Stockholm-based Heliospectra AB released its financial performance report from October to December. Order intake amounted to SEK 7,673 thousand (USD 74K), up from last year’s SEK 4,248 thousand (USD 41K). However, the net sales during the same period were SEK 9,998 thousand (USD 96K), down from the last year’s 11,278 thousand (USD 1,080K).
The operating profit during the period amounted to SEK -8,950 thousand (USD -86K), a considerable improvement from the previous year’s operating profit of SEK -27,894 thousand (USD -2,680K). Despite this, the company’s profit after tax was SEK -9,075 thousand (USD -87K), compared to SEK -27,892 thousand (USD -2,680K) in the previous year.
Commenting on the results, Bonny Heeren, CEO of Heliospectra AB, stated: “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™, 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 growing zones.”
Heliospectra AB has released its financial performance from January to December. The company’s order intake amounted to approximately 3.3 million USD, representing a significant improvement from the previous year’s negative order intake of about -3.6 million USD (converted from SEK -37,786 thousand). However, the net sales during the same period decreased to approximately 2.5 million USD, down from about 3.4 million USD (converted from SEK 35,221 thousand) in the previous year.
AdvertisementFrom January to December, Heliospectra AB reported an operating loss of approximately -3.5 million USD, compared to an operating loss of roughly -5.8 million USD (converted from SEK -59,975 thousand) in the previous year. In addition, the company’s profit after tax was approximately -3.5 million USD, compared to about -5.8 million USD (converted from SEK -59,976 thousand) in the previous year.
“Thanks to our significantly lower cost base and the successful development of our cutting-edge solution, Heliospectra AB anticipates achieving a break-even situation by the end of 2023. However, as installations for the lighting season in the Northern Hemisphere won’t commence until summer, our major shareholders have pledged their support to help us through the upcoming low cash flow period in Q1 and Q2,” stated Bonny Heeren. “With our newly optimized organization, dedicated team, targeted product offering, and customer-centric approach, Heliospectra is poised to establish itself as a leader in Smart Lighting. I am thrilled to continue leading this innovative company and creating value for our customers and shareholders while redefining the potential of nature itself.”
According to the cash flow report from January to December, Heliospectra AB’s operating cash flow was approximately -3.2 million USD, compared to about -3.2 million USD (converted from SEK -33,139 thousand) in the previous year. The total cash flow for the period was approximately 265 thousand USD, up from about -4.3 million USD (converted from SEK -44,734 thousand) in the previous year. The company’s cash equivalents at the end of the period amounted to approximately 1.3 million USD, up from about 1.0 million USD (converted from SEK 10,723 thousand) at the end of the previous year.
Image provided by Heliospectra AB
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