REG - HeiQ PLC - FY 2021 Trading Update and Notice of Results

HeiqAnnouncement

14/04/2022 07:16

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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 HeiQ@secnewgate.co.uk
(mailto:HeiQ@secnewgate.co.uk)  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
(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                                                +41 56 250 68 50

 Carlo Centonze (CEO)
 Cenkos Securities plc (Joint Broker)                    +44 (0) 207 397 8900

 Stephen Keys / Callum Davidson
 SEC Newgate (Media Enquiries)                           +44 (0) 20 3757 6882

 Elisabeth Cowell / Axaule Shukanayeva / Molly Gretton   HeiQ@s (mailto:HeiQ@secnewgate.co.uk) ecnewgate (mailto:HeiQ@secnewgate.co.uk)
                                                         .co.uk (mailto:HeiQ@secnewgate.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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