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272.50 12.00 (4.62%)

Bid:

270.00

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275.00

Spread: 5.00 (1.852%)

Market Cap: £598.24m

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Filtronic backs expectations after "major" first half progress

Fri, 12th Dec 2025 12:21

(Alliance News) - Filtronic PLC on Friday said it has confidence in a strong second half and expects its full-year performance to fall in line with market expectations.

The Sedgefield, England-based maker of advanced micro electronics said it saw "major strategic progress" in the first half of the year, including the award of its largest-ever contract with SpaceX.

"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," the firm said.

Filtronic said it ended the first half at the end of November with GBP10.5 million of cash at bank, down 28% from GBP14.5 million at the end of May.

It noted that it self-financed the capital project to relocate to a larger headquarters and manufacturing site in Sedgefield.

The company said it has GBP8.5 million in net cash when excluding right of use property leases, compared to GBP12.3 million at the end of May.

It expects to meet full-year market expectations, which the firm put at revenue of GBP55.5 million and earnings before interest, tax, depreciation and amortisation of GBP10.9 million.

The firm reported revenue of GBP56.3 million for financial 2025 with adjusted Ebitda of GBP17.0 million.

"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," said Chief Executive Officer Nat Edington.

"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."

Shares in Filtronic were down 0.4% at 141.40 pence on Friday afternoon in London.

By Michael Hennessey, Alliance News reporter

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