Heliospectra (STO:HELIO) AB Publishes Its Q3 Report Showing Some Consolidation

HELIO published its interim report for the third quarter.

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.

In its precedent report, the company outlined its reports to consolidate its positions, secure contracts from its trials, and lower the cash burn rate to become profitable in due course.

“Our sales and helioCARE team, in close partnership with our Dutch and Canadian partners, have worked hard to close and secure several installations with prominent growers in the Netherlands, Denmark, the UK, and Canada. With these installations in numerous commercial greenhouse environments and on different crops, we are able to improve our solutions further while putting a number to the actual value for our customers” comments Heliospectra’s (STO: HELIO) CEO Bonny Heeren

In order to further its process, the company took out a loan from its principal owners to secure its liquidity needs during the period up to and including the date of publication of the company’s year-end report for the financial year 2022.

Looking at its results, though HELIO registered a negative operating margin and negative results, it managed to nearly half its loss compared to the same period (Jul – Sep) last year.

“With the new strategy and our competitive and unique SMART lighting solution ready to market, I am convinced our topline will increase in next fiscal year 2023” added Bonny Heeren in the company’s press release.

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Image provided by Heliospectra (STO: HELIO)