GeoJunxion NV (ticker: GOJXN.AS) Formerly called AND International
Publishers NV (AND.AS) Publishes its July 2021 Trading Update
Capelle aan den Ijssel, The Netherlands
29 July 2021 - GeoJunxion significantly increases order intake and
shows encouraging Q2 and 1H2021 YoY topline growth.
Looking back at the first half of 2021 and more
specifically at the second quarter, Covid-19 and its related
measures are still proving to be a significant challenge for the
global economy. However, the GeoJunxion team and our underlying
business continued to show strong resilience and improved
performance during Q2: Revenue during the past quarter has grown by
30% compared to the same quarter in 2020. For the first half of
2021, revenue increased by 20% compared to the same period last
year. Thanks to an extraordinary Q2 performance, our order intake
for the first half of 2021 doubled compared to the same period last
year. We are continuously encouraged by the market response
regarding our new premium location aware products and intelligence
location services, which have resulted in the increased strength of
our pipeline. It is also worth noting that Q2 order intake is more
diversified than ever across all our product lines and services, as
well as between new and recurring multi-year business
opportunities.
OPERATIONAL HIGHLIGHTS AND STRATEGY
UPDATE
Market DevelopmentsCOVID
restrictions still influence the willingness to spend, therefore
companies remain extremely cautious in their investments. This
applies across all market verticals in particular within travel,
leisure and events. However, signs of improvement are coming from
large IT companies and others, specifically for Smart Cities
solutions, Transports and Logistics and the Automotive and
Autonomous driving sectors.
Business Development In the
second quarter of this year, we continued to focus on our new High
Alert Zones family of products, in particular on Eco Alert Zones
and Safety Alert Zones. The strongest traction from the market
remains on Eco Alert Zones where we expanded our unique value
proposition of fully attributed, global, and authoritative coverage
of Low Emission Zones, Congestion areas and Limited Traffic zones,
which we have extended to Heavy Vehicles as well. Eco Alert Zones
are today the most requested data suite, both by existing customers
and prospects. Safety Alert Zones have also started attracting
current customers and new prospects, therefore opening up new
business opportunities within Transports and Logistics, Automotive
and the Insurance market.
Our Outdoor Venue Plan and Intelligence Location
Services are also getting traction. We see increased interest from
Municipalities for the development of information systems and
bespoke data suites related to Smart Cities applications and
services. Public and private companies are showing interest in
alternative Mobility plans, Real Estate and, to a certain extent,
also travel, leisure and tourism, in spite of limited investment
capabilities due to Covid restrictions.
Outdoor Venue Plan - use case for the Real Estate
and Mobility Management markets
We continue to experience an increased number of
visitors to our website, thanks to various lead generation
activities and monthly webinars, with growing number of registrants
and attendees. Recordings of all webinars are available on our
website in the Resources section, at “Events and Webinars”.
Product DevelopmentIn the
second quarter of the year, we continued to invest in improvements
and expansion of our core High Alert Zones product suite: Eco,
Safety and Health Alert Zones. We actively worked to improve our
Eco Alert Zones including non-passenger vehicles and Heavy Vehicles
over 3.5 tons. This new authoritative and dynamic dataset, which
will be launched in the coming months, is in perfect alignment with
the GeoJunxion’s mission to foster safety and sustainability
through location-aware content.
We also released our first mobile app,
GeoAlertsLive for iOS and Android, with the primary goal of
demonstrating the value of our High Alert Zones, but also to open a
new and direct channel into the market and get feedback from B2B
customers and B2C users to further improve and customize our Eco,
Safety and Health Alert Zones. The app is already available with a
freemium business model on Google Play Store and Apple Store.
GeoAlertsLive app – Eco Alerts for Low Emission,
Congestion and Limited Traffic Zones
We continued to invest in our API technology to
improve and optimize the delivery mechanisms of our highly dynamic,
map agnostic value-added products.
In response to the increased demand of hyper
local content, we are refining our suite of algorithms and methods
for the automatic generation of various types of boundaries and
polygons. Based upon this advanced technology we should be in a
position to release a new premium product for Built-Up Areas with
worldwide coverage.A built-up area (BUA) is a boundary that
encloses a densely urbanized area. These areas are characterized by
a higher population density than surrounding areas and give shape
to the cities, towns, and larger villages.
Built Up Areas - example of urbanized areas with
different characteristics
During the second quarter of the year, we also
released a new dataset containing the aggregated information for
kindergartens and schools in Germany, designed for specialized
vertical markets such as Real Estate, Finance and Investments, GIS,
Geo and Direct Marketing. This will also be the base for extending
our Safety Alert Zones in other countries and for many other
applications and markets.
Partner & Alliances
Our partnership & alliances program received
an additional boost over the course of Q2.
Our partnership with ESRI has been re-enforced
via the strengthening of the relationship with the US headquarters
and local European subsidiaries. Esri is the global market leading
solution provider for Geographic Information System (GIS), with
over 350,000 customers and more than 45% market share. It is an
important alliance for GeoJunxion because of its market leading
technology platform and the market reach of its network around the
world. This partnership already brought new opportunities to our
pipeline and joint offers across new prospect customers.We are also
working together on an upcoming joint event, scheduled for the end
of Q3, where as guest speakers, we will be presenting our suite of
products and services to a vast audience of ESRI subsidiaries and
partners.
Our alliance with NavInfo was also consolidated,
in particular within opportunities for Smart Cities, HD Maps and
Roads and Signals Maintenance market sectors. NavInfo brings
extensive and in depth know how in Computer Vision and Artificial
Intelligence which, which when combined with our capabilities on
premium location content for road safety and sustainability,
creates a unique business opportunity for both companies.
