Ilika (IKA)

Sector:

Electronic and Electrical Equipment

Index:

FTSE AIM All-Share

27.00p
   
  • Change Today:
    -0.80p
  • 52 Week High: 48.94
  • 52 Week Low: 24.50
  • Currency: UK Pounds
  • Shares Issued: 167.30m
  • Volume: 85,855
  • Market Cap: £45.17m

Ilika losses narrow in year of progress

By Josh White

Date: Thursday 16 May 2024

LONDON (ShareCast) - (Sharecast News) - Solid-state battery technology developer Ilika reported full-year growth in a trading update on Thursday, alongside significant advancements in its 'Stereax' manufacturing and 'Goliath' product development.
The AIM-traded firm said that for the year ended 30 April, its unaudited revenue reached around £2.1m, up from £0.7m in the 2023 financial year.

It recorded an EBITDA loss, excluding share-based payments, of around £4.5m, narrowing from £7m a year earlier.

As of 30 April, Ilika held £11.9m in cash and cash equivalents, compared to £15.8m at the end of April 2023.

On the operational front, Ilika said it had made substantial progress in transferring the manufacturing of its thin-film Stereax miniature solid-state batteries (SSBs) to Cirtec Medical.

The batteries are designed for use in medical devices and industrial wireless sensors in specialised environments.

Additionally, Ilika said it achieved significant milestones in the development of its large-format Goliath cells, intended for electric vehicles (EVs) and cordless appliances.

The company recently announced a partnership with Agratas, a Tata Group global battery business, as part of its 'SiSTEM; grant-funded scale-up activities.

In collaboration with Agratas, Ilika had entered into a 12-month agreement to facilitate interactions supporting the company's development milestone of D8 - 50Ah, chemistry frozen - by the first half of 2025.

That milestone would be crucial for licensing opportunities and exploring broader collaboration possibilities.

On 10 May, Ilika announced a capital raising through a conditional placing of new shares, raising gross proceeds of £1.7m.

An open offer for new shares aimed to raise an additional £1.7m, providing further support for the development of its Goliath solid-state battery, the board explained.

Ilika said it expected to announce its audited full-year results for the 12 months ended 30 April on 11 July.

At 1626 BST, Ilika shares were down 2.63% at 27.75p.

Reporting by Josh White for Sharecast.com.

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Ilika Market Data

Currency UK Pounds
Share Price 27.00p
Change Today -0.80p
% Change -2.88 %
52 Week High 48.94
52 Week Low 24.50
Volume 85,855
Shares Issued 167.30m
Market Cap £45.17m

Ilika Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
34.91% below the market average34.91% below the market average34.91% below the market average34.91% below the market average34.91% below the market average
66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average
Price Trend
72.08% below the market average72.08% below the market average72.08% below the market average72.08% below the market average72.08% below the market average
68.42% below the sector average68.42% below the sector average68.42% below the sector average68.42% below the sector average68.42% below the sector average
Income Not Available
Growth
60.09% above the market average60.09% above the market average60.09% above the market average60.09% above the market average60.09% above the market average
69.70% above the sector average69.70% above the sector average69.70% above the sector average69.70% above the sector average69.70% above the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 2
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Ilika Dividends

No dividends found

Trades for 19-Jul-2024

Time Volume / Share Price
13:01 351 @ 26.90p
10:40 50,000 @ 27.00p
11:31 45 @ 26.40p
11:25 3,827 @ 26.40p
11:01 3 @ 26.00p

Ilika Key Personnel

CEO Graeme Purdy
Chair Keith Jackson

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