Key Takeaways:
- Record Order Intake: Heliospectra experienced a substantial rise in order intake in Q1 2024, particularly from the Canadian market.
- Consistent Sales with Persistent Losses: Sales remained stable while operational losses continued, showing slight improvement from the previous year.
- Expansion and Innovation: Continued expansion into strategic markets and product innovation underline Heliospectra’s growth strategy.
- Financial Concerns: A control balance sheet is being prepared due to concerns about the company’s equity levels.
Overview of Financial Performance and Market Strategies
Heliospectra AB, a global leader in innovative LED lighting solutions for agriculture, has announced its financial results for Q1 2024. Despite facing ongoing financial hurdles, the company has achieved a record order intake, driven significantly by demand from Canadian customers.
Market Expansion and Technological Innovation Heliospectra’s CEO, Bonny Heeren, highlighted the strategic steps the company has taken, stating, “This quarter’s record-breaking order intake of 26,829 TSEK, almost equal to the total order intake for 2023, confirmed that we had made the right choices and delivered a unique, value-driven solution for our customers.” The company continues to focus on expanding its reach, particularly in Europe with the establishment of a new office in the Netherlands, aimed at bringing them closer to significant market opportunities.
Product Developments The launch of the MITRA X LED light series represents Heliospectra’s commitment to innovation. These new products offer high output and uniformity, crucial for enhancing agricultural yields. Heeren remarked on the product launch, “Not only does it allow us to maintain our relevancy as a leading and innovative brand, but its technical updates also allow us to better cater to the needs of larger Agtech companies.”
Financial Health and Projections Despite the promising increase in order intake, Heliospectra continues to report operational losses, with a slight improvement this quarter to SEK -6,559 thousand from SEK -6,474 thousand in Q1 2023. The company’s preparation of a control balance sheet in response to its equity concerns signals ongoing financial challenges. Heeren expressed cautious optimism: “With the increased order intake, and our 80-100 percent prepayment conditions, we will see a positive cash flow in the coming period, strengthening the company’s liquidity.”
Strategic Focus and Future Outlook
Sustainability and Environmental Impact Heliospectra’s solutions are designed to reduce energy consumption and carbon emissions, aligning with global sustainability goals. The CEO emphasized, “Our mission is to empower researchers, growers, and commercial producers to optimize their resources and output, thereby enhancing food security and sustainability.”
Heliospectra AB Latest News
Secures Order from Leading Canadian Herb Grower (2024/03/22)
Heliospectra AB has secured a new order from a herb grower in Ontario, Canada. The order includes state-of-the-art MITRA X LED lights and the helioCORE™ control system designed to optimize plant growth by tailoring light distribution and quality to the specific needs of different crops. The installation will also feature Heliospectra’s wireless system, including the helioCORE™ DLI Management System and the new DOXA wireless sensor, which offers growers up to 35% energy savings beyond the energy efficiency gains from transitioning from HPS to LED lighting. The first delivery of the order is anticipated in Q3 2024.
Introduces Groundbreaking 1500W MITRA X LED Light (2024/03/14)
Heliospectra has launched the new 1500W MITRA X LED light. It is a modular system designed for high-light crops and vegetable growers, offering the standard 90-5-5 spectrum. The MITRA X ensures hassle-free integration into existing greenhouse setups with a variety of wattage options, standard connectors, and wireless control capabilities. The platform introduces dynamic steering and control features, including a Daily Light Integral (DLI) Management System and Dynamic Grow Zones. Wireless sensor integration further enables data-driven decision-making, enhancing crop quality and operational efficiency.
Secures Order from Ontario Greenhouse Grower (2024/03/07)
Heliospectra AB has announced a new order for its MITRA X LED light and helioCORE™ system worth 8.3 million SEK from a top greenhouse grower based in Ontario, Canada. The order will be delivered in four stages throughout 2024 and 2025 and aims to drive sustainability, boost efficiency, and optimize yields within the customer’s operations. The helioCORE™ system introduces a new level of control and efficiency in greenhouse lighting, enabling growers to achieve additional energy savings of up to 35%.
Updates Year-End Financial Performance (2024/02/27)
Heliospectra AB had mixed financial results in 2023, with declining order intake but increased net sales. Despite market challenges, the company secured important tenders and expanded its sales network. Heliospectra remained committed to innovation, launching several groundbreaking products and announcing new platforms to debut in 2024. The company’s cost-reduction efforts led to significant savings and operational efficiencies. With a positive start to 2024, Heliospectra is poised to capitalize on emerging market opportunities and continue its trajectory of innovation and growth.
Bridge Loan for Future Growth (2023/11/22)
Heliospectra AB has received a SEK 10 million bridge loan from its top shareholders to meet short-term working capital needs and drive future growth. The company has launched new products, including helioCORE 2.0, to optimize energy and autonomous growing in greenhouses. The loan will aid Heliospectra’s strategic market growth, including opening a new office and securing key customer projects, reflecting the shareholders’ confidence in the company’s vision and prospects.
