Key Takeaways:
- Product Innovation: Heliospectra has advanced its technological offerings with the introduction of MITRA X Flex and a wireless PAR sensor, DOXA, enhancing sustainability and efficiency in agricultural practices.
- Leadership Enhancements: With Bonny Heeren appointed as CEO, Heliospectra aims to further align its strategic direction towards customer-centric solutions.
- Financial Resilience: Despite macroeconomic challenges, the company reported a 37% increase in annual turnover, demonstrating financial strength.
- Global Expansion: Heliospectra expanded its operational footprint with a new office in the Netherlands, emphasizing its strategic focus on key markets.
- Commitment to Sustainability: The company continues to integrate technology that substantially reduces energy consumption, aligning with global environmental objectives.
Overview
In 2023, Heliospectra, a company renowned for its intelligent lighting solutions for controlled environment agriculture, reinforced its position in the AgTech industry through significant product innovation and strategic corporate advancements.
Product Developments and Technological Advancements
The year was marked by the launch of innovative products such as MITRA X Flex and the DOXA wireless PAR sensor. These products are designed to optimize agricultural outputs while prioritizing energy efficiency and resource management. “Our advanced MITRA X Flex and the wireless PAR sensor DOXA are pivotal in driving forward our mission to enhance agricultural productivity with minimal environmental impact,” stated the newly appointed CEO, Bonny Heeren.
Strategic Leadership and Organizational Focus
Heliospectra witnessed a strategic shift in leadership with Bonny Heeren taking over as CEO and interim CFO. This transition is aimed at steering the company towards a more customer-focused approach, optimizing product offerings to meet market demands effectively. “With our streamlined organization and dedicated team, Heliospectra is well-positioned to assert its place as a leader in smart lighting solutions,” said Bonny Heeren, reflecting on the company’s future direction.
Financial Growth Amid Economic Challenges
Despite facing economic pressures like inflation and increased interest rates, Heliospectra managed a significant growth in turnover by 37% compared to the previous year. This growth is attributed to strategic cost-saving measures and an expanded product line that meets the evolving needs of the global market.
Expansion and Sustainability Initiatives
In pursuit of broader market influence, Heliospectra opened a new office in the Netherlands, aiming to strengthen its presence in Europe. The company remains committed to sustainable practices, with its product innovations resulting in up to 35% energy savings. These initiatives are in line with Heliospectra’s goal to reduce the ecological footprint of agricultural practices globally. “By integrating cutting-edge technology and sustainable practices, we are not only optimizing agricultural outcomes but also significantly reducing energy consumption,” remarked CEO Bonny Heeren.
Heliospectra AB Latest News
Reports Solid Order Intake Amid Financial Challenges in Q1 2024 (2024/05/03)
Heliospectra AB, a global leader in LED lighting solutions for agriculture, achieved a record order intake in Q1 2024, driven by demand from Canadian customers. The company launched the MITRA X LED light series, aimed at enhancing agricultural yields. Despite operational losses, Heliospectra is expanding its reach in Europe and remains committed to sustainability.
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.
