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Provision on project receivable
07-02-2018
Sensys Gatso has decided to fully provision on an outstanding receivable to the amount of EUR 1 million regarding project deliveries in the Middle East from 2016.
The company has reached a settlement agreement of EUR 750 thousand regarding this outstanding receivable and is in discussion with the customer on the timing of the settlement. Due to the uncertainty relating to the timing of the payment Sensys Gatso has today decided to fully provision the receivable, with an impact of EUR 500 thousand in the fourth quarter. Sensys Gatso is in communication with the customer about the non-payment and is committed to receive the outstanding amount in 2018.
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 below, at 8.30 on the 7th of February 2018.
For further information:
Ivo Mönnink, CEO
E investors@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 167 employees.