TURNOVER AND PROFIT/LOSS JANUARY – JUNE
· Order intake amounted to 30 309 (18 476) KSEK
· Net sales amounted to 17 324 (11 785) KSEK.
· Operating profit/loss amounted to -16 625 (-18 762) KSEK
· Profit/loss after tax was -16 476 (-18 824) KSEK or -0,47 (-0,54) SEK per share.
January – March
- Canadian cannabis facility deploy Heliospectra LED grow lights for for a customer building a high-performance medicinal cannabis cultivation facility in Eastern Canada. The order for the Heliospectra LX60 intelligent LED lighting solution is valued at SEK 5.5 million (USD $651,200).
- Heliospectra showcased the company’s intelligent lighting solutions, technical services, and new HelioCORE™ light control system at IPM Essen and Fruit Logistica in Berlin.
- AcquiFlow, a value-added reseller, selects Heliospectra Intelligent LED Lighting Solutions to scale cannabis cultivation facilities for leading Canadian licensed producer. The order value is 524 000 SEK (USD $63,547).
- Griffin Greenhouse Supplies, a value-added reseller, secures a large order for Heliospectra LED Lighting Solutions. The order is for the E60 C plate full spectrum series LED grow lights and goes to a New England cannabis cultivation facility. The order value is SEK 5.8 million (USD $698,000).
- Iconic Kew Royal Botanic Gardens retrofits greenhouse with Heliospectra intelligent LED lighting solutions. The new lights will be retrofitted in the Tropical Nursery with the aim to improve plant quality using a more environmentally-friendly lighting solution. The order value is SEK 1.7 million (£ 150,000).
April – June
- Heliospectra AB appoints Magnus Svensson as New Chief Financial officer (CFO), effective May 2nd 2018.
- Griffin Greenhouse Supplies expands controlled environments Aagriculture installation of Heliospectra LED lighting solutions, with a second order for the E60 C plate full-spectrum series LED grow lights. The order value is SEK 4.6 million (USD $549,000).
- Griffin Greenhouse Supplies and the New England controlled environments agriculture installation standardize on Heliospectra LED Lighting with third order for the E60 C plate full-spectrum series LED grow lights. The order value is SEK 5.7 million (USD $686,510).
- Heliospectra officially launches HelioCORE™ as the new light control system becomes avaliable for order.
- 5 Leters DOO secures order for Heliospectra LED Lighting. The order is for additional E60 series LED grow lights as the company scales medicinal cannabis cultivation in Resen, Macedonia. The order value is SEK 1.5 million (USD $179,760).
- ABB and Heliospectra AB join forces in the Middle East and Africa. The companies are joining forces to explore innovative solutions that will boost the productivity and the sustainability of greenhouse and controlled environment agriculture produce industry in the Middle East and Africa.
- Heliospectra AB to introduce next generation lightbar at GreenTech Amsterdam.
- 5 Leters DOO Facility Scales with Heliospectra Lighting Solutions. The second order is for additional E60 series LED grow lights as the company scales medicinal cannabis cultivation in Resen, Macedonia. The order value is SEK 1.5 million (USD $184,560).
- Macedonian Cultivation Facility Standardize on Heliospectra LED Technology. The order is for Heliospectra’s E60 and LX60 LED grow lights and valued at SEK 3.7 million ($432,643 USD).
- Heliospectra annual meeting was held on June 14 2018. Staffan Gunnarsson was appointed new director and Jens Helgesson was elected new deputy director.
Significant events after the period
- Heliospectra Features HelioCORE™ Light Control System and New Series of Lightbars at Cultivate’18 in Columbus, Ohio
- Heliospectra AB Expands Executive Team with Vice President, Sales and Marketing and Vice President, Technical Services. Hanna Rüdel as Vice President, Technical Services and Thorbjörn Leu as Vice President, Sales and Marketing, effective August 2018.
- Ljusgårda AB Invests in Heliospectra’s Innovative LED Lighting Solutions. The company, located in Tibro, Sweden, focuses on sustainable, eco-conscious vertical farming with the goal to produce high-quality vegetables year-round. The order is for Heliospectra’s fully adjustable ELIXIA LED lighting solution and the order value is SEK 1.3 million ($ 143,552).
- 5 Leters DOO in Macedonia builds out their facility and places an additional order on Heliospectra’s EOS series LED grow lights. The order value is SEK 1.6 million (USD $ 179,760).
- Australian cannabis researcher and producer invests in Heliospectra’s innovative LED lighting solutions. The order is for Heliospectra’s fully adjustable ELIXIA LED lighting solution and the order is valued at SEK 660,000 ($ 78,000).
A WORD FROM THE CEO
Dear Heliospectra AB (publ) Shareholder,
There are many positive developments to share with you as Heliospectra continues to execute according to our plan on multiple fronts, from developing new strategic accounts and partnerships to expanding our longtime technology leadership.
Heliospectra’s unique approach to maximizing value by integrating hardware, software control and technical services caused global leader ABB to perceive our company as an ideal market and technology partner. In May, we formally joined forces with ABB to address increasing demand for sustainable agricultural products with new food production and infrastructure technologies. The partnership will initially yield new sales opportunities for both companies and will enable us to provide fully integrated solutions to commercial growers around the world. In the longer term, we’ll introduce technology collaborations that expand upon Heliospectra’s light control and automation platform. In the upcoming periods, I’ll have more news to share with you about our electrification and light installation capabilities and other joint projects.
The HelioCORE™ light management software we released earlier this year is receiving an enthusiastic market response. Our system-based approach to lighting design, customized for each climate and facility, provides growers with unprecedented control over crop yields, cycle times and quality as well as energy consumption. HelioCORE is rapidly changing grower attitudes about what a lighting partner can deliver.
In furthering our strategy to support the full crop lifecycle in large-scale greenhouses, vertical farms and agtech operations, we introduced a new lightbar platform. Based on our R&D team’s decade of work with varied light spectra, the Heliospectra lightbars provide an end-to-end solution from propagation to on-time harvest. This new platform, designed for use in tough commercial environments, is measurably superior to the previous lightbar design it replaced.
To maintain our undisputed quality leadership in the market, parallel initiatives has been underway to improve the design and increase the efficiency of our flagship top lighting platform. The next-generation of our top lights, to be released in Q4, will be much brighter than the previous one and it will follow a modular design and lower production cost.
These advancements expand Heliospectra’s technology leadership both in the most mature horticultural LED lighting market, with high competition from low-cost competitors, and the most high-tech markets, where automated farming is mainstream.
Despite the minor market delays experienced while we invested in upgrading our technology platforms and manufacturing capacities, we improved order intake by 64 percent, net sales by 47 percent and operating loss before tax by 12 percent compared to the same period last year.
I am very pleased to work with shareholders who support our passion for innovation, sustainability, quality and results. As always, I thank you for your steadfast commitment to the Heliospectra vision.
Ali Ahmadian, CEO
Heliospectra AB (publ)
For the complete half Year Report:
The report in its entirety is attached and is available for reading at: http://ir.heliospectra.com/en/reports-downloads/