Filtronic's H1 revenue dips slightly, EBITDA declines

Filtronic

03/02/2026 07:11

Overview

UK telecoms equipment maker's H1 2026 revenue slightly down year-over-year

Adjusted EBITDA and net income declined compared to H1 2025

Company secured largest-ever contract with SpaceX, valued at $62.5 mln

Outlook

Filtronic enters H2 FY2026 with record order book and increased customer diversification

Company expects 90% of FY2026 revenues covered by contracted orders

Filtronic targets emerging opportunities with next-generation GaN amplifier systems in 2026

Result Drivers

STRATEGIC INVESTMENTS - Filtronic's profitability reflected deliberate investments in people, facilities, and product development to position for growth

CONTRACT WINS - Significant contract momentum with largest-ever SpaceX contract and new multi-year agreements in space and defence

CURRENCY IMPACT - Weaker USD affected revenues due to significant exposure to North America

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
GBP 25.30 mln
H1 EPS
GBP 0.01
H1 Net Income
GBP 2.60 mln
H1 Adjusted EBITDA
GBP 5.10 mln
H1 Basic EPS
GBP 0.01
H1 EBIT
GBP 2.60 mln
H1 Pretax Profit
GBP 2.61 mln


Analyst Coverage

The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the communications & networking peer group is "buy."

Wall Street's median 12-month price target for Filtronic PLC is GBP203.50, about 11.2% above its February 2 closing price of GBP183.00

The stock recently traded at 53 times the next 12-month earnings vs. a P/E of 41 three months ago

Press Release: ID:nRSC4033Ra

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)