Source: Tony McDonough posted a review of Surface Transforms 2020 and a projection of the company’s performance for 2021, during which revenues are expected to grow. The article, posted on Liverpool Business News, is excerpted here.
KNOWSLEY, U.K. – Supercar brakes manufacturer Surface Transforms (ST) says 2020 was a “transformational” year for the company with 2021 likely to see a big surge in revenues.
Knowsley-based Surface Transforms manufactures carbon ceramic brake discs for high performance cars. In the last few months the business has signed two major deals. This included a “game-changing” £27.5m deal with an unnamed global vehicle maker.
Surface Transforms Unveils Major OEM Brake Deal
In a trading update it revealed revenues for the year to December 31, 2020, came in at £2m, a small increase on the £1.9m generated in 2019. However, the new deals could see that figure soar to £20m in 2021 eventually rising to £75m a year in the next few years.
ST, which is listed on the Alternative Investment Market, has successfully maintained its operations through the COVID-19 pandemic. It has continued working with existing customers and with potential new customers.
The company hopes to secure contracts with vehicles manufacturers to supply its brake discs for future models. ST works using ‘production cells’ and it has reported that new machines for production cell line were being commissioned ready for volume production in the second quarter of 2021.
It says this cell is likely to generate around £20m in revenues each year. The company has contracts stretching into 2024 and 2025 and once its five production cells are up and running the annual revenue potential is around £75m.
As part of this expansion, ST is continuing to grow its headcount and it announced in the update it has appointed its first human resources executive, Rebecca Hooper, who will reporting to chief executive, Kevin Johnson.