Report on the first six months of 2016 AND International Publishers NV
(Thomson Reuters ONE) -
AND expects at least significant growth in revenue in 2016
* Revenue for first half of 2016 ? 6.1 million compared to ? 1.8 million in
first half of 2015
* Net profit first half of 2016 ? 3.2 million compared to ? 0.7 million in
first half of 2015
* Earnings per share first half of 2016 ? 0.85 compared to ? 0.19 per share in
first half of 2015
* AND expects at least significant growth in revenue in 2016 compared to ?
6.0 million in 2015
Capelle aan den IJssel, 18 August 2016 - Revenue and profit of AND International
Publishers NV sharply increased in the first half of 2016 compared to 2015. AND
realized a revenue of ? 6.1 million and a profit of ? 3.2 million in the first
half of 2016, which resulted in earnings per share of ? 0.85. In May 2016 a
dividend of ? 0.15 was paid from the 2015 results to the shareholders.
AND CEO Hugo van der Linde: "The first half of 2016 has been excellent, also
thanks to the big order which was acquired in February this year. I am excited
that we can welcome Barry Glick as a new member of the Supervisory Board. Barry
is American and has an impressive track record within our sector as executive at
Mapquest, Webraska, Navteq and ALK. His knowledge, experience and network is
also a valuable contribution to our plans to grow further in the United States."
Course of events for the first half of 2016
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.
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).
End of June 2016 AND announced to extend the Supervisory Board to three members.
The very well experienced American Barry Glick, with much experience in the
mapping and navigation sector is nominated to strengthen the Supervisory Board.
At 10 October an extraordinary general meeting of Shareholders will be held. On
the AND website the invitation and agenda for this meeting is available.
On operational level AND has executed several custom orders. Together with the
Dutch police a so called tile server is delivered with specific point of
interests. Also, AND started, worked on and successfully completed various
custom projects which involved accepting total confidentiality with
respect to the client, the work involved and the financials of the
project and is therefore unable to disclose any further details
Financial position
Revenue in the first half of 2016 more than tripled from ? 1.8 million to ? 6.1
million. Revenue from the signed license agreement in February contributed
substantially to the revenue in the first half of 2016. AND is highly dependent
on a few large customers and new orders to be acquired and the timing within the
financial year. For this reason, revenue during a certain period can strongly
fluctuate compared to the same period in the previous financial year.
Total operating expenses increased from ? 2.0 million to ? 2.2 million and
decreased sharply as a percentage of revenue.
In 2015 AND invested substantially in the upgrade and enrichment program of a
high-quality map of North America. This program is finalized in January 2016 and
consequently capitalized development costs decreased from ? 0.9 million to ?
0.3 million. Net operating expenses amounted ? 1.9 million in the first six
months of 2016 compared to ? 1.1 million in the same period in 2015.
The cash position is further strengthened in the first half of the year. Net
cash flow amounted ? 3.2 million positive resulting in a total balance of cash
and cash equivalents of ? 7.7 million as per end of June 2016.
AND solvency remains strong. Shareholders' equity of ? 20.7 million amounts 93%
of total assets. As in previous years AND has no bank debts.
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.
Our plans to realize additional growth through an own office in the United
States are a logical next step to further execute our strategy successfully.
Outlook for 2016
AND is positive about the new opportunities presented by today's rapidly
changing technological possibilities and market developments, including the
automotive sector. Based on the realized revenue of ? 6.1 million in the first
half of 2016 AND expects to realize in 2016 at least significant growth of
revenue compared to 2015 (? 6.0 million).
Risks
For a detailed description of the risk factors that apply to AND International
Publishers NV and its subsidiaries, you are referred to page 12, 13 and 14 of
the annual report for 2015.
Declaration from the Board of Directors
The Board of Directors hereby declares that, to the best of their knowledge:
* the consolidated, interim financial report, which have been prepared on the
basis of IAS 34, Interim financial reporting, give a true and fair view of
the assets, liabilities, financial position and the result of AND
International Publishers NV and the companies included in the consolidation
as a whole; and
* the half year report from the Board of Directors includes a fair review of
the information required pursuant to section 5:25d, subsection 8 and 9 of
the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht)
Capelle aan den IJssel, 18 August 2016
H.F. van der Linde
CEO
+-------------+-----------------------------------------------+
| 2016 | Financial calendar |
+-------------+-----------------------------------------------+
| 10 October | Extraordinary General Meeting of Shareholders |
+-------------+-----------------------------------------------+
| 15 November | Trading update |
+-------------+-----------------------------------------------+
The qualifications used in this press release are based on the terminology from
the scale of Mock.
This press release contains inside information within the meaning of Article
7(1) of the EU Market Abuse
Regulation.
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
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.
For full press release including financial statements click this link:
http://hugin.info/132841/R/2035815/758266.pdf
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#2035815]
Unternehmensinformation / Kurzprofil:
Datum: 18.08.2016 - 07:26 Uhr
Sprache: Deutsch
News-ID 489816
Anzahl Zeichen: 9274
contact information:
Town:
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Kategorie:
Business News
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