REG - Filtronic PLC - Half year trading update

FiltronicAnnouncement

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RNS Number : 2895L  Filtronic PLC  12 December 2025

 

12 December 2025

Filtronic plc

("Filtronic" or "the Company")

 

Half year trading update

Major strategic progress, growing pipeline and order book, and confidence in
full-year expectations

 

Filtronic plc (AIM: FTC), the designer and manufacturer of advanced RF
solutions for the space, aerospace and defence, and telecoms infrastructure
markets, provides the following trading update for the six months ended 30
November 2025 (H1 FY2026).

 

The first half of the year saw major strategic progress, including the award
of Filtronic's largest-ever contract with SpaceX, for its next-generation
E-band GaN product. This contract also marks the first significant commercial
deployment of this technology, for which Filtronic sees significant future
commercial opportunity across the wider space market. Meanwhile, Filtronic
continues to expand its customer base, securing a €7m (£5.8m) multi-year
contract with a leading European aerospace manufacturer, to supply RF
assemblies for integration into a major Low Earth Orbit satellite
constellation programme, and a £13.4 million contract with a leading European
defence prime, underscoring the Company's strengthening position in a sector
where the need for secure, resilient RF solutions continues to increase.

 

This momentum is strengthening the Company's overall customer mix, supporting
a broader pipeline of opportunities and extending the long-term visibility of
the Group's customer order book.

 

Innovation remains central to Filtronic's long-term growth strategy. The
Company's roadmap for market leading high-frequency GaN products is advancing
well, with launches planned for calendar year 2026 to address emerging
opportunities in space ground systems, and the recent award of £1.2m funding
to support development of a 550W Ka-Band solid-state power amplifier,
reinforces the Company's intent to capitalise on the significant opportunity
emerging in the global space ecosystem.

 

The Group ended H1 FY2026 in a strong financial position with £10.5 million
of cash at bank (31 May 2025: £14.5m), having self-financed the capital
project to relocate to the larger headquarters and manufacturing site at
Sedgefield, and £8.5 million in net cash when excluding right of use property
leases (31 May 2025: £12.3m), providing a solid foundation for further
investment and strategic growth.

 

Filtronic enters the second half with a robust order book, strong customer
engagement and growing pipeline, providing the Board with confidence in a
strong H2 and a full-year performance in line with market expectations(1).

 

Nat Edington, Chief Executive Officer, said: "Demand for high-frequency,
secure and resilient communications continue to strengthen across our core
space, aerospace and defence markets, creating long-term structural drivers
for Filtronic. The first half saw us make significant strategic progress,
including landmark contract wins and continued advances in our technology
roadmap. With strong commercial momentum, a robust order book and an
organisation scaling effectively to meet a growing pipeline of opportunities,
we remain confident in delivering against market expectations for the full
year."

 

(1) As at 11 December 2025, the Board understands that market expectations for
FY2026, based on published analyst forecasts, are for revenue of £55.5m,
within a range of £54m to £56.9m and EBITDA of £10.9m, within a range of
£10.1m to £12.0m.

 

Enquiries:

 Filtronic plc                                                                     Tel. 01740 618800 or

 Nat Edington (Chief Executive Officer)                                            investor.relations@filtronic.com

 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

                                                                                 (mailto: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.

Operating globally and headquartered in Sedgefield, UK, Filtronic is listed on
the AIM market of the London Stock Exchange.

 

 

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