GeoJunxion NV (ticker: GOJXN.AS) Formerly called AND International
Publishers NV (AND.AS) - Business update Full Year 2021-2022
Capelle aan
den
IJssel,
The Netherlands, 28 July
2022,
GeoJunxion generated positive cash flow
for full year 2021-22 and delivered on guided
revenue growth of 40% year-over-year, while
keeping costs down compared to
2020-2021.
The closure of June 2022 also represents the
end of the Financial Year 2021/22 (1 July 21 – 30 June
22) for GeoJunxion: our Location data and technology
business has proven to be solid, despite the external challenging
variables like the Covid-19 pandemic persisting, the unexpected
extended war in Ukraine, the market volatility, the raising
inflation rates and the general concerns about a potential upcoming
recession. GeoJunxion performed in line with the guidance, with a
revenue growth of 40% YOY.
“We are continuously encouraged by the market
interest in our new premium location aware products. Eco and Safety
Alert Zones, in particular Low Emissions and School Safety
geofences play a key role in our portfolio of products and
services”. Most of our revenues continues to come from the Location
Intelligence Services, which have attracted the attention of public
and private companies in various industry sectors and resulted in
an increased strength of our pipeline of opportunities for the new
coming financial year 2022/23. Within the Location Intelligence
Services, the Outdoor Venue Plan are getting more traction. This
materialized in last mile maps for two major events in The
Netherlands during Q2 2022.
Our continued focus on cost control is paying
off: For the full year 2021-22, operating expenses were slightly
lower than last year, despite the 40% revenue growth.
The increased revenue paired with cost control measures, resulted
in a positive EBITDA for the accounting year 2021-22. Assisted by
COVID related government measures (delayed payments of salary
taxes) we also managed to generate positive cash
flow during the past accounting year. This is a major
accomplishment, after years of ongoing negative cash flows.
OPERATIONAL HIGHLIGHTS AND STRATEGY UPDATE
Strategy Update
GeoJunxion’s strategy remains solidly focused on
creating “map agnostic” data products. Digital geo-localized
content, designed to be fully integrated into, or overlaid on any
commercial or open-source brand of maps. Data to be utilised in
developing smart solutions for a large variety of use cases and in
different industries and market sectors. A key role is played by
smart dynamic geofences, like the Eco Alert Zones and the Safety
Alert Zones. Our Location Intelligence Services continue to
represent the most important source for revenue generation.
GeoJunxion’s
efforts are directed towards establishing long-term
relationships with our customers, through the creation of recurring
business models rather than one-off
opportunities. Although the relationship
with clients frequently starts with a proof-of-concept or a custom,
one-off project, most of the Company’s development actions go into
building value-added, dynamic content, requiring continuous or
frequent updates to maintain and increase their value over time.
This means that most of our proof-of-concept and one-off projects
are a launch-pad for establishing a service or a license contract,
converting the initial activities into a recurring, more
predictable and sustainable business model.
Moreover, when executing projects, GeoJunxion
typically retains the Intellectual Property and ownership of the
newly developed datasets and solutions, which can be subsequently
resold to other customers. Thereby, leveraging the initial
investment and creating a virtuous business cycle.
Our mission remains focused on improving
road safety and contributing to a more sustainable world,
reducing the impact on the environment through intelligent
solutions enabling more environmentally
conscious decisions.
Central to GeoJunxion’s strategy are:
- Cost effective sourcing,
production, ingestion and aggregation of geodata.
- Flexible licensing models at
competitive pricing.
- Direct delivery of dynamic,
up-to-date content via APIs.
- Highly customised solutions and
content creation.
Market Developments
Despite the general situation improved
significantly, COVID 19 still impacted our results. Most of the
companies remains cautious in their investments delaying some
scheduled activities. While clear signs of improvement were raising
in some industry sectors, the conflict in Ukraine has brought other
concerns and forced existing and potential customers to pay even
more attention in their expenditures, given the general instability
and uncertainty.
