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Sensys Gatso Group has signed a new MSEK 100 facility agreement with Rabobank Netherlands for financing US Growth plan
20-06-2023
Sensys Gatso Group, a global leader in traffic safety solutions, has signed a new facility agreement with Rabobank Netherlands for financing the US Growth plan. The facility agreement can be used for investments in the US on Fixed Assets in Operations. The facility will remain available until 31 December 2024. The withdrawals from the facility are converted into loans of SEK 25 million each with a repayment period of 5 years.
Our business in the US solely focuses on TRaaS Managed Services. In this business model Sensys Gatso provides a full service to its end-customers, being municipalities and cities. The TRaaS Managed Services model includes investment in CAPEX (Camera and Installation) and operating the Enforcement program. With this new facility agreement the investments in Fixed Assets in Operations for these programs will be financed on a similar term as our customer contracts. The customer contracts are typically signed based on a first term of 5 years with extension possibilities.
Through this agreement Sensys Gatso Group has secured the financing of the investments needed to support the US Growth plan. Sensys Gatso Group has the ambition to grow the revenue to SEK 1bn by 2025 of which 60% is recurring TRaaS Business. A key contributor to this ambition is our growth plan in the US.
Sensys Gatso Group’s CFO Simon Mulder comments: "This new facility agreement will enable Sensys Gatso to continue investing in the US by growing its customer base and expanding with current customers. The US Business plan is a crucial part of our 2025 Ambition to have more than 60% TRaaS revenue”.
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, at 13.25 on June 20, 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, Saudi Arabia, 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