Key Takeaways:
- Bridge Loan Agreement: Heliospectra AB secures a SEK 10 million loan from its three largest shareholders.
- Purpose of Loan: To provide liquidity for short-term working capital and support future growth.
- Company Transformation: Includes cost-saving measures and launching new products like MITRA X and helioCORE 2.0.
- Energy Optimization Focus: helioCORE 2.0 contributes to significant energy savings in greenhouses.
- Strategic Expansion: The loan will facilitate the company’s commercial plan for 2024, opening a Dutch office and securing customer projects.
- Shareholder Support: Weland Stål AB, Agartha AB, and Corespring New Technology AB show confidence in Heliospectra’s vision.
- Loan Details: Disbursement is immediate with a 12% annual interest rate, due for repayment by June 15, 2024.
Overview
Heliospectra AB, a leader in intelligent LED lighting technology, has received a SEK 10 million bridge loan from its top shareholders. This capital injection aims to meet the company’s short-term working capital needs and drive future growth.
Transformation and Product Development
The company is transforming, having launched several new products and implementing cost-saving measures. The new helioCORE 2.0, featuring an improved DLI algorithm, marks a step towards energy optimization and autonomous growing in greenhouses.
Strategic Goals and Shareholder Confidence
The loan will aid Heliospectra’s strategic market growth, including opening a new office and securing key customer projects. The shareholders’ support reflects their belief in the company’s vision and prospects.
Heliospectra AB Latest News
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)
April – June 2023
- Order Intake: SEK 9,503 thousand (up from 5,346 thousand in the same period last year).
- Net Sales: SEK 10,094 thousand (up from 3,349 thousand).
- Operating Result: SEK -4,656 thousand (improved from -10,245 thousand).
- Profit After Tax: SEK -4,720 thousand (improved from -10,245 thousand).
January – June 2023
- Order Intake: SEK 11,152 thousand (up from 7,387 thousand).
- Net Sales: SEK 17,127 thousand (up from 8,911 thousand).
- Operating Result: SEK -11,130 thousand (improved from -18,042 thousand).
- Profit After Tax: SEK -11,194 thousand (improved from -18,042 thousand).
Cash Flow, January – March 2023
- Operating Cash Flow: SEK 4,974 thousand (up from 2,741 thousand).
- Total Cash Flow: SEK 2,711 thousand (up from -2,023 thousand).
- Cash Equivalents: SEK 16,196 thousand (up from 8,700 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 been promoting 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.
