What MTI Wireless does
MTI Wireless Edge Ltd (LON:MWE) develops and produces high-quality antennas for the commercial, radio-frequency identification (RFID), and military markets.
The company’s products can be used for wireless and mobile internet applications, while its military hardware encompasses a wide range of broadband, tactical and specialised communications antennas and systems.
The group’s Mottech Water Solutions provides water management systems for agricultural irrigation.
How is it doing
For the nine months to 30 September, MTI reported a pre-tax profit rise of 44% to US$2.4mln as revenues climbed 12% to US$29mln.
In February 2020, MTI's St Petersburg office bagged its largest order to date: a contract worth around US$1.5mln from a Russian customer for the supply of radio frequency components, for delivery the same year.
A month earlier, a follow-on order of US$0.6mln arrived for an existing US$1mln contract from last year, to manufacture military aerials. The additional order announced is to be delivered within 12 months.
What the boss says: CEO Moni Borovitz
Chief executive Moni Borovitz said in November that the firm had seen “significant growth” in its order book across all three of its business divisions - antennas, water control and consulting services - as well as “substantial demand” for antennas capable of carrying 5G mobile internet.
“We believe that this demand for 5G broadband has the potential to provide substantial future growth for our business”, Borovitz said, adding that current trends meant the group was “very positive” about meeting its goals of increased revenue, profits and free cash flow.
In January 2020, Borovitz said the company was seeing expansion and growth opportunities “in all sectors of the antenna industry, particularly in the 80 GHz spectrum as mobile operators start to implement the roll-out of their 5G networks”.
Watch the video
- 5G antennas are potentially a huge market for MTI
- Further orders continued to flow in 2020