Corporate News

Haydale (AIM: HAYD), the global advanced materials group, is pleased to announce its full year results for the year ended 30 June 2021 (“FY21”).

Operational Highlights:

• Good progress made on delivering the Group’s commercial strategy and, in a challenging trading environment the Group has delivered a robust trading performance;
• Culmination of the three-year wearable technology program with the English Institute of Sport which has produced heated garments worn by medal winners at Tokyo;
• Sale of an HT200 Plasma Reactor to 401 Tech Bridge, Rhode Island, US to support its ambition to accelerate the commercial adoption of new materials within their innovation ecosystem;
• Sale of elastomers to Bolfex for its premium shoe range and post year end commenced paid for feasibility projects with several premium leisure footwear manufacturers;
• Two year contract for the sale of Silicon Carbide (“SiC”) whiskers agreed with Qinhuangdao ENO High-Tech Material Development Co., Ltd in China and secured SIC sales to a further four companies in China in FY21;
• First sales and positive progress on the commercial roll out of CeramycGuard™ - currently working closely with a number of UK water utilities, other water facility management companies and more general civil engineering contractors;
• Ordered a larger HT1400 plasma reactor to deliver a significant increase in Haydale’s functionalisation capacity, to allow production to move to an industrial level in 2022;
• Focused development of our patented HDPlas^® process with key achievements including:
  • developed advanced nano enhanced SynerG SuperTough 3D filament; and
  • refined next generation functionalised biomedical sensor inks incorporating improved analyte detection through the incorporation of compatible functional groups to enhance the accuracy of diagnosis.

Summary of Results:

¹ On a pre IFRS 16 basis Adjusted Admin Expenses for the year including lease costs would have been £5.29 million (FY20: £5.99 million).

Financial Highlights

• Despite a challenging trading environment revenue fell by just 2% and gross profit margins remained resilient at 68% (FY20: 70%);
• On a pre IFRS 16 basis a further £0.701  million of cost savings achieved - £2.43 million of cost savings realised over the last three years;
• Reduction in Adjusted operating loss of £0.37 million to £2.17 million (FY20: £2.54 million); and
• Cash outflow from operations reduced by £1.74 million (52%) to £1.58 million (FY20: £3.32 million).

Post Period End Highlights:

• On 20 September 2021, the Company raised £5.10 million (gross) through the placing, retail offer and subscription of 85,055,893 new Ordinary Shares at 6.00 pence per share;
• Filing of a joint patent with Airbus for the lightning strike electrical pre-preg.  This technology has the potential to reduce the weight and environmental impact of a commercial airliner; and
• Signing of a memorandum of understanding with Viritech for the development of Type IV structural hydrogen tanks

Commenting on the results David Banks, Non-executive Chairman of Haydale, said:

‘The Board is encouraged by the very positive response from across several different industry sectors to our new products and technologies, which gives us confidence in our medium to long-term outlook. However, we are yet to see any sustained recovery in our Aerospace business and so we continue to be cautious with respect to short-term revenue. Haydale’s proprietary technology now has the potential to deliver material change across many sectors in ways that our customers are increasingly recognising as important in their search for more environmentally friendly materials. As a result, Haydale is expanding the Group’s capacity to functionalise nano and other materials and continues to invest in product development critical to our future success.’

For further information:

Notes to Editors

Haydale (AIM: HAYD), the global advanced materials group, is pleased to announce its full year results for the year ended 30 June 2021 (“FY21”).

Operational Highlights:

• Good progress made on delivering the Group’s commercial strategy and, in a challenging trading environment the Group has delivered a robust trading performance;
• Culmination of the three-year wearable technology program with the English Institute of Sport which has produced heated garments worn by medal winners at Tokyo;
• Sale of an HT200 Plasma Reactor to 401 Tech Bridge, Rhode Island, US to support its ambition to accelerate the commercial adoption of new materials within their innovation ecosystem;
• Sale of elastomers to Bolfex for its premium shoe range and post year end commenced paid for feasibility projects with several premium leisure footwear manufacturers;
• Two year contract for the sale of Silicon Carbide (“SiC”) whiskers agreed with Qinhuangdao ENO High-Tech Material Development Co., Ltd in China and secured SIC sales to a further four companies in China in FY21;
• First sales and positive progress on the commercial roll out of CeramycGuard™ - currently working closely with a number of UK water utilities, other water facility management companies and more general civil engineering contractors;
• Ordered a larger HT1400 plasma reactor to deliver a significant increase in Haydale’s functionalisation capacity, to allow production to move to an industrial level in 2022;
• Focused development of our patented HDPlas^® process with key achievements including:
  • developed advanced nano enhanced SynerG SuperTough 3D filament; and
  • refined next generation functionalised biomedical sensor inks incorporating improved analyte detection through the incorporation of compatible functional groups to enhance the accuracy of diagnosis.

