REG - Filtronic PLC - Year End Trading Update and Notice of Results

FiltronicAnnouncement

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RNS Number : 2584O  Filtronic PLC  25 June 2025

25 June 2025

Filtronic plc

("Filtronic" or "the Company" or "the Group")

 

YEAR END TRADING UPDATE AND NOTICE OF RESULTS

Trading momentum maintained - FY2025 Results ahead of market expectations

 

Filtronic plc (AIM: FTC), the designer and manufacturer of advanced RF
solutions for the space, aerospace and defence, and telecoms infrastructure
markets, is pleased to provide the following trading update for the financial
year ended 31 May 2025 ("FY2025").

 

Financial highlights

 

The Board is pleased to confirm trading momentum continued in H2 FY2025,
resulting in both revenue and adjusted EBITDA being marginally ahead of market
expectations. This follows multiple increases in expectations over the course
of the financial year. Subject to audit, the Board expects to report FY2025
revenue of approximately £56.3m (FY2024: £25.4m) and adjusted EBITDA of
no less than £16.6m (FY2024: £4.9m). Cash at bank on 31 May
2025 was £14.5m (30 November 2024: £7.2m). Net cash (net of all lease
obligations except right of use property leases) at 31 May
2025 was £12.3m (30 November 2024: £5.1m).

 

Operational highlights

 

The transformation of the business continued in FY2025, resulting in a 120%
increase in revenue to £56.3m, building on the 56% growth achieved in FY2024,
with expanded go to market capabilities, increased innovation capacity and
widening customer engagement.

 

Broadening customer engagement, across the European space and Aerospace and
Defence markets

 

Successful recruitment in H2 FY2025 has enabled the Company to service more
customers on new programmes.

 

Alongside its continued successful engagement with its lead space customer,
Filtronic is pleased to see its engagement with the more established segments
of the European space market moving forward in recent months, announcing
contract wins with Viasat and the European Space Agency, supplying technology
for the direct to device market, in addition to an order to supply Airbus for
its system on the OneWeb constellation.

 

Within the Aerospace and Defence market a recent £0.8m order from Leonardo
reflects a deepening relationship and entry into a new project. Rising
European defence spending coupled with macro tailwinds such as RF engineering
shortages, demand for sovereign capability, and market convergence further
strengthen Filtronic's position in this sector.

 

Continued industry leadership through innovation

 

Technology developments at the Group are proceeding at pace, with encouraging
results on chipset developments for new frequency bands. The Group expects
that some of these developments will be ready by calendar Q1 2026.

 

Filtronic was delighted to launch its ground-breaking Prometheus V-band
Amplifier at the IMS industry show in the USA earlier this month. The product
represents a major technological advancement for long-range mission critical
satellite communications, particularly with regards to ground station uplinks,
providing higher bandwidth, increased capacity and data rates than the lower
mmWave frequency bands currently adopted by the wider market.

 

Confident outlook and growing breadth of pipeline

 

A healthy order book provides significant order coverage as the Company
commences the new financial year which, coupled with a growing pipeline,
leaves the business in a strong position to meet market expectations for
FY2026.

 

The pipeline now includes geostationary ("GEO") and medium Earth orbit ("MEO")
opportunities across a range of end-use applications, in addition to the low
Earth orbit ("LEO") satellite opportunities where the Company has had much of
its recent success.

 

Notice of results

 

Results for the financial year ended 31 May 2025 will be announced on
Tuesday, 29 July 2025.

 

Nat Edington, Chief Executive Officer, said: "We are delighted with this
strong trading performance, demonstrating our ability to ramp quickly and
respond to market needs. This has positioned us well with our lead customer
where there is strong alignment on rapid execution. We look forward to FY2026
with further optimism as we continue to invest in the business and capitalise
on the expanding market opportunity in front of us. The focus will be on
broadening the customer base, completing key technology developments and
relocating our state-of-the-art manufacturing site in Sedgefield to a new
facility at the same science park, doubling our operational footprint by doing
so."

 

Enquiries:

 

 Filtronic plc                                                 Tel. 01740 618800 or investor.relations@filtronic.com
                                                               (mailto:investor.relations@filtronic.com)
 Nat Edington (Chief Executive Officer)
 Michael Tyerman (Chief Financial Officer)

 Cavendish Capital Markets Limited                             Tel. 020 7220 0500
 Jonny Franklin-Adams, Isaac Hooper, Trisyia Jamaludin (Corporate Finance)
 Sunila de Silva (Corporate Broking)

 Alma Strategic Communications                                 Tel. 020 3405 0205 or filtronic@almastrategic.com

 Caroline Forde, Hannah Campbell, Rose Docherty

 

Note: This announcement contains inside information which is disclosed in
accordance with the Market Abuse Regulation.

 

 

About Filtronic:

 

Filtronic is at the leading edge of advanced microelectronics globally,
specialising in the design and manufacture of mission-critical communication
networks. Operating from two global manufacturing sites and three engineering
centres of excellence, the company delivers solutions that span the full RF
spectrum. An extensive patent portfolio highlights Filtronic's ongoing drive
for innovation and technological leadership.

 

With a track record of over 45 years', Filtronic's technology is trusted
across high-performance sectors including space, aerospace, defence, telecoms
infrastructure and critical communications. The company develops core IP
building blocks and transforms them into highly customised solutions for
high-growth target markets. Filtronic's expertise enables seamless data
transmission, delivering greater bandwidth, lower latency and enhanced
connectivity.

 

Filtronic has successfully coupled this engineering expertise with investment
in state-of-the-art production equipment that enables the rapid transition of
a turn-key solution from product development to full scale, high-quality
manufacturing, at volume. The strategic markets of LEO space, aerospace and
defence are the focus of current product development programmes,
where Filtronic can add significant value, realise long term sustainable
margins and deliver shareholder value.

 

Headquartered in Sedgefield, UK, Filtronic is listed on the AIM market of
the London Stock Exchange.

 

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