At the time of publishing this report, we had no
relevant material business exposure to the recent events in
Ukraine. There are no active customers, or deliveries due to be
received from Ukraine or Russia. We have no staff located in
Ukraine or Russia. GeoJunxion’s pipeline of opportunities has
limited exposure towards both countries. GeoJunxion is however
exposed to raising inflation rates, as any other Company, due to
increased energy and other raw material prices, which has started
impacting the salary & benefit expenses of our teams.
GeoJunxion continues to develop opportunities in
the Automotive and Autonomous driving sector, in Transport and
Logistics, Insurtech and Real Estate markets. This is done through
our portfolio of geofences, which is constantly expanding and under
frequent maintenance. Significant efforts have been made to expand
the existing relationships with big Global Tech Companies
and Public Administrations, not only through the delivery
of unique data content to be utilized as geofences in a variety of
use cases, but also through custom Location Intelligence
Services.
Within the Location Intelligence Services,
GeoJunxion is experienced in building location-aware maps for
indoor and outdoor settings. We combine data insights with
cartographic technologies to create bespoke mapping solutions that
benefit venue employees, visitors and stakeholders. In support of
this, we released a dedicated e-book: "The Potential for Location-
Aware Technologies in Tracking Both People and Assets in Indoor and
Outdoor Venues". This completes a series of e-books started in the
second half of last year, that touched also the Insurance and
Insurtech market (e-book title: “Can Location Aware Content reduce
Insurance claims?”) and Transport and Logistics (e-book title:
“Solving Business-Critical Transport & Logistics challenges
with Geo-Data").
In order to strengthen GeoJunxion presence in
the market, our leadership team attended a few important events
during the first half of 2022. We participated in investor
events like VFB (Vlaamse Federatie van Beleggers) in
Kinepolis, Antwerp in April. We were present in several
business and technical events like: Home Delivery
World Europe in Amsterdam, Intertraffic Amsterdam 2022, HAN
Kennisfestival Intelligente Mobiliteit in Arnhem, NGF Datagedreven
Ecosysteem in Utrecht and ASITA Annual Conference in Genoa,
Italy.
Business Development
In the quarter from April to June 2022,
GeoJunxion continued to develop the High Alert Zones data
suite. The focus has been on keeping Eco Alert
Zones up to date, for passenger cars, commercial light
vehicles and heavy vehicles, and launching the new School
Safety Zones, as part of the Safety Alert Zones. Both Eco
and Safety Zones are categorized as smart dynamic geofences.
A geofence is a virtual
boundary, delimiting a real-world geographical location. Such
virtual boundaries can be of any size or shape: a straight line
between two points, a circle around a specific geo-located center
point, or a complex geometry like an intricated polygon delimiting
the road-network of a city (like is case in our Eco and Safety
Alert Zones).Like a physical fence, a geofence defines a separation
between what is inside the virtual boundary and what is outside. A
geofence can also be smart: smart geofences may change in shape,
size and other characteristics (for instance active or inactive)
depending on the attributes assigned to them. Geofences can be
visualized on a map, visible to the users, or they can be hidden,
readable only by dedicated software, providing geo-targeted push
notifications and messages to end users, including security alerts.
Its purpose is to allow asset and people tracking or triggering any
other action or collect location data. The process of using
geofences, is called geofencing, and it’s a vital part of any
navigation systems, routing or route optimization application,
fleet management system and more.
In April 2022 the School Safety
Zones have been officially launched, generating a lot of
interest from our clients. School Safety Zones are specialized
dynamic smart geofences (complex polygons), with meta data such as
school opening and closing times, around schools and kindergartens.
The precise location of the school is the geo-localized starting
point. In creating the Safety Zone around it, GeoJunxion takes in
consideration the relevant infrastructure, which is used in
reaching the destination. Think of bus stops, zebra crossings,
walking paths and dangerous intersections, to mention a few of
them.
