HeiQ PLC Notice of Results and Audit Update (8847Q)
23 Octubre 2023 - 1:04AM
UK Regulatory
TIDMHEIQ
RNS Number : 8847Q
HeiQ PLC
23 October 2023
23 October 2023
HeiQ Plc
("HeiQ" or "the Company")
Notice of Results and Audit Update
HeiQ (LSE:HEIQ), a leading company in materials innovation and
hygiene technologies, announces that its audited accounts for the
year ended 31 December 2022 ("2022 Accounts") will be published
this week alongside its results for the six months ended 30 June
2023 ("H1 2023"). Following publication, the Company expects shares
to recommence trading shortly thereafter. The announcement of the
2022 Accounts will contain details on the timing of resumption of
trading. Additionally, the Company gives the below update regarding
the audit work which is now in its final stages.
Audit Update
With the audit work reaching its final stages, the Company has
concluded that it is necessary to defer revenues (and corresponding
profits) that were originally recognized in H1 2022 and H2 2022
from certain milestone partnership agreements. Following our review
of the contractual arrangements it is now deemed appropriate to
recognize such revenues over a longer time period to coincide with
specific exclusivity rights being granted by HeiQ to the partners.
Consequently, revenue of US$4.0 million that was previously
recognized during FY 2022 has been deferred over a period of 4
years with initial revenues being recognized in H2 2022. This means
the Company now expects revenues for FY 2022, alongside gross
profits and loss from operations, to be below previous market
guidance. Some of these changes will also impact the H1 2023
interim reporting, which will be published together with the FY
2022.
This change in revenue recognition has not impacted on the
Company's cash position and the Directors maintain their view that
the Group continues to have adequate resources. The financial
statements continue to be prepared on a going concern basis,
notwithstanding the material uncertainty previously announced due
to the uncommitted nature of the Company's credit facilities.
For further information, please contact:
HeiQ Plc
Carlo Centonze (CEO) +41 56 250 68 50
Cavendish Securities plc (Broker) +44 (0) 207 397
Stephen Keys / Callum Davidson 8900
SEC Newgate (Media Enquiries) +44 (0) 20 3757
Elisabeth Cowell / Molly Gretton / Tom 6882
Carnegie HeiQ@s ecnewgate
.co.uk
About HeiQ
HeiQ is a Swiss-based international company that innovates
pioneering and differentiating materials in partnership with
established global brands. We bridge the academic and commercial
worlds to conceive performance-enhancing materials and
technologies, working with aligned brands to research, manufacture
and bring products to market, aiming for lab to consumer in months.
Our goal is to improve the lives of billions by innovating the
materials that go into everyday products, making them more
hygienic, comfortable, protective, and sustainable.
Our strong IP portfolio positions us as an innovation leader for
niche, premium and high-margin products in the textile chemicals,
man-made fibers, paints and coatings, antimicrobial plastics,
probiotics and household cleaner markets. We have also expanded
into healthcare facilities, probiotic cleaning, and hygiene
coatings markets to help make hospitals and healthcare environments
more hygienic.
We have developed over 200 technologies in partnership with 300
major brands. With a substantial research and development pipeline,
including key technology development projects HeiQ AeoniQ, HeiQ
ECOS, HeiQ GrapheneX, and HeiQ Synbio, HeiQ aims to deliver
shareholder value through sales growth and entry into new lucrative
markets through disruptive innovation and M&A.
We have built a strong reputation for ESG & sustainable
innovation, having won multiple awards including the Swiss
Technology Award twice and the Swiss Environmental Award. Under
experienced leadership, we are committed to driving our profit in
close connection with people and the planet. For more information,
please visit www.heiq.com.
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