Final full year figures 2010 AND International Publishers NV
(Thomson Reuters ONE) -
Revenue grows with 40%, net profit 69% up
· Revenue 2010 ? 7 million compared to ? 5 million in 2009
· Net profit 2010 ? 2.5 million compared to ? 1.5 million in 2009
· Operating result 2010 ? 3.8 million compared to ? 1.7 million in 2009
· Earnings per share 2010 ? 0.66 compared to ? 0.43 in 2009
· AND forced market breakthrough for navigation on iPhone
· New digital maps of Western Europe and Northern America
Rotterdam, 19 April 2011 - AND International Publishers NV has realized a strong
growth in revenue and profit in 2010. Revenue grew by about 40%, while net
profit rose by 69%. Earnings per share rose from ? 0.43 to ? 0.66. AND reached
important commercial success by closing multiple contracts for the sale of
digital maps for turn-by-turn navigation.
AND Chief Executive Officer Maarten Oldenhof: "We have always said that the
smartphone takes an increasingly important role in the lives of people. The
enormous increase in the use of smartphones, sales increased by 72% compared to
2009, offered AND new opportunities. Through our successful partnership with for
example Navmii, AND forced a market breakthrough in the European navigation
market."
Course of events in 2010: Commercial success
An important milestone for AND in 2010 was the introduction of navigation on the
iPhone with the British Navmii. The navigation app was offered for a
breakthrough price of ? 3.99 in the app store from Apple. Many country versions
of the software have been launched in 2010 for the iPhone, followed by versions
for the iPad. The app reached the number one position across all paid for
applications apps in several countries. With the breakthrough price the app is
the one of the best selling navigation products in iTunes.
In November, AND signed a contract with NNG (Nav N Go), known for iGO My way
navigation, for the use of the navigation maps of Western Europe. The iGO My way
software is already installed in millions of navigation devices worldwide. NNG
sells private label PNDs and smartphones for mobile navigation throughout
Europe.
Product development
In 2010 AND continued to work on the production of the navigation map of Western
Europe, the digital map of North America and a global geocoded Points of
Interest (POI) database.
The last Western European countries Norway, Italy, United Kingdom and Ireland
have been released in 2010. Now all sixteen countries of Western Europe have
been mapped.
In November AND has released the digital map of Canada and the United States.
This vector map can be used for geocoding, map viewing, route planning, etc.
This map is very suitable for online companies, social networks, blogs, etc.
In December, AND launched a comprehensive, fully geocoded Point of Interest
(POI) database. This database contains 2.5 million points and areas.
Map 2.0
Shortly after the earthquake in Haiti AND released a digital map of the island
which is freely available to all parties who assist in relief efforts, recovery
and rebuilding. This map is available as raw data in Shape format, via the
Internet (Map 2.0) and as an app for the iPhone (iMaps Haiti).
Financial position
As in 2009, AND had no bank debts at the end of the year. Shareholders' equity
amounted to over 89% of the balance sheet total. Besides the positive
development of revenue, AND significantly reduced its cost base in 2010. Total
operating expenses have decreased with about 2.8 million. Last year investments
in the development of new maps could be reduced since the coverage for Western
Europe is ready.
This year AND prepared for a lawsuit because of a dispute for the delivery of
maps of the United Kingdom. However a settlement has been arranged. Revenue
includes a material amount for this settlement.
In September 2010, the act of the amendment of the articles of association, as
agreed on 18 May 2010 on the General Meeting of Shareholders, has passed. This
amendment contained the reduction of the nominal value of the AND shares.
Because of the lowering of the share capital it is easier for AND to pay
dividend, because the company's equity will rise faster above the issued share
capital and the legal and statutory reserves.
Market trends
Navigation and location-based services are becoming a commodity. One out of five
phones is now a smartphone. These developments offer great opportunities for
AND. In 2010, many new navigation apps for smartphones in different price ranges
became available on the market.
The popularity of app stores are a major contribution to the success of
smartphones. In iTunes, the app store from Apple, navigation apps belong to the
category with the most revenue. In addition, in-app purchases for navigation
software is very popular, such as traffic info and speed cameras.
In 2010 social media have made their entry into the location-based services
market. Check in services such as Foursquare, Gowalla rapidly gain popularity.
Facebook has also launched its location service Places. AND expects a further
roll out in 2011 and more than half a billion people will be introduced to
location-based services. To respond to this development, AND launched a global
gocoded POI database at the end of 2010. POI's are a great anchor to add
context. The addition of relevant context to a POI, such as weather,
demographics, location recommendations and patterns it is easier to provide
relevant information and advertisements to the user.
Strategy
AND provides digital maps for location-based services and is the only
independent company in the global mapping market. The company focuses on the
further development of its advanced database to position itself even more
effectively in the market. The company joined forces with EMG (China) and Orion
(Dubai). The companies carry out a feasibility study to create a Global Digital
Mapping Alliance (GDMA).
Outlook for 2011
The economic climate, market developments and business models are all very
uncertain in the market for digital maps. The development of the results in
2011 will depend on the strength of the economic recovery and developments in
the market for navigation and location based services. Therefore, AND is not in
the position to provide an outlook for the full year 2011.
Risks
For a detailed description of the risk factors applicable to AND International
Publishers NV and its subsidiaries, reference is made to page 14 of the Annual
Report 2010.
The Annual General Shareholders' Meeting takes place at 31 May 2011 in
Rotterdam. For a detailed explanation of the figures reference is made to the
financial statements on www.and.com 2010.
Rotterdam, 19 April 2011
Chief Executive Officer
M.P. Oldenhof
This is a translation of the Dutch press release. In the event of any
discrepancy, the Dutch version will prevail.
_________________________________________________
For more information
Contact: Maarten Oldenhof (CEO), Tel.: +31 10 8851200 or check www.and.com
For full press release including financial statements click this link:
http://hugin.info/132841/R/1507338/442154.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters 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 Thomson Reuters ONE
[HUG#1507338]
Unternehmensinformation / Kurzprofil:
Datum: 19.04.2011 - 07:16 Uhr
Sprache: Deutsch
News-ID 53683
Anzahl Zeichen: 8531
contact information:
Town:
Rotterdam
Kategorie:
Business News
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