Summary of Results:

¹ On a pre IFRS 16 basis Adjusted Admin Expenses for the year including lease costs would have been £5.29 million (FY20: £5.99 million).

Financial Highlights

• Despite a challenging trading environment revenue fell by just 2% and gross profit margins remained resilient at 68% (FY20: 70%);
• On a pre IFRS 16 basis a further £0.701  million of cost savings achieved - £2.43 million of cost savings realised over the last three years;
• Reduction in Adjusted operating loss of £0.37 million to £2.17 million (FY20: £2.54 million); and
• Cash outflow from operations reduced by £1.74 million (52%) to £1.58 million (FY20: £3.32 million).

Post Period End Highlights:

• On 20 September 2021, the Company raised £5.10 million (gross) through the placing, retail offer and subscription of 85,055,893 new Ordinary Shares at 6.00 pence per share;
• Filing of a joint patent with Airbus for the lightning strike electrical pre-preg.  This technology has the potential to reduce the weight and environmental impact of a commercial airliner; and
• Signing of a memorandum of understanding with Viritech for the development of Type IV structural hydrogen tanks

Commenting on the results David Banks, Non-executive Chairman of Haydale, said:

‘The Board is encouraged by the very positive response from across several different industry sectors to our new products and technologies, which gives us confidence in our medium to long-term outlook. However, we are yet to see any sustained recovery in our Aerospace business and so we continue to be cautious with respect to short-term revenue. Haydale’s proprietary technology now has the potential to deliver material change across many sectors in ways that our customers are increasingly recognising as important in their search for more environmentally friendly materials. As a result, Haydale is expanding the Group’s capacity to functionalise nano and other materials and continues to invest in product development critical to our future success.’

For further information:

Notes to Editors

Haydale (AIM: HAYD), the global advanced materials group, is pleased to announce its full year results for the year ended 30 June 2021 (“FY21”).

Operational Highlights:

• Good progress made on delivering the Group’s commercial strategy and, in a challenging trading environment the Group has delivered a robust trading performance;
• Culmination of the three-year wearable technology program with the English Institute of Sport which has produced heated garments worn by medal winners at Tokyo;
• Sale of an HT200 Plasma Reactor to 401 Tech Bridge, Rhode Island, US to support its ambition to accelerate the commercial adoption of new materials within their innovation ecosystem;
• Sale of elastomers to Bolfex for its premium shoe range and post year end commenced paid for feasibility projects with several premium leisure footwear manufacturers;
• Two year contract for the sale of Silicon Carbide (“SiC”) whiskers agreed with Qinhuangdao ENO High-Tech Material Development Co., Ltd in China and secured SIC sales to a further four companies in China in FY21;
• First sales and positive progress on the commercial roll out of CeramycGuard™ - currently working closely with a number of UK water utilities, other water facility management companies and more general civil engineering contractors;
• Ordered a larger HT1400 plasma reactor to deliver a significant increase in Haydale’s functionalisation capacity, to allow production to move to an industrial level in 2022;
• Focused development of our patented HDPlas^® process with key achievements including:
  • developed advanced nano enhanced SynerG SuperTough 3D filament; and
  • refined next generation functionalised biomedical sensor inks incorporating improved analyte detection through the incorporation of compatible functional groups to enhance the accuracy of diagnosis.

Summary of Results:

¹ On a pre IFRS 16 basis Adjusted Admin Expenses for the year including lease costs would have been £5.29 million (FY20: £5.99 million).

Financial Highlights

• Despite a challenging trading environment revenue fell by just 2% and gross profit margins remained resilient at 68% (FY20: 70%);
• On a pre IFRS 16 basis a further £0.701  million of cost savings achieved - £2.43 million of cost savings realised over the last three years;
• Reduction in Adjusted operating loss of £0.37 million to £2.17 million (FY20: £2.54 million); and
• Cash outflow from operations reduced by £1.74 million (52%) to £1.58 million (FY20: £3.32 million).

