The revenues of AND International Publishers NV increased by 22% in 2016, to €7.3 million. Operating profit (excluding the one-off impairment reversal of €2.5 million recognised in 2015) increased 21% to a level of €3.5 million. Earnings per share came in at €0.75 compared with €1.36 in 2015. AND proposes to pay shareholders a dividend of €0.15 per share.
AND Chief Executive Officer Hugo van der Linde: “I am excited that in 2016 we again managed to grow revenues and achieved strong results. At the same time, we strengthened our presence in North America and continued to invest in new initiatives within the automotive sector around autonomous driving.”
Course of events 2016
In January the production of the high quality premium navigation map of Canada was completed. This completes the upgrade and enrichment program for high quality premium navigation maps of North America. AND more than doubled the coverage of AND’s navigation maps.
In February, AND entered into a material agreement to license mapping data with one of the largest European internet companies. The license agreement includes AND´s worldwide digital maps.
In April, AND announced a licensing agreement with CycloMedia. This empowers AND’s capability to deploy data generated by cars in its digital maps. In 2016 AND started a pilot project. This step enhances AND’s growth prospects in the automotive sector, which is on the brink of new developments driven by technology and an important user of digital maps.
In addition, AND announced that it has been enrolled as a member of ADASIS, a platform for car manufacturers and map makers to standardize interface between in-vehicle ADAS (Advanced Driver Assistance Systems) applications and map data sources. Partners of ADASIS include car manufacturers (for example BMW, Daimler, FORD, Honda, Renault, Toyota, Volkswagen and Volvo) and map makers (such as HERE and TomTom).
During the third quarter AND decided to develop a new product, a database with detailed postal code areas of the United States. For this product, a multi-year sales contract has already been signed with a prominent customer. From 2017 this product will contribute to the revenue and results.
In the third quarter Barry Glick was formally nominated to strengthen the Supervisory Board. The Extraordinary General Meeting of Shareholders of 10 October officially appointed Mr. Glick as member of the Supervisory Board. He has been appointed for a period of four years. The Supervisory Board now consists of three members.
In the fourth quarter Bennett Moe was appointed as VP Sales to expand the business in North-America.
In 2016 AND executed several customized orders during the third quarter. Together with the Dutch police a so called tile server was delivered with specific point of interests and together with a part of the Dutch government a so called tile server was delivered. Also, AND worked on and successfully completed various custom projects which involved accepting total confidentiality with respect to the client, the work involved and the financials of the project and is therefore unable to disclose any further details.