24/08/2016 - Sensys Gatso Group, a global leader in traffic safety solutions, has received an order for traffic safety systems worth EUR 1 million from a customer in MENA (Middle East North Africa).
The order derives from a new customer in MENA and covers traffic safety systems for speed enforcement. Deliveries under this order will commence as soon as full payment has been received and are planned to be finalised within the first quarter 2017. Sensys Gatso Group has, in connection to this order, also signed a Memorandum of Understanding to cooperate on localization of production and transfer of know-how for potential further orders for this customer. However, the customer has of today not made any commitments in relation to further orders under the Memorandum of Understanding. The addressable market covered by the Memorandum of Understanding is a population of more than 60 million people, 15 million vehicles, a vast road network and more than 10 cities with a population exceeding 500,000.
The MENA region with a population of more than 400 million people has been key to the group, with 15% of the group's total revenues in 2015, and continues to develop as one of Sensys Gatso Group's most important markets. The region is characterized by knowledgeable and demanding customers running small to midsize procurement projects for traffic safety systems at regular intervals in contrast to some other regions like for instance Europe, that are characterized by larger long-term national projects.
"We are very excited to receive this first order and are looking forward to develop our cooperation with the customer in order to exploit the future potential in this area." says Torbjörn Sandberg, President and CEO of Sensys Gatso Group.
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 above, at 08:30 on 24th of August 2016.
For more information:
Johan Frilund, EVP Corporate Development
M +46 732-742 823
Sensys Gatso is a global leader in traffic management solutions for nations, cities and fleet owners. Sensys Gatso 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 at NASDAQ Stockholm. The Group has 202 employees and is the result of a merger of Sensys Traffic AB and Gatso Beheer B.V. following Sensys Traffic’s acquisition of Gatso Beheer.