Further increase to Ministry of Defence contract
MTI announced the Israeli Ministry of Defence has increased PSK's contract to US$8.5m (from US$2.2m originally and US$4.5m in June), representing an almost fourfold (≈286%) rise; the cost-plus contract, while lower margin than some Group contracts, is lower risk, is expected to complete in 2027, and provides strong long-term revenue visibility that supports a healthy order backlog and pipeline; MTI will report Q3 results for the nine months to 30 September 2026 on 9 November 2026.
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MTI Wireless Edge Ltd (AIM: MWE), the technology group focused on comprehensive communication and radio frequency solutions across multiple sectors, is pleased to announce that the Israeli Ministry of Defence (the “Israeli MoD”) has further increased the value of its contract with P.S.K. Wind Technologies Limited (“PSK”), a subsidiary of the Group, for the supply of communications infrastructure to a total value of US$8.5m.
The contract was first announced on 7 April 2026 and was worth US$2.2m at that time. An increase in the value of the contract to approximately US$4.5m was announced on 8 June 2026. Today’s increase takes the contract’s value to almost four times the original award. The expanded contract is expected to be completed in 2027.
MTI's CEO, Moni Borovitz, commented:
“It is encouraging that, within a relatively short period, the Israeli MoD has shown the confidence in our capabilities to increase this contract almost fourfold. The contract is on a cost-plus basis. While this carries a lower margin than some of the Group’s other contracts, it is lower risk for PSK to deliver and provides strong long-term revenue visibility.
“Reflecting the focus of governments globally on defence, we continue to see a growing number of opportunities in this sector, with good demand across our full range of defence-related products.
“Overall, the Group remains very well positioned, with a healthy order backlog and pipeline of potential orders across all three divisions.”
Notice of results
MTI will announce its results for the nine months ended 30 September 2026 on 9 November 2026.
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