Heliospectra Publishes Interim Report for January to September 2023 (2023/10/27)
- Heliospectra’s order intake for Q3 2023 was SEK 7,527 thousand, while net sales reached SEK 8,276 thousand.
- The company saw a 21% growth in net sales compared to the same quarter last year and a 61% increase compared to last year overall.
- Operating results improved by almost 11 MSEK, primarily due to increased sales and cost-saving measures.
- Heliospectra won a tender with the Technical University of Denmark and signed a project with Illinois University.
- The company is set to launch an upgraded version of its helioCORE™ 2.0 software in Q4, aiming for a 35% additional reduction in energy use.
Heliospectra AB Reports Strong Growth and Strategic Advancements: Financial Results for April – June 2023 (2023/08/25)
The company experienced a significant increase in order intake and net sales in Q2 2023, with SEK 9,503 thousand and SEK 10,094 thousand respectively. The operating result and profit after tax also showed improvement. For H1 2023, order intake and net sales continued to grow significantly, and the operating result and profit after tax improved compared to the same period last year. In terms of cash flow, the company had a positive operating cash flow of SEK 4,974 thousand and total cash flow improved to SEK 2,711 thousand in Q1 2023. Cash equivalents also increased to SEK 16,196 thousand.
Heliospectra Announces Q1 2023 Developments and Financial Results (2023/04/28)
Heliospectra recently launched a wireless solution, MITRA Flex, and a 1000-watt LED top light fixture. The sales team has promoted these new products, resulting in an expanded partner network in Europe and Canada. Heliospectra’s net sales in Q1 2023 increased by 21% compared to the same period in 2022, thanks to a cost-saving program and re-organization conducted in 2022. The board of directors decided to undertake a rights issue, raising approximately USD 1.95 million. Heliospectra is now focused on entering the European and Canadian markets.
Heliospectra AB Releases Financial Performance For FY2022 (2023/02/24)
Heliospectra AB, a Stockholm-based company, recently released its financial report for October to December. Order intake rose to SEK 7,673k (USD 74k) from SEK 4,248k (USD 41k) the previous year, but net sales fell to SEK 9,998k (USD 96k) from SEK 11,278k (USD 1,080k) the previous year. The operating loss improved to SEK -8,950k (USD -86k) from SEK -27,894k (USD -2,680k) the previous year, but the company’s loss after tax was SEK -9,075k (USD -87k) compared to SEK -27,892k (USD -2,680k) in the previous year.
US AgTech Company Selects Heliospectra’s Solutions (2022/11/14)
Heliospectra AB (publ) (Nasdaq First North Growth Market: HELIO) announced a new order for its smart wireless solution from a US AgTech firm. The solution includes the helioCORETM system, the Adelphi wireless connector, and the MITRA LED lighting solution, and enables growers to optimize crop lighting conditions while offering substantial energy savings. The order is worth USD 795,000 and the customer is a Northeast-based firm that uses DNA-encoded libraries, AI, and Machine Learning to offer sustainable crop protection solutions. Heliospectra’s system provides producers with light automation, control, and significant energy savings, and enables them to construct growth zones, set DLI targets, and build and duplicate light plans throughout the growth cycle.
Heliospectra (STO:HELIO) AB Publishes Its Q3 Report Showing Some Consolidation (2022/10/21)
SALES AND FINANCIAL PERFORMANCE JULY-SEPTEMBER
- Order intake during the period July – September amounted to SEK 9,262 (6,923) thousand.
- Net sales during the period July – September amounted to SEK 6,819 (5,215) thousand.
- Operating profit during the period July – September amounted to SEK -8,951 (-15,549) thousand.
- Profit after tax was SEK -8,966 (-15,547) thousand.
SALES AND FINANCIAL PERFORMANCE JANUARY-SEPTEMBER
- Order intake during the period January – September amounted to SEK 21,746 (-42,034) thousand.
- Net sales during the period January – September amounted to SEK 15,730 (23,943) thousand.
- Operating profit during the period January – September amounted to SEK -26,993 (-32,081) thousand.
- Profit after tax the period January – September amounted to was SEK -27,008 (-32,084) thousand.
Heliospectra Issue USD 2.8 Million Shares By Set-Off (2022/09/12)
Heliospectra received a USD 1.6 million credit facility from its principal owners to strengthen the company’s liquidity and working capital. To secure liquidity in the short term, the company’s three main owners granted Heliospectra an unlimited credit facility, which extends to the publication of the Year End Report 2022. Today, the company announced that it will issue roughly SEK 25.9 million shares to four of its main shareholders to raise capital and strengthen the company’s liquidity and working capital in a time and cost-effective manner.
