Filtronic Share Discussion Threads

[wisecat2] 28/9/2023 13:44

DP. The website has had a major upgrade over the months and now it's in great shape. Well done who ever was in charge

[donald pond] 28/9/2023 08:06

FTC LinkedIn worth following. They seem to be everywhere. We don't know if it translates into sales or profits but it is much more active and professional than 2-3 years ago

[finimps] 22/9/2023 11:22

Davwal, you make fair points...based on the last set of results. However, my investment in this company is for the long term, and it appears to me that the outlook for Filtronic is improving rapidly. New contracts are coming in thick and fast and I believe the next set of results will show a very different picture. I continue to hold, and in fact will buy more in the near future.

[davwal] 22/9/2023 10:13

As a potential holder, I'm quite impressed, but I feel the PE is now way too high, even assuming reasonable growth. That will get ironed out eventually, because investor expectations become too great and anything less than regular updates verging on the bleeding miraculous get heavily punished. That adjustment, when it comes could prove expensive to later entrants.

[estienne] 21/9/2023 17:25

Shame the markets aren't impressed

[zipstuck] 21/9/2023 11:35

Well they seem to be hitting their near term targets
Thumbs up from

From Final results




Achievements

There have been several notable achievements over the last year which set the potential for sustainable growth and future revenues, some of which are as follows:

-- Our first development of an E-band SSPA module for the market leader in LEO space communications.

-- Secured production orders and enabled the launch of the Morpheus X2 E-band transceiver that more than doubles the transmission range of current 5G backhaul radio links.

-- Taking advantage of new semiconductor process IP we launched a series of prototype chip developments in CY2023 with promising results

-- We secured our second and third DSTL programmes in FY2023 and continued to build our relationship as a supplier of turnkey RF solutions to the UK MoD.

-- Focusing on our filter design expertise we secured orders in EW, air and shipborne radar, battlefield communications and emerging quantum computing applications.

-- Secured three separate programmes for custom high-performance E-band transceivers in private network applications associated with private data communications and high-frequency trading platforms.

Outlook

We operate in a period of economic and geopolitical uncertainty, but one in which our technology is in demand, and the expertise we offer is in short supply. Our strategic markets are well positioned for growth and our lead customers continue to invest in next generation RF solutions. The disruption to semiconductor supply chains that impacted our business in FY2023 are improving, and we feel that we now have the resources and skills necessary to look forward with optimism to the new trading period.

Filtronic's core markets represent industry verticals that have a robust outlook and align well with the needs of the post-pandemic world. Public safety, mobile communications, a sovereign defence capability and the rapid development of LEO space networks, are well funded sectors that resonate with governments, investors, and the public at large.

Business plans for FY2024 reflect our confidence in the markets we serve to deliver long term sustainable growth. We have an open and honest culture that is proactive and highly motivated to deliver excellence in all aspects of our business. We will further develop our prospects over the next 12 months with a focus on the following activities:

-- Maximise the opportunity associated with the fast-growing LEO Space backhaul communications market, including both ground station and payload applications.

-- Development of next generation MMIC designs that will enable us to continue the evolution of our mobile telecom backhaul solutions.

-- Develop our scalable Cerus power amplifier platform to maximise the range of power options at selected frequency bands required for LEO space communication links.

-- Champion the UK Government National Semiconductor Strategy and position Filtronic as a trusted sovereign supplier of advanced RF packaging solutions.

-- Develop our manufacturing capability to add plastic encapsulated devices to our portfolio of hybrids and SiP solutions.

-- Selectively target funding from agencies and UK Government initiatives that support and underpin the delivery of the Filtronic technology roadmap.

-- Continued investment in our marketing activities including enhanced web content and strategic use of social media platforms for targeted marketing.

-- Strengthen the sales organisation with the deployment of direct sales and business development resource in the UK and Western Europe and expand indirect channels in the USA and Europe through distribution and representative networks.

-- Consolidate the return on the investment in capital equipment by winning outsourced assembly and test ("OSAT") opportunities with customers who require specialist hybrid and plastic QFN packaging capability.

-- Continue to align our business processes and equip our facilities to achieve the accreditation necessary to undertake a higher level of UK defence programmes.

