Trading update AND International Publishers NV
Capelle aan den IJssel, the Netherlands – 12 November 2015 – AND International Publishers NV realized a considerable increase in revenue and profit for the first nine months of 2015. Based on realized results AND expects to realize strong revenue growth and a comparable profit in 2015 compared to 2014. In addition, AND has completed the upgrade and enrichment program for the United States and expects to complete the navigation map of Canada in the fourth quarter.
AND Chief Executive Officer Hugo van der Linde: ”We are satisfied with the course of events in the third quarter of 2015. The quarter closed positively and the completion of the high quality premium turn-by-turn navigation map of the United States has been a milestone for both AND and the market for digital maps. This success was even more strengthened by our first license deal so soon after this milestone.”
Course of events
In the third quarter AND has entered into a material agreement to license certain mapping data to a U.S.-based company. The signed contract will contribute substantially to the revenue in 2015.
AND has finished the upgrade and enrichment program of a high quality premium navigation map of the United States of America during the third quarter. The coverage of navigation maps from AND has more than doubled. The first sample data has been offered to interested parties and in October AND signed a contract with one of the leading providers of worldwide planning solutions to supply the high quality premium navigation map of the United States. This first customer licensed AND’s US map after extensive testing.
The upgrade and enrichment program of a high quality premium navigation of North-America started in 2014. AND expects to complete the navigation map of Canada in the fourth quarter which will complete the upgrade and enrichment program for North-America.
AND realized a profit in the first nine months of 2015. Both revenue and profit showed a considerable increase compared to the first nine months of 2014.
AND realized a strong third quarter with a sharp increase in both revenue and profit. The signed contract with the U.S.-based company contributed substantially to the revenue in. third quarter.
AND invested further in the development of the navigation maps of North-America during the first nine months. AND has no bank debts, has a strong solvency and a strong cash position.
AND is the only independent company in the global map market for digital maps for location based services. This offers opportunities and AND will continue to improve and extend its existing maps more effectively. In addition AND will increase its added value by offering its maps and data as customized services. As reported earlier AND currently investigates opportunities to enter the automotive market and further expand its digital map coverage.
Outlook for 2015
The economic conditions, market developments and business models in the market for digital maps are still highly uncertain. The results will depend among others on the strength of economic recovery, the developments in the market for navigation and location-based services. Also AND is still highly dependent on a few large customers and new orders to be acquired.
Based on realized results AND expects strong revenue growth for 2015 compared to 2014. AND expects to realize a profit in 2015 comparable to the realized profit in 2014.