(GOTHENBURG, Sweden, Feb 23, 2024, at 08:30 CET)– Heliospectra AB (publ), a leader in intelligent lighting technology for greenhouse and controlled plant growth environments, presents its Year-End Report for 2023.
Het volledige rapport is bij dit persbericht gevoegd en kan ook worden geüpload op https://heliospectra.com/investor-relations/financial-reports-documents/reports/.
SAMENVATTING VAN VERSLAG
Sales and financial performance October – December 2023
- De inkomende bestellingen tijdens de periode bedroegen SEK 9,377 (12,677) duizend.
- Net sales during the period amounted to SEK 9,908 (9,998) thousand.
- Operating results during the period amounted to SEK -7,605 (-8,950) thousand.
- De winst na belastingen bedroeg SEK -7,312 (-9,075) duizend.
Sales and financial performance January – December 2023
- De inkomende bestellingen tijdens de periode bedroegen SEK 28,056 (34,423) duizend.
- Net sales during the period amounted to SEK 35,311 (25,728) thousand.
- Operating results during the period amounted to SEK -23,608 (-35,943) thousand.
- De winst na belastingen bedroeg SEK -22,688 (-36,083) duizend.
Kasstroom January – December 2023
- De bedrijfskasstroom bedroeg SEK -25,101 (-33,848) duizend.
- Total cash flow was SEK -4,843 (2,762) duizend.
- Cash equivalents at the end of the period were SEK 8,642 (13,485) duizend.
CEO COMMENTAAR
Geachte aandeelhouders,
Als we terugblikken op 2023, dan zien we dat dit een bepalende periode is geweest voor ons verdere traject. Als we 2024 binnenstappen, doen we dat met vertrouwen, verankerd door een stabiel productplatform voor zowel commerciële grootschalige kassen als ons dynamische Agtech-segment.
While our journey in 2023 didn't precisely align with the ambitious budgetary goals we had set, I am pleased to announce that our net sales improved by 37% compared to the previous year, despite market challenges and a competitive landscape. Throughout the year, we faced several obstacles, including inflation, higher interest rates, reduced energy prices, and a delayed subsidizing program in the Netherlands. These challenges contributed to an estimated decline in the horticulture lighting market of up to -40% to -50% compared to 2022. Consequently, many of our commercial growers and customers postponed their investments to the following year or opted for smaller test trials.
Despite this, we managed to win three tenders with leading technical Universities in Denmark and the USA and establish sales and trials with well-known growers in Europe and Canada within young plants and ornamentals, including Queens, Hendriks Young Plants, Sakata, Hendriks Greenhouses, Feldborg, and Glenwood Walley Farms. We also expanded our network in the industry, providing us access to quote on more significant projects and expanding our pipeline. Looking ahead to 2024, we, therefore, anticipate a shift in our portfolio towards larger greenhouse initiatives. This strategic pivot positions us for continued success and growth in the coming year.
The momentum from 2023 carries forward into the new year, as evidenced by our proactive approach to sales and marketing. Already in 2024, we've participated in two prominent trade shows: IPM Essen in Essen, Germany, and Fruit Logistica in Berlin, Germany, with plans to exhibit at Horticontact in Groningen, Netherlands, in March. In Q1 this year we have also established our new Dutch office. These engagements signify our commitment to solidifying our presence in key markets and fostering meaningful connections with industry stakeholders.
Throughout 2023, our focus remained steadfast on developing innovative, customer-centric solutions. We introduced groundbreaking products such as the MITRA X Flex, a three-spectrum-in-one solution with flexible far-red, DOXA, our wireless PAR sensor, and an enhanced version of our control system – helioCORE 2.0. This version offers a more user-friendly interface with drag-and-drop features, real-time weather forecasts, dynamic zoning and dimming capabilities, along with new data-overview and safeguard features— an offering unique to Heliospectra in the market.
Building on this foundation, we're excited to unveil our latest offerings: the new ELIXIA and DYNA platforms, our fully controllable solutions, set for full launch in April/May. Both will feature significant improvements in IP rating, output, and efficacy, with the ELIXIA fixture now offering an additional wavelength, increasing from 4 to 5 wavelengths. The new platform allows us to maintain our relevancy and strong brand in the research market while also improving our solution towards, for example, seed producers and research greenhouses.
Additionally, our development team has recently unveiled advancements to our MITRA X platform, making the platform fully modular and allowing us to cater to diverse environments and crops. The platform now comes with a wattage ranging from 325W to 1500W, a comprehensive spectrum portfolio ranging from 40% red to 90% red, a Flexible spectrum alternative, an efficacy of up to 3.7, and an output of up to 5700 µmol. This, combined with our Swedish craftsmanship, use of only A-brand components, and unique dynamic solutions, provides growers with market-leading quality against a very competitive cost per mmol!
Onze kostenbesparende initiatieven, gelanceerd in 2022, hebben aanzienlijke voordelen opgeleverd. Door onze afhankelijkheid van externe adviseurs te minimaliseren en interne middelen te optimaliseren, konden we onze andere externe kosten verlagen met SEK 14,4 miljoen, wat neerkomt op een opmerkelijke daling van 43% in 2023. Daarnaast droegen voorzieningen die opzij waren gezet voor mogelijke RMA-zaken bij aan deze kostenverlaging, waarbij een deel van de toegewezen middelen ongebruikt bleef. In het eerste kwartaal van 2024 hebben we de laatste fase van ons kostenbesparingsprogramma succesvol afgerond door ons kantoor in Göteborg te verhuizen, wat resulteerde in een verlaging van de huurkosten met 50%.
This, coupled with the increase in net sales, drove a notable improvement of SEK 12.3 million or 34% in operating results compared to the previous year. This achievement is a testament to our team's diligent efforts, sales improvements, and the efficacy of our cost-saving and restructuring initiatives. Importantly, we have maintained a healthy margin on our products throughout this period of growth and transformation.
As we embark on this journey into 2024, I extend my heartfelt gratitude for your unwavering support and trust in Heliospectra, especially our 3 main shareholders, Weland Weland Stål AB, Agartha AB, and Corespring New Technology AB. Together, we are poised to capitalize on emerging opportunities, overcome challenges, and propel our company to new heights of success.
Met dankbaarheid,
Bonny Heeren,
CEO en interim-CFO
Heliospectra AB