Sedgefield-based advanced communications specialist Filtronic more than doubled annual revenues and tripled profits on the back of major contract wins in the space and defence sectors.
The AIM-listed company grew revenues to 拢56.3 million in the year to 31 May 2025, a 121% increase.聽
Adjusted EBITDA surged to 拢17m from 拢4.9m, while operating profit rose to 拢13.4m from 拢3.6m the year before.
The major increases come in a record financial year in which the company agreed a landmark agreement with Elon Musk鈥檚 SpaceX, as well as contracts with Viasat, Airbus and the European Space Agency in the satellite sector.聽
In defence, it secured an airborne radar programme with Leonardo and made progress with both QinetiQ and BAE Maritime Systems.
鈥淔Y2025 has been an excellent year for Filtronic plc, marked by exceptional operational execution, accelerated growth, and strategic wins across our core markets,鈥� said Filtronic chairman, Jonathan Neale.
鈥淏uilding on the momentum established in FY2024, we entered this year with conviction – and have delivered record-breaking performance across multiple fronts.聽
鈥淲e have a clear five-year product and technology roadmap and have made targeted investments in our customer-facing functions to ensure close alignment with client needs.聽
鈥淭hese efforts are already yielding greater market insight, sharper product focus and promising new business opportunities.鈥�
The company, which has a market cap of 拢271.5m, also launched Prometheus, which is said to be the most powerful solid-state power amplifier currently available.
It also advanced its transition to Gallium Nitride (GaN) technology, boosting performance for satellite and defence systems.聽
Filtronic increased R&D spending to 拢6.7m, more than double the prior year, with 拢1.5m capitalised.聽
To support its growth ambitions, the company opened a new engineering office in Cambridge to attract radio frequency (RF) and software talent, while construction is underway at a custom-built facility in Sedgefield that will double UK manufacturing capacity when completed next year.聽
With a 拢5m undrawn revolving credit facility allowing for more flexibility, it expects continued double-digit growth in its next financial year.
Since trading opened this morning, its share price has increased from 122.6p to 126p at the time of writing.