EnSilica warns of FY EBITDA loss as delays trigger £1.6m provision
By Iain Gilbert
Date: Thursday 16 Oct 2025
(Sharecast News) - Chip maker EnSilica said on Thursday that delays to a key customer project and supply chain uncertainty had prompted a revision to its full-year guidance, with the group now expecting to deliver an EBITDA loss for the 2025 trading year.
The AIM-listed firm said its project with wireless technology firm SIAE Microelettronica remains on hold due to customer cash constraints. While SIAE has secured €149m in EU IPCEI grant funding for the product, where EnSilica's ASIC plays a critical role, funds were not expected to be released until 2026. As a result, EnSilica has booked a £1.6m bad debt provision for FY25 and removed SIAE-related income from future forecasts.
Separately, EnSilica said a recent cybersecurity issue within an automotive customer's supply chain has led the company to revise chip volume expectations for FY26, though the full impact remains under review.
EnSilica now expects FY25 revenues of approximately £18.2m and an EBITDA loss of £1.3m. Excluding the bad debt provision, EBITDA would have been around £300,000, broadly in line with its April trading update and market expectations of £400,000.
Chief executive Ian Lankshear said: "We are targeting an increase of more than 50% in revenues in the current financial year after having absorbed the impact from the challenges SIAE and our automotive client are facing, and it may well turn out that we have been too conservative. Frustrating as the impact of these two events are, they reflect the current stage of the development of the business. As the business continues to scale up the individual impact of specific projects will mitigate through the growth in the breadth of our chip supply contracts."
As of 0845 BST, EnSilica shares were down 4.40% at 43.50p.
Reporting by Iain Gilbert at Sharecast.com
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