Surface Transforms, the embattled Knowsley-based maker of carbon fibre reinforced ceramic disc brakes for supercars, has reported a rise of 120% in 2025 revenue to £18 million “representing further ongoing improvement with a record second half revenue …”
In a trading and operations update for the year, Surface Transforms reported that its operating loss before interest and tax reduced nearly threefold to £8.7 million (FY24: £23.4m).
In its outlook, the firm said it expects revenue of £27 million for 2026.
Customer prepayments were £13.3 million at the year end, marginally higher than the £12.9m as at June 30, 2025.
In its operations update, the firm said: “The company has continued integrating new equipment, automation, and process improvements during Q4 25.
“As expected, this temporarily impacted yield, which was 77% in Q4, up from 70% in Q3 and a marked improvement from 49% in Q1. This was below management’s internal 80% target which remains for Q1 2026.
“The range of weekly yield performance continued to improve during the second half, indicating that the transformation and experience applied to the issue is taking effect.
“Except for additional furnace capacity, all major improvement programs are now nearing completion, and no further significant changes are planned in the near term.
“Installation and commissioning of the new furnace is well advanced, and it is expected to be operational by the end of Q2 2026, supporting increased revenue and production output thereafter.”
In a summary and outlook, Surface Transforms said: “FY25 has been a transformative year, marked by substantial progress in scaling production and improving processes.
“The business has moved meaningfully closer to substantial and profitable operations, with materially higher output and revenues.
“Demand for our product remains strong. While challenges persist, customers are encouraged by the improvements underway. Cash remains tight but manageable.
“The business is well positioned for growth in 2026, and management expects to deliver FY26 revenue of approximately £27.0m with an EBITDA breakeven.”