AND signs important agreement with navigation company
Rotterdam, 10 May 2013 – AND International Publishers NV has signed an important agreement with a navigation company for the use of worldwide digital maps from AND. This signed contract will contribute substantially to the revenue for 2013. Also following this agreement, AND expects that the revenue for 2013 will already amount to a minimum of € 4 million. AND maintains its expectation that 2013 will be profitable.
Course of events
During the first four months of 2013 AND has generated a lower revenue compared to the same period in 2012. The contract with Navitel in 2012 had a big impact to the revenue in the month of April 2012, and without this impact the revenue over the first four months in 2013 would have been higher than that of 2012. The revenue from the new signed contract will add to the revenue after this period and therefore does not yet contribute to the first four months in 2013. AND made a profit during the first four months in 2013.
During the first quarter AND has worked on the AND LBS Platform. In early April AND has launched this platform for worldwide location based services (LBS). AND provides all the core geospatial technology necessary to power scalable, global LBS services including geocoding, single-line local search, routing and customized maps, with developer APIs for all mobile platforms. This platform fits within the strategy to add geo-intelligence to business processes of customers by using technologically advanced custom solutions.
Outlook for 2013
The economic conditions, market developments and business models in the market for digital maps are still highly uncertain. Also, the new strategy towards providing customized solutions still needs to further prove itself in 2013. The results in 2013 will depend among others on the strength of economic recovery, the developments in the market for navigation and location-based services and the successful implementation of AND’s new direction.
AND expects that the revenue for 2013 will amount to a minimum of € 4 million. AND maintains its expectation that 2013 will be profitable.
Strategy
AND is the independent company in the global map market for digital maps for location based services. This continues to offer opportunities and AND will therefore maintain to further improve and update its existing maps. In addition AND focuses on increasing its value by offering maps and data as part of customized services. AND’s enriched database, combined with sector and industry specific customized services, provides AND the leverage for further growth.
This is a translation of the Dutch press release. In the event of any discrepancy, the Dutch version will prevail.