GeoJunxion NV (ticker: GOJXN.AS) Formerly called AND International Publishers NV (AND.AS) Financial & Business update Q3 (Jan-Mar) and YTD (Jul-Mar) 2021/22

Capelle aan den IJssel, The Netherlands, 28 April 2022, GeoJunxion reports positive cash flow for the quarter and year to date, strong revenue growth and consistent improvements in the development of new data products and services towards safety on the road and environmental sustainability.

The current financial year covers the 12 months period from 1 July 2021 to 30 June 2022. The third quarter of this financial year covers the period from 1 January to 31 March 2022, corresponding to Q3 of the financial year 2021/22. The first nine months cover the period from 1 July 2021 to 31 March 2022.

In the third quarter, GeoJunxion’s business continued to show resilience and good performances. Revenue grew by 76% compared to the same quarter of the previous financial year and order intake showed growth of about 81% again compared to the same period of last year. For the first nine months of 2021/22 (from June to March) the growth on the order intake is of about 57% compared with the same period of the previous year and revenue grew by a very encouraging 63% for the same period. It’s also worth remarking that the cash flow was positive for both the quarter and the accounting year to date, showing clear evidence of the on-going turnaround.

The main driver for the growth realized in the current accounting year is coming from the Location Intelligence Services. These have attracted the attention of public and private companies in various industry sectors and resulted in the increased strength of our backlog and opportunity pipeline. It is also worth noticing that order intake continues the positive trend in the diversification across all our product lines and services. We also see a transition from one-off to recurring multi-year business opportunities.


  • Positive Cash Flow for Q3 2021/22 (+€228K). Positive Cash Flow for the 9 Months in 2021/22 (+€79K).
  • 76% Revenue growth for Q3 2021/22 compared to the same period in 2020/21. 9 months growth +63%.
  • Flat Operational expenses (OPEX) for Q3 2021/22 compared to the same period in 2020/21. 9 months OPEX up by 1% YoY.
  • 57% improvement in Operating result for Q3 2021/22. 67% improvement for the 9 months of 2021/22
  • EBITDA was positive again in Q3 by €32 K.  For the 9 months +€270 K
  • Consolidated 31 March 2022 cash-position equals €902 K.


While Covid-19 is still hampering various businesses and a new threat is raising from the conflict in Ukraine we continue experiencing strong interest in our product portfolio. Based on the orders in hand, we confirm our expectation of revenue growth for the accounting year 2021/22, in the range of 40 to 50% compared to the 12-month period from July 2020 to June 2021. This means our revenue is expected to come in between €2.350 K and €2.550 K for the accounting year ending per 30 June 2022. expecting our revenue to come in between €2.350 K and €2.550 K for the accounting year ending per 30 June 2022.


Strategy Update

GeoJunxion’s strategy remains focused on creating “map agnostic” data products: digital geo-localized content, designed to be fully integrated into or overlaid on any commercial or open-source maps, or to be utilised in developing smart solutions for a large variety of use cases, in different industries and market sectors.

GeoJunxion’s activities are directed towards establishing long-term relationships with our customers, through the creation of recurring business models rather than one-off opportunities. Although the relationship with clients frequently starts with a proof-of-concept or a custom one-off project, most of the Company’s efforts go into building value-added, dynamic content, requiring continuous and frequent updates to maintain and increase their value over time. This means that most of our proof-of-concept and one-off projects are a launch-pad for establishing a service or license contract, converting the initial activities into a recurring, more predictable and sustainable business model.sustainable business model.

When executing projects, GeoJunxion typically also retains the Intellectual Property and ownership of the newly developed datasets and solutions, which can be subsequently resold to other customers.  Thereby, leveraging the initial investment and creating a virtuous business cycle.

Our mission remains focused on improving road safety and contributing to a more sustainable world, reducing the impact on the environment through intelligent solutions enabling more environmentally conscious decisions.

Central to GeoJunxion’s strategy are:

  • Cost effective sourcing, production, ingestion and aggregation of geodata.
  • Flexible licensing models at competitive pricing.
  • Direct delivery of dynamic, up-to-date content via APIs.
  • Highly customised solutions and content creation.

Market Developments

Despite the general situation improved significantly, COVID 19 still impacted the mentioned quarter. Most of the companies remained cautious in their investments delaying some scheduled activities. While clear signs of improvement were raising in some industry sectors, the new coming threat of the conflict in Ukraine has brought other concerns and forced existing and potential customers to pay even more attention in their expenditures. At the time of publishing this report, we had no material business exposure to the recent events in Ukraine. There are no active customers, or deliveries due to be received from Ukraine or Russia. GeoJunxion’s pipeline of opportunities has limited exposure towards both countries.  GeoJunxion is however exposed to raising inflation rates, as any other Company, due to increased energy and other raw material prices, which may impact the salary & benefit expenses over time.