In addition to this new dataset, the
Location Intelligence Services have played a
primary role in the business development of the period. We
continued with the diligent execution and completed the successful
deliveries for all the three tailor-made Location Intelligence
Services, won in Q1/2022. Thereby serving two large global
Tech Companies. Two of those contracts were Proofs of
Concept, perfectly aligned with GeoJunxion’s strategic focus on
safety on the road and environmental sustainability. The efforts
invested in such development may lead to very interesting contracts
extensions and additional opportunities in the new coming financial
year 2022/23.
The most relevant efforts in business
development during the first half of 2022 has been on the
acquisition of a significant Location Intelligence contract with an
important Navigation and Infotainment Systems supplier in
the Automotive industry. The contract was signed at the
very beginning of Q2/2022. We embraced this opportunity as a
long-term partnership with clear common technical and commercial
objectives and with the intent to establish a solid and fruitful
long-term relationship.
Our Outdoor Venue Plan and Location
Intelligence Services continue receiving interest from
existing and prospect customers. This interest comes from local
Municipalities, engaged in their path to the digitalization of
their services. Interest came also from private organizations, with
the goal to improve their customers’ experience. This led to the
acquisition and development of two Outdoor Venue Plans during
Q2/2022, for a jumping sports events and a large festival in The
Netherlands (CHIO Rotterdam 2022 and
Zwarte Cross 2022).
During the quarter, GeoJunxion has also invested
in strategic cooperations
and partnerships with other Companies. The
partnership between NextBillion.ai, an
industry-leading spatial data and AI platform and GeoJunxion, the
leading Low Emission Zones and Restricted Traffic Areas data
provider is proof of that. This strategic cooperation will help to
improve the effectiveness of the Low Emission Zone (LEZ) — an
initiative that is designed to protect the environment.
Product Development
Product development during the last quarter of
the fiscal year 2021/22 (April-June ‘22) was mainly focused on the
diligent execution of the Location Intelligence
Services projects won in
the first months of 2022. Product
Development has been done in geo-location services for heavy
vehicles and trucks regulations, but also for “leisure” markets on
hiking trails and walking areas.
The biggest development efforts went into the
Location Intelligence contract with an important Navigation
and Infotainment Systems supplier in the Automotive
industry. The current challenging market
conditions (for the automotive market) and the introduction of new
regulations (like ISA) are imposing significant changes in the
strategy of most of the suppliers of infotainment systems.
GeoJunxion continues to support these and other requirements.
The European Commission has taken unprecedented
action to help the transport sector and public authorities prepare
for the mobility of tomorrow, with introduction of the General
Vehicle Safety Regulation (EU) 2019/2144. The objective is to
protect European citizens against traffic accidents, poor air
quality and climate change. To empower them with new mobility
solutions that match their changing needs and defend the
competitiveness of European industry. As of 23 June 2022, the
delegated act “Technical requirements and test procedure for
approval of intelligent speed assistance (ISA)” has been adopted.
From July 2022, Intelligent speed assistance (ISA) will be
mandatory for new models/types of vehicles introduced on the
European market. The ISA will become mandatory for all new cars
that will be sold from July 2024.
Product development was dedicated to keep
Eco Alert Zones
dataset and related APIs, up to
date. To enable an easier and more effective delivery to the
clients. This authoritative and dynamic dataset perfectly fits
GeoJunxion’s mission to foster safety and sustainability through
location-aware content. It creates added value to B2B clients
operating in the Automotive, Transport & Logistics, Real
Estate, Utilities & Services markets, as well as public
organizations.
GeoJunxion’s Eco Alert Zones database continues
to expand: It currently includes over 2.500 areas
in 35 Countries. Zones can be
divided in three major categories:
- Low Emission and Congestion Zones
for passenger vehicles and light commercial vehicles up to
3,5T;
- Low Emission and Congestion Zones
for Heavy Vehicles over 3,5T;
- Limited Traffic Zones for all types
of vehicles.
The dataset is monitored daily and updated as
soon as any modification in the geometry or attributes is announced
by the responsible governmental authority.
