Surface Transforms has won a contract with one of its OEM customers.
The company will supply carbon ceramic brake discs to the German performance car manufacturer. The model using the brake discs will not be launched until October 2021 and then annual revenues should be around €2m. In the year to May 2020, group revenues of £1.9m are forecast, so this deal alone could nearly double group revenues.
The customer may incorporate the discs on other models.
Surface Transforms continues to lose money. finnCap forecasts revenues of £5.6m for 2021-22, but there is still a loss of £300,000. More cash may need to be raised.
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