26 aug 25   mti wireless edge - interim results mti wireless edge ltd | mwe | 48.5 0 0.0% | mkt cap: 41.8m    rns number : 5188w mti wireless edge limited 26 august 2025       26 august 2025 mti wireless edge ltd ("mti", the "company" or the "group") interim results 'strong first half with 17% eps growth benefiting from global defence spend'   mti wireless edge ltd (aim: mwe), the technology group focused on comprehensive communication and radio frequency solutions across multiple sectors, is pleased to today announce its financial results for the six month period ended 30 june 2025.     financial highlights ·    revenues up 8% to us$24.1m (h1 2024: us$22.3m) ·    11% increase in operating profit to us$2.5m (h1 2024: us$2.25m) ·    net profit increased 6% to us$2.0m (h1 2024: us$1.86m) ·    basic earnings per share increased 17% to 2.50 us cents (h1 2024: 2.14 us cents) ·    strong financial position maintained with net cash standing at us$5.1m on 30 june 2025 (31 december 2024: $5.96m) after payment of dividends of $2.9m in april 2025, supported by significantly increased net cash provided by operating activities, up 66% to $2.5m (h1 2024: us$1.5m).   operational highlights   antenna division ·    the antenna division continues to experience strong revenue growth, driven by demand in both 5g and defence markets, with sales up by 23% during the period. global defence spending is increasing, particularly on next-generation military hardware, where antennas play a crucial role, a trend which is benefiting the division significantly. ·    the global military antenna market size was valued at usd 3.62 billion in 2024 and is projected to grow to usd 5.44 billion by 2029, exhibiting a cagr of 8.4% (research and markets, february 2025).   ·    sales of the 5g backhaul solution rose significantly by 40%, primarily driven by the indian market, though demand from this region remains challenging to predict. several large contract wins in the division have generated a substantial order backlog, providing excellent visibility for a successful year ahead. mottech ·    following a slightly slower 2024, mottech sales have risen by 8%, supported by key contract wins in israel and the usa. the italian contract, announced in may 2025, involving large-scale agricultural irrigation, and initially valued at €1 million, is expected to contribute strongly in the second half of the year. overall, mottech is well positioned to deliver a good performance this year. mti summit ·    mti summit sales decreased 3%, due to a change in one of the service agreements relating to tethered balloons, which did not impact the agreement's profitability. the core business of providing comprehensive radio frequency and microwave solutions grew 12% in the period and continues to generate a substantial order backlog. the division has a healthy pipeline of new design tenders, which bodes well for future prospects. additionally, psk, the defence company in which the company recently increased its stake to 60%, completed a successful second quarter, secured several new contracts, and has positioned itself to contribute positively moving forward.   moni borovitz, chief executive officer of mti wireless edge, said:   "mti is in a strong position, with all three divisions performing well, underpinned by sustained demand for our radio frequency solutions across our core markets of water, defence, and 5g. these sectors continue to grow, and our technologies are well aligned to capitalise on this momentum. defence, in particular, has delivered a marked increase in both sales and order intake - a trend we expect to continue into the medium term as our offering and technologies are expanding.   while the ongoing conflict involving israel is deeply concerning, its direct impact on our operations has been limited. financially, the group remains robust, with a cash balance exceeding $5 million and significantly improved operational cash generation during the period, being similar to the ebit in the period.   with a strong order backlog, diversified growth drivers in 5g, defence, and smart irrigation, and a robust balance sheet, mti has delivered strong trading performance in the half year, and with good visibility over its forward order book and pipeline of opportunities, the company is confident of the outlook for the full year."     for further information please contact:   mti wireless edge ltd +972 3 900 8900 moni borovitz, ceo http://www.mtiwirelessedge.com   allenby capital limited (nomad and joint broker) +44 20 3328 5656 nick naylor/alex brearley/piers shimwell (corporate finance)  guy mcdougall/amrit nahal (sales and corporate broking)    shore capital (joint broker) toby gibbs/george payne (corporate advisory) fiona conroy (corporate broking) +44 20 7408 4090   novella (financial pr)  tim robertson/safia colebrook +44 20 3151 7008       chief executive's statement   the first half of 2025 has been a good trading period for the business. all three divisions are performing well with the defence sector strongest of all. in the last two years, the group experienced a marked increase in defence related enquiries which have since translated into firm orders being delivered across this year and into 2026. globally, governments are locking-in increases to defence budgets over the medium term which indicates a sustained increase in defence related sales for the group.   