Contract award in Denmark

Journeo plc (AIM: JNEO) a leading provider of information systems and technical services to transport operators and local authorities, is pleased to announce that its Danish subsidiary, Journeo AS has been awarded a contract with Umove following their award of a public transport contract with Trafikselskabet Movia.

The initial contract period runs for 6-years through to 2031, but this may be extended by two 4-year optional extensions to 2039.

Trafikselskabet Movia is the public transport agency responsible for buses and local railways in Zealand. It does not own any buses and trains itself, but pays fleet operator subcontractors, such as Umove to run them.

Umove was founded in 2013 and has grown to become Denmark's largest privately owned public transport operator with 650 buses and 1,600 employees. Umove won Movia's A23 tender and will operate over 230,000 timetable hours.

Journeo will deliver a range of Intelligent Transport Systems and services on 58 buses including fleet management software, Voice over IP communications, real-time destination signage and passenger infotainment software.

Engineering and installation works worth approximately £0.5m in revenues will be completed next year, prior to the buses entering revenue service in October 2025. The software licenses and recurring monthly SaaS revenues are expected to generate a further £0.4m during the initial contract period.

Russ Singleton, Chief Executive Journeo said: "I am delighted that Umove have selected our technology, software and services for the 58 electric buses that will operate in Ringsted, Kastrup and the Greater Copenhagen area. This award builds on the existing relationship with Umove where our Danish team already provide similar services on over 430 Umove buses".

A digital copy of this announcement will be available on the Group's website: www.journeo.com.