Surface Transforms ( (GB:SCE) ) has shared an announcement.
Surface Transforms has announced an update on its financing, trading, and operations for the fiscal year ending December 2024. Despite facing cash constraints and operational challenges in Q4, the company reported FY24 revenue of £8.2m, up from £7.3m in 2023. Key customers have shown strong support, providing over £4m in cash advances and helping to optimize manufacturing processes. However, these constraints have impacted revenue and yield, leading to inconsistent operational results. The company is focused on resolving working capital issues to improve output and meet customer demand. Capital expenditure continued at £5.5m for the year, funded in part by a £13.2m loan agreement for capital projects.
More about Surface Transforms
Surface Transforms plc, listed on AIM as SCE, is a leading manufacturer of carbon fiber reinforced ceramic automotive brake discs. It is the UK’s sole manufacturer and one of the only two major producers globally. The company serves major OEMs in the automotive industry, focusing on high-performance applications for both internal combustion and electric vehicles. Surface Transforms leverages proprietary technology to produce durable, lightweight brake discs that offer superior performance and longevity compared to traditional iron discs. The company holds the London Stock Exchange’s Green Economy Mark.
YTD Price Performance: -10.87%
Average Trading Volume: 20,006,066
Technical Sentiment Consensus Rating: Buy
Current Market Cap: £5.34M
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