SOURCE: AND International Publishers

April 28, 2008 02:23 ET

Further growth in sales and profit expected for 2008

ROTTERDAM, NETHERLANDS--(Marketwire - April 28, 2008) -


AND's profit after tax for the year 2007 exceeds EUR 1.2 million (2006: EUR 688,000)

Rotterdam, 28 April 2008 - As expected, AND International Publishers N.V. finished 2007 with a substantially improved result. Profit after tax almost doubled to EUR 1,219,000 while sales increased by over 20%. Earnings per share rose from EUR 0.23 to EUR 0.39 (diluted, from EUR 0.22 to EUR 0.36). Solvency and liquidity positions continue to be solid.

The company's own favourable performance was outstripped by the relatively spectacular developments in the market itself. The not illogical but, for many, unexpected trend towards vertical integration that led to the proposed acquisitions of cartographer Tele Atlas by TomTom and of Navteq by Nokia have definitively altered the playing field. AND feels comfortable with these developments as, on the one hand, it can develop more easily into a more attractive business partner while on the other hand it is not impossible that it could itself become a candidate for acquisition.

The opportunities for organic growth are further strengthened by the expectation that as well as a continuing strong increase in volumes in the market for Personal Navigation Devices, the 'Online market' will develop strongly in the next few years. It is expected that almost every mobile electronic device will be fitted with GPS capability as standard and this will lead to huge growth in the use of maps. New players will enter this market. Maps are required for all these devices as they are vital to the GPS function.

AND is excellently equipped to serve these new markets provided it accelerates expansion of the coverage of its database. An alliance with a financial or strategic partner will generate the necessary resources and further speed up the process. The best route for all stakeholders is a carefully considered process and so ThinkEquity has been engaged to assist the company in this. Further announcements can be expected during the year on the most promising scenario for the future.

A proposal will be put to the General Meeting of Shareholders to be held on 20 May 2008 to pay no dividend, partly in view of the future capital expenditure needs and opportunities for returns.

On the basis of signed contracts, we expect further growth in sales and results for 2008. It will not be possible to give more specific information on this forecast, which as usual depends on the extent to which we can penetrate existing markets and the speed at which new markets are maturing, until the publication of the half-year figures for 2008 at the earliest.

The financial information in this press release has been drawn from the 2007 financial statements, which have been audited by DRV Accountants en Belastingadviseurs who issued an unqualified audit report on them.

Mr E.T. van Dijk has announced that he will be standing down from his position as Supervisory Director. The Supervisory Board is considering his successor.



About AND Automotive Navigation Data

AND Automotive Navigation Data is leading provider of digital mapping data used for location-based services around the world. AND Automotive Navigation Data focuses on the development of digital maps in Europe, North-Africa, Central and South America and Australia. The digital maps are used in location based services, navigation, internet based mapping and more. The company was founded in 1984, is headquartered in Rotterdam, the Netherlands and is listed on Euronext Amsterdam (AND). For further information see www.and.com.

For further information please contact: Maarten Oldenhof +31 10 8851200






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