SOURCE: AND International Publishers

November 18, 2010 01:48 ET

Trading update AND

ROTTERDAM, NETHERLANDS--(Marketwire - November 18, 2010) -

AND raises turnover and profit targets for 2010

Commercial success boosts revenue growth

AND International Publishers NV has experienced a good third quarter of 2010. Thanks to commercial success from Digital Maps sales, the quarter was better than expected. This has led to an increase of our turnover target for entire 2010 to at least EUR 6.9 million, from an earlier expectation of at least EUR 6.7 million. Net profit is expected to be at least EUR 2.4 million for 2010, from an earlier EUR 2.3 million expectation.

In 2009 AND realized a turnover of EUR 5.0 million and a EUR 1.5 million net profit.

The third quarter of 2010 was very good commercially, which was strengthened by the signing of a contract with CosmicNavigation. This navigation company now has access to all Navigation Maps of AND. CosmicNavigation will use AND's maps of Western Europe with specific Points of Interest for navigation, route planning and location information.

The cooperation with Navmii, which started in the spring of 2010, has been intensified, which has led to the availability of 22 iPad and iPhone navigation products for navigation. Up till now the applications have been downloaded over 150,000 times.

Western Europe is completely covered by AND with high quality Navigation Maps. In the third quarter the map of Ireland was completed and added to the database. AND has also completed its coverage of North America with the addition of a map for Canada.

Recently the act of the amendment of the articles of association has passed. This amendment contained the reduction of the nominal value of the AND shares. Because of the lowering of the share capital it is easier for AND to pay dividend, because the company's equity will rise faster above the issued share capital and the legal and statutory reserves. This change has been adapted by Euronext.

Chief Executive Officer Maarten Oldenhof is satisfied with AND's third quarter. 'We have made significant progress as supplier of high quality Navigation Maps. The success of our cooperation with Navmii and CosmicNavigation proves that our clients are very happy with the quality of our maps. We are now in talks with other companies about possible cooperation.'

AND provides Digital Maps for location-based services and is the only independent company in the global mapping market. The company focuses on the further development of its advanced Digital Maps to position itself even more effectively in the market.

This is a translation of the Dutch press release. In the event of any discrepancy, the Dutch version will prevail.


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Source: AND International Publishers via Thomson Reuters ONE

Contact Information

  • For more information

    Maarten Oldenhof
    Tel.: +31 10 8851200