Regarding the bespoke Outdoor Venue
Plans for CHIO Rotterdam 2022 and
ZWARTE CROSS 2022:CHIO Rotterdam
is the only Dutch equestrian 5 stars outdoor event and belongs to
the very best international events in the world. With a 72 years
history in top level showjumping and dressage, CHIO Rotterdam is
also the eldest international top sports event in
Rotterdam. For business, the CHIO is the place to be.
Many prominent politicians and top executives visit the event every
year. Together with the KLM Open and the ABN AMRO World Tennis
Tournament, the CHIO belongs to the top 3 of hospitality events in
the Netherlands (Ref: CHIO Rotterdam website).
GeoJunxion is also proud to have supported the
Dutch Red Cross for emergency management and
response at the Zwarte Cross
Festival in Lichtenvoorde (NED). GeoJunxion developed a
navigable, digital map of the area with all relevant Points of
Interest (POI), such as entrances, campgrounds, stages, and the Red
Cross first aid locations. On top of the Outdoor Venue Plan of the
event area, GeoJunxion created a grid to help the Red Cross
volunteers to identify the precise locations. In case of an
emergency, the volunteers receive the grid location of the
emergency, and are guided to this location on their mobile device.
This way, they can easily find and navigate to the emergency
location and respond quickly. “In case of an emergency, every
second counts! In the past, the Red Cross volunteers used a paper
map. They needed to find their location and navigate manually to
the place of the emergency. Now they save precious minutes in
response time, which can be critical in case of emergency.”
GeoJunxion continues exploring the combination
of geo-localized interactive content and virtual immersive reality
to offer a unique and attractive combination of services.
ORGANIZATION
GeoJunxion has received Level 2
certification on Social Entrepreneurship:
the “Prestatieladder Socialer
Ondernemen
(PSO)”. This independent
assessment shows that GeoJunxion offers high-quality employment to
people who have difficulty accessing the labor market and
collaborates with organizations that also do or strive to achieve
this. With this certification, GeoJunxion provides an above-average
contribution in the field of social entrepreneurship in a
sustainable way. GeoJunxion is one of the first publicly listed
organizations in The Netherlands with a PSO quality certification.
“GeoJunxion has valued diversity, integration and investment in
social responsibility for years. We are committed to offering our
daily contribution towards a better and more sustainable work
environment. Every single action count and we are conscious about
that”.
During the Financial Year 2021/22, GeoJunxion
went through a partial reorganization. The roles “Head of
Marketing” and “Head of Business Strategy & Enablement” have
been made redundant. At the same time new investments have been
made in the R&D and Operations departments. New resources were
hired to support the projects in Location Intelligence Services,
accelerate innovation in some key areas like API development, deep
learning and to strengthen the data sourcing team.
FINANCIAL POSITION
GeoJunxion has closed the current accounting
year per 30 June 2022 with a cash balance of
Euro 953K. This represents a
positive cash flow over the past 12 month
of Euro 131K. Based on our current outlook, the available
cash on hand is estimated to be sufficient to cover our operational
requirements for at least the next 12 months.
EXTERNAL AUDITOR –
Status update
GeoJunxion is one of 9 actively trading
companies, quoted on Euronext Amsterdam stock exchange, that have
been unable to present audited financial statements, because of
unavailability of a PIE/OOB licensed auditor. The proposed
legislation regarding the future of the Dutch Accountancy Sector
(voorstel voor de Wet toekomst accountancysector), includes a
proposed process whereby the NBA (Nederlandse Beroepsorganisatie
van Accountants), at the request of the company, can assign a
PIE/OOB licensed auditor and determine a reasonable fee for the
auditing activities. The Management Board continues to support this
initiative and hopes that this proposal obtains the necessary
political support to be converted into legislation in a timely
way.
In the meantime, we have connected with all 6
Dutch PIE/OOB licensed auditors and requested a quotation to audit
our 2021-2022 annual accounts. Four company have declined to quote,
one is in process of reviewing our request and one company has not
responded to our request (to date).
RISK MANAGEMENT
Risk management is an integral managerial task.
