Liverpool city region supercar brake disc maker Surface Transforms more than doubles its revenues in 2025 and says it is moving ‘meaningfully closer to substantial and profitable operations’. Tony McDonough reports

There is early new year cheer for supercar brake disc maker Surface Transforms (ST) with clear signs it may be about to put its troubles behind it.

In an update to the stock exchange on Monday, the Knowsley firm revealed revenues for the 12 months to December 31, 2025, had come in at £18m, more than double the £8.2m reported a year ago. Operating loss was £8.7m, significantly lower than last year’s £23.4m.

ST said revenues in the second half of the year had been a record £9.9m. It is projecting further revenue growth for 2026, saying it is on track to achieve sales of around £27m for the full year.

“The business has moved meaningfully closer to substantial and profitable operations, with materially higher output and revenues,” the AIM-listed company said.

ST manufactures carbon fibre reinforced ceramic automotive brake discs for high performance cars. Customers of the business include, or have included, Porsche, Ferrari, Jaguar Land Rover and Aston Martin. It employs around 170 people.

It currently has a forward order book of £390m and says its prospective customer pipeline is worth around £700m. However, despite the popularity of its products in 2023 ST experienced what it described as “the most difficult year in the history of the company”.

It has been dogged by issues related to the ramping up of production and those troubles continued into 2024. During 2025 the company finally started to get on top of the production issues and now looks ready to kick on.

In late 2023 the firm secured a £13.2m ERDF loan from Liverpool City Region Combined Authority. That now fully utilised for capital investment “in line with management expectations”.

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In Monday’s update it said: “Except for additional furnace capacity, all major improvement programmes 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.”

It concluded: “FY25 has been a transformative year, marked by substantial progress in scaling production and improving processes… 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.