It’s Only Common Sense: The Dangers of Staying Stagnant in a Changing World
Dan’s Biz Bookshelf: ‘Born to Create’
American Made Advocacy: The Administration Changed, but Our Industry’s Needs Remain
Trackwise Designs Releases FY22 Trading Update
June 30, 2022 | Trackwise Designs PLCEstimated 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.
Stonehouse facility
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.
Share on:
Suggested Items
Case Study: PCB Design Flaws Affect Product Cost
12/03/2024 | Matt Stevenson, ASC SunstoneIn the rapidly evolving aerospace industry, precision and reliability are paramount. “AeroTech Solutions” (not the company’s real name), an aerospace company specializing in satellite technology, recently faced a significant challenge that tested its operational integrity: A flaw identified in the PCB design of its latest satellite model led to unexpected delays and cost overruns.
VORAGO Technologies, Collabora Partner to Advance Open Source in Space
11/25/2024 | GlobeNewswireVORAGO Technologies, a leading provider of radiation hardened and radiation tolerant MCUs and MPUs for Aerospace and Defense, and Collabora, a leader in open source software and support, announced they are partnering to advance the use of open source to achieve resilience for mission critical applications in space.
Aeluma Secures NASA Contract to Advance Quantum Dot Photonic Integrated Circuits for Aerospace and AI Applications
11/25/2024 | ACCESSWIREAeluma, Inc., a semiconductor company specializing in high-performance, scalable technologies for mobile, automotive, AI, defense and aerospace, communication and quantum computing, announced it has been awarded a contract by NASA to develop quantum dot photonic integrated circuits (PICs) on silicon.
AirBorn Announces Agreement to be Acquired by Molex
11/18/2024 | PRNewswireAirBorn, a global manufacturer of high reliability electronics and components, announced it has entered into an agreement to be acquired by Molex, a leading global connectivity and electronics solutions provider.
RTX's Collins Aerospace to Provide UK Chinook Helicopters with Interoperable Avionics System
11/12/2024 | RTXCollins Aerospace, an RTX business, has received a $19 million contract from the Department of Defense to equip a fleet of new H-47 Chinooks for the UK Royal Air Force with its Common Avionics Architecture System (CAAS) avionics management suite.