TEWKESBURY, UK – Trackwise Designs reported revenue of £3.3 million (US$4 million) in the first five months of 2022. Revenue for full-year 2022 is expected to be below market expectations on the back of reduced near-term UK electric vehicle OEM customer demand.

The order book for delivery for 2022 is £4.6 million. Cash received in June relating to asset financing for capital equipment currently onsite and commissioned at the company’s Stonehouse facility is £3.2 million.

Trackwise Designs reported a projected adjusted operating profit and pre-tax profit in line with management expectations.

Ed.: £1 = US$1.23