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Iowa court has decided to suspend speed enforcement on Interstate Highways
18-05-2017
Sensys Gatso Group, a global leader in traffic safety solutions will suspend the interstate speed enforcement services in Iowa effective immediately, following the decision of the Iowa District Court in Polk County which now allows the Iowa Department of Transportation to determine camera purpose and placement. The revenue from the affected speed enforcement program is USD 2,8 million per year, corresponding to SEK 24,5 million. The effect on 2017 is expected to be negative USD 1,9 million, corresponding to SEK 16,6 million on forecasted annual revenue.
Sensys Gatso Group operates both speed and red-light camera enforcement programs on behalf of a number of cities throughout Iowa. With this decision, the cities will no longer be able to decide on speed enforcement cameras to be placed on the interstate highways. The suspension of the interstate speed enforcement programs does not effect the remaining speed or red-light enforcement programs operating on city or county roadways, which will continue as normal. The case is expected to be heard in the court of appeal within the next six months, which may alter the decision to suspend the interstate speed enforcement program.
This information is information that Sensys Gatso Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 on the 18th of May 2017.
For further information:
Johan Frilund, EVP Corporate Development
M +46 732-742 823
E j.frilund@sensysgatso.com
Sensys Gatso Group AB is a global leader in traffic management solutions for nations, cities and fleet owners. Sensys Gatso Group has subsidiaries in Australia, Germany, the Netherlands, Sweden and the USA, and a branch office in the United Arab Emirates. The Sensys Gatso Group’s shares are listed on Nasdaq Stockholm and has 169 employees.