Looking further forward, Itaconix has a vast addressable...
MTI Wireless Edge - Strong progress continues
|Revenue breakdown (2018)|
|Source: MTI Wireless Edge|
|Segmental profit (2018)|
|Source: MTI Wireless Edge|
MTI Wireless Edge operates through four divisions. We summarise the businesses and their performance below:
Antennas - supplies antennas for both military and commercial markets from 100 kilohertz (KHz) to 90 gigahertz (GHz).
During 2018, the Antennas business experienced a 4% decline in revenue, reflecting the completion of a large project in 2017 in the commercial antennas segment. The military segment achieved revenue growth of 26%. Going forward we expect growth from both segments, with drivers including 5G wireless in the commercial segment.
Water Solutions – provides wireless remote control solutions for water management and irrigation applications, including agricultural, municipal and water distribution applications, through the Mottech subsidiary acquired in 2015.
This business grew by 9% in 2018 and has delivered a 10% compounded annualised growth rate since it was acquired. We expect strong growth to continue due to growing global demand for smart irrigation.
Representation – provides expert consultation services specialising in radio frequency and Microwave solutions and applications into the Israeli and Russian markets. This business delivered 4% revenue growth in 2018 and 37% growth in operating profit. The outlook remains favourable going forward.
System Engineering - design and integration of aerostat operation systems, used for surveillance and border control. This is the smallest division but could contribute material incremental profit to the group in 2019 and 2020 due to a large project referenced in the results release.
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