In the Automotive and Autonomous driving sectors, GeoJunxion has issued a number of interesting proposals during this quarter. Some have turned into closed orders.

Significant efforts have been put in expanding the existing relations with big Global Tech Companies.  We continue to deliver unique data content to be utilized as geo-fences in a wide variety of use cases.

Business Development

In the quarter from January to March 2022, GeoJunxion continued to maintain its attention on the High Alert Zones data suite. In this quarter the focus has been not only on the Eco Alert Zones, which continued to be developed and updated, but also on new algorithms which enabled the development of a new set of specialized Safety Alert Zones: School Safety Zones, which were launched at the beginning of April.

In addition to this new dataset, the Location Intelligence Services have played a primary role in the business development of the period. In fact, in February, we closed contracts for additional three tailor-made Location Intelligence Services with two large global Tech Companies. All the activities are planned to be completed within the mid of Q4 2021/22. Two of these contracts are Proofs of Concept, perfectly aligned with GeoJunxion’s strategy, focused on safety on the road and environmental sustainability. All these activities, in the near future, may lead to very interesting contracts extensions and additional opportunities.

At the same time, we completed the renewal of an important annual service agreement with a public administration.  This confirms the Company’s attitude to serve and satisfy existing customers at the largest possible extent, while generating recurring income.

Our Outdoor Venue Plan and Location Intelligence Services continue receiving interest from existing and prospect customers. This interest comes from local Municipalities, engaged in their path to the digitalization of their services, but also from private organizations with the goal to improve their customers’ experience.

Business development during the quarter has been primarily focused on the acquisition of a new significant Location Intelligence contract with an important Navigation and Infotainment Systems supplier in the Automotive industry. The verbal agreement was received, and contract details clarified during this extremely busy Q3 2021/22. The formal contract has been signed in the very first days of April. We embrace this opportunity as a long-term partnership with clear technical and commercial objectives in common with our client and partner and with the intent to establish a solid and fruitful relationship for the years to come.

Product Development

Product development during the third quarter of the fiscal year 2021/22 (January-March ‘22) was focused on the creation of the School Safety Zones.

School Safety Zones – the cover of the Product Datasheet

This dynamic dataset perfectly fits GeoJunxion’s mission to foster safety and sustainability through location-aware content. This creates added value to B2B clients operating in the Automotive, Transport & Logistics, Real Estate, Utilities & Services markets, as well as public organizations.

The formal product launch was done in the first days of April, but the development has been entirely completed during the past quarter. Three countries have been fully deployed: The Netherlands, Germany, and Italy. Many other countries are scheduled in the product roadmap, starting with Belgium and France.

School Safety Zones – over one hundred thousand school zones in three countries

The School Safety Zones are smart polygons/areas created around the location of Schools and Kindergartens. The zones consider various parameters: the infrastructures in proximity of the schools utilized to commute to and from the school, such as zebra crossing, dangerous intersections, walking and bicycle paths, bus stops and metro stations. In addition, the opening and closing times and the holidays for each type of school.  This data has been stored in the metadata to create a dynamic dataset, capable to inform when the areas are more crowded with vulnerable pedestrians. At the end of the quarter, we deployed over one hundred thousand school zones, and we expect at least to double them by the end of the summer.

School Safety Zones – an example of areas developed utilizing GeoJunxion’s proprietary algorithms

The development of the School Safety Zones is also relevant due to the proprietary algorithms and mathematical methods used to create the areas. These are fully customizable, enabling us to build new types of smart polygons around other potentially dangerous areas, such as Hospitals, Playgrounds, Stadiums crowded event areas and many more.


The order intake for the quarter January-March 2022 showed an increase of +81% compare with the same period of the previous year. When we consider the nine months of the current financial year, from June 2021 till March 2022, the growth in the order intake is about +57%, compared with the same period of the previous year.


The Q3 2021/22 revenue increased by +76% compared to the same quarter last year. Revenue increased, with +63% in the period June ‘21 – March ’22.  GeoJunxion tracks its revenue by product type and by the nature of the underlying contract (recurring versus non-recurring).  The main revenue growth has been realized in non-recurring services, but also the recurring revenue from licenses, royalties and recurring services had an increase. The recurring service revenue primarily includes the updating services of our Eco Alert Zones product. The non-recurring service revenue includes the tailor-made collection of data sets and creation of geo-located content.


