County Durham-based Filtronic plc, a designer and manufacturer of products for the aerospace, defence, space and telecoms infrastructure markets, on Wednesday reported a 120% increase in revenue to £56.3 million for the financial year ended May 31, 2025.
On June 10, Filtronic said it had secured its largest order to date with SpaceX.
In a trading update on Wednesday, Filtronic said: “The board is pleased to confirm trading momentum continued in H2 FY2025, resulting in both revenue and adjusted EBITDA being marginally ahead of market expectations.
“This follows multiple increases in expectations over the course of the financial year. Subject to audit, the board expects to report FY2025 revenue of approximately £56.3m (FY2024: £25.4m) and adjusted EBITDA of no less than £16.6m (FY2024: £4.9m).”
The Sedgefield firm added: “Alongside its continued successful engagement with its lead space customer, Filtronic is pleased to see its engagement with the more established segments of the European space market moving forward in recent months, announcing contract wins with Viasat and the European Space Agency, supplying technology for the direct to device market, in addition to an order to supply Airbus for its system on the OneWeb constellation.
“Within the Aerospace and Defence market a recent £0.8m order from Leonardo reflects a deepening relationship and entry into a new project.
“Rising European defence spending coupled with macro tailwinds such as RF engineering shortages, demand for sovereign capability, and market convergence further strengthen Filtronic’s position in this sector.”
In its outlook, Filtronic said: “A healthy order book provides significant order coverage as the company commences the new financial year which, coupled with a growing pipeline, leaves the business in a strong position to meet market expectations for FY2026.
“The pipeline now includes geostationary (GEO) and medium Earth orbit (MEO) opportunities across a range of end-use applications, in addition to the low Earth orbit (LEO) satellite opportunities where the company has had much of its recent success.”
Filtronic CEO Nat Edington said: “We are delighted with this strong trading performance, demonstrating our ability to ramp quickly and respond to market needs.
“This has positioned us well with our lead customer where there is strong alignment on rapid execution. We look forward to FY2026 with further optimism as we continue to invest in the business and capitalise on the expanding market opportunity in front of us.
“The focus will be on broadening the customer base, completing key technology developments and relocating our state-of-the-art manufacturing site in Sedgefield to a new facility at the same science park, doubling our operational footprint by doing so.”