Our risk management and control procedures take into consideration
the size of the company and the character of the business to
identify the most significant risks which the company is exposed
to. The risks identified are discussed on a periodical basis and
mitigated or fully resolved, where possible. Such a system cannot
provide absolute certainty that objectives will be realized.
Neither can it guarantee prevention of potential cases of material
mistakes, damage, fraud, or breaches of statutory laws.
The 2020-21 annual report, as published in
October 2021, describes the principal strategic, operational, and
financial risks. The risks and uncertainties described in the
annual report are relevant and are deemed incorporated and repeated
by reference in this report. There were no cases of material
damage, fraud or breaches of law detected since issuing the Annual
Accounts.
On the Social aspect, we continue to pay
particular attention on preventive actions to limit exposure of our
people to Covid-19, encouraging and supporting smart working from
home, and establishing clear rules for those that need to be
physically present in our offices. Our people are our key assets,
and we do whatever we can to keep them safe and healthy.
GROUP STRUCTURE SIMPLIFICATION
During the past year the GeoJunxion group
structure was significantly simplified: AND Data India Private Ltd
was liquidated and the entity was removed from the corporate
registry in India. The two Dutch dormant entities AND Publishers
B.V. and AND Holding B.V. were liquidated, the registrations at the
Chamber of Commerce (KVK) were removed. The final tax declarations
were completed and accepted by the Dutch Tax authorities. The group
now only contains GeoJunxion N.V. and its 100% operating entity
GeoJunxion B.V.:
FORWARD-LOOKING STATEMENTS / IMPORTANT
NOTICE
This document contains certain forward-looking
statements with respect to the financial position and results of
GeoJunxion. We have based these forward-looking statements on our
current expectations and projections about future events, including
assumptions regarding our present and future business strategies,
operations, and the environment in which we will operate in the
future. These forward-looking statements are subject to risks and
uncertainties that could cause actual results to differ materially
from those expressed in the forward-looking statements, and you
should not place undue reliance on them.
Many of these risks and uncertainties relate to
factors that are beyond the company’s ability to control or
estimate precisely, such as timing of placement of orders of our
customers, exchange-rate and interest-rate fluctuations, changes in
tax rates, regulatory and legal changes, the rate of technological
change, the competitive landscape, political developments in
countries in which the company operates and the risk of a downturn
in the market.
The forward-looking statements contained herein
speak only as of the date they are made. We do not assume any
obligation to update any public information or forward-looking
statement in this document to reflect events or circumstances after
the date of this document, except as may be required by applicable
laws.
Capelle aan den IJssel, 28 July 2022,Ivo
Vleeschouwers - CEO / CFO Francesco Altamura - CBO
This is a public announcement by GeoJunxion N.V., pursuant to
article 17, paragraph 1 of the European Market Abuse Regulation
(596/2014). This public announcement does not constitute an offer,
or solicitation of an offer, to buy or offer securities in
GeoJunxion N.V.
–END–
About GeoJunxion
GeoJunxion is the crossroads where
fundamental, location-aware content connects with superior,
customized intelligence and highly focused innovations to empower
exceptional experiences. With an emphasis on safety and
sustainability, we are constantly expanding our portfolio to meet
the demands of a diverse and fast-evolving market. Building on
decades of experience in mapping, the company focuses on high
value, dynamic content and building environmentally conscious
applications, which enrich safety in everyday life. With
location-aware content at our core, we know where our strengths lie
and have the know-how and technology needed to offer unrivaled,
intelligent products and services. GeoJunxion NV is listed on the
regulated market of Euronext Amsterdam, under the symbol
GOJXN.AS.
GeoJunxion Press
Contact
Tel: +31 (0)10 885
1200
Email:
info@geojunxion.com
- 220728 - Press release - Business Update - July 2022_Geojunxion
NV
Grafico Azioni GeoJunxion NV (EU:GOJXN)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni GeoJunxion NV (EU:GOJXN)
Storico
Da Apr 2023 a Apr 2024