Trading update AND
Rotterdam, 14 November 2013 – AND realized a profit in the first nine months of 2013. Revenue and profit decreased modestly compared to 2012. Based on the realized results AND maintains its expectations of a minimum revenue of more than € 4 million for 2013 as mentioned in its half year report. AND will close 2013 profitable.
AND Chief Executive Office Hugo van der Linde: “We are satisfied with the course of 2013. Again we continue a healthy revenue and profitability. We also advanced well in maintaining and enriching our digital maps through our new technology location services and capabilities.”
Course of events
In the third quarter our services for the AND LBS Platform (Location Based Services) have been further developed. A track and trace module is now available. This module consists of a mapping API and accurate (reverse) geocoding solution based on the AND maps.
Two solutions for OpenStreetMap for Professional use have been developed. A geocoding and routing solution. The AND map is used as a separate layer to make OpenStreetMap suitable for professional use.
In addition we developed a custom made solution based on the AND LBS platform for an international provider of mobile phones
AND made further progress with the use of traces for the purpose of maintaining and enriching its digital maps. AND currently investigates how to improve and enrich its current maps even more ambitiously.
AND realized a profit in the first nine months of 2013. Revenue and profit decreased modestly compared to 2012.
The third quarter of 2013 revenue showed a limited increase compared to 2012. As a result the 2012 third quarter loss decreased considerably in 2013.
AND is the only independent company in the global map market for digital maps for location based services. This still offers opportunities and AND will continue to improve and update its existing maps more effectively. In addition AND will increase its added value by offering its maps and data as customized services.
Outlook for 2013
The economic conditions, market developments and business models in the market for digital maps are still highly uncertain. The results in 2013 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.
Based on the realized results AND maintains its expectations pronounced in its half yearly report of a minimum revenue of more than € 4 million for 2013. AND will close 2013 profitable.
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.