FY 2021 Trading Update and Notice of Results

RNS Number : 3915I

HeiQ PLC

14 April 2022

 

14 April 2022

HeiQ Plc

("HeiQ" or "the Company")

FY 2021 Trading Update, Notice of Results and Investor Presentation

HeiQ Plc (LSE: HEIQ), a Swiss IP innovator and established global brand in materials and textile innovation which operates in high-growth markets , announces that the Company's full year results for the year ended 31 December 2021 ("FY 21") will be published on Thursday 28 April 2022.

FY 21 Trading Update

The Company expects to report total revenue of US$57.9m, representing a 15% increase compared with 2020 and ahead of market guidance. The Company saw particularly strong sales growth in the fourth quarter of the financial year. In 2021, the Company made further investments into the business to support its growth, increasing its number of employees from 140 to more than 200. Gross margin is expected to be 47% for FY21. HeiQ's strong recent sales performance demonstrates the increasing demand for its products and technologies across several exciting and growing markets, whilst the headwinds caused by higher raw materials and logistics costs previously flagged in the interim results have continued into the second half of the year, impacting gross margin. Following consultation with the auditors, the board has prudently determined to defer the recognition of certain revenues related to the achievement of technology milestones with The Lycra Company associated with HeiQ's AeoniQ technology from FY21 into FY22. This has resulted in a deferral of approximately US$1m of operating profit into 2022, previously expected to be recognised in FY 21. Noting the above factors, the Company expects to report operating profit of approximately US$3.4m and net income after taxation of approximately US$2.7m. 

HeiQ continues to see strong demand for its products and anticipates revenue growth of approximately 20% for its 2022 financial year. Whilst there remains significant uncertainty in markets globally, the board is confident that HeiQ's margins will improve during FY22.

Details of webinar for equity analysts

Carlo Centonze, CEO, and Xaver Hangartner, CFO will host a webinar for equity analysts at 09:30am BST on Thursday 28 April 2022 . Any equity analysts wishing to register should contact SEC Newgate at  [e-mail]   where further details will be provided. 

Details of webinar for investors

The Company is also pleased to announce that Carlo Centonze and Xaver Hangartner will provide a live presentation relating to its 2021 Full Year Results via the Investor Meet Company platform at 12:00pm BST on Tuesday 3rd May 2022.

The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 09:00am the day before the meeting or at any time during the live presentation.

Investors can sign up to Investor Meet Company for free and add to meet HeiQ Plc via:

https://www.investormeetcompany.com/heiq-plc/register-investor

Investors who have already registered and added to meet the Company will be automatically invited.

This announcement contains inside information

For further information, please contact:

HeiQ Plc Carlo Centonze (CEO)	[phone]
Cenkos Securities plc (Joint Broker) Stephen Keys / Callum Davidson	[phone]
SEC Newgate (Media Enquiries) Elisabeth Cowell / Axaule Shukanayeva / Molly Gretton	[phone] HeiQ@s ecnewgate .co.uk

About HeiQ

HeiQ is focused on improving the lives of billions of people world-wide by innovating the materials people use every day. HeiQ has strong IP which is at the forefront of global technology in the $10 billion antimicrobial fabrics market, $24 billion textile chemicals market, the $50 billion probiotics market and the $150 billion man-made fibers market. It has also moved into the medical device, healthcare and hygiene coatings markets, to help make hospitals and healthcare environments more hygienic. HeiQ aims to deliver growth for its shareholders through a combination of increased sales of its core products and by entering additional lucrative markets through disruptive innovations and M&A.

HeiQ has created some of the most effective, durable and high-performance technologies in the market today. These include cooling, warming, drying, repelling and purification technologies as well as technologies that destroy viruses. Since 2005, HeiQ has developed over 200 technologies in partnership with 300 major brands and it has a significant R&D pipeline containing over 50 projects. The Company has won multiple awards and gained a strong reputation for the ESG & sustainable downstream effect of its innovations. HeiQ is the only company to have won the Swiss Technology award twice. It has also won the Swiss Environmental award with an innovation that saves energy and water consumption during the textile manufacturing process.

Led by an experienced leadership team, HeiQ researches new solutions for partners, delivers scaled up manufacturing from its sites across the world and helps partners market the product to end consumers - aiming for lab to consumer in months.

 

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