Ilika plc Trading Update & Notice of Results (0163L)
May 11 2022 - 1:01AM
UK Regulatory
TIDMIKA
RNS Number : 0163L
Ilika plc
11 May 2022
Ilika plc
("Ilika" or the "Company")
Trading Update & Notice of Results
Analyst and Investor presentations
Ilika (AIM: IKA), a pioneer in solid-state battery technology,
provides updates on trading, Stereax(R) manufacturing, and Goliath
product development, as well as notice of its full year results for
the year ended 30 April 2022.
Trading Update for FY22
Trading for the year ended 30 April 2022 has been in line with
management expectations. The Company expects to announce revenues
of approximately GBP0.5m (2021: GBP2.3m), and an EBITDA loss of
around GBP7.0m (2021: EBITDA loss of GBP2.3m). Cash and cash
equivalents at the period end were GBP23.4m (30 April 2021:
GBP9.7m).
Stereax Manufacturing Update and Trading Update for FY23
Further to the official opening in December 2021 of its
manufacturing facility for Stereax miniature solid-state batteries
for industrial wireless sensors and medical implants, Ilika has
been progressing facility process qualification to the point where
it is now substantially complete. As indicated in the Company's
Interim Results on 20 January 2022, product qualification has
commenced, which involves production of initial batches of
batteries and testing them against specification. Whilst a series
of process optimisation cycles have been carried out to date, it is
taking longer than previously anticipated to ensure that product
batches reproducibly meet specification.
In terms of an update on Ilika's pipeline, the demand from
potential customers is now weighted predominantly towards miniature
medical device applications. The demand for such applications
starts with device prototyping, followed by pre-clinical and
clinical trials before regulatory approval and mass market
roll-out, which has a longer regulatory approval cycle than
industrial sensors. Ilika will match production volumes to customer
demand.
The shift in the weighting of customer demand towards medical
device applications combined with the expectation of optimisation
cycles continuing into H2 FY23, means the Company now expects
commercial sales to commence at the end of that period, later than
originally anticipated. A number of the potential applications for
Stereax exceed the capacity of Ilika's facility, which provides
longer term opportunities for partnering and licensing.
Goliath Progress Update
Product development of Goliath, Ilika's large format battery for
electric vehicles and customer appliances, has continued to
progress to schedule, with significant improvements achieved in
energy density (providing the potential for lighter weight battery
packs) and power density (key for rapid charging). Ilika continues
to explore opportunities for closer collaboration with strategic
partners interested in aligning their product roadmaps with
Goliath.
Notice of Results
Ilika expects to announce its full year results for the year
ended 30 April 2022 on Wednesday 13 July 2022.
Analyst Briefing
The management team will be hosting an in-person analyst
briefing on the day, Wednesday 13 July 2022, at 9.30am. Analysts
who wish to attend should contact Lianne Applegarth at Walbrook PR
on +44(0)20 7933 8780 or email ilika@walbrookpr.com to
register.
Investor Presentation
An investor presentation will be held on the day, Wednesday 13
July 2022, at 4.30pm and will be hosted through the digital
platform, Investor Meet Company. Investors can sign up to Investor
Meet Company for free and add to meet Ilika plc via the following
link:
https://www.investormeetcompany.com/ilika-plc/register-investor or
for more information please contact Walbrook PR at
ilika@walbrookpr.com .
For more information contact:
Ilika plc +44 (0)23 8011 1400
Graeme Purdy, Chief Executive
Steve Boydell, Finance Director
Liberum Capital Limited +44 (0) 20 3100 2000
Andrew Godber, Cameron Duncan,
William Hall, Nikhil Varghese
Berenberg (Joint Broker) +44 (0) 20 3207 8700
Emily Morris, Detlir Elezi,
Milo Bonser, Mara Grasso
Walbrook PR Ltd +44 (0)20 7933 8780 or ilika@walbrookpr.com
Lianne Applegarth Mob: +44 (0)7584 391 303
Nick Rome Mob: +44 (0)7748 325 236
Tom Cooper Mob: +44 (0)7971 221 972
Note:
The information contained within this announcement is deemed by
the Company to constitute inside information for the purposes of
Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations
2019/310. Upon the publication of this announcement via a
Regulatory Information Service ("RIS"), this inside information is
now considered to be in the public domain.
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END
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