REG - Journeo PLC - Purchase Order

JourneoAnnouncement

15/05/2023 07:00

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RNS Number : 3374Z  Journeo PLC  15 May 2023

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.

15 May 2023

Journeo plc

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

£0.9m Passenger Information Systems Purchase Order

Journeo plc (AIM: JNEO), the information systems and transport technical
services group, is pleased to announce that its recently acquired subsidiary,
Infotec, has received a £0.9m purchase order for the manufacture and supply
of passenger information displays for Northern Trains.

 

Northern Trains, branded as 'Northern' is a publicly owned train operating
company owned by DfT OLR Holdings for the Department for Transport which
operates a fleet of 345 trains calling at 474 stations. Northern have recently
commenced a programme to replace and upgrade the passenger information
displays in all their stations and this purchase order for approximately 200
displays follows on from purchase orders received by Infotec prior to the
acquisition, where over 300 displays have been manufactured and shipped in the
last 12 months.

 

On completion, this new purchase order will take the total number of displays
supplied to Northern for their station upgrade to around 50% of its estate and
the Directors consider that, due to the ongoing demand for Infotec's high
performance, high reliability displays technology there is potential for
additional revenue opportunities for the Company in 2024 and 2025 as Control
Period 7 commences and Northern continues with the remainder of its station
upgrade programme.

 

This new purchase order includes both ruggedised indoor and optically bonded
outdoor TFTs, ECO-White LED platform displays along with associated services
such as communication hubs, bespoke steelwork and design services. All
displays are connected to Infotec's Javelin Content Management System (CMS)
software to enable advanced content delivery and hardware monitoring via an
easy-to-use web-based application.

 

The display systems are scheduled to enter production during H2 2023 with
revenue recognised late in Q4 2023 and early Q1 2024 and are included in
management's expectations of performance for FY2023.

 

Russ Singleton, Chief Executive of Journeo plc, commented: "I am delighted to
see the continuation of the relationship with Northern, following the
acquisition of Infotec by Journeo. Across the board, customers have been
welcoming of the change and we are beginning to see the resulting growth of
Group revenues, order book and sales pipeline.

 

By continuing to place orders for our high-performance displays, Northern know
that they are investing in a solution that is robust and reliable, with the
backing of a larger group and technical development force, and access to the
full suite of Journeo products, software and services for larger or more
complex projects in future."

 

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

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

 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 currently has three operating companies:

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

 

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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