SAMENVATTING EINDEJAARSVERSLAG 2019
Orders during the period of October-December amounted naar KSEK 97 334. In this amount the earlier communicated orders from Nectar Farms, 72 million SEK, and from Bridge Farm Group, 12 million SEK regarding the company’s new product range MITRA, are included.
SALES AND FINANCIAL PERFORMANCE, OCTOBER – DECEMBER
Net sales amounted naar KSEK 2 784 (11 083). The operating loss amounted naar KSEK -18 502 (-12 020) KSEK, signifying a negative operating margin (neg). The loss after tax was KSEK -18 514 (-12 030).
SALES AND FINANCIAL PERFORMANCE, JANUARY- DECEMBER
Net sales amounted naar KSEK 25 530 (45 370). The operating loss amounted naar KSEK -55 545 (-33 251) KSEK, signifying a negative werking marge (neg). The loss after tax was KSEK -51 677 (-33 303).
CASH FLOW, JANUARY – DECEMBER
De kasstroom uit bedrijfsactiviteiten bedroeg KSEK 47 559 (-25 588). De totale kasstroom bedroeg KSEK 43 078 (-29 468).
CEO COMMENTAAR
The first three quarters van 2019 were dedicated naar rebuilding Heliospectra's product portfolio, which came with anticipated challenges. But the re-build also brought tremendous oppor- tunities. With the support van our shareholders and the dedica- tion van our team, we emerged from Q4 in a growth trajectory, with strong global momentum for 2020 and the future.
We were aware dat onze product portfolio re-build zou come with short-term risks naar our order intake and sales. We did this with the full support van the board, in order naar prioritize our long-term markt position and leadership. In 2019 we experi- enced a 44% drop in sales revenue, from SEK 45,4 million in 2018 naar SEK 25,5 million in 2019, as we re-evaluated our goals, changed our strategy and positioned ourselves better in the industry for the future. We were almost immediately rewarded voor our efforts, when wij introduced onze nieuw product line MITRA in June and received two large orders totalling SEK 84 million, which zijn expected naar be delivered in 2020.
One van our most notable successes was a sizable MITRA order from Nectar Farms in Victoria, Australia. We had been working closely with Nectar for three years, and their ambition had always been naar find a partner, not a supplier voor their glass-
house projects groeiend tomatoes. Their values van sustainable farming and clean renewable energie match our own, and we are very happy they chose naar work with us. We zijn a company that has been driving green technology and solutions for resource-efficient food production, and this project goes a step further by using clean electricity based on wind power.
Nectar Farms’ order value is SEK 72 million, which includes a down payment van 50 percent. While the down payment was expected in Q4 2019, het zal be deferred naar 2020 due naar a fi- nancing delay. This does not interfere with the project going forward but simply delays it for a few months.
We will continue naar develop our control and automation plat- form, helioCORE. As growers automate and connect groeiend environments, HelioCORE ensures they bereiken consistent, high-quality crops 365 dagen a year. We zijn seeing a lot of interest in this product from customers, and we are making it more stable and user-friendly, while continuing our strategy van integrating it, as much as possible, with all the other control and automation platforms in the industry. The future is here, wij have fantastic solutions, and our mandate is naar gain markt share this year.
Over the past two years, we had a good grip on costs, doing more with less, and now what is needed is naar make our solu- tions beschikbaar naar a larger audience. Going forward, our focus zal be on our frontline sales and marketing. Establishing ourselves in Canada and putting a strong team in place in North America zal help us kweken further. Many innovative projects, both in food and in medical cannabis, zijn happening in North America, so establishing a solid presence in this markt has been a valuable investment van our time and effort. We want naar do our products justice.
Thank you for all your steadfast support. 2020 represents a year van tremendous opportunity and global momentum.
We zijn voortdurend gefocust op het leveren van bedrijfswaarde en
profitability naar our customers around the world as well as naar you, our shareholders. As always, I thank you for your un- wavering commitment naar the Heliospectra vision: to make sustainable food production beschikbaar naar an increasingly ur- banized population.
// Ali Ahmadian
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