Business
Trading Update
Trading Update.
About this update from Ilika Plc
[{"type":"text","content":"\n \nRNS Number : 0286X Ilika plc 21 November 2017 \n\n \nIlika plc\n(\"Ilika\" and the \"Company\")\n \nTrading Update\n \nIlika (AIM: IKA), a pioneer in materials innovation and solid-state battery technology, provides a trading update for the six months ended 31 October 2017.\n \nFinancial Highlights\nThe financial results are expected to show a three-fold increase in total revenue for the period of £1.0m relative to the same period last year (H1 2016: £0.3m). Importantly, the high margin nature of the additional £0.7m of revenue has resulted in the operating loss reducing significantly, and the Company expects to announce an operating loss for the period, excluding share based payment charge, of approximately £1.4m (H1 2016: £1.9m). Cash and cash equivalents at the period end were £3.9m (H1 2016: £7.1m) with further receipts of £0.5m banked post period end. \n \nOperational Highlights\nThe Company has continued to pursue the development and commercialisation of its proprietary StereaxÒ solid-state battery technology, which is a product-line originated through its globally-recognised expertise in the accelerated development of innovative materials for blue-chip OEM's in high value sectors with large addressable markets.\n \nSince the launch of Ilika's StereaxÒ P180 battery in April 2017, Ilika has been growing its portfolio of interactions with partners targeting industrial deployments of wireless sensors, also referred to as IoT end-nodes. A recent example of this is the post-period end announcement of a deployment of StereaxÒ for the condition monitoring of turbine blades, with China's largest manufacturer of wind turbines. Industrial IoT opportunities account for about 40% of the interest in StereaxÒ, which reflects the global growth of this sector. In China, the industrial IoT market is growing faster than consumer IoT. Some of the unique benefits of solid-state batteries make them particularly suited for industrial IoT environments; namely low leakage currents, ability to handle hostile environments and a long cycle life.\n \nCurrently around 50% of the StereaxÒ partnering discussions are with medical device companies interested in miniaturised medical implants with wireless communication functionality. In these applications the long life cycle is important, but also the poss...