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Getting to Know Your Designer
In this issue, we examine how fabs work with their design customers, educating them on the critical elements of fabrication needed to be successful, as well as the many tradeoffs involved. How well do you really know your customer? What makes for a closer, more synchronized working relationship?
In this issue, the biggest names in PCB manufacturing share their economic outlook for the upcoming year and beyond. As you will see, they were all bullish on our industry, but there was some apprehension as well. No one wants to get burned by another the supply chain disruption.
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Trackwise Designs Releases FY22 Trading UpdateJune 30, 2022 | Trackwise Designs PLC
Estimated reading time: 1 minute
Trackwise Designs, a leading provider of specialist products using printed circuit technology, provides an update on current trading for the year ended 31 December 2022 (FY22).
FY22 trading update
The Company now has an IHT sales pipeline with 95 customers and opportunities in total (excluding any early stage opportunities) predominantly across the primary target markets of Electric Vehicles ("EV"), Medical and Aerospace. Notably, the Group has a growing number of opportunities in the EV target market, including Tier 1 and Tier 2 supplier opportunities for a number of major OEMs.
However, in the short term, due to reduced near term UK EV OEM customer demand, Group sales in 2022 are now expected to be below previous market expectations. Despite this revenue impact, the Group reports that, due to the benefit of specific contract terms, it expects to deliver FY22 adjusted operating profit*, and adjusted profit before tax*, in line with market expectations.
The Company's total order book for delivery in FY22 is currently £4.6 million, of which the IHT order book is £2.5 million, and the APCB order book is £2.1 million.
For the five months to 31 May 2022 the Company has achieved total revenue of £3.3 million (6 months to 30 June 2021: £4.1 million, 12 months to 31 December 2021: £8.0 million), which includes five month IHT revenue of £0.5 million (6 months to 30 June 2021: £0.6 million, 12 months to 31 December 2021: £1.5 million).
Cash of £3.2m has been received this month relating to asset financing for capital equipment now on site and commissioned at Stonehouse.
Completion and commission work is continuing at Stonehouse. The site houses the high-volume, low mix, roll to roll IHT production facility and will significantly increase Trackwise's production capacity to meet expected demand for IHT across its target markets, initially prioritising EV. The Company looks forward to inviting investors to a Capital Markets Day at Stonehouse later this year.
Collins Aerospace, an RTX business, has been selected by Air India for a full suite of avionics hardware catering to the airline's expanding Boeing 737 MAX fleet.
Further to the announcement of 17 August 2023, BAE Systems has now received the necessary regulatory approvals and will be executing steps in the coming days to complete the acquisition of Ball Aerospace from Ball Corporation.
With such an extremely newsy week, it was hard to select just five items you absolutely must read, but here goes. We have advocacy news from PCBAA and IPC, global market data on AI PC and GenAI smartphone hardware, a roundtable discussion on sales and marketing, a bookended pair of international milaero stories emphasizing a healthy aerospace industry, and an industry report on global semiconductor sales.
Honeywell announced it will invest $84 million to expand its Olathe manufacturing facility in Kansas. The project, which is expected to generate nearly $47 million in total gross domestic product (GDP) and contribute $18.3 million to state and local taxes in the first six years, supports the company's alignment with the compelling megatrend of the future of aviation.
Ventec International Group Co., Ltd. is pleased to announce that its VT-901 polyimide material is now fully and exclusively qualified by ESA in ACB Belgium’s manufacture of High-Density Interconnect (HDI) Printed Circuit Boards.