Surface Transforms has announced a major contract win with a manufacturer of EVs. Lifetime revenue is estimated to be £27.5m. Our 2021e revenue forecast is lifted by c.80% and 2022e by c.120%. The improved OEM order book brings better visibility and stability to revenues. To fulfil the order, significant investments will be made in headcount, but the Group should now report a net profit in 2021e against our previous forecast for a loss. Additional working capital and capex are also required but ....
14 Sep 2020
Surface Transforms (SCE LN) - Major contract win
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Surface Transforms (SCE LN) - Major contract win
Surface Transforms PLC (SCE:LON) | 3.1 0 (-10.1%) | Mkt Cap: 10.9m
- Published:
14 Sep 2020 -
Author:
Robin Byde -
Pages:
11
Surface Transforms has announced a major contract win with a manufacturer of EVs. Lifetime revenue is estimated to be £27.5m. Our 2021e revenue forecast is lifted by c.80% and 2022e by c.120%. The improved OEM order book brings better visibility and stability to revenues. To fulfil the order, significant investments will be made in headcount, but the Group should now report a net profit in 2021e against our previous forecast for a loss. Additional working capital and capex are also required but ....