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, Feb. 29, 2016 (GLOBE NEWSWIRE) -- 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.
Source: ANDInternational Publishers