TIDMJNEO
RNS Number : 7982H
Journeo PLC
01 August 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.
1 August 2023
Journeo plc
("Journeo, "Company" or "the Group")
Trading Update
Journeo plc (AIM: JNEO), a leading provider of information
systems and technical services to transport operators and local
authorities, announces a trading update for the six months ended 30
June 2023 ("H1 2023"), and provides an update on the Company's
trading expectations through to 2025.
Highlights
-- Acquisition of IGL Limited ("Infotec") completed on 18
January 2023 following successful GBP7.35m fundraising
-- Group revenues increase by 145% to GBP21.8m
o 41% organic growth in core business revenue (from GBP8.9m to
GBP12.5m)
o GBP9.3m revenue from Infotec
-- Sales order intake increased to GBP18m including GBP4.2m from
Infotec providing increased visibility into H2 2023 and beyond
-- Order book carried forward into H2 2023 of GBP27m and sales opportunity pipeline over GBP55m
-- Number of connections to SaaS platform increased 20% from
10,000 to 12,000 generating monthly recurring revenues
-- Profit before tax increased to GBP1.7m
-- Revenue for the full year is expected to be GBP41m,
significantly ahead of current market expectations, with profit
expected to be marginally ahead
-- Cash balance of GBP11.3m, including advance payments from customers of GBP3.5m
Journeo had a strong H1 2023 with revenue of GBP21.8m (H1 2022:
GBP8.9m), an increase of 145% over H1 2022. Fleet Systems revenue
increased by 61% to GBP7.9m (H1 2022: GBP4.9m) and Passenger
Systems revenue increased by 16% to GBP4.6m (H1 2022: GBP4.0m).
The Infotec business acquired in January 2023 delivered revenue
of GBP9.3m in the period from acquisition to 30 June 2023.
Sales of lower margin products were higher than expected in H1
2023 and this is expected to continue throughout most of H2 2023,
with margins increasing in FY2024 as the effect of component
shortages in supply chains improve and the sales business mix
changes.
The Company expects a broadly similar performance in H2 2023
with revenue for the full year expected to be significantly ahead
of current market expectations and profit before tax for the full
year expected to be marginally ahead of current market
expectations, demonstrating the Company's resilience and ability to
maintain its performance despite the challenging macro-economic
environment.
Cash balance at 30 June 2023 was GBP11.3m, including payments in
advance of GBP3.5m (H1 2022: GBP1.2m). The Company invoice
discounting facility remains at GBP2.75m.
The Company continues to invest in the research and development
of future technologies and software with a focus on low-power, low
latency designs, where high-performance, reliability and
sustainability form the basis of the products and services road
map.
Journeo expects to achieve GBP42m revenue in FY2024 and is
targeting GBP50m in FY2025 with improved net profit margins, as we
look to consolidate on some of the exceptional contracts in FY2023
and continue to drive bottom line profit growth.
The Company will provide further details on the first half
performance in its interim results in September 2023.
Russ Singleton, Chief Executive of Journeo plc commented:
"The first half of this year has seen the Group enter a
transformational stage in its development following the acquisition
of Infotec in January and generate strong organic and acquisitive
growth. Revenues increased 145% to GBP21.8m, delivering a pre-tax
profit of GBP1.7m. We entered H2 2023 with a GBP27m order book, a
GBP55m sales opportunity pipeline and expect revenue for the full
year to be GBP41m, with profit marginally ahead of current market
expectations . The integration is going well with finance, HR, new
product design and marketing working together and a number of cross
selling initiatives underway to broaden the customer base, increase
sales, annual recurring revenues and margins. " .
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.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTQFLFXXDLFBBQ
(END) Dow Jones Newswires
August 01, 2023 02:00 ET (06:00 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
