Filtronic Share Discussion Threads

[beeezzz] 31/10/2024 18:35

Good volume today, few large trades after U/C trade.

[umik1] 31/10/2024 11:48

https://www.business-live.co.uk/technology/filtronic-points-more-contracts-pipeline-30266810#amp-readmore-target

[napoleon 14th] 31/10/2024 11:12

Added after selling my MKS. Potential can't be ignored.

[eyeofthetiger] 31/10/2024 10:43

When Starlink falls in price, which it inevitably will and their services are competitive with Virgin Media, BT etc, then hands down EVERYONE will choose Starlink.

"Pricing can be a toss-up between all three satellite providers depending on the ISP or plan you choose and the route you go with the equipment. Starlink holds the advantage in basically every other category, including max speeds, latency, data allowances and contract requirements."

There is no comparison as Starlink is an always on connection and essentially has DUAL WAN failover.

Lets say you move home - you just pick your gear and plug and play again and again. This just allows for internet to deployed ANYWHERE you have power.

[faz] 31/10/2024 10:08

Ive been monitoring the website. It does say there is a congestion charge which is vague - does it mean there isnt much capacity or that demand is outstripping supply? I get 150mps easily for £20 a month now and there's one cable and no satellite box. No doubt all options will be cheaper over time.

[thetrotsky] 31/10/2024 08:47

I agree. The market appears to be more focused on the fact that H1 is more than likely to be be stronger than H2.

It would appear, based on the market's initial reaction this morning, that the market (and presumably FTC) believes that even if the "advanced discussions" lead to new contract wins they are unlikely to now materially impact H2, as we've only got seven months left of the current financial year. There is also the possibility, new production capacity aside, that H1 results in FY26 might only, at best, flatline in comparison to FY25 unless there are some material new orders to replace the SpaceX retrofit work.

Nevertheless, IMHO the addition of two new production lines in the space of just five months suggests that FTC is confident that some (or all) of these "advanced discussions" will lead to some material new contracts in the near future.

I think it would be good if FTC could lessen its current reliance on SpaceX orders and broaden its key customer base. FTC needs material new orders from customers other than SpaceX to protect itself against the possibility that further orders from SpaceX might be impacted by future events outside its current control.

It's never good business practise to make your business overly reliant on just one customer for longer than is absolutely necessary. SpaceX has opened the door; now FTC needs to leverage the great opportunity SpaceX has given them to onboard new customer contracts of commensurate size to futureproof its business (and also drive future growth). Historically, lead times on discussions turning into contacts has sometimes taken years (or more). Hopefully horizons are narrowing and years have now become months (at worse).

[foetus in your brain] 31/10/2024 08:32

74tom is right, but having retrofitted the network is it likely that's the end of it? As the volume of communication and the size of the network continues to grow, isn't retrofitting likely to become a never ending process of upgrading? And if FTC are the best at this (and why would starlink use us if we weren't) won't competitors want to use our products as well? And then remember this just one business line and defence is also booming. Having said that, absolutely we want more clients. A couple of years ago we were announcing wins for £200k. Now the threshold is much higher, but clearly capacity is expanding and more clients are onboarding. But again, that's a long process. So saying we will get more client news soon is a huge positive

[bigboots] 31/10/2024 08:25

Stonking set of results in every sector.

[tomg23] 31/10/2024 08:21

Small punters getting taken for a ride this morning chasing their tails now

[74tom] 31/10/2024 08:12

"Consequently, we anticipate H1 to be stronger than H2, as the retrofit completes, and we revert back to supporting the extension of the network."

It'll be interesting to learn how much stronger when they report next Feb. If H1 is >60% of full year forecasts then they certainly need to pull some new contracts in soon as otherwise the FY26 forecast will be a real challenge. And therein lies the problem with huge single customer concentration...

[foetus in your brain] 31/10/2024 08:07

I think H1 being stronger than H2 may have concerned some, but really it all looks very positive. As ever, contract news will drive the next leap in price.

[eyeofthetiger] 31/10/2024 08:00

I follow them all including RKLB and many others. I think Trump takes POTUS and that squashes all Space competitors for a few years.

[simon gordon] 31/10/2024 07:54

tiger,

Keep an eye on AST Space Mobile:

AST SpaceMobile unfolds debut production direct-to-smartphone satellites




Starlink is facing increasing competition. If Trump loses, you could conceivably see him gradually shut out of defence-related work as his close relationship with Putin makes him a security risk.

