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Ilika PLC - Romsey, England-based solid-state battery technology - Expects its loss in earnings before interest, tax, depreciation and amortisation to widen. For its financial year ended April 30, Ebitda loss is expected to widen to £7.0 million from £2.3 million a year ago. Ilika forecasts annual revenue falling to around £500,000 from £2.3m a year ago. Trading has been in line with management expectations, the company adds.
‘It is taking longer than previously anticipated to ensure that product batches reproducibly meet specification,’ the firm explains. Citing the second half of its financial year 2023, ‘the company now expects commercial sales to commence at the end of that period, later than originally anticipated,’ Ilika continues.
Current stock price: 66.48 pence, down 30% on Wednesday
12-month change: down 66%
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