AND International Publishers NV (ticker

AND.AS) publishes its half year results and trading update - Seite 2

We are on track with product releases such as GeoCoder, MapTiler, GeoBoundaries - new API suites which will help us attract the interest of developers and tech companies. We continue to improve our operations by overcoming legacy processes. Due to the pandemic and well-established competition, our direct API sales have not materialized in the reporting period.

The TalkingMaps project, which generates monthly updated authoritative speed limits in cooperation with several provinces in the Netherlands, is now entering its next phase when we will add lane marking recognition features.

We are starting to see traction from our premium products built around safety & sustainability: in the first half of this year, a project with a large tech company led to the development of our new Eco Alert Zones.

Looking forward, we are continuing to focus on the above mentioned three pillars - a strategy which enables us to sustain a strong momentum with our existing client base whilst creating new opportunities in other verticals and markets.

FINANCIAL SUMMARY HALF YEAR 2020 RESULTS

• Revenues over the first half year are up by 22% to €704 K;
• Operating result improved by 33% to a loss of €656 K, compared to a loss of €981 K in 1H 2019;
• Net result after tax improved by 19% to a net-loss of €598 K;
• Net cash-flow from operating and investing activities equals an outflow of €640 K Euro, an improvement of €88 K versus last year;
• Consolidated cash-position equals €1,031 K (June 30, 2019: €1,466 K).

OUTLOOK FOR THE FULL YEAR 2020
For the full year 2020, AND expects to generate a revenue in the range of €1,550 K to €1,900 K, which represents a year over year growth in the range of 46% to 79% compared to 2019 revenue. This is expected to result in an operating loss in the range of €1,400 K to €1,100 K, a net loss in the range of €1,100 K to €900 K and a cash outflow in the range of €1,250 K to €950 K.

KEY FIGURES

 

FINANCIAL POSITION
AND is turning its business around from being an automotive map supplier focused on one off large deals, to a location-aware content and service provider with a subscription based “data as a service model”. This transition requires investment in product development and in sales and marketing. The convertible loan closed in February 2020 has provided the funding to kickstart and implement this process. However, additional funding will be required in the second half of 2020 to enable AND to grow with its new business model into a cash generating and profitable organization.