while the group is clearly benefiting from the uplift in defence demand, the company remains focused on its long-standing strategy of maintaining a diversified business across three divisions, each focused on distinct sectors, which has been the foundation of the group's consistent performance and resilience to date.   antenna division   this division is a one stop shop for the sale of 'off the shelf' flat and parabolic antennas, combined with the provision of custom-developed antenna solutions to a range of commercial and military customers, with a growing focus on providing 5g backhaul antenna solutions to support mobile phone operators as they roll-out their 5g networks.   the antenna division experienced a positive uplift driven by sales increasing over 40% for both the group's 5g backhaul antenna solution and for military antennas. this growth was supported by increased global defence spending, as governments reallocate budgets towards next-generation military hardware in response to rising geopolitical tensions. antennas are often a crucial part of next generation warfare and this structural shift is therefore expected to be beneficial over the long-term. this, together with the company developing more advanced solutions and technologies, helped with securing a healthy backlog of orders for military antennas and good visibility over further potential orders.   demand for the 5g backhaul antenna solution has been high, primarily from leading cellular operators in india. 5g sales have slowed slightly going into q3 after a very strong h1. however, the fundamental prospects remain very positive. all cellular operators in india are committed to establishing 5g networks and therefore all need a backhaul solution. mti is a well-established supplier in india with a proven solution, making continued overall growth in this market a reasonable expectation.   the abs antenna solution, which ensures the antenna adapts to any small movements caused by different climate conditions, is developing well, having been tested thoroughly and successfully by multiple tier 1 and tier 2 customers. as a result, abs has now moved into production with mti working on it with nearly all major tier 1 corporations. as a new technology addressing a real operational challenge, abs has also served as a strong entry point for mti with new prospective clients, many of whom may also require the group's 5g backhaul solution.   water control & management division   this division provides wireless control systems to manage irrigation and water distribution for agriculture, municipal authorities and commercial entities. it operates under the mottech brand and utilises part of the hardware technology from motorola, integrated with the company's own proprietary hardware and management software. our solutions reduce water and power usage, whilst providing higher revenue from accurate irrigation, leading to an increased number and improved quality of crops cultivated. it has been an active six months for mottech, with a number of new projects which are expected to support the long-term future of the division. good performances in israel and the us helped revenues increase by 8%.   mottech's fountain control management solution, launched in 2024, continues to develop well and is in the process of agreeing a contract with a third municipality with further prospects in the pipeline. this will of course add to the recurring revenue from services in the future.   in may 2025, mottech announced the commencement of a new large scale agricultural irrigation project in italy with an existing client. initially valued at €1million, if successful, it is expected to deliver significant further income. the arabian gulf is also developing as a market with good prospects in the agricultural sector.   mottech launched its elite pro, a smart irrigation controller, designed to deliver exceptional results for farms, landscapes, sports fields, and other irrigation-intensive applications. customer response has been positive and this is leading to new commercial opportunities.   