Filtronic

Overview
Price performance
Financials
Research
Thematics

Filtronic is a designer and manufacturer of advanced radio frequency (RF) communications products supplying a number of market sectors, including mobile telecommunications infrastructure, public safety, defence and aerospace.

While it continues to serve customers in its established markets (5G backhaul, defence and aerospace and public safety networks), Filtronic is seeing increasing demand for its transceiver modules in new applications such as LEO satellite communications, low latency banking networks, 5G test equipment and quantum computing.

Latest Insights

TMT |
Flash note

23.07.24

Filtronic — Follow-on order from SpaceX

TMT |
Update

21.06.24

Filtronic — FY24 ahead of expectations

TMT |
Update

25.04.24

Filtronic — Agreement with SpaceX drives upgrades

TMT |
Update

06.02.24

Filtronic — Backlog supports strong growth from H224

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Sector

TMT

Equity Analyst

Katherine Thompson

Director

Key Management

Jonathan Neale

Chairman
Michael Tyerman

CFO
Richard Gibbs

CEO

Balance Sheet

Forecast net cash (£m)

5.2

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	9.7	54.7	326.1
Relative	10.0	51.5	298.8
52 week high/low	77.0p/14.5p

Financials

Filtronic has received a follow-on order from SpaceX worth $9m/£7.1m. This is the second order Filtronic has received since it signed the strategic partnership with SpaceX in April and results in the vesting of a further 2.17m warrants, taking vested warrants to 4% of the company’s share capital as at the time of signing. We believe that this order is for use in Starlink ground stations. In addition to further follow-on orders of this type, we believe there will be more opportunities for Filtronic to supply products for use in Starlink satellites in the medium term.