Surface Transforms manufactures and sells carbon ceramic brake discs. The last threemonth period of contract awards since the financial year-end has been transformational in the development of the company. It now has multi-year, multi-million, recurring income contracts from European-based global OEMs. These will support cash breakeven during 2020, moving to EBITDA-positive (post-tax credit) in fiscal 2021 and profitability in 2022. Long-term contracts collectively bring lifetime revenues of over £20m. The overwhelming significance is that this follows many years’ client-testing, and this product-endorsement opens the path to order-of-magnitude sales expansion.
17 Sep 2019
Rapid acceleration – “game-change” announcements
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Rapid acceleration – “game-change” announcements
Surface Transforms PLC (SCE:LON) | 3.4 0 (-11.5%) | Mkt Cap: 12.1m
- Published:
17 Sep 2019 -
Author:
Mike Foster -
Pages:
36
Surface Transforms manufactures and sells carbon ceramic brake discs. The last threemonth period of contract awards since the financial year-end has been transformational in the development of the company. It now has multi-year, multi-million, recurring income contracts from European-based global OEMs. These will support cash breakeven during 2020, moving to EBITDA-positive (post-tax credit) in fiscal 2021 and profitability in 2022. Long-term contracts collectively bring lifetime revenues of over £20m. The overwhelming significance is that this follows many years’ client-testing, and this product-endorsement opens the path to order-of-magnitude sales expansion.