2021 was a transitional, yet successful year for HeiQ where the company was able to grow sales by 15% to US$58 million in 2021 (including acquisitions). Adjusted EBITDA was $6.5 million a decrease of 54% compared to the previous year.
HeiQ Materials AG, Zurich/Switzerland, achieved various milestones on its growth path despite being challenged by the different waves of the Covid-19 pandemic and its impact on global economies throughout the year. By acquiring 3 companies in adjacent fields, the company was able to strengthen its range of solutions for hygiene, and also enter new markets like coatings, plastics and symbiotic cleaners.
Hygiene accounted for sales of $29.3 million in 2021 (2020: $29.2 million) – an increase of 1%. This is equivalent to 51% of total sales in 2021 and includes acquired sales of in total $8.3 million. The organic growth of $8.2 million reflects the non-recurring opportunities that were possible in 2020 and that could not be fully compensated with the growth of the recurring business.