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Full report is enclosed to this press release and is also uploaded at https://www.heliospectra.com/investor-relations/reports-documents-archive.
SUMMARY OF REPORT
Financial Performance for the period October to December
- Order intake during the period amounted to
SEK 7,673 (4,248) thousand. -
Net sales during the period amounted to
SEK 9,998 (11,278) thousand. -
Operating profit during the period amounted to
SEK -8,950 (-27,894) thousand. -
Profit after tax was
SEK -9,075 (-27,892) thousand.
Financial Performance for the period January to December
- Order intake during the period amounted to
SEK 34,423 (-37,786) thousand. -
Net sales during the period amounted to
SEK 25,728 (35,221) thousand. -
Operating profit during the period amounted to
SEK -35,943 (-59,975) thousand. -
Profit after tax the period amounted to was
SEK -36,083 (-59,976) thousand.
Cash Flow for the period January to December
- Operating cash flow was
SEK -33,848 (-33,139) thousand. -
Total cash flow was
SEK 2,762 (-44,734) thousand. -
Cash equivalents at the end of the period were
SEK 13,485 (10,723) thousand.
CEO COMMENT
Dear Shareholders,
During 2022,
To support our new strategy, the development team has worked hard in 2022 to finalize a SMART lighting solution for the professional greenhouse market. The result is a wireless control system using zone strategies and energy saving algorithms based on weather forecasts, natural light levels, and energy prices, to optimize the light environment for specific crops, all while minimizing energy consumption and cost. The high efficacy of Heliospectra LED lights saves up to 40% compared with the standard HPS solutions presently used. On top of that, helioCORE(TM) our energy-saving system can save an additional 30% of the energy costs by limiting unnecessary use of supplemental light during the day, or in specific grow zones. These latest development projects are at the heart of the company's new data-driven and wireless solution offering. The system solution has been successfully delivered to prominent growers in
This week we also announced the MITRA Flex, the market's first available wireless controlled flexible far-red fixture. The new light fixture offers customers three spectra in one, making it perfect for customizable and application-based growing, such as end-of-day or end-of-production light treatments with far-red. In addition, far-red has been proven beneficial for a wide variety of crops, especially for cut flowers and potted flower plants, where our new solution will be a game changer.
As 2022 was a transition year, cumulated sales were lower than last year however, we finished with a relatively strong Q4. One reason is that our new product offering was available first in Q3 and most installations occur in September and October. In 2022 the economic uncertainty continued due to high energy and gas prices that negatively affected our customers' willingness to invest. However, while we saw many growers struggling, we also saw the market adaptation and transition to more energy-efficient solutions accelerating, placing
As previously announced, we have in 2022 carried out a significant cost-saving program and simplified our organization to meet lower sales volumes and to prepare
Our market focus has now shifted to the European greenhouse market, with a special focus on the ornamental market and leafy greens and herbs. Two segments exceptionally suited for our SMART solution and new MITRA platform. Our marketing and sales team is now working hard to bring in new projects and grow our customer base. We have already exhibited at three major trade shows in
We are also continuing to build strong relationships and expand our network with European and North American industry partners, including research organizations, crop consultants, grower associations, and greenhouse providers.
As part of simplifying our organization and decreasing costs, I also took the decision to close our legal entities in USA,
With the significantly lower cost base and our solution market ready, we expect to finish 2023 in a break-even situation. However, as the installations of the lighting season in the Northern Hemisphere will only start in the summer, our main shareholders have committed to support
With our new lean organization, our dedicated team, the new targeted product offering, and our focus on the customer experience,
CEO
For More Information:
http://www.heliospectra.com
The information was submitted for publication, though the agency of the named contact persons, at
For more information, please visit https://www.heliospectra.com.
Company HELIO is listed at Nasdaq First North Growth Market with
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