EnSilica PLC (AIM:ENSI) said it expects full-year results to be ahead of market expectations as it made a strong start to the current year despite macro-economic challenges.
The manufacturer of electronic chips now forecasts revenue and adjusted underlying earnings (EBITDA) to come in ahead of market expectations for the year-end 31 May 2022.
Revenue is expected to be roughly £15.1mln, a 75% increase compared to 2021, with adjusted EBITDA of £500,000, up from £60,000 year-on-year.
According to a statement, it “continued to maintain a healthy order book and new pipeline” including penning a significant contract with a European original equipment manufacturer worth in excess of US$30mln over seven years, commencing at the end of 2024.
"2022 was a transformational year for EnSilica, achieving a huge step forward with our admission to trading on AIM in May, whilst delivering a substantial new business pipeline during the year,” said chief executive Ian Lankshear.
The company did not provide current market expectations for the year.
Full year results are expected to be released at the end of October.