REG - EnSilica PLC - Trading Update

EnSilicaAnnouncement

27/04/2023 07:00

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RNS Number : 6198X  EnSilica PLC  27 April 2023

Prior to publication, the information contained within this announcement was
deemed by the Group to constitute inside information for the purposes of
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With the publication of this announcement, this information is now considered
to be in the public domain.

 

27 April 2023

 

EnSilica plc

("EnSilica", the "Company", or the "Group")

 

Trading Update

 

EnSilica (AIM: ENSI), a leading mixed signal chip maker, announces a trading
update for the financial year ending 31 May 2023 ("FY23").

 

The Group has continued to trade strongly across the second half of FY23,
delivering excellent new contract momentum, alongside completing a number of
pre-existing projects in the period. As a result, the Board of Ensilica now
expects the results for FY23 to significantly exceed current market
expectations(1) for EBITDA by approximately 30%, with revenue expected to
remain in line with market expectations(1).

 

This strong performance is primarily a result of improved margin, underpinned
by a combination of effective deployment of EnSilica's highly skilled
engineering resource and leveraging the Group's established IP chip library to
support existing design projects.

 

Key projects and contracts in the period include:

 

·    a mixed signal automotive ASIC brought to commercial production
following the launch of a new flagship vehicle by a premium automotive
company;

 

·    a significant 7-year industrial ASIC supply project secured, worth in
excess of US$30 million;

 

·    two new contracts commenced with existing European customers,
including a major automotive Tier 1 company, with a combined value of US$3.6
million;

 

·    a €5 million contract win for the development of a satellite user
terminal broadband chip;

 

·    a $1.3 million ASIC contract extension and estimated royalty payment
increase from $5 million to $15 million over a five-year period; and

.

·    a contract secured with an existing Europe-based customer for
approximately $2.4 million.

 

Looking ahead, the Board believes that the Group is well placed to continue to
capitalise on the significant growth opportunity that exists within the
semiconductor industry.

 

(1)Analyst consensus forecast for the year ending 31 May 2023 prior to release
of this announcement were revenues of £19.8 million and EBITDA of £1.18
million.

 

For further information please contact:

 

 EnSilica plc                                                      Via Vigo Consulting

 Ian Lankshear, Chief Executive Officer                            +44 (0)20 7390 0233

 www.ensilica.com (http://www.ensilica.com/)

 Allenby Capital Limited, Nominated Adviser & Broker               +44 (0)20 3328 5656

 Jeremy Porter / Vivek Bhardwaj (Corporate Finance)                info@allenbycapital.com

 Joscelin Pinnington/Tony Quirke (Sales & Corporate Broking)

 Vigo Consulting (Investor & Financial Public Relations)           +44 (0)20 7390 0233 ensilica@vigoconsulting.com

                                                                 (mailto:visum@vigoconsulting.com)
 Jeremy Garcia / Kate Kilgallen

 

 

About EnSilica

 

EnSilica is a leading fabless design house focused on custom ASIC design and
supply for OEMs and system houses, as well as IC design services for companies
with their own design teams. The Company has world-class expertise in
supplying custom RF, mmWave, mixed signal and digital ICs to its international
customers in the automotive, industrial, healthcare and communications
markets. The Company also offers a broad portfolio of core IP covering
cryptography, radar, and communications systems. EnSilica has a track record
in delivering high quality solutions to demanding industry standards. The
Company is headquartered near Oxford, UK and has design centres across the UK
and in India and Brazil.

 

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