distribution & professional consulting services division   operating under the mti summit electronics brand, this division exclusively represents approximately 40 international suppliers of radio frequency/microwave components and sells these products to israeli customers. expert knowledge of both the international suppliers and customers further enables mti to act as a consultant to all parties and assist with devising complete radio frequency/microwave solutions. mti summit delivered a positive performance in the first half of the year. the strategic agreement established in 2021 with a major defence company, designed to streamline component orders under a pre-agreed pricing structure, has been extended to mid-2026. this agreement has proven effective, with the customer typically placing orders exceeding $4 million annually. good progress continues to be made in the sale of testing and measurement equipment. importantly, psk which encountered a challenging trading period in 2024, has shown its underlying potential with a series of important new contract wins. mti recently increased its ownership in psk to 60%, with psk having completed a successful six months, increasing its orderbook significantly.  in the second quarter of the year psk returned to operational profit and is positioned to contribute positively going forward. looking ahead, mti summit is well positioned to capitalize on a growing number of design solution requests, which are expected to further strengthen an already robust order pipeline.   outlook   trading to date in q3 has been positive building on the strong first half performance. the orderbooks across the group show an encouraging backlog of orders, which together with upcoming tenders mean the company is well placed for the year.     about mti wireless edge ltd. ("mti") headquartered in israel, mti is a technology group focused on comprehensive communication and radio frequency solutions across multiple sectors through three core divisions:   antenna division   mti is a world leader in the design, development and production of high quality, state-of-the-art, and cost-effective antenna solutions including smart antennas, mimo antennas and dual polarity antennas for wireless applications. mti supplies antennas for both military and commercial markets from 100 khz to 174 ghz.   internationally recognized as a producer of commercial off-the-shelf and custom-developed antenna solutions in a broad frequency range, mti addresses both commercial and military applications. mti supplies directional and omnidirectional antennas for outdoor and indoor deployments, including smart antennas for 5g backhaul, broadband access, public safety, rfid, base station and terminals for the utility market.   military applications include a wide range of broadband, tactical and specialized communication antennas, antenna systems and df arrays installed on numerous airborne, ground and naval, including submarine, platforms worldwide.   water control & management division   via its subsidiary, mottech water solutions ltd ("mottech"), mti provides high-end remote control and monitoring solutions for water and irrigation applications based on motorola's irrinet state-of-the-art control, monitoring and communication technologies. as motorola's global prime-distributor mottech serves its customers worldwide through its international subsidiaries and a global network of local distributors and representatives. with over 25 years of experience in providing customers with irrigation remote control and management, mottech's solutions ensure constant, reliable and accurate water usage, increase crops quality and yield while reducing operational and maintenance costs providing fast roi while helping sustain the environment. mottech's activities are focused in the market segments of agriculture, water distribution, municipal and commercial landscape as well as wastewater and storm-water reuse.   distribution & professional consulting services division   via its subsidiary, mti summit electronics ltd., mti offers consulting, representation and marketing services to foreign companies in the field of rf and microwave solutions and applications including engineering services (including design and integration) in the field of aerostat systems and the ongoing operation of platform subsystems, sigint, radar, communication and observation systems which is performed by the company. it also specializes in the development, manufacture and integration of communication systems and advanced monitoring and control systems for the government and defence industry market.       mti wireless edge ltd.  (an israeli corporation)   interim consolidated statements of comprehensive income     six month period ended  june 30,   year ended december 31,   2025   2024   2024   u.s. $ in thousands               (except per share data)   unaudited          revenues 24,138  22,327  45,573 cost of sales 16,299  15,405  31,370       gross profit 7,839  6,922  14,203 research and development expenses 540  440  1,016 distribution expenses 1,772  1,746  3,413 general and administrative expenses 3,040  2,547  5,321 loss (profit) from sale of property, plant and equipment -  (56)  59       profit from operations 2,487  2,245  4,512 finance expenses 282  137   282 finance income (63)  (195)  (582)       profit before income tax 2,268  2,303  4,812 tax expenses 295  444  619       profit 1,973  1,859  4,193 other comprehensive income (loss) net of tax:      items that will not be reclassified to profit or loss:      re-measurement of defined benefit plans -  -  16       items that may be reclassified to profit or loss:      adjustment arising from translation of financial statements of foreign operations 10  (139)  (149)       total other comprehensive income (loss) 10  (139)  (133)        total comprehensive income 1,983  1,720  4,060       profit (loss) attributable to:      owners of the parent 2,159  1,880   4,364 non-controlling interests (186)  (21)  (171)          1,973  1,859  4,193 total comprehensive income (loss) attributable to:      owners of the parent 2,169  1,741  4,231 non-controlling interests (186)  (21)  (171)   1,983  1,720  4,060       earnings per share (dollars)      basic (dollars per share) 0.0250  0.0214  0.0499       diluted (dollars per share) 0.0249  0.0214  0.0499 weighted average number of shares outstanding      basic 86,195,724  87,787,614   87,371,990 diluted 86,608,765  87,812,145   87,460,876         the accompanying notes form an integral part of the financial statements.  mti wireless edge ltd.  (an israeli corporation)   interim consolidated statements of changes in equity   for the six month period ended june 30, 2025 (unaudited):     attributable to owners of the parent     share capital additional paid-in capital translation differences retained earnings total attributable to owners of the parent non-controlling interest total equity   u.s. $ in thousands                   balance at january 1, 2025 209 22,002 (615) 6,861 28,457 1,051 29,508                 changes during the six month period     ended june 30, 2025:        comprehensive income         profit (loss) for the period - - - 2,159 2,159 (186) 1,973 other comprehensive income               translation differences - - 10 - 10 - 10                 total comprehensive income (loss) for the period - - 10 2,159 2,169 (186) 1,983 share based payment - 54 - - 54 - 54 dividend - - - (2,922) (2,922) - (2,922)                 balance at june 30, 2025 209 22,056 (605) 6,098 27,758 865 28,623                   the accompanying notes form an integral part of the financial statements.      mti wireless edge ltd.  (an israeli corporation)   interim consolidated statements of changes in equity (cont.)   for the six month period ended june 30, 2024 (unaudited):     attributable to owners of the parent     share capital additional paid-in capital translation differences retained earnings total attributable to owners of the  parent non-controlling interest total equity   u.s. $ in thousands                   balance at january 1, 2024 209 23,061 (466) 5,226 28,030 1,222 29,252                 changes during the six month period     ended june 30, 2024:        comprehensive income         profit (loss) for the period - - - 1,880 1,880 (21) 1,859 other comprehensive loss               translation differences - - (139) - (139) - (139)                 total comprehensive income (loss) for the period - - (139) 1,880 1,741 (21) 1,720 acquisition and disposal of treasury shares - (551) - - (551) - (551) dividend - - - (2,745) (2,745) - (2,745)                 balance at june 30, 2024 209 22,510 (605) 4,361 26,475 1,201 27,676                   the accompanying notes form an integral part of the financial statements.      mti wireless edge ltd.  (an israeli corporation)   interim consolidated statements of changes in equity (cont.) for the year ended december 31, 2024 :   attributable to owners of the parent     share capital additional paid-in capital translation differences retained earnings total attributable to owners of the parent non-controlling interests total equity   u.s. $ in thousands                 balance as at january 1, 2024 209 23,061 (466) 5,226 28,030 1,222 29,252                 changes during 2024:                                comprehensive income               profit (loss) for the year - - - 4,364 4,364 (171) 4,193 other comprehensive income (loss)               re measurements on defined benefit plans - - - 16 16 - 16 translation differences - - (149) - (149) - (149)                 total comprehensive income (loss) for the year - - (149) 4,380 4,231 (171) 4,060 dividend - - - (2,745) (2,745) - (2,745) share based payment - 106 - - 106 - 106 acquisition and disposal, net of treasury shares - (1,165) - - (1,165) - (1,165)                 balance as at december 31, 2024 209 22,002 (615) 6,861 28,457 1,051 29,508             the accompanying notes form an integral part of the financial statements.  