Final full year figures 2013 AND International Publishers NV
AND achieves positive and strong results for 2013
in millions of euro (except amounts per share) | 2013 | 2012 |
Revenue | 4.3 | 4.5 |
Operating result | 1.2 | 1.7 |
Net result | 1.2 | 1.8 |
Cash position | 5.5 | 4.2 |
Earnings per share | 0.33 | 0.47 |
Rotterdam, 11 March 2014 - AND International Publishers NV achieved positive and strong results for 2013. AND realized a revenue of € € 4.3 million and a profit of € 1.2 million. Earnings per share amounted to € 0.33 compared to € 0.47 in 2012.
AND Chief Executive Officer Hugo van der Linde: "Like 2012 AND achieved positive and strong results in the financial year. In 2013 a net margin of almost 30% was achieved. These results have further strengthened our cash position. AND has a strong cash position of € 5.5 million at the end of 2013, forming a solid foundation to invest in the future development of AND."
Course of events in 2013
During the first quarter AND worked on the AND LBS Platform. Early April AND launched this platform for worldwide location based services (LBS). AND provides all core geospatial technology necessary to power scalable, global LBS services including geocoding, single-line local search, routing and customized maps, with developer APIs available 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.
Furthermore AND received several orders to build custom solutions based on the rich local data from OpenStreetMap combined with AND proprietary content and technology.
In May an important agreement was signed with an established party in the navigation sector for the use of digital maps of AND. This agreement contributed substantially to the revenue in the first half of 2013.
In the third quarter we continued development of our services for the AND LBS Platform (Location Based Services). A track and trace solutions module is now available. This module consists of a mapping API and accurate (reverse) geocoding solution based on the AND maps.
In addition we developed a custom made solution based on the AND LBS platform for an international provider of mobile phones.
Two solutions for OpenStreetMap for Professional use have been developed. A geocoding and routing solution. The AND map is used as a separate layer to make OpenStreetMap suitable for professional use.
AND made further progress with the use of traces for the purpose of maintaining and enriching its digital maps. AND currently investigates how to enrich and extent its current maps even more ambitiously.
Financial position
Revenue decreased to € 4.3 million, a slight decrease of 4% compared to 2012.
Total operating expenses increased with 12% to a total of € 3.1 million.
This increase results mainly from an increase of share based compensation and amortization of intangible assets. However costs related to maps and sources and personnel expenses remained stable compared to 2012.
Thanks to the achieved results total assets increased by € 0.7 million to € 13.4 million in 2013. As in 2012 AND has no bank debts. By the end of 2013 shareholders` equity amounted to around 80% of total assets.
In 2013 the cash position was further strengthened. The balance of cash and cash equivalents increased by € 1.2 million to € 5.5 million.
Market trends
In recent years the sales and margins of PND players have come under strong pressure. The sales numbers in both the market in Europe and the United States have fallen. This downward trend continued unabated in 2013. This is partly due to the strong continuing growth of smartphones with GPS by which a mass market for location-based services has arisen. There are many applications for smartphones developed in which a map is an additional feature. Also free navigation and location-based services are available. With the advent of free location services also the awareness among companies about the importance of location within their business processes has increased enormously. This provides opportunities for AND to sell more digital maps as well as location intelligence services through the AND LBS Platform.
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 further improve and update its existing maps more effectively. 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.
Outlook for 2014
The year 2013 was a good year again for AND. Despite the progress made, the economic conditions, market developments and business models in the market for digital maps are still highly uncertain. The results in 2014 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 2014 to be profitable again.
Risks
For a detailed description of the risk factors that apply to AND International Publishers NV and its subsidiaries, you are referred to the annual report for 2013.
The Annual General Shareholders` Meeting takes place at 25 April 2014 in Rotterdam. For a detailed explanation of the figures reference is made to the financial statements of 2013 on www.and.com.
Rotterdam, 11 March 2014
CEO
H.F. van der Linde
This is a translation of the Dutch press release. In the event of any discrepancy, the Dutch version will prevail.
For more information
Contact: Hugo van der Linde, Tel. +31 (0)10 8851200, or check www.and.com.
The final figures for 2013 in this press release have been audited
For full press release including financial statements click this link
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Source: AND International Publishers via GlobeNewswire
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