Trading update AND International Publishers NV
(Thomson Reuters ONE) -
Rotterdam, 13 November 2014 - AND realized a profit in the first nine months of
2014. Compared to the first nine months of 2013 revenue showed a limited
increase and the profit increased considerably. Based on these results AND
expects for 2014 a higher revenue and profit compared to the year 2013.
AND Chief Executive Office Hugo van der Linde: "We are satisfied with the course
of events in the third quarter of 2014. During the quarter we made further
progress with the development of the navigation map of North-America. The
upgrade and enrichments program is on schedule."
Course of events
During the third quarter AND further invested in the development of a high
quality navigation map of North-America. Earlier this year an important contract
was signed with ALK Technologies Inc. from Princeton. The upgrade and
enrichments program is on schedule and is expected to be completed mid-2015.
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.
Financial
AND realized a profit in the first nine months of 2014. Revenue showed a limited
increase during the first nine months of 2014 compared to the same period in
2013. Profit for the first nine months of 2014 increased considerably compared
to first nine month in the year before.
In the third quarter of 2014 revenue increased compared to third quarter in
2013. The third quarter was closed with a positive result compared to a small
negative result in the third quarter of 2013.
Revenue from the ALK contract for the creation of the navigation map of North-
America provided an important contribution to the overall revenue realized.
Total operating expenses increased considerably during the first nine months of
2014 as a result of the investment in the map of North-America. These costs
spent on the development of the map of North-America have been capitalized and
represent a considerable part of AND's total operating expenses. As a result
AND's net operating expenses strongly decreased compared to 2013.
Strategy
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.
Outlook for 2014
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 the realized results
AND expects revenue and profit in 2014 will be higher compared to 2013.
_______________________________________________________________
Note for editor, not for publication.
For further information please contact Hugo van der Linde on 0031-10-8851200 or
go to www.and.com
The qualifications used in this press release are based on the terminology from
the scale of Mock
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.
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: AND International Publishers via GlobeNewswire
[HUG#1870670]
Unternehmensinformation / Kurzprofil:
Datum: 13.11.2014 - 07:13 Uhr
Sprache: Deutsch
News-ID 352148
Anzahl Zeichen: 4436
contact information:
Town:
Rotterdam
Kategorie:
Business News
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