Let’s start with the order intake, I think you have two really big orders, Saudi Arabia and Costa Rica. Do you want to tell us a little bit about these big orders? And it seems that the big orders are becoming more and more common for you.
What we see actually is that in the past nine months, we had three big orders coming in. We had a huge order coming from Australia for a solution there at the 67 million. And that was followed by Costa Rica. I guess we’re going to talk about that a little bit more later on. And then we had our largest order in our history, which was a 275 million order from Saudi Arabia. We’re very proud of that. You see three large orders in nine months, it is difficult to call it a trend. But it is a big step forward for us. And that’s obviously generating this very high order intake of 909 million on a 12 month rolling order intake basis.
And if we are considering that, now that you have more cash following your directed share issue, maybe it’s a potential for you to go after even larger contracts because a lot of people are wondering about how you would use the proceeds from the directed share issue, maybe you can address this.
Yes, if you become larger, then of course, your orders are becoming larger as well. And certainly if you execute them on a very similar timeline, then there is a need for, you know, working capital increase there. But also, you know, in order to accelerate our growth specifically in the United States, we are growing very fast and we want to increase that growth. That would mean investment in fixed assets in operations that needs to grow as well. And on top of that, we’re looking at new regions. Hopefully we’re going to talk a little bit about Latin America, a growth region for us. And again, that also requires some investments. If you want to focus on that area, you need to start thinking about investing a bit more. So this capital raising of 75 million was actually very good for us. We’re happy with it.
And speaking about Latin and South America, we, of course, need to talk a little bit about Costa Rica as well. I think that for some investors, they see this as an exotic market with lots of risks, etc. On the other hand, you were pretty confident when they ask about this on on the call. Can can you maybe expand a little bit on that?
Yeah, I can. I mean, at first, Costa Rica, I think you should see them as the Switzerland of Latin America. This is a very, very solid country with lots of investments from abroad, specifically from the United States. It’s a very environmentally oriented country, a stable government, so I don’t think it’s exotic at all. So that’s one thing. Furthermore, we have a very strong contract in place with the Costa Rican government. So and thirdly, it is definitely in the interest of Costa Rica to have a traffic enforcement, not only saving lives, but also maybe generating also some budget to really reinvest again in making traffic safer on the roads in Costa Rica. So, all in all, I don’t believe there is any chance that this will be canceled, if anything. And I I elaborated on that. It’s going to be postponed. So we believe, it will be shifted into the beginning of 2021. But that’s how we look at it right now.
Let’s let us finish with some talk about the school zone market, this seems like a really interesting and growing opportunity for you. I see that some of your customers or some of the cities you’re working in. They’re quite small in terms of population. Still a very decent contract size usually. Can you discuss this opportunity in general?
Well, in general, I think schools’ own speed enforcement is something that lies very close to our hearts because we’re protecting kids from getting involved in accidents on the roads. On top of that, if you introduce speed enforcement in cities going through enforcement around schools, then the community starts to see the impact, the benefit from speed enforcement. So it’s a very good first step in introducing our customers to speed enforcement. And yes, the volumes we see are high in these school zones, which I think is linked to the fact that they are not operational at all times, which means that they are only operational during school time when the kids are at school and if people tend to forget about it and they tend to speed again after that. So we see a lot of extra tickets coming from it. So these are good programs for us from a revenue perspective, but definitely also from a from a point of view of protecting the life of kids in the United States.
Yeah, definitely. Thank you very much, Ivo. Keep up the good work.
Thank you, Victor.
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