REG - Journeo PLC - Trading Update

JourneoAnnouncement

14/01/2025 07:00

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RNS Number : 1640T  Journeo PLC  14 January 2025

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.

14 January 2025

Journeo plc

("Journeo", the "Company" or "Group")

 

 Trading Update

Journeo plc (AIM: JNEO), a leading provider of information systems and
technical services to transport operators and local authorities is pleased to
report an update on trading for the year ending 31 December 2024 ("FY2024").

The Group expects to report revenues for FY2024 of £50m (2023: £46m), in
line with market expectations* and adjusted profit before tax of £5.0m (2023:
£4.0m), slightly ahead of market expectations.

The Group has continued to see strong momentum in both Fleet Systems and
Passenger Systems. Infotec and MultiQ, which were both acquired in 2023, have
also continued to perform well since joining the Group.

On the basis of recent trading and strong order intake, the Group is
continuing to perform ahead of management's expectations and FY2025 is viewed
with confidence. We expect FY2025 adjusted PBT to be slightly ahead of market
expectations** after accounting for the taxation changes in the 2024 Autumn
budget.

 Further details will be provided in the Group's FY2024 Annual Report. The
figures in this announcement remain subject to audit.

* FY2024 market expectations were revenue of £50m and adjusted profit before
tax of £4.8m.

** FY2025 market expectations were revenue of £52m and adjusted profit before
tax of £5.0m.

Russ Singleton, Chief Executive of Journeo plc commented:

"We are pleased with another strong Group performance in FY2024. Our strategy
of working closely with our customers to develop class-leading products,
software and services to help encourage the use of public transport while
reducing emissions and traffic congestion, continues to drive our growth".

A digital copy of this announcement will be available on the Group's website:
www.journeo.com (http://www.journeo.com/) .

 

For further information, please contact:

 Journeo plc                                                       +44 (0) 203 651 9166

Russ Singleton/ Nick Lowe
 Cavendish Capital Markets Limited - Nominated Adviser and Broker  +44 (0) 207 220 0500

Katy Birkin/ Callum Davidson

 

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 has five operating companies:

·    Journeo Fleet Systems: 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: 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: design, advanced manufacture, installation and software
management of information displays hardware for rail applications in stations,
on-platform and on-vehicle.

·    Journeo AS (based in Aarhus, Denmark): full-service provider of
Intelligent Transport Systems ("ITS") with customers in Denmark, Sweden and
Iceland.

·    Journeo AB (based in Stockholm, Sweden): technical services provider
to public transport customers in Sweden.

In the last 4 years, the Company has invested over £6 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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