(
Full report is enclosed to this press release and is also uploaded at https://heliospectra.com/investor-relations/financial-reports-documents/reports/.
SUMMARY OF REPORT
Sales and financial performance April -
- Order intake during the period amounted to
SEK 9,503 (5,346) thousand. -
Net sales during the period amounted to
SEK 10,094 (3,349) thousand. -
Operating result during the period amounted to
SEK -4,656 (-10,245) thousand. -
Profit after tax was
SEK -4,720 (-10,245) thousand.
Sales and financial performance January -
- Order intake during the period amounted to
SEK 11,152 (7,387) thousand. -
Net sales during the period amounted to
SEK 17,127 (8,911) thousand. -
Operating result during the period amounted to
SEK -11,130 (-18,042) thousand. -
Profit after tax was
SEK -11,194 (-18,042) thousand.
Cash flow, January -
Operating cash flow was
CEO COMMENT
Dear Shareholders,
We are halfway through the year, and our efforts have been steadfastly directed towards addressing customer needs, extending our footprint, and enhancing the quality and efficiency of our offerings. Within this time frame, we have doubled our revenue compared to 2022, thanks to a net revenue increase of 92% after the second quarter of 2023. We also see an increase in order intake of 50% compared to last year.
While these results are positive, it's important to note that our expectations for the second quarter of 2023 were initially higher. As the quarter unfolded, several factors, including inflation, higher interest rates, reduced energy prices, and a delayed subsidizing program in
Undoubtedly, the Dutch market holds immense importance for
In June, we had the privilege of participating in Greentech, the world's premier Horticulture trade show held in
Our development team has made commendable efforts in realigning our product portfolio to meet the needs of commercial growers throughout 2022 and the first half of 2023. This was evident at Greentech, where we showcased our wireless solution, featuring innovative products such as the MITRA X 800W and the MITRA X Flex with dynamic far-red functionality. Additionally, our new wireless PAR sensor and the CERES LED light platform were introduced. The CERES platform, a 1000-watt high-light HPS replacement, is equipped with three targeted greenhouse spectra, pre-installed Wieland connectors, wide-beam options, and wireless dimming capabilities. This allows us to better cater to the retrofit market and high-light crops like cut flowers, tomatoes, and cucumbers. Notably, the CERES platform includes a far-red Flex version designed for end-of-day or end-of-production light treatments to expedite growth and stimulate flowering. The final step involves securing North American certification to ensure accessibility to various rebate programs for our customers.
The transformational success we've experienced is a direct outcome of the customer-centric strategy we initiated in 2022. This approach has deepened our understanding of customer needs and our ability to swiftly align our development and product offerings accordingly.
Continuing our commitment to improvement, we are excited to announce the forthcoming launch of helioCORE(TM) 2.0 software this fall. This upgraded version boasts a user-friendly click-and-drop feature for creating grow zones and incorporates integrated weather forecasts to enhance algorithm efficiency and DLI control. When coupled with our wireless solution, helioCORE(TM) allows growers to achieve up to 40% reduction in energy costs, thereby significantly lowering operational expenses. Moreover, the enhanced features render helioCORE(TM) eligible for rebates in specific North American states, effectively reducing investment costs and bolstering ROI for our customers.
In June, our supply chain manager and I embarked on a visit to our production partners and primary component suppliers in
The cost reduction initiative set in motion in Q1 2022 to reduce operational expenditures and streamline production costs has yielded consistent results. When coupled with the reduced production COGS, this has culminated in an improved operating profit of
To secure liquidity in Q1, the
The General Annual Meeting held on
In closing, as we navigate the dynamic landscape of the horticulture lighting market, our steadfast commitment to innovation, customer satisfaction, and strategic partnerships remains unwavering. We are optimistic about the future and the opportunities it holds for
With gratitude,
CEO and Interim CFO
For More Information:
http://www.heliospectra.com
This information is such which
For more information, please visit https://www.heliospectra.com.
Company HELIO is listed at Nasdaq First North Growth Market with
https://news.cision.com/heliospectra/r/heliospectra--publ--publish-the-half-year-report-for-january-to-june-2023,c3823668
https://mb.cision.com/Main/5333/3823668/2252165.pdf
https://mb.cision.com/Public/5333/3823668/80129a61e97ee311.pdf
(c) 2023 Cision. All rights reserved., source