After the recent announcement of the agreement
with the Province of North Brabant in the Netherlands, we started
our partnership with the aim to improve asset management as well
road safety in that area. Such new activity will pave the way for
GeoJunxion to offer to the province its Data as a Service
(DaaS).
We are also proud to announce that GeoJunxion BV
was selected by #MobilityLab to join their 2021 edition focused on
creating advanced solutions for sustainable mobility and safety on
the road. After the selection process and product pitches we have
been identified as one of the 25 companies that will work on this
project. Our focus will be on improving safety around schools,
where vulnerable pedestrians are concentrated during certain times
of the day. This will be realized with our School Zones, which are
and will be an essential part of the Safety Alert Zones product
suite.
Mobility Lab is an initiative of two mobility
programs: De Verkeersonderneming from the Rotterdam region and
SmartwayZ.NL, which focuses on the South of the Netherlands. Both
programs are based on partnerships between various governmental
institutions focused on improving accessibility in their regions.
In addition, Brainport Eindhoven has been a partner to the project
since 2018, and this year the province of Limburg also joined as a
partner. Mobility Lab was founded in 2017 and is carrying out its
fifth edition this year.
Mobility Lab – Stef Van der Helm, Enterprise
Sales Manager, during the product pitch on School Zones
Order Intake / Bookings
developmentsOur 2021 order intake to date has doubled
compared to the same period in 2020. Orders for premium location
data and location Intelligence Services booked in the past quarters
of the year started materializing into revenue and will continue
converting into revenue during Q3 and Q4.
We would like to thank our employees, customers,
shareholders, and contractors for their ongoing contribution to the
turnaround of the company.
FINANCIAL SUMMARY Q2 and H1 2021 RESULTS
VERSUS Q2 and H1 2020
- Revenue for Q2 2021 has grown by 30.6% compared to Q2 2020. For
the entire first semester 2021 a growth of 20.3% was generated
compared to the same period of the previous year.
- Order intake for the entire H1 2021 shows a growth of 107%
compared with the same period of the previous year, due to
excellent performances realized during the second quarter.
OUTLOOK FOR THE FULL CALENDER YEAR
2021 Covid-19 and its related measures to contain the
spread have continued to hamper our business development during the
past 6 months. This was particularly the case for our products
aimed at the travel, leisure, and events industry, which were
severely impacted by government measures and lockdowns. Despite
this, we continue to experience strong market interest in our new
product portfolio, resulting in solid revenue growth, a strong and
healthy pipeline of opportunities. Based on the orders in hand, and
the strength of the pipeline of opportunities, we reconfirm our
expectation to generate a revenue growth for the calendar year
2021, in the range of 40 to 50% compared to calendar year 2020.
ORGANIZATIONDuring Q2, Mr. Ivo
Vleeschouwers, formerly serving as GeoJunxion’s CFO, has been
nominated as permanent CEO, combining the CEO and CFO functions
going forward.At the same time, Mr. Francesco Altamura has also
been appointed by the Supervisory Board as GeoJunxion’s new CBO -
Chief Business Officer, responsible for the Commercial, Marketing,
Strategy and Business Enablement divisions.
Ivo Vleeschouwers, CEO and CFO – Francesco
Altamura, CBO
REPLACEMENT OF EXTERNAL
AUDITORWe continue to explore all possible options to
replace our previous OOB-licensed auditor, Grant Thornton.
Partially to allow time in resolving this issue and move outside of
the auditing peak season, GeoJunxion has extended the current
accounting year to 30 June 2021. During the past months, we have
engaged with all available OOB licensed Auditors in the
Netherlands, requesting a quote for the Audit of our accounts per
30 June 2021. Mazars is not available to us as they are still in
the cool down period as our 2017 auditor. To date we have received
4 rejections for the same reasons as last year. We are in ongoing
conversations with one auditing firm. There is however no guarantee
that these efforts will conclude in an agreement.
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 2019 annual report describes the principal
strategic, operational, and financial risks. The risks and
uncertainties described in the annual report are still 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 in 2020 and the first Semester of 2021. However, the
Covid-19 outbreak and the associated and prolonged pandemic control
measures have had a disruptive effect on the economy and an adverse
effect on our business, most noticeably in our data sales business
and our last mile mapping service directed to travel, leisure and
events business and the associated revenues. Although we have taken
mitigating actions and lockdown measures have currently been lifted
to a large extend, mainly due to the progress in the vaccination
campaigns, there is no guarantee that the pandemic and its
associated control measures will not have a further negative impact
in 2021 on our business, financial position, and results. Our focus
remains on key areas, such as social: our people and stakeholders,
commercial: our customers and partners, financial: focus on costs,
revenue growth, cash flow generation and liquidity, Product &
Technology: further strengthen and expand product & services,
as well as investing in specialized technology development to
increase efficiency and quality.
On the Social aspect, we are putting particular
attention on preventive actions to limit any 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
The voluntary liquidation of AND Data India Pvt,
LTD, continues to progress well: Early June 2021 we completed the
repatriation of the remaining 50% of the funds available in the
company. Expectation is that the liquidation of the Indian legal
entity will be fully completed during August 2021.
FORWARD-LOOKING STATEMENTS / IMPORTANT
NOTICEThis 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.
Ends
Capelle aan den IJssel, 29 July 2021,
Ivo Vleeschouwers – CEO / CFO
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