parts of the improved maps will become commercially available before the fourth quarter in 2014.
Based on the agreement for the creation of high quality navigation maps of the United States and Canada, and the positive result for 2013, the Executive Board and Supervisory Board of AND International Publishers NV approved the payment of 372,714 euro from its reserves. This payment corresponds to 0.10 euro per share. In accordance with the Articles of Association the statement of assets and liabilities will be filed within eight days after this approval at the Chamber of Commerce.
Outlook for 2014
The year 2013 was a good year again for AND. Despite the progress made, the economic conditions, market developments and business models in the market for digital maps are still highly uncertain. The results in 2014 will depend among others on the strength of economic recovery, the developments in the market for navigation and location-based services and the successful implementation of AND’s new direction. AND expects the agreement for the creation of high quality navigation maps of the United States and Canada will already contribute to its turnover and result in 2014. AND maintains its expectation that 2014 will be profitable.
AND is the independent company in the global map market for digital maps for location based services. This continues to offer opportunities and AND will therefore maintain to further improve and update its existing maps. In addition AND focuses on increasing its value by offering maps and data as part of customized services. AND’s enriched database, combined with sector and industry specific customized services, provides AND the leverage for further growth.
This is a translation of the Dutch press release. In the event of any discrepancy, the Dutch version will prevail.