Trackwise Designs (TWD)

Sector:

Electronic and Electrical Equipment

Index:

FTSE AIM All-Share

236.00p
   
  • Change Today:
    -14.00p
  • 52 Week High: 370.00
  • 52 Week Low: 114.34
  • Currency: UK Pounds
  • Shares Issued: 28.74m
  • Volume: 36,877
  • Market Cap: £67.84m

Trackwise Designs extends deal with EV manufacturer

By Josh White

Date: Tuesday 22 Jun 2021

LONDON (ShareCast) - (Sharecast News) - Printed circuit technology company Trackwise Designs announced an extension and amendment to its product manufacture and supply agreement with a UK-based manufacturer of electric vehicles, originally announced in September 2020.

The AIM-traded firm said that further to a change in the needs of the customer, the term of the agreement was extended to four years from three, with a "significant increase" in expected volumes and potential value.

First material revenues from the contract were now expected in the first half of 2022, rather than in 2021, however.

In the event all contracted volumes are achieved, the agreement would now be worth up to £54m over the period ending 31 December 2024, an aggregate increase of £16m over the original Agreement for up to £38m.

The company said that while material payments to Trackwise would be due in the event of lower volumes, the potential revenue value was not guaranteed in total as it was conditional on orders placed, supply, and annual pricing reviews.

It said the agreement could be terminated by either party after the end of 2024.

The agreement is for the supply of the company's 'Improved Harness Technology' (IHT) enabled flexible printed circuit boards for use in high and low voltage circuits in the manufacturer's vehicle battery modules and battery packs.

Trackwise said the technology reduces part-count and assembly time, while saving on space and weight.

"This agreement reaffirms the strength of our relationship with the customer and the importance they attach to our products, with significantly greater expected volumes and a considerably higher overall value anticipated over the lifetime of the agreement," said chief executive officer Philip Johnston.

"We are delighted with the decision which further validates our technology as being among the best available to the burgeoning electric vehicle industry."

At 1558 BST, shares in Trackwise Designs were down 13.72% at 195p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

TWD Market Data

Currency UK Pounds
Share Price 236.00p
Change Today -14.00p
% Change -5.60 %
52 Week High 370.00
52 Week Low 114.34
Volume 36,877
Shares Issued 28.74m
Market Cap £67.84m

TWD Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
64.61% below the market average64.61% below the market average64.61% below the market average64.61% below the market average64.61% below the market average
8.57% below the sector average8.57% below the sector average8.57% below the sector average8.57% below the sector average8.57% below the sector average
Price Trend
50.39% above the market average50.39% above the market average50.39% above the market average50.39% above the market average50.39% above the market average
24.32% above the sector average24.32% above the sector average24.32% above the sector average24.32% above the sector average24.32% above the sector average
Income Not Available
Growth
73.26% above the market average73.26% above the market average73.26% above the market average73.26% above the market average73.26% above the market average
76.47% above the sector average76.47% above the sector average76.47% above the sector average76.47% above the sector average76.47% above the sector average

TWD Dividends

No dividends found

Trades for 17-Sep-2021

Time Volume / Share Price
16:37 8,991 @ 235.45p
15:43 6,000 @ 235.00p
16:36 5,200 @ 238.00p
16:35 247 @ 236.00p
16:20 4,150 @ 235.49p

TWD Key Personnel

CEO Philip Johnston
CFO Mark Hodgkins

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