mti wireless edge ltd.  (an israeli corporation) interim consolidated statements of financial position     30.06.2025   30.06.2024   31.12.2024   u.s. $ in thousands   unaudited     assets      current assets:      cash and cash equivalents 5,501  6,006  6,269  trade and other receivables 14,017  13,461  16,726 unbilled revenue 5,003  4,529  3,200 current tax receivables 402  109  297 inventories 9,119  8,186  8,168        34,042 32,291   34,660             non-current assets:      long term prepaid expenses 35  29  34 property, plant and equipment 5,504  5,357  5,584 deferred tax assets 1,331  864  1,187 intangible assets 3,375 3,427  3,348         10,245 9,677   10,153                      total assets 44,287 41,968  44,813         the accompanying notes form an integral part of the financial statements.   mti wireless edge ltd.  (an israeli corporation)   interim consolidated statements of financial position     30.06.2025   30.06.2024   31.12.2024   u.s. $ in thousands   unaudited     liabilities and equity      current liabilities:      current maturities and short term bank credit and loans 317  447  274 trade payables 7,663  7,454  8,433 other accounts payable 4,894  3,551  4,098 current tax payables 438  417  255         13,312  11,869  13,060       non- current liabilities:      contingent consideration and put option liability 837  1,117  837 lease liabilities 580  498  601 loans from banks, net of current maturities 110  54  37 employee benefits, net 825  754  770         2,352  2,423  2,245       total liabilities 15,664  14,292  15,305       equity      equity attributable to owners of the parent           share capital 209  209  209 additional paid-in capital 22,056  22,510  22,002 translation differences (605)  (605)  (615) retained earnings 6,098  4,361  6,861         27,758  26,475  28,457       non-controlling interests 865  1,201  1,051       total equity 28,623  27,676  29,508       total equity and liabilities 44,287  41,968  44,813         august 24, 2025       date of approval of financial statements moshe borovitz chief executive officer elhanan zeira controller luke ahern non-executive chair of the meeting   the accompanying notes form an integral part of the financial statements.     mti wireless edge ltd.  (an israeli corporation) interim consolidated statements of cash flows     six month period ended  june 30,   year ended december 31,     2025   2024   2024     u.s. $ in thousands     unaudited     cash flows from operating activities:       profit for the period  1,973  1,859  4,193 adjustments for:       depreciation and amortization  563  1,046  1,370 equity settled share-based payment expense  54  53  106 loss (gain) from sale of property, plant and equipment  134  (56)  (26) finance (income) expenses, net  53  (312)  (180) changes in contingent consideration and put option liability  -  -  (280) tax expenses   295  444  619 changes in operating assets and liabilities:       decrease (increase) in inventories  (820)  (751)  (749) decrease (increase) in trade receivables  1,758  963  (2,171) decrease (increase) in other accounts receivables  905  (257)  (319) decrease (increase) in unbilled revenues  (1,803)  (339)  990 increase (decrease) in trade and other accounts payables  (258)  (1,256)  192 increase (decrease) in employee benefits, net   55   35   67        cash from operations   2,909  1,429  3,812                interest received   19   69   109 interest paid   (54)   (39)   (79) income tax   (341)   65   (780)        net cash provided by operating activities  2,533  1,524  3,062          the accompanying notes form an integral part of the financial statements.   mti wireless edge ltd.  (an israeli corporation)   interim consolidated statements of cash flows (cont.)       six month period ended  june 30,   year ended december 31,       2025   2024   2024       u.s. $ in thousands       unaudited       cash flows from investing activities:         proceeds from sale of property, plant and equipment  -  56  56   purchase of property, plant and equipment   (369)   (370)   (891)                   net cash used in investing activities   (369)   (314)   (835)                                   cash flows from financing activities:         dividend paid  (2,922)  (2,745)  (2,745)   payments of lease liabilities  (176)  (485)  (364)   treasury shares acquired  -  (551)  (1,165)   receipt of short term loans from banks, net  122  168  14   repayment of long-term loans from banks   (8)   (9)   (101)                   net cash provided by /(used in) financing activities   (2,984)   (3,622)   (4,361)                                   (decrease)/increase in cash and cash equivalents during the period    (820)  (2,412)  (2,134)   cash and cash equivalents  at the beginning of the period   6,269   8,454   8,454   exchange differences on balances of cash and cash equivalents   52   (36)   (51)                 cash and cash equivalents  at the end of the period   5,501   6,006   6,269                                     the accompanying notes form an integral part of the financial statements.       