(GOTHENBURG, Sweden / SAN FRANCISCO, CA, February 23, 2018) – Heliospectra
AB
(publ) (OTCQB: HLSPY, FIRSTNORTH: HELIO), a world leader in intelligent
lighting
technology for greenhouse and controlled plant growth environments,
are today
presenting its Year-End Report for 2017.
Financial
Report
October-December:
· Net sales amounted to SEK 16,489 thousand
(6,864)
· Operating profit/loss was KSEK -7,478 (-12,468), involving a
negative
operating margin (neg)
· Profit/loss after tax was KSEK -7,470
(-15,354) or SEK -0,21 (-0,44) per
share
· Operating cash flow was KSEK -3,556
(-2,009). Total cash flow was KSEK -4,543
(60,556)
January-December:
· Net
turnover was KSEK 36,039 (23,053)
· Operating profit/loss was KSEK -33,089
(-42,784) involving a negative
operating margin (neg)
· Profit/loss after tax
was KSEK -33,171 (-45,763) or SEK -0,94 (-1,30) per
share
· Operating cash flow
was KSEK -29,511 thousand (-39,377). Total cash flow was
KSEK - -32,307
thousand (54,092).
[image]
January – March
· Heliospectra appoints Ali
Ahmadian as CEO. Outgoing CEO Staffan Hillberg
will continue to be involved as
a consultant to Heliospectra.
· Heliospectra makes a presentation in the
Cannabis Investor Webcast January
26, 2017.
· Heliospectra is number 42 on
Deloitte Global’s 2016 Technology Fast 500™
EMEA List of fastest growing
companies.
· TCG Retro Market 1 LLC decides to invest in Heliospectra’s
intelligent LED
lighting. In all, products worth SEK 2.5 million (USD 302,000)
will be installed
by early 2017.
· Heliospectra was selected as a finalist in
the third issue of the Sapphire
Awards in the Horticulture Lighting category.
· MAK North America will open the first licensed cannabis cultivation
for
medicinal purposes in the Republic of Macedonia. MAK North chose to
standardize
the new facility using Heliospectra LED lighting to an initial
value of SEK 1.27
million (USD 143,034).
· Heliospectra appointed Redeye AB
as its new Certified Adviser for Nasdaq OMX
First North effective March 1,
2017.
· The University of Sydney’s Centre for Carbon, Water and Food chose to
invest
in Heliospectra’s intelligent LED lighting to a value of SEK 823,601
(USD
90,800).
· Canada’s Island Garden Inc, a licensed medical cannabis
cultivation on
Prince Edward Island, decided to invest in Heliospectra’s
intelligent LED
lighting to a value of SEK 1,871,186 (USD 208,368). This is the
customer’s
second purchase following an extensive trial period.
April - June
· MAK North America placed a second order for Heliospectra’s LED
lighting
solutions in an order worth SEK 1.5 million (USD 184,560). The lights
will be
used in the first licensed medical cannabis growing installation in
Macedonia.
Delivery is scheduled for the beginning of Q3, and will be reported
in accounts
during Q2 and Q3.
· CORTEX – the market’s leading plant lighting
control system – is launched by
Heliospectra. Heliospectra’s new system
provides growers with more control and
enables the standardization of crop
quality, harvesting cycles and yields.
· Heliospectra books its fifth order
from a global Fortune 500 AgTech company.
The current order is for the
Heliospectra LX60 series, an intelligent LED lamp
that is compatible with the
company’s new Cortex control system. The purchase
shows that the AgTech
industry is quick to adopt innovative IoT technology. The
order, valued at
approximately SEK 4.7 million (USD 539,000), is in addition to
four previous
orders from this customer in 2015 and 2016.
July - September
· Heliospectra
announces an order from TruGanic Hybrid Cultivation. The grower
chose to invest
in Heliospectra’s lighting solutions to achieve consistent
medicinal profiles
and the ability to standardize high crop quality. The order
is valued at around
SEK 790,000 (USD 93,500).
· Heliospectra showcased the company’s new CORTEX
control system at the
Cultivate ‘17 trade fair July 15–18, 2017 in Columbus,
Ohio. Cortex integrates
with Heliospectra’s intelligent LED lighting and light
sensors and offers
commercial growers the industry’s most advanced control
functions for lighting
in farming environments.
· Heliospectra announces an
order from the John Innes Centre in Norwich in the
UK. The order from the John
Innes Centre, an independent international research
center in plant science,
genetics and microbiology, is valued at GBP 92,248 (SEK
1,048,273).
·
Heliospectra announces that a new Fortune 500 Global AgTech-customer
has
selected Heliospectra’s intelligent LED lighting solutions. The order,
valued at
USD 70,000 (SEK 583,333), boosts Heliospectra’s already significant
increase in
its product sales and marketing during 2017.
· Heliospectra
announces a new order from a new farm in Portugal. The indoor
controlled farm
is investing in Heliospectra’s lighting solutions to speed up
harvesting cycles
and increase yields. The order is worth SEK 628,555 (USD
77,500).
· With the
appointment of Peter Nyberg as Head of Technology and Development,
Heliospectra
is expanding its senior management group in order to provide
innovative,
performance-driven lighting solutions to growers worldwide. Peter
joined the
company on August 15, 2017.
· Heliospectra announces an order from its
Italian dealer, Ageon S.r.l.
Delivery will be to Gandini Antonio S.S. in
Northern Italy, one of Italy’s
leading commercial tomato growers. The aim of
the installation is to improve
plant quality and increase yields. The order is
valued at SEK 805,000 (USD
99,000).
