HeiQ, a technology company from Schlieren in the canton of Zurich, has published its provisional figures for the first half of 2022 up to June 30. According to an interim report, HeiQ recorded a revenue increase of 17 percent to 30.3 million US dollars. This was 25.8 million US dollars in the first half of the previous year.
Despite the increased revenue, pre-tax profit fell by 65 percent from 3.4 million US dollars in the first six months of 2021 to now 1.2 million US dollars. The reasons given for this were a 26-percent increase in revenue (from 12.8 to 16.1 million US dollars) and rising operating and general costs. These increased by 31 percent to 13.9 million US dollars versus 10.6 million US dollars the preceding year.
HeiQ CEO Carlo Centonze commented: "Despite the continuing challenging global market conditions and a 3-month lockdown in our main market of China in Q1 2022, we remain cautiously optimistic and have plans in place to address those challenges and continue making fast progress with commercialization of our disruptive innovative technologies.” He added: “HeiQ is very well-positioned to spearhead the decarbonization of textiles, the second most polluting industry in the world. HeiQ AeoniQ, the world’s first climate positive fiber, has made significant steps towards full market launch in 1HY 2022.” He is confident that the new yarns can be delivered to clients by the end of the year.
HeiQ and German company Hugo Boss AG have entered into a partnership to achieve this. According to the interim report, the fashion manufacturer has so far invested 9 million US dollars in introducing the innovative, environmentally friendly yarn, HeiQ AeoniQ.