REG - Journeo PLC - Contract Awards

JourneoAnnouncement

08/06/2022 07:00

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RNS Number : 0737O  Journeo PLC  08 June 2022

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

8 June 2022

Journeo plc

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

£1.7m Contract Awards for Real Time Information Systems

Journeo plc (AIM: JNEO), a leading provider of information systems and
technical services to transport operators and local authorities, is pleased to
announce two contract awards for software, information systems and 5-year
support services totalling £1.7m with Nottingham City Council (the
"Agreements").

 

The first contract, valued at £1.4m is for the upgrade of 1,600 existing LED
outdoor displays using a 4G Intelligent Gateway, the 'Journeo Edge'.  These
upgraded displays will join over 1,000 displays previously supplied by Journeo
throughout Nottingham City Council, Nottinghamshire County Council, Derby City
Council and Derbyshire County Council, and will extend the life of the
displays beyond the depreciation of the UK's 2G and 3G networks.  A small
number of displays will also feature Journeo's next generation 5G gateway.

 

The second contract, valued at £0.3m, is for Journeo's powerful new messaging
software tool to enable Nottingham City Council to integrate vital travel
disruption information with scheduled and real time departure data for over
10,000 bus stops throughout the region.  This intelligent new service will
consume data from standardised data feeds and autonomously distribute the most
relevant information to transport users via displays, mobile apps and online
sources already used by the authority to provide information.

 

It is anticipated that approximately £0.5m of the total value of the
Agreements will be delivered during this financial year.

 

The contracted revenues under the Agreements for this financial year were
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.

 

Russ Singleton, Chief Executive of Journeo, said: "We are delighted to be
working with these councils to upgrade and connect their legacy LED display
systems to our powerful content management software platform. Using the same
core technology that we deploy on vehicles, the Journeo Edge will communicate
in a new, standardised format which will soon be adopted across the industry.
Additionally, the new messaging tool has the potential to revolutionise
transport disruption messaging, disseminating the latest updates for any bus
stop to any authorised endpoint".

 

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

 

For further information, please contact:

 Journeo plc                                        +44 (0) 203 651 9166

 Russ Singleton/ Nick Lowe

 Cenkos Securities - Nominated Adviser and Broker  +44 (0) 207 397 8900

 Katy Birkin/Callum Davidson

 

Notes to editors:

Journeo plc is a leading information systems and technical services business
focussed on public transport and related infrastructure within towns, cities,
airports, and local authorities. The Company works extensively with local
government departments, combined authorities, and many of the largest
multinational transport operators, supporting them as systems converge towards
a more efficient and sustainable smarter-cities future.

The business currently comprises two segments:

·    Fleet operator solutions: 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.

·    Passenger infrastructure solutions: 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.

In the last 4 years, the Company has invested over £5 million in research and
development, enabling it to design and supply powerful new 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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