Filtronic PLC AGM Trading Update & Notice of Results
31 Oktober 2024 - 8:00AM
RNS Regulatory News
RNS Number : 3114K
Filtronic PLC
31 October 2024
31
October 2024
Filtronic
plc
(the
"Company" or "Filtronic")
AGM STATEMENT AND NOTICE OF
RESULTS
Filtronic plc (AIM: FTC), the
designer and manufacturer of products for the aerospace,
defence, space and telecoms infrastructure markets is pleased
to provide the following update ahead of its Annual General Meeting
being held later today at 11.00am.
Manufacturing output has reached
planned customer volume and quality requirements following strong
order flow from SpaceX in H1 FY2025. The cadence of orders we
enjoyed was to support new gateway link rollouts, in line with the
growth of the Starlink constellation, and to retrofit the existing
gateway links in the field with E-band Solid State Power Amplifiers
("SSPA") to increase bandwidth and lower latency in the system.
Consequently, we anticipate H1 to be stronger than H2, as the
retrofit completes, and we revert back to supporting the extension
of the network. This gives confidence of delivering results for the
full year in line with market expectations.
To enable this, we added another
production line in July 2024, and we expect to add another line in
November 2024 to provide further capacity to ensure we can
capitalise on other market opportunities as they are
presented.
Engineering developments on our
technology roadmap have been progressing well. We recently launched
our W-band SSPA at the European Microwave exhibition whilst the
development of our Gallium Nitride V-band chipsets have delivered a
very encouraging set of results. These chips will be key to
transceiver and SSPA product development at this frequency, with a
strong inflow of market interest in the SSPA which has application
in the space market where it is highly likely to be a widely
adopted frequency band by key players for communication links. We
have enjoyed recent success in recruitment of engineers into our
team as we have exciting work for talented people. This is key to
unlocking growth potential in the business to service the
technology roadmap, opportunity pipeline and customer developments.
This has enabled us to run multiple projects in parallel including
the developments for the European Space Agency, QinetiQ and
BAE.
We are in advanced discussions for
some further contracts in the space and aerospace and defence
market which we hope to provide updates on soon, and have enjoyed
some smaller development contract wins in recent months. Of
particular note are a couple of contract wins in the space market
utilising our recent investment in plastic encapsulation machinery.
Encouraged to purchase by our lead defence customer for sovereign
capability, we are now seeing wider interest in the technology
offering throughout our core markets.
Filtronic will announce its
half-year results for the six months ended 30 November 2024 on 4
February 2025.
Enquiries:
Filtronic plc
|
Tel. 01740
618800 or investor.relations@filtronic.com
|
Nat Edington (Chief Executive
Officer)
|
|
Michael Tyerman (Chief Financial
Officer and Company
Secretary)
|
|
Cavendish Capital Markets Limited
|
Tel. 020 7220
0500
|
Jonny Franklin-Adams/ Trisyia
Jamaludin (Corporate Finance)
|
Sunila de Silva (ECM)
|
|
|
|
Walbrook PR Limited
Nick Rome/Joe Walker
|
Tel. 020 7933
8780 or filtronic@walbrookpr.com
|
|
|
|
|
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