Investment case

Journeo is a leading provider of technology solutions that support Integrated Services, Information Systems and Infrastructure  protection, built around core capabilities and shared Group services  that support each vertical.

Journeo delivers to market through our operating companies:

Crime and Fire Defence Systems Ltd. Turnkey, government-compliant security solutions for critical infrastructure, utilities and high-security environments.

Infotec Ltd. Designer and manufacturer of advanced passenger information display solutions to highly complex and regulated markets such as rail.

Journeo A/S. In-vehicle and on-street transport solutions for our customers in the Nordic and Scandinavian regions.

Journeo Fleet Systems Ltd. Advanced on-vehicle systems integration backed by Journeo cloud-based services, and nationwide support teams.

Journeo Passenger Systems Ltd. On-street passenger information solutions including displays technology and the cloud solutions that power them.

Opportunities for growth

We have identified attractive growth opportunities backed by regulatory changes and significant Government funding.

Changes within the transport market are driven by successive Governments’ goals to increase the number and quality of  journeys using public transport, particularly in, around and connecting cities, to reduce congestion and support low emission goals. The recent Bus Services Act 2025 has given local authorities and transport executives greater foresight into funding allocations, with the 2025 spending  review confirming a £2.3bn investment into transport through the Local Transport Grant (LTG) over the next three years and £15.6bn for the Mayoral Combined Authorities (MCAs) through the Transforming City Regions (TCR) funding allocated through to 2032. This is in addition to the £5.7bn City Region Sustainable Transport Settlements (CRSTS) already in place through to 2027.

The UK Government has also committed to the largest sustained  increase in defence spending since the Cold War, targeting a raise in core spending to 2.5% of Gross Domestic Product (GDP) by 2027, and committing to achieving 3.5% of GDP by 2035.

Competitive position

We compete by listening to our customers and focusing on meticulous systems design, engineering and long-term support, all driven by continuous innovation.

This approach is driving our growth and we are discovering valuable  insights through the application of Artificial Intelligence (AI) and  Machine Learning (ML) techniques on the large amounts of data  generated and consumed within our systems. This is guiding us as we improve safety and performance, as well as optimise maintenance in  both new and legacy applications.

By leveraging economies of scale, we reduce costs for our customers, including fleet operators, vehicle manufacturers, local authorities,  transport executives, Network Rail and Nationally Significant Infrastructure Projects (NSIPs).

We operate in niche markets with few competitors and high barriers to entry due to enterprise risk and technical complexity. Managing long-lifecycle assets across large geographic areas and our ability to navigate growing complexity and converging solutions on the cloud provide us with an increasingly differentiated position. Bolt-on acquisitions provide additional routes to market for our core technology in attractive market niches.

Investing in growth

In the last four years, Journeo has invested over £8m in Research and Development and in 2024 formed the Journeo Design Centre (JDC), a Group-wide resource to support the development of new scalable solutions which capture, process, analyse and display essential  information to deliver connected journeys safely.

We use AI, automation and ML techniques both within the powerful new solutions that we provide, and to support the process of  developing them. Our service offering includes design, installation,  on-site support, analytics and back-office systems.

In addition, the Group’s growing market presence is enabling exclusive relationships to be forged with specialist equipment manufacturers, which have the potential to significantly increase revenue.

Bolt-on acquisitions are being targeted to supplement the Group’s impressive organic growth and accelerate penetration into new markets where our technology can add value to customers.

Recurring revenue

The capabilities of our powerful software solutions are being recognised by a growing number of specialist equipment manufacturers, who use the Journeo Portal to present their performance data to end users. As a result, the Company is achieving long-term contracts that generate recurring revenues, alongside the SaaS-based income from its latest software solutions.

The Journeo Portal has the capability to manage on-vehicle technology and transport-related infrastructure from a single interface, providing a powerful and compelling proposition for authorities that are progressing through the franchising process.

Our core capabilities have developed through practical experience in creating market-leading solutions for the unique requirements of the markets that we operate within.

Key resources

Engineering excellence
Our people and culture are aligned to the needs of our customers. The importance of our solutions in the day-to-day operations of our customers informs our actions. Our customers demand engineering excellence, and this is at the heart of our expertise.

Technology leadership
We support our customers’ legacy systems, today’s new purchases and tomorrow’s strategic direction. We have a 360° view of the technology relevant to our customers and the capability to develop products and software that meet their unique requirements.

Affinity with customers
Like our customers, our operating companies have a long-term commitment to the sectors in which we operate. We are active members of industry groups and develop internal specialists that understand the importance of creating leading-edge, durable and
cost-effective solutions over the long term.

Third-party relationships
We are key members of customer ecosystems and work inclusively and collaboratively with industry complementors to deliver the solutions our customers require.

Activities

Engineering services
A full spectrum of services from design to installation, management and field support services.

Technology provider
We combine a deep understanding of industry and customer needs with our Research and Development capabilities to create innovative, new, open-platform products and software solutions that increase performance and decrease costs for our customers.

Support services
We provide vital services to our customers, delivering best practices and processes to enable them to deliver efficient and consistent results for their customers.

Competitive advantage

Open technology
We leverage industry standards, enabled by our own IP, to ensure we can support legacy solutions directly alongside the latest technology solutions.

Bespoke solutions from core technology
The flexibility of our technology enables Journeo to deploy the same core technology across solutions, adapted to its use case.

Long product lifecycle
The longevity of Journeo solutions enables us to maintain customer relationships for longer and create a barrier to entry for new entrants.

Installation and servicing
Our expertise enables us to support our customers for the full lifecycle of the solutions we install, further embedding Journeo into our customers’ operations.

Diversifed income streams

Solutions sales
We deliver solutions that support our customers for the full lifecycle of the installations.

Integrated sales
Our teams create new converged solutions from previously disparate or closed technologies and applications.

Know-how and IP sales
We enhance legacy systems by driving additional value from the systems our customers have already invested in.

Design, installation, services and support
To assure high performance and reliability across the total lifecycle for our customers.

Managed solutions
Our ongoing care provides our customers with total peace of mind.

Through its operating companies, Journeo addresses three key market segments, Integrated Services, Information Systems and Infrastructure Protection.

Integrated Services

Journeo supplies safety and information systems to bus, rail, rail freight, light-rail and specialist vehicle operators, as well as integrated solutions to enclosed transport operations, at locations such as airports. Our solutions tend to be provisioned at a fleet-wide level with hardware installed on each vehicle and are underpinned by 24/7 support.

UK bus is currently our largest market where the main drivers for revenue are the systems for new vehicles, the fleet-wide adoption of new technology to meet operational needs and ongoing services to the fleet. However, the adaptability of core Journeo technology is resulting in an increased presence in on-vehicle systems in UK rail.

Information Systems

Journeo supplies passenger information systems to local authorities, Passenger Transport Executives (PTEs), and transport network management bodies such as Network Rail.

Changes in policy from successive Governments has led to increased activity in the UK Passenger Information Systems market, providing Journeo with the opportunity to extend its solutions into new customers and larger information estates.

Infrastructure Protection

Journeo supplies Integrated Security Solutions (ISS) to some of the most demanding customers in the UK, protecting sites of critical National Infrastructure, such as the utilities that we all rely upon to power our homes, offices and national amenities.

An ever-heightening threat level environment and shifts in international geo-political relations are resulting in sustained investment to protect the nation’s utilities and sites of strategic importance.

Financial summary results for the months to 31 December 2025

For further financial information please read our latest annual report.