HeiQ Plc (LSE:HEIQ), an established global brand in materials and textile innovation which operates in high-growth markets, is pleased to provide a trading update for the financial year ended 31 December 2020 (“FY 2020” or “the Period”).

The Company expects to report that revenue for FY 2020 exceeded market expectations. This was due to a robust performance delivered by HeiQ’s core portfolio of products, including a particularly strong sales performance from its antimicrobial technology, HeiQ Viroblock, which was launched during the Period. Since then, it has been applied to over 1 billion facemasks and won the Swiss Technology Award in Q4 2020.

Operating profit for FY 2020 is anticipated to be in line with market expectations, even after the record levels of investment made by the Company in H2 2020 which will provide a strong platform from which it can achieve its long-term goals.

HeiQ’s trading for the full year to 31 December 2021 has commenced in line with market expectations and management is confident about the Company’s prospects for the year ahead.

HeiQ co-founder and CEO Carlo Centonze said:

“2020 was a milestone year for HeiQ, characterised by rapid growth and innovation. Not only did we respond quickly to the COVID-19 outbreak by bringing HeiQ Viroblock to market early, we did so while also delivering robust sales growth for many existing products within our 200-strong portfolio of novel textile technologies. These achievements solidified our position as a profitable and fast-growing pioneer in the $24 billion textile chemicals market.

“Managing to deliver such a strong performance, whilst also executing on our ambition to list in London through an oversubscribed £60 million fundraise, is testament to the hard work and dedication of our global team. Liquidity in the group remains strong and I am confident that continuing investments will allow us to continue to bring new technologies to market at high pace, whilst also building on the strong sales momentum delivered last year. We will monitor the global markets which continue to be affected by the pandemic but are pleased to have started trading in line with market expectations for the current financial year.”