Filtronic PLC
14 December 2004
FILTRONIC PLC
TRADING UPDATE ON HANDSET PRODUCTS DIVISION
Further to the Chairman's statement made at the AGM of Filtronic PLC (the '
Company') on 24 September 2004 regarding a review of options for the Handset
Products division, including the possibility of an IPO, the Company announces
that the management of its Handset Products division is holding a briefing to
selected analysts today. At this meeting, details on the historical performance
of the business will be disclosed together with some guidance on the future
outlook. Specifically:
Year ended 31 December 2004* 2003
Number of antennas sold c. 102 M 117.5 M
Revenue c. 75 €M 87.4 €M
Operating profit c. 10 €M 26.2 €M
EBITDA c. 15 €M 34.8 €M
*Management forecast
The above numbers are unaudited and have been compiled by the management of the
Handset Products business in accordance with Finnish GAAP.
Operating margin in 2004 is expected to fall as the proportion of customers
ordering integrated antenna modules has increased.
Outlook
The management of the Handset Products division are today providing the
following guidance on the 2005 calendar year performance of the division:
• Management aim to grow revenue from 2004 to 2005 by c 20% based on
currently identified projects with specific customers
• Average selling price is expected to continue to fall although management
expect that this is likely to be offset by improvements in efficiency
Long term revenue growth is expected to be driven from the continuing expansion
of the cellular antennas business together with sales of non-cellular antennas
and mechanical components.
END
For further information contact:
Filtronic plc
Professor David Rhodes Tel: 01274 231 021
Mob: 07850 827 280
John Roulston Tel: 01274 231 017
Mob: 07800 706 318
Binns & Co PR Ltd
Peter Binns Tel: 020 7786 9606
Mob: 07768 392 582
Paul McManus Tel: 020 7153 1478
Mob: 07980 541 893
This information is provided by RNS
The company news service from the London Stock Exchange