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Full report is enclosed to this press release and is also uploaded at https://heliospectra.com/investor-relations/financial-reports-documents/reports/.
SUMMARY OF REPORT
Sales and financial performance July -
- Order intake during the period amounted to
SEK 7,527 (9,262) thousand. -
Net sales during the period amounted to
SEK 8,276 (6,819) thousand. -
Operating result during the period amounted to
SEK -4,873 (-8,951) thousand. -
Profit after tax was
SEK -4,182 (-8,966) thousand.
Sales and financial performance January -
- Order intake during the period amounted to
SEK 18,679 (21,746) thousand. -
Net sales during the period amounted to
SEK 25,403 (15,730) thousand. -
Operating result during the period amounted to
SEK -16,003 (-26,993) thousand. -
Profit after tax was
SEK -15,376 (-27,008) thousand.
Cash flow January -
- Operating cash flow was
SEK -21 469 (-30 422) thousand. -
Total cash flow was
SEK -2 428 (6 772) thousand. -
Cash equivalents at the end of the period were
SEK 11 057 (17 495) thousand.
CEO COMMENT
Dear Shareholders,
As we wrap up the third quarter of 2023, I am delighted to share some significant developments and achievements with you. In September we had a record high turnover as a result of our focus on the greenhouse segment with a nice positive result. This is a testament to the hard work and dedication of our team, as well as the trust and support you have placed in
We had a substantial improvement in net sales. We witnessed a 21% growth compared to the same quarter last year and an impressive 61% increase compared to last year. This means we are now at the same level as we closed 2022. While we acknowledge that we will not meet our 2023 high ambition objective, it's important to recognize that we faced several challenges throughout the year, as we previously mentioned. Factors such as inflation, higher interest rates, reduced energy prices, and a delayed subsidizing program in
Despite these challenges, our operating results in Q3 improved by almost 11 MSEK, an impressive 46%, primarily due to increased sales and our diligent cost-saving and restructuring program. This demonstrates our commitment to enhancing our operational efficiency and profitability.
We won a tender with the prestigious
During the third quarter, we actively engaged with our industry by participating in two key events. In September, we had the privilege of joining the
At the
Our dedicated development team has also made significant strides in finalizing DOXA, our wireless PAR sensor introduced earlier this year at Greentech. The first units are now ready and are being dispatched for their inaugural field test at a commercial installation. DOXA promises to grant growers enhanced flexibility and control over their grow zones connected to the sensor. It also offers cost savings during installation, as no new infrastructure, such as wires, will be required. In Q4, our development team will step up the development for the long-awaited next-generation ELIXIA and DYNA with additional functionality that is scheduled to be released in 2024.
To further educate growers on the importance and efficiency of far-red light and our innovative MITRA X FLEX with a flexible far-red channel, we released a new E-Book in Q3 titled Understanding the Impact of Far-Red. This comprehensive resource provides insights into the effects of far-red light and how growers and businesses can benefit from a targeted far-red light strategy. Showing that we are much more than a hardware LED provider but a lighting partner adding real value to our customers! We plan to follow up on this initiative with a far-red webinar on
In conclusion, I am excited about our continuous progress and the promising opportunities on the horizon. We now have an innovative and relevant product portfolio and are on a path toward sustained growth and profitability. I want to express my gratitude for your continued support and trust in
With gratitude,
CEO and Interim CFO
For More Information:
http://www.heliospectra.com
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