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MTI Wireless Edge (LON:MWE) - Post-merger, all on track

During the last week, the company has made two significant announcements:

  • The nomination of Moni Borovitz as CEO, from finance director previously, subject to the annual general meeting on 14 March.
  • A share buyback of up to £150k, commencing 28 January

The company came into being in its current form via the August 2018 merger of MTI Wireless Edge with MTI Computers, with Moni Borovitz playing a leading role in delivering the merger.

In this report, we present a reminder of the key dynamics of the merger. We note that since the merger, the share price has yet to stabilise and we believe that the buyback may be helpful in this regard.

Executive summary

There has been no change in the company's trading outlook since our last report in October, and we continue to forecast revenue growth across all four business areas, driving +26% earnings per share (EPS) growth for 2019e.

In the antennas business, in particular, we are encouraged by recent news on the 5G wireless space. Nokia and Telefonica have rolled out new 5G tests in Berlin, which we understand will include MTI antennas. We believe that 5G wireless offers a potential growth "kicker" for MTI in the next few years.

Quick facts: MTI Wireless Edge Limited

Price: 33.32 GBX

AIM:MWE
Market: AIM
Market Cap: £29.28 m
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What's in the report?

Financial results and forecasts
Growth drivers
Management
Market conditions
Milestones & inflection points

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