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MTI Wireless Edge eyes potential from 5G implementation

The company’s products can be used for wireless and mobile internet applications, while its military hardware encompasses a range of tactical and specialised communications antennas
Irrigation
BigPicture
The group operates a subsidiary, Mottech Water Solutions, which provides water management systems for agricultural irrigation

• Develops antenna for commercial and military markets
• Subsidiary Mottech provides water management solutions
• Provides services for sectors including wireless and mobile internet

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 operates a subsidiary, Mottech Water Solutions Ltd, which provides water management systems for agricultural irrigation.

Inflexion points

• In May, MTI announced that its wireless irrigation control solutions subsidiary, Mottech Water Solutions Ltd had signed an agreement valued at more than US$3mln for the provision of solutions in the Chinese market, the largest individual order ever received by the group

• At the end of April, the company said it would deploy a tethered balloon system as part of a US$1.4mln deal for installation and integration support services

• In March, the firm inked a US$1mln contract to develop military antennas from an existing customer

• In its latest full year results, MTI reported an 82% rise in operating profit to US$2.9mln while revenues rose 35% to US$35.5mln

Blue Sky

Commenting on the Chinese contract, Mottech’s general manager Dudi Shani, commented: "We see this agreement as an important step in the realisation of the substantial potential in this territory.

“We believe that China has the potential to become Mottech's biggest market over the coming years."

Meanwhile, MTI non-executive director Richard Bennett, said the company was starting to see “traction” with the company’s deal flow and that its order book was “continuing to swell”.

He added that “more geographic expansion” was expected from Mottech over the next 12-24 months following the China deal.

The company was also leading the creation of back-hall services to link new 5G antennas to the internet and there was now visibility on a “pipeline of orders” for its services.

“5G is definitely going to be a growth area…the level of infrastructure across the globe will need to be upgraded” Bennett said, adding that he expected contract and newsflow potential from the 5G rollout going forward.

With shares trading at around 24.5p as of 15 May, MTI carries a market cap of £22.6mln.

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