[eyeofthetiger] 31/10/2024 07:48

This company is going to seriously start moving. Found this in a telegram channel this morning.I think £1 is going to come faster than most think and then who knows where:

- Yesterday RR announces a £1B investment into Aerospace

- A few weeks back, FTC was forced to expand their facility to meet SpaceX demand

- Strong order flow from SpaceX in H1 FY2025 for Starlink per RNS today

- Anyone unfamiliar with 'Starlink'. This is the future of the internet. It is basically high speed internet access from Space. Bezos and Branson are trying to get a piece of that piece via their Kuiper and Virgin Gallatic programs. Musk has a MASSIVE advantage with Starlink as his parent company (SpaceX) has already positioned the most low earth orbit (LEO) sattelites in Space. The other big companies are nowhere near this progress and I believe Starlink services are already being offered to residents in US or Canada. No need to dig and lay underground or overground infrastructure for Internet Service Providers (ISP). A simple antenna on your house or car and you have full speed uninterrupted internet access. No more drop outs on the motorway as you won't be relying on Mobile towers for data. Internet access in third world countries becomes easier. Heck soon you could be on top of Mount Everest and get internet access. This is the future of the internet.

- "To enable this, we added another production line in July 2024, and we expect to add another line in November 2024 to provide further capacity to ensure we can capitalise on other market opportunities as they are presented" (today's RNS) Historically this company was like ARM, look at their MCAP back in the day.

- From todays RNS - "This has enabled us to run multiple projects in parallel including the developments for the European Space Agency, QinetiQ and BAE"

- GaN (Gallium Nitride) V-band chipsets have delivered a very encouraging set of results. Research GaN or just watch this interview with FTC CTO from 2 days ago about GaN. Absolute gamechanger - Be quick because the video keeps getting taken down and going private. This was a podcast a couple of days ago and the CTO will explain the GaN chipset.

- "We are in advanced discussions for some further contracts in the space and aerospace and defence market which we hope to provide updates on soon, and have enjoyed some smaller development contract wins in recent months. Of particular note are a couple of contract wins in the space market utilising our recent investment in plastic encapsulation machinery. Encouraged to purchase by our lead defence customer for sovereign capability, we are now seeing wider interest in the technology offering throughout our core markets"

- UK Investor Magazine sees the huge upside here - hxxps://x.com/UKInvestorMAG/status/1851559512538271886

- If Trump takes office there is no doubt in my mind Elon gets a position in his cabinet to propel green projects and promote his EV and Space projects. He will have a monopoly on this. And guess which little old company on the LSE goes into beast mode?.....yup you got it.

FTC is the best Space play on the LSE and could be one of those rags to riches stories. This is like the Amazon story of the 1990s.

[mesquida] 31/10/2024 07:23

And this from a company that is not known for over hyping the story.
I suspect that we shall soon see this year's high ( 80p ? ) being re-tested.

[bazworth] 31/10/2024 07:07

Smashing last paragraph!

"We are in advanced discussions for some further contracts in the space and aerospace and defence market which we hope to provide updates on soon, and have enjoyed some smaller development contract wins in recent months. Of particular note are a couple of contract wins in the space market utilising our recent investment in plastic encapsulation machinery. Encouraged to purchase by our lead defence customer for sovereign capability, we are now seeing wider interest in the technology offering throughout our core markets."

Onwards we go....!

Cheers

[beeezzz] 30/10/2024 17:09

Lucky I topped up on Monday....I can see this heading towards a £1 by Y/E..

[pugugly] 30/10/2024 15:36

IHT relief reduced the Business Asset Disposal Relief (BADR) and Investors' Relief (IR) rate to 14% from 6 April 2025 and to 18% from 6 April 2026

[bigbigdave] 30/10/2024 14:07

Budget done, buyers back in today

[beeezzz] 30/10/2024 10:24

Lets hope the old witch doesn't upset the markets, but encourages more investment by reducing taxes on those that risk their own money.....

Labour say they want to grow economy, discouraging investment is not the way to go about that..

[foetus in your brain] 30/10/2024 10:10

https://x.com/UKInvestorMAG/status/1851559512538271886?t=vhYyKnF7z_CEQAjmnU17tg&s=19Maybe behind today's rise. And a paywall unfortunately

[umik1] 30/10/2024 07:59

https://x.com/Filtronic/status/1851534133014479299?s=19

[melloteam] 29/10/2024 13:22

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