AND signs important map license agreement with one of the largest European internet companies
29 Février 2016 - 7:30AM
AND realizes strong growth in
revenue and profits in 2015 compared to 2014
AND has already locked in 2016 revenue which
substantiates a marked growth rate compared to 2015
Capelle aan den IJssel, the Netherlands - 29
February 2016 - AND is pleased to announce that it has entered into
a material agreement to license mapping data to one of the largest
European internet companies. The license agreement includes AND's
worldwide digital maps.
The signed contract will contribute substantially to revenue in
2016. As a result of the contract announced today, as well as other
contracts, AND has already locked in revenue for 2016 of at least
€6.5 million. This locked in revenue substantiates marked revenue
growth from the preliminary 2015 revenue figure.
AND Chief Executive Officer Hugo van der Linde: "We are very
excited to see that so soon after doubling our premium coverage
through the completion of the new North American map, we are able
to attract a global customer of this stature. Already 2016 is a
commercial and financial success, and the year only just
started".
Preliminary results 2015
Preliminarily, AND realized 2015 revenue of €6.0 million and profit
of €3.2 million. These figures have not been fully audited yet. AND
realizes a strong growth in revenue and profit compared to 2014.
The final 2015 results will be published on 17 March
2016.
Based on years of momentum in AND's business and accompanying
financial results, highlighted by today's announcement, AND is
reassessing the valuation of the database. AND expects that the
outcome of this reassessment will have a positive impact on the
valuation and subsequently can lead to a reversal of (part of) the
extraordinary impairment loss of the database in 2011. This would
result in a higher profit over 2015, which is not taken into
account in the number mentioned above.
Update regarding exploratory
discussions
AND announced on 2 December, 2015, that it was in early stage,
exploratory conversations with multiple companies regarding a
possible offer for all shares. Given the continuing and recent
positive developments, AND has meanwhile informed these companies
that it is suspending these talks until further notice.
AND Chief Executive Officer Hugo van der Linde: "The developments
after completion of the North America map have further strengthened
our confidence that we are on the right path to innovatively expand
our map database, grow our global customer base and continue growth
of our revenues and profits."
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.
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 qualification regarding revenue growth used in this press
release is based on the terminology from the scale of Mock.
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX 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
HUG#1990018
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