TIDMJNEO
RNS Number : 3691P
Journeo PLC
09 February 2023
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the UK version of the EU Market Abuse Regulation (2014/596) which
is part of UK law by virtue of the European Union (Withdrawal) Act
2018, as amended and supplemented from time to time.
9 February 2023
Journeo plc
("Journeo, "Company" or "the Group")
Trading Update
Journeo plc (AIM: JNEO), a leading supplier of information
systems, software and services to transport operators and local
authorities is pleased to provide an update on trading for the year
ended 31 December 2022.
Trading update
The Group's strategy of developing technologies, IP and
information services, centred around customers in public and
freight transport applications, is enabling the business to win and
retain recurring revenue and framework contracts, as well as
delivering growth.
The Group's order intake for the year increased by 50% to GBP27m
(2021: GBP18m), providing good earnings visibility for the current
financial year, while revenue for the year ended 31 December 2022
increased by 35% to GBP21.1m (2021: GBP15.6m). Profit for the full
year is anticipated to be in line with market expectations.
Across the year the total number of vehicles connected to
Journeo's software and services platform increased by 150% to
10,000 (2021: 4,000), each generating monthly recurring
revenues.
The benefits of the Group's highly secure, scalable cloud-based
applications are being adopted by other public transport bodies and
further growth is expected in the number of connections to the SaaS
platform during 2023.
The Group continues to work with suppliers and customers to
manage and mitigate any exposure to supply chain issues, shipping
and associated price increases, such that no material issues have
been encountered.
Acquisition update
On 18 January 2023, the Group completed the acquisition of IGL
Limited (including Infotec Limited) following the completion of a
significantly over-subscribed placing and retail offer. Infotec's
experience in the highly regulated rail market adds another
dimension to Journeo's transport expertise and enables the Group to
provide a wider range of solutions across bus, rail and transport
infrastructure. The Infotec acquisition brought across an US$18m
contract to provide displays for New York subway trains, which has
extended the Group's geographic reach and may provide other
opportunities.
Integration of the recent acquisition is progressing well, and
to plan, which includes expansion of production capacity at Infotec
to meet the Group's significant order book and growing sales
opportunity pipeline. The existing relationship between the Journeo
and Infotec teams is facilitating the integration, collaboration
and business development process.
Russ Singleton, Chief Executive of Journeo plc, commented:
"I am very pleased with our achievements in 2022 where the
Group's order intake, revenues and profits all increased strongly
based on growing adoption of our own technology, software and IP.
We have made good progress in our sustainability strategy,
including reducing the environmental impact of our technologies
such as introducing ultra-low power designs in our next generation
display systems. We look forward to providing more detail in our
2022 Annual Report.
Following the acquisition of Infotec, the enlarged group is in a
stronger position with a healthy order book and a growing sales
pipeline of future opportunities for 2023 and beyond based on
Journeo IP.
We continue to evaluate other acquisition opportunities and this
potential, together with the on-going successful investment in
research and development and organic growth, gives the Board
confidence in being able to deliver increasing value to our
shareholders."
A digital copy of this announcement will be available on the
Group's website: www.journeo.com .
For further information, please contact:
Journeo plc
Russ Singleton/ Nick Lowe +44 (0) 203 651 9166
Cenkos Securities - Nominated Adviser and Broker
K aty Birkin/ Callum Davidson +44 (0) 207 3 97 8900
Notes to editors:
Journeo plc is a leading Intelligent Transport Systems provider,
delivering solutions in towns, cities, airports and the public
transport networks that connect them. The Company works extensively
with local and combined authorities, Network Rail and many of the
largest multinational transport operators, supporting them as
systems converge towards a more efficient and sustainable
future.
The business currently has three operating companies:
-- Journeo Fleet Systems Ltd: CCTV video surveillance to improve
passenger & driver safety, telematics for vehicle and driver
performance monitoring, real-time communications for remote
condition monitoring and automatic passenger counting.
-- Journeo Passenger Systems Ltd: design, manufacture,
installation, and management of hardware and software for
electronic public transport information systems, in and around
towns, cities, ferry terminals and airports which includes
smart-ticketing and wayfinding.
-- Infotec Ltd: design, advanced manufacture, installation and
software management of information displays hardware for rail
applications in stations, on-platform and on-vehicle.
In the last 4 years, the Company has invested over GBP5 million
in research and development, enabling it to design and supply
powerful innovative solutions for customers' complex requirements
and the demands of modern public transport. With an Internet of
Things ("IoT") approach and open standards, together with
field-proven and reliable engineering, Journeo is able to offer
flexible, scalable products and services that can integrate with
existing technology while preparing for future advancements.
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END
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February 09, 2023 02:00 ET (07:00 GMT)
Journeo (LSE:JNEO)
過去 株価チャート
から 11 2024 まで 12 2024
Journeo (LSE:JNEO)
過去 株価チャート
から 12 2023 まで 12 2024
