Half year trading update
Summary by AI BETAClose X
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 expectations1.
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:
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Filtronic plc Nat Edington (Chief Executive Officer) Michael Tyerman (Chief Financial Officer)
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Tel. 01740 618800 or investor.relations@filtronic.com |
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Cavendish Capital Markets Limited Jonny Franklin-Adams, Isaac Hooper, Trisyia Jamaludin (Corporate Finance) Sunila de Silva (Corporate Broking)
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Tel. 020 7220 0500 |
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Alma Strategic Communications Caroline Forde, Hannah Campbell, Rose Docherty |
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Tel. 020 3405 0205 or filtronic@almastrategic.com |
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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