Sensys Gatso receives contract from Saudi Arabia worth SEK 275 million

03/08/2020 - Sensys Gatso Group, a global leader in traffic safety solutions, has received a new contract from Tahakom in Saudi Arabia. Tahakom is an existing customer from whom Sensys Gatso received its first order in 2018, worth SEK 60 million. The new contract is worth SAR 119 million, corresponding to approximately SEK 275 million.

 

The contract concerns delivery of in-vehicle enforcement systems. Meanwhile, extra TRaaS options such as support & maintenance services have been offered and could positively affect the size of the contract. Deliveries will start in August 2020 and are estimated to end within the second half of 2021.

Sensys Gatso Group has a long standing presence in the Middle East Region through its regional office in Dubai, from where the company attends to customers in the region.  

“We are very happy to have been awarded our largest single contract in the Middle East region. I am especially pleased to see this project go ahead during these challenging times, which shows the resilience of the Middle East region. The size of the contract is a reflection of Saudi Arabia’s commitment to increased traffic safety, in line with vision 2030”, says Saman Alae Naziri, General Manager, Sensys Gatso Group MENA.

“With projects of this size we are putting our company’s purpose of changing driving behaviour to safe lives into reality”, says Joris Lampe, Chief Commercial Officer, 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 12.00 on August 3, 2020.

 Release (pdf)

 

For further information:
Ivo Mönnink, CEO
Sensys Gatso Group AB
E 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, Germany, the Netherlands, Sweden and the USA, and a branch office in the United Arab Emirates. The Sensys Gatso Group’s shares are listed on Nasdaq Stockholm and has 252 employees.

Published: 03/08/2020