Trading update AND International Publishers NV
(Thomson Reuters ONE) -
Capelle aan den IJssel, 15 November 2016 - AND International Publishers NV
realized a strong increase in revenue during the first nine months of 2016
compared to 2015. Net profit for the same period in 2016 limitedly decreased
compared to previous year. AND maintains its expectation to realize, as a
minimum, a significant increase of revenue for 2016 compared to 2015 (? 6,0
million).
AND Chief Executive Officer Hugo van der Linde:" The year 2016 has been
excellent so far. This allows us to continue to invest in our technology,
digital maps and new products. In October Barry J. Glick is appointed as member
of the Supervisory Board of AND by the Extraordinary General Meeting of
Shareholders. His knowledge, experience and network is a valuable contribution
to our plans to further grow in the United States."
Course of events
During the third quarter AND has decided to develop a new product, a database
with detailed postal code areas of the United States. For this product, a multi-
year sales contract has already been signed with a prominent customer. From
2017 this product will contribute to the revenue and results.
In addition, AND has executed several customized orders during the third
quarter. Together with a part of the Dutch government a so called tile server
was delivered. Also, AND 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.
In the third quarter Barry Glick was formally nominated to strengthen the
Supervisory Board. The Extraordinary General Meeting of Shareholders of 10
October officially appointed Mr. Glick as member of the Supervisory Board. He
has been appointed for a period of four years. The Supervisory Board now
consists of three members.
Financial
AND realized a profit in the first nine months of 2016. During the first nine
months of 2016 revenue increased strongly, profit limitedly decreased and EBITDA
showed a significant increase compared to the same period in 2015.
In the third quarter revenue decreased sharply compared to the same period in
2015 and a limited profit was realized. In the third quarter of last year a
large order was realized and for that reason revenue in the third quarter of
2016 is sharply lower compared to the third quarter of 2015.
In the press release of the half-yearly figures AND already noted that AND is
highly dependent on a few large customers and new orders to be acquired and the
timing in the financial year. For this reason, during a given period revenue can
strongly fluctuate compared to the same period in the previous financial year.
AND has no bank debts and a strong cash position.
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 AND maintains its expectation
to realize, as a minimum, a significant increase of revenue for 2016 compared to
2015 (? 6,0 million).
Note for editor, not for publication:
For further information please contact Hugo van der Linde on 0031-10-8851200 or
visit www.and.com
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.
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 Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: AND International Publishers via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 15.11.2016 - 07:16 Uhr
Sprache: Deutsch
News-ID 506934
Anzahl Zeichen: 5180
contact information:
Town:
Capelle a/d Ijssel
Kategorie:
Business News
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