AND realized a profit in the first four months of 2015 and is on schedule to substantially expand its digital maps
Capelle aan den IJssel, 12 May 2015 - AND International Publishers NV realized a profit in the first four months of 2015. Revenue and profit decreased compared to the same period in 2014. The development of the high quality premium navigation map of North-America will be completed in the third quarter. The navigation map of the United States will already be available in the second quarter.
AND Chief Executive Officer Hugo van der Linde: "Again during the first four month of 2015 AND realized a profit. AND expects the enriched navigation map of North-America to be completed within a couple of months."
Course of events
During the first four months AND further invested in the development of a high quality premium navigation map of North-America. The upgrade and enrichment program which started in 2014 is in an advanced stage and will be completed in the third quarter of 2015. The navigation map of the United States will already be available in the second quarter. The coverage of navigation maps from AND will be more than doubled.
In addition AND has executed several customized services and concluded license agreements. For example, together with its client Barloworld Supply Chain Software, part of Barloworld (BAW.JSE), AND has delivered a map in the format of Barloworld. This map can be connected without further editing with the software from Barloworld. As a consequence Barloworld is saving time and costs for development. With the software from Barloworld optimal routes are calculated by which costs and CO2 emission can be limited.
Within another project AND worked together with Ordina and the Dutch Inspectorate of Education to support the search function for their website by using accurate geocodes from schools.
Also AND executed customized services for which AND accepted full confidentiality with regard to client, content and financials and as such cannot provide further information.
Revenue decreased significantly during the first four months of 2015 compared to the same period in 2014. Revenue from the contract for the creation of the navigation map of North-America contributed substantially to the revenue realized.
As a result of the development of the navigation map of North-America AND`s operating expenses increased considerably. Costs spent on this development were capitalized and represent an important part of AND`s total operating expenses. As a result net operating expenses decreased strongly compared to 2014. AND realized a profit in the first four months of 2015. Net profit showed a marked decrease compared to the same period in 2014.