REG - Journeo PLC - £5 million Framework Agreement

JourneoAnnouncement

20/02/2024 07:00

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RNS Number : 6745D  Journeo PLC  20 February 2024

The information contained within this announcement is deemed by the Company to
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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.

20 February 2024

Journeo plc

("Journeo", or the "Company)

 

£5 million Framework Agreement

Journeo plc (AIM: JNEO), a leading provider of information systems and
technical services to transport operators and local authorities is pleased to
announce the award of a new Framework Agreement ("Agreement") with a Northern
Transport Partnership ("Partnership"), following a competitive tender process.

The Agreement which is expected to generate £5m in revenues through to
January 2028, continues a long-standing relationship with the Partnership and
provides for the supply and support of Journeo's advanced real-time passenger
information systems in their network.

The revenues under the Agreement are included in management's expectations of
performance for the current financial year and add to the Company's strong
order book, providing further future revenue visibility.

Journeo will supply its latest high-definition TfT, ultra-bright LED and low
power e-ink solutions. Communications will be driven by the latest
open-standards between on-street infrastructure and back-office content
management software provided by the cloud-based Journeo Portal.

 

Russ Singleton, Chief Executive of Journeo plc, commented: "We are delighted
to continue this relationship with the Partnership, installing our latest
technology to enhance the passenger travel experience. This latest agreement
follows a highly successful year in 2023 of contract awards and purchase
orders which together have built a strong order book. With each new contract
we are demonstrating our innovative approach and technical expertise, which in
turn is creating new opportunities and building momentum in the business."

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.

·    MultiQ (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 £5 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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