Journeo PLC Purchase Order (3374Z)

TIDMJNEO

RNS Number : 3374Z

Journeo PLC

15 May 2023

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.

15 May 2023

Journeo plc

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

GBP0.9m 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 GBP0.9m 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 .

For further information, please contact:

 
Journeo plc 
 Russ Singleton/ Nick Lowe                          [phone] 
 
Cenkos Securities - Nominated Adviser and Broker 
 K aty Birkin/ Callum Davidson                      [phone] 
 
 
 

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 GBP5 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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May 15, 2023 02:00 ET (06:00 GMT)