Filtronic has announced a contract win worth more than £2.0m with a new customer in the satellite communications equipment market, demonstrating its ability to diversify outside its three core sectors. However, specific semiconductor component shortages mean that some deliveries for mobile telecommunications infrastructure and defence applications will be delayed from FY23 (year ending May 2023) into FY24. We have cut our FY23 revenue and EBITDA estimates by 13% and 37% respectively to reflect these delays.
01 Feb 2023
Filtronic - Expansion of presence in satcom market
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Filtronic - Expansion of presence in satcom market
Filtronic plc (FTC:LON) | 47.5 -0.7 (-3.1%) | Mkt Cap: 103.1m
- Published:
01 Feb 2023 -
Author:
Anne Margaret Crow -
Pages:
4
Filtronic has announced a contract win worth more than £2.0m with a new customer in the satellite communications equipment market, demonstrating its ability to diversify outside its three core sectors. However, specific semiconductor component shortages mean that some deliveries for mobile telecommunications infrastructure and defence applications will be delayed from FY23 (year ending May 2023) into FY24. We have cut our FY23 revenue and EBITDA estimates by 13% and 37% respectively to reflect these delays.