Ilika (IKA) AGM 2024 summary

Opening remarks and agenda

• Investor presentation reviewed progress across Stereax miniature batteries for medical and industrial IoT uses, Goliath cells for automotive and consumer appliances, then took stakeholder questions.

• Business model centers on developing products and manufacturing processes, then licensing know-how to manufacturing partners for fees and royalties.

Financial performance review

• FY ended April 30, 2024 turnover was £2.1m vs £700k; total income was £2.6m vs £800k, supported mainly by grant funding and R&D claim income.

• EBITDA loss excluding share-based payments narrowed to £4.1m from £7m, aided by higher income, cost control and manufacturing outsourcing to Cirtec.

• Cash at FY-end was £12m; a £2.3m fundraising before costs completed in May 2024.

• SiSTEM funding covers half the cost of a £1.2m robotic stacking machine, with a further £400k grant; stated net equipment cost is £200k.

Board and executive committee updates

• Professor Brian Hayden, a founder and former University of Southampton professor, retired to the U.S. and remains a scientific consultant; no new chief scientific officer was appointed as focus shifts to product optimization and engineering scale-up.