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AND SHARES RETIRE FROM SPECIAL COMPARTMENT NYSE EURONEXT
May 20, 2009 |
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Company: AND Products BV / AND Automotive Navigation Data
 FINANCIALLY SOUND MAPMAKER MAKES STRONG START IN 2009 Rotterdam, 20 May 2009 – AND International Publishers N.V. announces that as of today, May 20, the company will leave the special compartment (‘penalty box’) of NYSE Euronext Amsterdam. The mapmaker takes this important step as AND has a strong solvability and a very positive sales and profit outlook. Today, Chief Executive Officer of AND, Maarten Oldenhof rings the NYSE Euronext Amsterdam opening bell. “This is an important day for AND. We have always stayed the course and believed in our vision on the market. This year we have proven once more that our vision is the right one, which is good news for our employees, shareholders and clients.’ In February 2001 the AND shares were put in the special compartment of NYSE Euronext because the company filed for chapter eleven. Trading update AND has recently signed an important license agreement with a large US company for the use of its maps of Western Europe. Revenue has more than doubled in the first four months of 2009, while AND’s profit has more than tripled in this period, compared to the same period in 2008. The company reiterates its full year outlook. AND expects sales to triple and profit to increase five-fold in 2009. Earnings per share in 2009 will grow to around € 2.00 (€ 0,41 in 2008). Chief executive Officer Maarten Oldenhof states ‘the company has made a positive start in 2009. Recent developments strengthen our belief that AND - being the only independent party in the mapmaking sector - will continue to play a key role in of the online market for location-based services.’ AND is the third largest supplier in its market, but the only independent one. Strengthened by its success to date, the company will continue to focus on creating long-term value for shareholders by providing digital maps for location-based services. Also, through the newly signed contract, the company is able to accelerate further development of its advanced database and so position itself even more effectively in the market. The required investments can be financed entirely from the company’s own capital. Maarten Oldenhof (sales@and.com) |
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