Report
Richard Williamson

Filtronic - Recovery continues into H122

Filtronic’s H122 results show a 12% growth in revenues accompanied by an 83% jump in EBITDA. The recovery in demand in the US public safety market first observed in Q421 has been sustained, more than offsetting a drop in sales of 5G XHaul transceivers caused by a supply chain issue. This issue was resolved during Q222, so we leave our FY22 estimates broadly unchanged and introduce estimates for FY23.
Underlying
Filtronic PLC

Filtronic designs and manufactures customized radio frequency (RF), microwave and millimeter-wave components and subsystems. Co. operates two business segments: Filtronic Wireless, which designs and manufactures RF filters, microwave subsystems, and ultra wide band antennas for the mobile telecommunications industry; and Filtronic Broadband, which designs and manufactures millimeter-wave products as well as provides build to print manufacturing and testing services for microwave and millimeter-wave products. The product range for the Filtronic Broadband segment includes transceiver modules and multi-chip, surface mountable transceiver packages at microwave, E-band and V-band frequencies.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Richard Williamson

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