19/12/2016 - Sensys Gatso Group, a global leader in traffic safety solutions, has received an order worth SEK 5 million, corresponding to EUR 0.5 million, from the United Arab Emirates, UAE.
This order follows a previous order received in August this year, and comes from one of Sensys Gatso Group's current customers in the United Arab Emirates. The order covers systems for speed and red-light enforcement and is planned to be delivered during the first half of 2017. The order is conditioned upon that Sensys Gatso Group receives a Letter of Credit, securing the payments, from the customer before the end of the year.
Sensys Gatso Group has been delivering traffic safety systems to the United Arab Emirates since 2001, which have contributed to significant improvements to road safety in the country. Sensys Gatso Group has established its regional office for MENA (Middle East Northern Africa) in Dubai, the United Arab Emirates. The MENA region with a population of more than 400 million people has been important to the group, representing 15% of the group revenues 2015, and is continuing to develop to one of Sensys Gatso Group's most important markets. However, the political risk in the region is high, and is influenced by the uncertainties following the election result in the USA. This, together with the low oil price, are currently slowing down the market.
The region is characterized by knowledgeable and demanding customers, that are regularly procuring small to mid-size projects. This is in contrast to certain other markets where Sensys Gatso Group is active, eg. Europe that is characterized by larger national tenders with long contract validity periods.
"This order confirms the good cooperation we have been able to establish through our presence in the United Arab Emirates" says Saman Alae Naziri, General Manager, Sensys Gatso Group MENA in Dubai, the United Arab Emirates.
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 14.20 on the 19th of December 2016.
For further 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.