I am pleased with the progress that the business has made in the last financial year and remain excited by the potential that exists at Filtronic. There is an increasing demand for our high-performance products and unique RF design capabilities, and based on our investments in FY2023, I believe we are building the IP portfolio, resources, and expertise necessary to scale the business. The specific market segments that we have identified for growth continue to develop at pace and as we embark on a new financial year, I believe we are well placed to deliver long term shareholder value.

[estienne] 21/9/2023 11:06

Its still relatively small and there aren't that many base stations with E-Band

[bazworth] 21/9/2023 08:06

The new contract is expected to be delivered this current financial year too. Should be a cracker of a year given this contract, the others recently announced as well as the recovery within the other sectors.

We may see a brief trading update on the 26th October re the first few months of fy23/24

Cheers

[53cockers] 21/9/2023 06:15

Another fantastic contract yet again estienne is proved wrong This company is going from strength to strength with growth in all areas Space will be transformational

[estienne] 19/9/2023 18:24

They're the same low value R&D contracts that they've been living off for years. They aren't likely to lead anywhere

[wisecat2] 18/9/2023 15:55

Estienne I have spoken to the local recycling plant and they are happy to grant funding of £5 towards a new broom. Arnab will throw in £2. wow that in Yorkshire is a hour of work

[bazworth] 18/9/2023 12:51

The opportunities being opened up by Filtronic are absolutely brilliant!!

Well done to the whole team!!

[estienne] 18/9/2023 11:17

"The total grant funding to be received by Filtronic is GBP170,000 in addition to a further GBP76,000"! WoW! At Yorkshire rates that's 2 man years of work!

[maxplus2] 18/9/2023 09:35

Good win for FTC. Lots of caching upto do for UK Govt. As the concept of DTEP have is already in use by the French Govt.for a long time to support their industries

[finimps] 14/9/2023 12:47

BusinessLive article suggests Filtronic have secured £170,000 government funding for this project. Not massive financially but important recognition of the company's abilities.

[donald pond] 14/9/2023 10:07

hxxps://x.com/Filtronic/status/1701879234552037391?s=20
Same news via twitter. Not really sure what it means: is FTC being paid to do this, or is it simply a showcase opportunity?

[bazworth] 13/9/2023 16:11

Finimps, as follows:

Filtronic, the leading provider of advanced RF and mmWave solutions, has been selected by the Defence and Security Accelerator (DASA) for the prestigious Defence Technology Exploitation Programme (DTEP), supported by Innovate UK. This scheme, sponsored by the Ministry of Defence’s Directorate of Industrial Strategy and Exports (DISE), which aims to foster innovation and enhance defence supply chains by supporting small and medium-sized enterprises (SMEs) in developing state-of-the-art materials, technologies and processes.

Under the DTEP award, Filtronic will undertake a groundbreaking project titled “Low cost and SWAP high density packaging for future RADAR” designed to develop a specialist, plastic encapsulation capability for compound semiconductor devices, focusing on high-density System in Package (SiP) designs. The project will prioritise low-weight, low-cost, high-density packaging for high-power semiconductor devices, specifically designed to perform in challenging operational environments for the MoD, Royal Navy, Royal Air Force, and their global allies.

Key technical areas to address include die attach for optimal thermal and mechanical performance and the development of custom solutions to mitigate issues such as wire bond lift, mould bleed and package delamination. By reducing size, weight, power and cost (SWAP-C) while increasing complexity, Filtronic will initially target transmit-receive modules for electronically scanned airborne radar systems. However, the applications for this packaging technology extend to other detector, sensor and communication systems in the defence, industrial and commercial sectors.

“This opportunity not only demonstrates our technological expertise but also strengthens our commitment to supporting the UK’s defence industry, it’s sovereign supply chain and future radar programmes”, highlighted Tudor Williams, director of technology at Filtronic. “Filtronics advanced manufacturing site in Sedgefield is committed to providing a leading sovereign plastic packaging capability to the UK defence industry and we’re excited to showcase this as part of this project”.

