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Sensys Gatso raises the revenue expectations from the Dutch procurement contract from SEK 250 million to SEK 400 million
02-11-2023
Sensys Gatso Group, a global leader in traffic safety solutions, through its subsidiary Sensys Gatso Netherlands, has now started deliveries under the procurement contract that was announced on 18 March 2022. Under this contract Sensys Gatso will supply, operate and support fixed systems for speed and red light enforcement in The Netherlands. The Dutch Public Prosecution Services (Openbaar Ministerie) will replace the existing automated traffic enforcement infrastructure before the end of 2024 with additional investments in systems during 2025. The Dutch government has budgeted a total project value of EUR 74 million. Sensys Gatso expects that 50% of the total project will be allotted to Sensys Gatso and therefore raises its revenue expectation from EUR 25 million to EUR 37 million or approximately SEK 400 million.
Approximately 50% of the contract value, SEK 200 million, relates to system sales revenue for rolling out the enforcement systems. The remaining part of the contract value of SEK 200 million relates to recurring TRaaS revenue, relating to Service, Maintenance and Operations of the enforcement solution with a fixed term of 6 years with multiple possible extensions up to a maximum of 12 years.
Niki Gatsonides, Managing Director of Sensys Gatso Netherlands B.V. comments: “After the acceptance of the first milestone back in Q2 2023, Sensys Gatso has now started the rollout phase by delivering and installing the enforcement systems in the Netherlands. We work closely together with the Dutch Public Prosecution Services (Openbaar Ministerie) to keep the rollout pace as high as possible and expect that we can roll out the maximum of 50% that can be allotted to a single vendor before the end of 2024. By this we expect to raise the contract value for Sensys Gatso from EUR 25 million to EUR 37 million over the full contract period."
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 10.05 on 2 November, 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