Heliospectra AB (publ) Interim Management Statement January – March 2019

Turnover and Profit/Loss January – March

De orderontvangst bedroeg SEK 12.309 (12.118) duizend.

De netto-omzet bedroeg SEK 9.657 (9.374) duizend.

De bedrijfswinst/het bedrijfsverlies bedroeg SEK -9.429 (-6.786) duizend 

Profit/loss after tax was SEK -9,483 (-6,799) thousand or SEK -0,27 (-0,19) per share

Belangrijke gebeurtenissen

january – march

•  Heliospectra’s helioCORE™ light control system recognized by the American Society of Agricultural and Biological Engineers with a 2019 AE50 Award.
•  Heliospectra’s technical services portfolio re-branded under helioCARE™.
•  Leading European Research Facility Invest in Heliospectra’s LED Lighting Solutions. The research company is expanding its greenhouse production and has placed an order for Heliospectra’s fully adjustable ELIXIA LED lighting solution. The order value is SEK 2,0 million (€ 189,000).
•  Heliospectra AB’s Year End Report was published 22 Februari 2019.
•  Heliospectra carries out rights issue and obtain bridge financing. the Company’s Board of Directors proposes a new share issue of approximately SEK 52.7 million with preferential rights for existing shareholders.
•  Oproep tot het bijwonen van de extra gewone algemene vergadering van Heliospectra AB is gepubliceerd op 22 februari.
•  Extra gewone vergadering werd gehouden op 12 maart 2019 in Hotel Riverton op Stora Badhusgatan 26, 411 21 in Göteborg. De beslissing werd genomen om een claimemissie uit te voeren en een nieuw incentive programma te introduceren voor aandelenwarrants voor senior leidinggevenden en personeel op sleutelposities.
•  Hans Naess benoemd tot nieuwe CFO van Heliospectra AB. Hans fungeerde als interim CFO sinds 24 september 2018. Hij begon zijn rol als CFO op 1 maart 2019.
•  Publication of Heliospectra AB’s prospectus in regard to the right issue was made on February 22, 2019.
•  Heliospectra AB expands North America markets with formation of Heliospectra Canada, Inc in Toronto, Canada. The Company also continues to scale Heliospectra’s executive leadership, sales and technical services teams with business units dedicated to commercial food producers and licensed commercial cannabis operations in both the United States and Canada.
• Ljusgårda AB continues expansion with investment in Heliospectra’s innovative LED lighting solutions with additional orders of Heliospectra’s fully adjustable ELIXIA LED lighting solutions. The order value is SEK 5.7 million (USD $ 611,450).

Commentaar CEO

Geachte Heliospectra AB (publ) Aandeelhouder,

As part of Heliospectra’s continued strategic expansion, our first quarter efforts have focused on responding to solid market-driven demands. As a result, we are advancing with organic and radical innovations in our lighting solutions and continue to invest in our market presence initiatives.
Onze innovatie-initiatieven op het gebied van lichtoplossingen zijn geconcentreerd op drie kerngebieden: kaskweekoplossingen, commerciële oplossingen voor verticale kweek en ons besturings- en automatiseringssoftwareplatform - helioCORE. Deze kerngebieden zijn waar de marktvraag het grootst is en waar we naar onze mening onze leidende positie kunnen behouden en vergroten met betrekking tot het leveren van volledig geïntegreerde oplossingen aan onze telers. De resultaten van deze ontwikkelingsprojecten zullen in de komende twee kwartalen worden gerapporteerd.
With respect to expansion into new markets, this quarter we have launched Heliospectra Canada inc.,
based in Toronto, Ontario. We continue to build localized, professional teams that will be based closer to our customers’ sites and share Heliospectra’s technical prowess and horticulture expertise with growers and cultivators directly. Part of our decision to open Heliospectra Canada Inc. was to respond to growing demand from licensed producers of cannabis in Canada and address their needs for high-tech and data-driven production facilities with our intelligent and integrated lighting solutions. The legalization act by Canadian federal and provincial governments has created an industry that is expected to generate more than seven billion dollars of revenue in 2019 and considering the high demand for our holistic lighting solutions, including our helioCORE and helioCARE products, we will continue to be at the forefront of this growing Canadian marketplace.
To finance these efforts, we performed a successful rights issue resulting in a capital increase of 52,7 MSEK before deduction of transaction costs. The subscription rate was 76% whereby the guarantors Weland Group and Midroc New Technology increased their ownership positions to 39% and 11,5% respectively. Going forward, approximately 30 percent of the proceeds are intended to be used to further strengthen the Company’s financial position while the remaining capital is intended to be placed against the following prioritized objectives:

• 40% of the funds will be used for strategic repositioning of the business and expand the company’s addressable market and stabilize future cash flows. This will be achieved through licensing fees of the

helioCORE control system while offering customers the benefits of the technology and expertise of helioCARE.

• 20% will be used to showcase the new business model through reference cases with strategic customers, primarily in the food sector

• 10% voor verdere productontwikkeling in verticale landbouw.

Wat het financiële resultaat van het eerste kwartaal van 2019 betreft, lagen de inkomsten en de brutowinst op hetzelfde niveau als vorig jaar. Onze bedrijfsresultaten daalden met 39%, voornamelijk als gevolg van onze investeringen in expansie. Deze inspanningen werden opgestart tijdens het derde kwartaal van 2018.
Ons doel in 2019 is om onze groeistrategie voort te zetten door onbetwist marktleiderschap op het gebied van kwaliteit te bieden, klantenservice van wereldklasse te leveren en de bedrijfsprestaties voortdurend te verbeteren. Met deze missie in gedachten geloven we dat onze innovatie en visie Heliospectra de komende kwartalen zullen blijven voortstuwen.  

Ali Ahmadian, VD

Heliospectra AB (publ)

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Ga voor het volledige rapport naar: http://ir.heliospectra.com/en/reports-downloads/

Gothenburg 2019-04-26