Filtronic’s strong end to 2023 has continued, with the announcement of a $6m (£4.8m) contract to supply Solid State Power Amplifiers (SSPAs) to a leading supplier of low orbit Earth (LEO) satellite equipment. The contract provides evidence of Filtronic’s capability and growing standing within the space market, in our view. Meanwhile, the company’s £4.5m defence win, announced yesterday, demonstrates continued progress in the business’s traditional defence and telecoms verticals. We are not changing our estimates at this stage but see clearer scope for upside. Continued execution could open the potential for a sustained acceleration in growth with demand for high-end radio frequency systems growing and Filtronic has rare capabilities in this field. The company’s rating is now starting to factor in an acceleration in growth and margin expansion, but given recent progress, this looks entirely merited.
20 Dec 2023
Filtronic - $6.0m win further strengthens space credentials
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Filtronic - $6.0m win further strengthens space credentials
Filtronic plc (FTC:LON) | 47.0 -0.2 (-1.1%) | Mkt Cap: 102.0m
- Published:
20 Dec 2023 -
Author:
Dan Ridsdale -
Pages:
2
Filtronic’s strong end to 2023 has continued, with the announcement of a $6m (£4.8m) contract to supply Solid State Power Amplifiers (SSPAs) to a leading supplier of low orbit Earth (LEO) satellite equipment. The contract provides evidence of Filtronic’s capability and growing standing within the space market, in our view. Meanwhile, the company’s £4.5m defence win, announced yesterday, demonstrates continued progress in the business’s traditional defence and telecoms verticals. We are not changing our estimates at this stage but see clearer scope for upside. Continued execution could open the potential for a sustained acceleration in growth with demand for high-end radio frequency systems growing and Filtronic has rare capabilities in this field. The company’s rating is now starting to factor in an acceleration in growth and margin expansion, but given recent progress, this looks entirely merited.