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Currency in GBP
Last close As at 26/05/2023
GBP0.13
▲ −0.75 (−5.56%)
Market capitalisation
GBP27m
Filtronic is a designer and manufacturer of advanced radio frequency communications products supplying a number of market sectors including mobile telecommunications infrastructure, public safety, defence and aerospace.
E-band radio links that meet 5G capacity requirements have lower latency than fibre cables of the same length. This makes private point-to-point mmWave links a more attractive solution for latency-critical applications such as automated, high-frequency, financial trading systems because transaction times are reduced, which creates a competitive advantage when trading shares. Other applications where low-latency high-capacity networks could deliver significant advantages are plant safety control systems, security monitoring and autonomous vehicle controls.
Director
Jonathan Neale
Chairman
Michael Tyerman
CFO
Richard Gibbs
CEO
Forecast net cash (£m)
1.2
Forecast gearing ratio (%)
N/A
| % | 1M | 3M | 12M |
|---|---|---|---|
| Actual | 8.5 | (7.3) | 30.8 |
| Relative | 12.7 | (3.4) | 31.4 |
| 52 week high/low | 16.8p/9.0p |
Filtronic has won a contract worth $0.8m (£0.6m) with a global provider of low latency microwave and mmWave private networks. The contract is for the design, development and manufacture of high-performance power amplifier modules which will be incorporated into next generation point-to-point microwave radios. Management expects that the revenue attributable to this contract will be recognised in FY24. The contract follows on from a £0.4m development contract for the same customer which was completed in calendar 2022.
| Y/E May | Revenue (£m) | EBITDA (£m) | PBT (£m) | EPS (fd) (p) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2021A | 15.6 | 1.8 | 0.1 | 0.14 | 91.1 | 15.1 |
| 2022A | 17.1 | 2.8 | 1.5 | 0.53 | 24.1 | 9.8 |
| 2023E | 16.6 | 1.3 | 0.1 | 0.13 | 98.1 | 21.1 |
| 2024E | 20.7 | 2.1 | 0.9 | 0.41 | 31.1 | 13.1 |
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