✅Contracted value: approximately $17.1 million, excluding VAT, across two signed contracts with an Italian public-sector customer serving civil-protection and emergency-response needs.
✅Advance invoices issued: approximately $3.4 million, excluding VAT, representing 20% of the combined contract value. Advance billings do not, by themselves, indicate cash received or revenue recognized.
Scope: more than 200 vehicles equipped for firefighting and emergency-response applications, with engineering and assembly activities at Tekne’s Italian facilities.
✅Delivery schedule: the two contracts provide for delivery within 180 and 270 calendar days (approximately six and nine months), respectively, following formal notification of customer acceptance of the relevant vehicle prototypes, subject to contractual verification procedures, applicable suspensions and any agreed schedule adjustments.
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