REG - Journeo PLC - Contract Extension

JourneoAnnouncement

17/12/2024 07:00

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RNS Number : 3082Q  Journeo PLC  17 December 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.

17 December2024

Journeo plc

("Journeo", or the "Company")

 

 4-year contract extension with City of Edinburgh Council

Journeo plc (AIM: JNEO), a leading provider of information systems and
technical services to transport operators and local authorities is pleased to
announce that, further to its announcements on 10 December 2019 and 27 January
2020 relating to a 5-year £4.8m contract with the City of Edinburgh Council,
it has been awarded a 4-year contract extension to continue to provide
software, advanced displays technology and support services to the Council.

It is anticipated that this contract extension will generate a minimum of
£1.5m in additional revenues over the period.

During the initial period of the contract, Journeo delivered the contract in
two phases.  In Phase 1, an Intelligent Management System was developed for
Edinburgh Bus Station which operates critical passenger information including
the display of real time arrival, departure and disruption information,
alongside safety critical vehicle movement systems, which ensures vehicles
accessing the bus station are captured on ANPR, and that their manoeuvres are
completed safely.

In Phase 2, Journeo upgraded Edinburgh's 400 on-street real time passenger
information signs to the latest optically bonded TFT (Thin Film Transistor)
technology, providing a larger, more accessible display for passengers to
access departure information.  All of the technology in both phases is
underpinned by Journeo's market-leading passenger information Content
Management System.

Throughout the contract extension, in addition to providing maintenance and
licencing of the implemented technology, Journeo and City of Edinburgh Council
will work closely to drive continuous improvement in the level of information
for passengers in Scotland's capital. This includes the provision of dynamic
diversion information, enabling city centre displays to highlight when
expected services have been diverted and ensure information on
additional-to-timetable trips is also available for passengers when operators
extend services to meet network capacity needs.

Further locations for expanding the real time system have also been
identified, to extend the provision of information to new route corridors that
will deliver benefits to residents of, and visitors to, the City of Edinburgh.

Russ Singleton: "We are delighted to have been awarded this 4-year contract
extension, where we will continue to provide an accessible real-time passenger
information solution for the many millions of people travelling by bus, in and
around Edinburgh. Our management software and passenger information systems
are helping to make travel by bus a more attractive choice and support the UK
governments' net zero target".

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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