mti wireless edge ltd. (an israeli corporation) notes to interim consolidated financial statements   note 1 - general: corporate information: m.t.i wireless edge ltd. (hereafter - the "company", or collectively with its subsidiaries, the "group") is an israeli corporation. the company was incorporated under the companies act in israel on december 30, 1998 and commenced operations on july 1, 2000. since march 2006, the company's shares have been traded on the aim market of the london stock exchange. the formal address of the company is 11 hamelacha street, afek industrial park, rosh-ha'ayin, israel. the company and its subsidiaries are engaged in the following areas: -     development, design, manufacture and marketing of antennas for the military and civilian sectors. -     a leading provider of remote control solutions for water and irrigation applications based on motorola's irrinet state of the art control, monitoring and communication technologies. -     providing consulting, representation and marketing services to foreign companies in the field of rf (radio frequency) and microwave, including engineering services in the field of aerostat systems and system engineering services. -     development, manufacture and integration of communication systems and advanced monitoring and control systems for the government and defence industry market.   note 2 - significant accounting policies: the interim consolidated financial statements have been prepared in accordance with generally accepted accounting principles for the preparation of financial statements for interim periods, as prescribed in international accounting standard no. 34 ("interim financial reporting"). the interim consolidated financial statements as of june 30, 2025 have not been audited. the interim consolidated financial information should be read in conjunction with the annual financial statements as of december 31, 2024 and for the year then ended and with the notes thereto. the significant accounting policies applied in the annual financial statements of the company as of december 31, 2024 are applied consistently in these interim consolidated financial statements.   note 3 - revenues:    six month period ended      june 30,   year ended december 31,     2025   2024   2024    u.s. $ in thousands    unaudited     revenues arise from:            sale of goods*  17,189   16,183   32,827 rendering of services**  3,120   3,854   8,075 projects**  3,829  2,290  4,671   24,138   22,327   45,573               (*) at the point in time (**) over time   note 4 - operating segments: the following tables present revenue and profit information regarding the group's operating segments for the six month period ended june 30, 2025 and 2024 respectively and for the year ended december 31, 2024. six month period ended june 30, 2025 (unaudited):  antennas water solutions distribution & consultation services adjustment & elimination total   u.s. $ in thousands revenues      external 8,239 8,311 7,588 - 24,138 internal 29 - 285 (314) -             total 8,268 8,311 7,873 (314) 24,138                         segment profit 696 814 708 269 2,487             finance expense (income), net     219 tax expenses     295             profit         1,973               june 30, 2025:   antennas water solutions distribution & consultation services adjustment & elimination total  u.s. $ in thousands             segment assets 16,220 12,454 13,363 - 42,037             unallocated assets         2,250             segment liabilities 5,145 3,944 5,619 - 14,708             unallocated liabilities         956   note 4 - operating segments (cont.):   six month period ended june 30, 2024 (unaudited):   antennas water solutions distribution & consultation services adjustment & elimination total   u.s. $ in thousands revenues      external 6,734 7,713 7,880 - 22,327 internal - - 261 (261) -             total 6,734 7,675 8,141 (261) 22,327                         segment profit 325 1,266 374 280 2,245             finance expense (income), net     (58) tax expenses     444             profit         1,859               june 30, 2024:   antennas water solutions distribution & consultation services adjustment & elimination total  u.s. $ in thousands             segment assets 16,028 11,966 11,634 - 39,628             unallocated assets         2,340             segment liabilities 4,676 4,086 4,855 - 