Post Period End Highlights:

• On 20 September 2021, the Company raised £5.10 million (gross) through the placing, retail offer and subscription of 85,055,893 new Ordinary Shares at 6.00 pence per share;
• Filing of a joint patent with Airbus for the lightning strike electrical pre-preg.  This technology has the potential to reduce the weight and environmental impact of a commercial airliner; and
• Signing of a memorandum of understanding with Viritech for the development of Type IV structural hydrogen tanks

Commenting on the results David Banks, Non-executive Chairman of Haydale, said:

‘The Board is encouraged by the very positive response from across several different industry sectors to our new products and technologies, which gives us confidence in our medium to long-term outlook. However, we are yet to see any sustained recovery in our Aerospace business and so we continue to be cautious with respect to short-term revenue. Haydale’s proprietary technology now has the potential to deliver material change across many sectors in ways that our customers are increasingly recognising as important in their search for more environmentally friendly materials. As a result, Haydale is expanding the Group’s capacity to functionalise nano and other materials and continues to invest in product development critical to our future success.’

For further information:

Notes to Editors

Haydale (AIM: HAYD), the global advanced materials group, is pleased to announce its full year results for the year ended 30 June 2021 (“FY21”).

Operational Highlights:

• Good progress made on delivering the Group’s commercial strategy and, in a challenging trading environment the Group has delivered a robust trading performance;
• Culmination of the three-year wearable technology program with the English Institute of Sport which has produced heated garments worn by medal winners at Tokyo;
• Sale of an HT200 Plasma Reactor to 401 Tech Bridge, Rhode Island, US to support its ambition to accelerate the commercial adoption of new materials within their innovation ecosystem;
• Sale of elastomers to Bolfex for its premium shoe range and post year end commenced paid for feasibility projects with several premium leisure footwear manufacturers;
• Two year contract for the sale of Silicon Carbide (“SiC”) whiskers agreed with Qinhuangdao ENO High-Tech Material Development Co., Ltd in China and secured SIC sales to a further four companies in China in FY21;
• First sales and positive progress on the commercial roll out of CeramycGuard™ - currently working closely with a number of UK water utilities, other water facility management companies and more general civil engineering contractors;
• Ordered a larger HT1400 plasma reactor to deliver a significant increase in Haydale’s functionalisation capacity, to allow production to move to an industrial level in 2022;
• Focused development of our patented HDPlas^® process with key achievements including:
  • developed advanced nano enhanced SynerG SuperTough 3D filament; and
  • refined next generation functionalised biomedical sensor inks incorporating improved analyte detection through the incorporation of compatible functional groups to enhance the accuracy of diagnosis.

Summary of Results:

¹ On a pre IFRS 16 basis Adjusted Admin Expenses for the year including lease costs would have been £5.29 million (FY20: £5.99 million).

Financial Highlights

• Despite a challenging trading environment revenue fell by just 2% and gross profit margins remained resilient at 68% (FY20: 70%);
• On a pre IFRS 16 basis a further £0.701  million of cost savings achieved - £2.43 million of cost savings realised over the last three years;
• Reduction in Adjusted operating loss of £0.37 million to £2.17 million (FY20: £2.54 million); and
• Cash outflow from operations reduced by £1.74 million (52%) to £1.58 million (FY20: £3.32 million).

Post Period End Highlights:

• On 20 September 2021, the Company raised £5.10 million (gross) through the placing, retail offer and subscription of 85,055,893 new Ordinary Shares at 6.00 pence per share;
• Filing of a joint patent with Airbus for the lightning strike electrical pre-preg.  This technology has the potential to reduce the weight and environmental impact of a commercial airliner; and
• Signing of a memorandum of understanding with Viritech for the development of Type IV structural hydrogen tanks

Commenting on the results David Banks, Non-executive Chairman of Haydale, said:

‘The Board is encouraged by the very positive response from across several different industry sectors to our new products and technologies, which gives us confidence in our medium to long-term outlook. However, we are yet to see any sustained recovery in our Aerospace business and so we continue to be cautious with respect to short-term revenue. Haydale’s proprietary technology now has the potential to deliver material change across many sectors in ways that our customers are increasingly recognising as important in their search for more environmentally friendly materials. As a result, Haydale is expanding the Group’s capacity to functionalise nano and other materials and continues to invest in product development critical to our future success.’

For further information:

Notes to Editors