The chairman of Knowsley-based ceramic automotive brake disc manufacturer Surface Transforms has said the board is “confident” in achieving profitability in FY23, after a “transitional” year where the company made a number of major investments to grow capacity.
For the year ended 31 December 2022, revenues at the listed business surged from £2.37m to £5.12m, although loss before tax widened from £4.58m to £6.05m.
Gross margin also decreased slightly from 65 per cent to 60 per cent.
During the period, the company increased its order book by £175m (lifetime value) to £290m and secured a contract with US based OEM 9.
Surface Transforms plc (LON:SCE) is a manufacturer of next-generation carbon-ceramic brake discs for automotive and aircraft applications and has been certified to IS9001-2000 since 2008 and was certified to TS16949 automotive quality accreditation and AS9100C aerospace quality accreditation in 2015.