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.
16 July 2024
Journeo
plc
("Journeo, "Company"
or "the Group")
£3m Rail
technology solutions contracts
Journeo plc (AIM: JNEO) a leading
provider of information systems and technical services to transport
operators and authorities, is pleased to announce it has secured
two contract awards totalling £3.0m for the provision of its
on-board CCTV and Automatic Passenger Counting ("APC")
solutions.
The first contract is for £2.4m
where Journeo will provide CCTV and APC,
along with design and support services, to the
Porterbrook1
Class 170 fleet, which comprises 35 trains for
East Midlands Railway ("EMR")2 and 29 for
CrossCountry3 totalling 158 carriages.
The second contract for £0.6m is with
Arriva Train Care4. Journeo will provide CCTV and APC,
along with design and support services, to Angel Trains Class 158
fleet, which comprises 16 trains for EMR totalling 32
carriages.
Under both contracts, Journeo will
provide full support during the design phase and first fitment of
the systems. All systems will be securely connected to the Journeo
cloud-based software application via the existing train-to-shore
communications, generating additional
monthly recurring SaaS licensing revenues.
It is anticipated that approximately
£1.0m of revenue will be generated by the end of December this year
and while both contracts are included in management's expectations
of performance for the current year these add to the Company's
strong order book and provide further future revenue
visibility.
Russ Singleton, Chief Executive of
Journeo plc, commented,
"I am delighted that
these large rail companies have selected our technology, software
and services to enhance passenger safety, monitor
infrastructure and provide a fleet-wide view of live and historical
occupancy data. As each system comes on-line, our services and live
passenger information will be available to these operators and
their end users on the Journeo portal, adding to Groups' monthly
recurring SaaS revenues."
1 Porterbrook has
invested over £3 billion to become a leading participant in the
rail leasing market with a rolling stock fleet of around 5,000
vehicles on lease or on order, including c.4,500 passenger
vehicles.
2 East Midlands Railway
is a British train operating company owned by Transport UK
Group.
3 CrossCountry is a Train
Operating Company with 139 trains owned by the Arriva
Group.
4 Angel Trains is one of
Britain's leading train Asset Management companies and has invested
over £5 billion in new rolling stock and refurbishment
programmes.
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
|
+44 (0) 203 651
9166
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|
|
|
|
Cavendish
Capital Markets Limited - Nominated Adviser and
Broker
Katy
Birkin/ Callum Davidson
|
+44
(0) 207 397 8900
|
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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 five 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.
· MultiQ 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.