[finimps] 13/9/2023 15:37

hxxps://filtronic.com/news-events/news/filtronic-win-dasa-contract/

[estienne] 11/9/2023 07:56

That was announced in July. Its an R&D programme and they really need some large product orders

[bazworth] 09/9/2023 11:18

We appear to be in the thick of it!!

hxxps://filtronic.com/news-events/news/filtronic-win-major-contract-with-european-space-agencys-artes-programme/

RF and mm-Wave specialist, Filtronic, has announced the successful contract win from the European Space Agency (“ESA”), supported by the UK Space Agency, as a result of a recent funding call in the area of Space for 5G/6G and Sustainable Connectivity. The €3.7M contract falls under ESA’s Advanced Research and Telecommunications Systems (“ARTES”) programme, which capitalises on a company’s innovative idea and develops it into a successful commercial deployment, keeping Europe at the leading edge of the fiercely competitive global satellite communications market.

This win will enable Filtronic to develop advanced mmWave products for satellite payloads and gateway links from satellite to ground stations, providing ubiquitous broadband connectivity as a critical component in future telecom networks. With over 40 years of RF history, Filtronic is well placed to exploit the opportunities in the highly disrupted ‘New Space’ market, where price and ability to manufacture, with high precision, at volume have become as critical as performance.

“Filtronic has already developed a range of technologies and products for mmWave bands up to 114.5GHz,” for the terrestrial telecommunications market explained Tudor Williams, Director of Technology at Filtronic. “This contract win allows us to further develop our core IP in a suite of solutions targeted at the Low Earth Orbit market. Satellite operators are increasingly turning to Ka, Q/V, W-band frequencies to deliver the ultra-high bandwidth data links and Filtronic is uniquely positioned to adapt existing product, manufactured in commercial volumes, for the specific requirements of space.

“Building upon recent successes in LEO ground systems, this project provides Filtronic with the opportunity to supply low-cost payload solutions to other customers that require high-bandwidth feeder link solutions in future satellite constellations. This contract will act as a real launchpad for our space ambitions” concluded Williams.

Dr Paul Bate, CEO of the UK Space Agency, said: “As we rely increasingly on satellite communications across all aspects of our daily lives, innovations that improve and expand the scope of these services have become an economic engine for the global space sector.

“Filtronics products, which aim to tackle major challenges, such as bandwidth requirements for emerging telecoms, provide a brilliant example of how the UK is excelling in this area; exploiting opportunities to enhance services that make our lives better and contribute to the growth of our thriving satellite communications and wider space sector.”

“Filtronic is in a great position to deliver this project,” commented Fabrizio De Paolis, 5G/6G Implementation Manager of ESA. “Its in-house design and manufacturing capability is one-of-a-kind in the UK and, through its ARTES programme, ESA is delighted to partner with Filtronic to establish a leading position in this exciting and growing sector.

The ARTES contract win has led to Filtronic advertising for several roles at its headquarters in Sedgefield County Durham, with opportunities for significant future growth and career development. “It’s always great to see new jobs being created in the North-East, even more so when they’re linked to innovative high growth sectors like space,” commented Paul Howell, MP for Sedgefield.

[donald pond] 09/9/2023 10:06

https://x.com/donaldpond6/status/1700437562781757521?s=46&t=YfR7OyhMlqZLtI-h86iCxA

[estienne] 06/9/2023 09:28

LT the analysis was provided by Simply Wall Street. I agree that Filtronic occupies a niche position which is why I've invested in it. However, there aren't many microwave companies floated on the S/E which makes it difficult to form a peer group. You could include it among small high tech companies such as BVC,KMK and Telydyne. What stands out is the high P/E which is pretty worrying. Filtronic need to get some substantial orders in order to show any growth

[lateralthinker] 04/9/2023 15:25

Estienne - I am interested to know how you arrived at your 'industry average' P/E ratio. Rather than take an industry average, which for Communications will include all sorts of diverse companies (from service providers to manufacturers), it is better to look at specific peer group companies. Which companies would you put in the Filtronic peer group?

[estienne] 01/9/2023 12:58

The high P/E ratio indicates that the share price is driven by speculation rather than on the basis of earnings. It wouldn't be so bad if they had any large manufacturing customers but they only seem to attract R&D clients wanting prototype or one offs