13,617             unallocated liabilities         675   year ended december 31, 2024  antennas water solutions distribution & consultation eliminations total   u.s. $ in thousands revenues           external 14,136 16,888 14,549 - 45,573 inter-segment - - 296 (296) -             total 14,136 16,888 14,845 (296) 45,573                         segment profit 1,311 2,307 471 423 4,512             finance income, net     300 profit before tax     4,812 tax expenses     619            profit         4,193   note 4 - operating segments (cont.):   december 31, 2024:   antennas water solutions distribution & consultation eliminations total  u.s. $ in thousands             segment assets 17,404 13,406 11,672 - 42,482             unallocated assets         2,295             segment liabilities 5,363 4,618 4,394 - 14,375             unallocated liabilities         894   note 5 - significant events: a.  the board of directors declared a cash dividend of 3.3 us cents per share being approximately $2,922,000. this dividend was paid on 11 april 2025 to shareholders on the register at the close of trading on 28 march 2025. b.   the financial statements for the year ended 31 december 2024 were authorized for issue by the board as a whole following their approval on 16 march 2025. c.   on 24 january 2019, the company announced a share repurchase program to conduct market purchases of ordinary shares of par value 0.01 israeli shekels each ("ordinary shares") in the company up to a maximum value of £150,000 (the "programme"). thereafter, the board of directors of the company and the board of directors of mti engineering have decided to continue with the programme for several further periods and to increase the maximum value of the programme up to £1,000,000, plus any additional funds received from dividends or profits from selling the shares, although the current intention is to hold the ordinary shares purchased for a longer period of time. the programme is currently in place until the end of march 2026 and as at 30 june 2025, 2,343,000 ordinary shares were held in treasury under the programme. d.  on 7 october 2023 israel was attacked by the hamas terror organization leading to war in the gaza region. the war has led to a slowdown in the israeli economy and if this war continues for a prolonged period, then it may begin to impact the company. the wide usage of military reserve personnel, adverse foreign currency exchange rates and restrictions on access to certain areas in israel are risks which may affect the company if there is a prolonged period of war. as of the date of this report, and to the best of the company's knowledge, the war has not had a significant effect on the company. the company continues to review the effects of the war on its trading as it believes that if the war continues for a long period of time then the overall israeli economy will be effected, and factors including the lack of available manpower, interest rates and foreign currency exchange rates may have an impact on its trading. e.   on 6 may 2025, mti announced that its subsidiary mti summit had increased its ownership of its subsidiary p.s.k wind technologies ltd. ("psk") via a new equity investment (by issuance of shares in psk) of nis 600,000 (approximately us$170,000) (the "investment"). following the investment, the group owns 60% of psk. previously, on 4 january 2022, mti announced that mti summit had acquired 51% of psk (the "acquisition"). in addition to the acquisition, an earn out mechanism was in place under which further consideration could potentially be payable to the vendors of psk (the "earn out") and that mti summit has an option to purchase and the vendors of psk have an option to sell to mti summit the remaining 49% of psk (the "option") starting from 2027. the earn out has now lapsed and no further consideration is payable to the vendors of psk. following the investment, the option has been modified to reflect that the vendors' holding in psk is now 40%. the remaining terms of the option remain as set out in mti's announcement of 4 january 2022. f.   on 20 june 2025 mr. zvi borovitz, the company's founder and chairman of the board, passed. this information is provided by rns, the news service of the london stock exchange. rns is approved by the financial conduct authority to act as a primary information provider in the united kingdom. terms and conditions relating to the use and distribution of this information may apply. for further information, please contact rns@lseg.com or visit www.rns.com.  rns may use your ip address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. for further information about how rns and the london stock exchange use the personal data you provide us, please see our privacy policy.   end   ir pkqbbkbkbdfb return to news summary

Label: Neutral