Trading update AND International Publishers NV
15 Novembre 2016 - 7:16AM
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
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