REG - Ilika plc - Trading Update & Notice of Results

IlikaAnnouncement

11/05/2022 07:00

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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® 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 £0.5m (2021: £2.3m), and an EBITDA loss of around
£7.0m (2021: EBITDA loss of £2.3m). Cash and cash equivalents at the
period end were £23.4m (30 April 2021: £9.7m).

 

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 (mailto: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
(https://urldefense.proofpoint.com/v2/url?u=https-3A__www.investormeetcompany.com_ilika-2Dplc_register-2Dinvestor&d=DwMFAg&c=euGZstcaTDllvimEN8b7jXrwqOf-v5A_CdpgnVfiiMM&r=1OI9eWQUVfVpxZXWzxX2tPcSAmxw5YMa3-DImHWnbkA&m=22nIVAzynQ78VnYQ8pNvYLoiaC3r3JGnA0Gjs0X1HfI&s=GFcaJdt_WBmGcV6u2cZxJzgNoqqkh-ky8V45ELknGH8&e=)
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 (mailto: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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