During the past quarter, the Operations and R&D have been strengthened by recruiting new hires. This was necessary to serve new and existing customers, but also to develop new IP, content, and services in a more efficient manner. We strongly believe in automation and efficiency in delivering quality products. For this reason, we intend to invest more in advanced research in fields like image detection, deep-learning and, more in general, in artificial intelligence applied to our business.


GeoJunxion progresses in turning its business around from a digital map supplier focused on one-off large deals, to a premium location content and location intelligence service provider with a subscription based, recurring “data as a service” revenue model. During the quarter GeoJunxion has continued to invest in product development, in strengthening its R&D and Operations teams. The results reported for Q3 and the first nine months of the 2021/22 financial year are the evidence of this progress. Based on our current outlook, the available cash on hand is estimated to be sufficient to cover our operational requirements for at least the next 12 months.


GeoJunxion is one of 9 actively trading companies, quoted on Euronext Amsterdam stock exchange, that have been unable to present audited financial statements, because of unavailability of a PIE/OOB licensed auditor. The proposed legislation regarding the future of the Dutch Accountancy Sector (voorstel voor de Wet toekomst accountancy sector), includes a proposed process whereby the NBA (Nederlandse Beroepsorganisatie van Accountants), at the request of the company, can assign a PIE/OOB licensed auditor and determine a reasonable fee for the auditing activities. The Management Board welcomes and supports this initiative and hopes that this proposal obtains the necessary support to be converted into legislation in a timely way. 


Risk management is an integral managerial task. Our risk management and control procedures take into consideration the size of the company and the character of the business to identify the most significant risks which the company is exposed to. The risks identified are discussed on a periodical basis and mitigated or fully resolved, where possible. Such a system cannot provide absolute certainty that objectives will be realized. Neither can it guarantee prevention of potential cases of material mistakes, damage, fraud, or breaches of statutory laws.

The 2020-21 annual report, as published in October 2021, describes the primary strategic, operational, and financial risks. The risks and uncertainties described in the annual report are relevant and are deemed incorporated and repeated by reference in this report. There were no cases of material damage, fraud or breaches of law detected since issuing the Annual Accounts.

On the Social aspect, we continue to pay particular attention on preventive actions to limit exposure of our people to Covid-19, encouraging and supporting smart working from home, and establishing clear rules for those that need to be physically present in our offices. Our people are our key assets, and we do whatever we can to keep them safe and healthy.


The Board of Management hereby declares that, to the best of its knowledge, the summarized Q3 (January – March 2022) and the nine months period (July 2021– March 2022) interim consolidated financial statements, drawn up in accordance with IAS 34 “Interim financial reporting”, represents a faithful rendering of the assets, liabilities, financial position, profit and cash flow of GeoJunxion NV and its subsidiary as stated in the consolidated financial statements, and that the Board report, as included in this Interim Financial statements, represents a faithful rendering of the information required in relation to item 5:25d subs 8 and 9 of the Dutch Financial Supervision Act.


The GeoJunxion group structure was significantly simplified in the past quarters: 

  • The AND Data India Private Ltd entity liquidation process was completed, with the approval of the NCLT court in Mumbai in November.
  • The two Dutch dormant entities: AND Publishers B.V. and AND Holding B.V. were liquidated. The registration of both entities at the Chamber of Commerce (KVK) were removed, and the final tax declarations were completed.

After this simplification, the group contains only 2 entities: GeoJunxion N.V. and its 100% subsidiary GeoJunxion B.V.


This document contains certain forward-looking statements with respect to the financial position and results of GeoJunxion. We have based these forward-looking statements on our current expectations and projections about future events, including assumptions regarding our present and future business strategies, operations, and the environment in which we will operate in the future. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, and you should not place undue reliance on them.

Many of these risks and uncertainties relate to factors that are beyond the company’s ability to control or estimate precisely, such as timing of placement of orders of our customers, exchange-rate and interest-rate fluctuations, changes in tax rates, regulatory and legal changes, the rate of technological change, the competitive landscape, political developments in countries in which the company operates and the risk of a downturn in the market.

The forward-looking statements contained herein speak only as of the date they are made. We do not assume any obligation to update any public information or forward-looking statement in this document to reflect events or circumstances after the date of this document, except as may be required by applicable laws.

Capelle aan den IJssel, 28 April 2022,

Ivo Vleeschouwers – CEO / CFO

Francesco Altamura – CBO

This is a public announcement by GeoJunxion N.V., pursuant to article 17, paragraph 1 of the European Market Abuse Regulation (596/2014). This public announcement does not constitute an offer, or solicitation of an offer, to buy or offer securities in GeoJunxion N.V.

For a copy of the full press release and GeoJunxion NV’s Interim Consolidated Results (Unaudited) click here.