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Classified in: Science and technology, Business
Subject: ERN

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


STOCKHOLM, April 26, 2019 /PRNewswire/ -- Heliospectra AB (publ) (OTCQB: HLSPY) (FIRSTNORTH: HELIO), a world leader in intelligent lighting technology for controlled environments horticulture, today present their Interim Management Statement for January to March 2019.

Turnover and Profit/Loss January ? March

Order intake amounted to SEK 12,309 (12,118) thousand

Net sales amounted to SEK 9,657 (9,374) thousand

Operating profit/loss amounted to SEK -9,429 (-6,786) thousand 

Profit/loss after tax was SEK -9,483 (-6,799) thousand or SEK -0.27 (-0.19) per share

Significant Events

January - March

Significant Events After the Period

CEO Comment

Dear Heliospectra AB (publ) Shareholder,

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.

Our lighting solution innovation initiatives are concentrated on three key areas; greenhouse cultivation solutions, commercial solutions for vertical farming, and our control and automation software platform - helioCORE. These core areas are where market demand is highest and where we believe we can maintain and increase our frontline position with respect to providing our growers with fully integrated solutions. The outcome of these development projects will be reported in the coming two quarters.

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% for continued product development in vertical farming.

As to the financial result of the first quarter of 2019, the revenue intake and Gross Profit trend were on par with the result last year. Our operating results decreased by 39%, due mostly to our investment in expansion. These efforts were initiated during the third quarter of 2018.

Our objective in 2019 is to continue our growth strategy by providing undisputed market-leading quality leadership, deliver world-class customer service, and relentlessly improve business performance. With this mission firmly in mind, we believe our innovation and vision will continue to propel Heliospectra through the coming quarters.  

Ali Ahmadian, VD
Heliospectra AB (publ)
For the full report go to: http://ir.heliospectra.com/en/reports-downloads/
Gothenburg 2019-04-26

Investor Relations:

Ali Ahmadian
CEO of Heliospectra
+46 (0)72 203 6344
ir@heliospectra.com

Redeye is Heliospectra Certified Advisor for Nasdaq First North -www.redeye.se
Certifiedadviser@redeye.se | +46 (0)8-121-576-90

http://www.heliospectra.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/heliospectra/r/heliospectra-ab--publ--interim-management-statement-january---march-2019,c2797539

The following files are available for download:

https://mb.cision.com/Main/5333/2797539/1032499.pdf

PDF

https://news.cision.com/heliospectra/i/financial-report-q1-2019-heliospectra,c2616294

Financial Report Q1 2019 Heliospectra

https://mb.cision.com/Public/5333/2797539/9aa0ea704c7200c0.pdf

Interim report JAN - MAR 2019

 

 

SOURCE Heliospectra


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News published on 26 april 2019 at 02:39 and distributed by: