Contract Extension

Journeo PLC

17 December 2024

 

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.

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.

For further information, please contact:

Journeo plc Russ Singleton/ Nick Lowe	[phone]
Cavendish Capital Markets Limited - Nominated Adviser and Broker Katy 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 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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