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Sensys Gatso intends to propose an 80:1 reverse share split to the AGM in order to attract more international investors
12-04-2023
The Board of Directors of Sensys Gatso Group, a global leader in traffic safety solutions, intends to propose an 80:1 reverse share split to the Annual General Meeting 2023. As we continue to expand our global business, Sensys Gatso is entering a new phase and now aims to attract additional international investors. The Notice to the AGM will be distributed shortly.
In 2022 Sensys Gatso had one of its most successful years in its 65-year history, with order intake totaling SEK 1.5 billion. Sensys Gatso were successful in negotiating long-term contracts with governmental clients in our home markets of Sweden, the Netherlands, Australia, and the USA, assuring revenue for many years to come.
The focus on our TRaaS business model has led to a considerable rise in our recurring revenue of 26% in 2022. Due to this strategy, our proportion of TRaaS revenue is now 63% of total revenue. In the USA our TRaaS business grew by 36% and we also gained additional TRaaS revenue in Australia.
With the expansion of the TRaaS business, the gross margin is expanding concurrently, strengthening Sensys Gatso’s already solid financial position.
Sensys Gatso continues to work towards the long-term goal of increasing net sales to more than SEK 1 billion by 2025, of which more than SEK 600 million will come from TRaaS revenues. Sensys Gatso also retains the ambition to increase the EBITDA margin to more than 15% by 2025.
“Sensys Gatso is moving into a new phase as we continue to strive towards our long-term objective and seek to draw in additional foreign investors as we expand our international business. The US, Australia, the Netherlands, and Sweden are currently Sensys Gatso's top markets,” according to CEO Ivo Mönnink, who also notes that the underlying markets are robust.
The notice to the AGM will be sent out shortly with the proposal from the Board of Directors.
The information was submitted for publication, through the agency of the contact person set out above, at 18.10 on April 12, 2023.
For further information:
Ivo Mönnink, CEO
Sensys Gatso Group AB
E-mail: 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, Costa Rica, Germany, the Netherlands, Sweden and the USA, and a branch office in the United Arab Emirates and has 284 employees. The Sensys Gatso Group’s shares are listed on Nasdaq Stockholm.
For further information, visit www.sensysgatso.com