· Heliospectra announces a second order
from The Grove, Nevada. The prominent
farming installation in Las Vegas,
Nevada, has standardized on Heliospectra’s
LED lighting solutions and
technology since 2015. Since then, The Grove has
achieved exceptional results
when it comes to accelerating harvests while also
controlling cultivation to
provide consistent medicinal profiles in its cannabis
plants. The order is
worth SEK 1,749,667 (USD 209,960).
· Heliospectra announces a third
order from The Grove, Nevada. Having
standardized on Heliospectra’s LED
lighting solutions and technology in 2015,
The Grove continues to achieve
consistent results and high quality medicinal
cannabis. The new order is valued
at SEK 1,803,109 (USD 224,064) and follows the
expansion of the company’s
commercial farming installation in Nevada.
October - December
·
Heliospectra announces a new collaboration with NYSK Holdings, an
ultramodern
medical cannabis farm in Macedonia. The grower has chosen to
collaborate with
Heliospectra in order to offer patients a product of medicinal
quality for
chronic illnesses. The investment is worth around SEK 1,016,000 (USD
125,000).
· Heliospectra announces an order from Medical 420, a farming installation
in
Macedonia that specializes in growing medicinal cannabis. The installation
is
investing in Heliospectra’s market-leading LED lighting solutions to
improve
quality, accelerate harvest cycles and increase yields. The order is
valued at
SEK 984,000 (USD 117,000).
· Heliospectra announces a new order
from Greenbelt Microgreens. Greenbelt
Microgreens is Canada’s largest producer
of microgreens and has greenhouses in
Ontario and British Columbia. They will
install Heliospectra’s fully
controllable LX50 series with the aim of achieving
continuously high yields and
superior quality all year round. The order is
valued at around SEK 1,000,000
(CAD 151,254).
· Heliospectra will showcase
the company’s intelligent lighting solutions and
new HelioCORE control system
at booth # 3607 at MJ BizCon 15–17 November 2017 in
the Las Vegas Convention
Center, Las Vegas, Nevada.
· Heliospectra is changing the name of its newly
announced CORTEX control
system to HelioCORE™, effective as of November 16,
2017. The new lighting
control system was introduced in July this year and will
be available for
commercial sales during the first quarter, 2018.
·
Heliospectra is proud to announce that it has been ranked as the second
fastest
growing technology company in Sweden in Deloitte’s prestigious
Sweden
Technology Fast 50.
· Heliospectra announces a new order from Sokaogon
Medicinal Corporation (SMC)
in Mole Lake, Wisconsin. Sokaogon Medicinal
Corporation focuses on industrial
hemp cultivation for medicinal use. The order
is valued at SEK 1,984,186 (USD
232,704).
· Heliospectra announces a new
order from the University of Adelaide. The
University’s Waite Campus has
received a major investment to upgrade technology
at their Plant Accelerator®
and have chosen Heliospectra’s LED lighting as a
more sustainable lighting
solution. The order is valued at SEK 909,000 (USD
109,494).
· Heliospectra
announces its sixth order from a global Fortune 500 AgTech
company. The
following order includes Heliospectra’s E60 series, signaling how
leading
AgTech-companies continue to standardize on Heliospectra’s proven
LED
solutions. The order, valued at around SEK 2,723,000 (USD 328,482), is
in
addition to five previous orders from this customer in 2015 and 2017.
·
Heliospectra announces a new order from Revered of Aurora, Colorado.
Revered,
which focuses on both medicinal and recreational products, has been a
leading
company in Colorado’s cannabis market since 2014. It has chosen to
invest in
Heliospectra’s intelligent LX60 LED lighting solution as part of its
continued
expansion and enhanced brand portfolio. The order is worth SEK 741,740
(USD
88,130).
Events since the end of the period
· Heliospectra announces a new
order from a North American dealer. The end
customer, a Canadian grower, is
building an ultramodern, high-performance
medicinal farming installation in
Eastern Canada. The order includes
Heliospectra’s intelligent LX60 LED lighting
solution and is valued at SEK
5,488,411 (USD 651,200).
· Heliospectra will
showcase its intelligent lighting solutions, engineering
services and new
HelioCORE control system at IPM Essen at stand #7A27, January
23–26 in Essen,
Germany. Heliospectra will also be at the upcoming Fruit
Logistica exhibition,
February 7–9 in Berlin, Germany, this time in hall 8.1,
stand #B-16.
CEO’s
Comments
Dear Shareholders of Heliospectra AB (publ),
At the beginning of
2017, we set about transforming different aspects of
Heliospectra’s business to
deliver customer and investor rewards over the short-
and long-term. We now
reflect on these decisions with pride in our achievements
and determination to
press on. In executing against our new strategy, we made
measurable strides
in
increasing earnings, expanding our market leadership and improving
operational
performance.
Among our first strategic initiatives was to clarify
and highlight the value
proposition of our lighting solutions well beyond
electrical cost reduction. Now
more and more growers understand that the
Heliospectra solution empowers them to
increase yield, control
product
consistency and accelerate harvest cycles while they improve quality
and
minimize crop waste. Over the past year, I particularly enjoyed meeting
with our
grower customers around the world. A common theme of our discussions
was the
great appreciation growers have for the financial value delivered
by
Heliospectra products and our commitment to providing expertise and
solutions
that precisely fit their needs. This validates our decision to put
growers
rather than products at the center of our focus across business
units.
Accordingly, Heliospectra delivered strong earnings growth and
maintained this
momentum during the last three quarters of 2017. Key metrics
including order
intake and revenue grew by 93% and 56%, respectively, compared
to 2016. Our
remarkable growth, which was primarily fueled by projects in the
United States
and Canada, is also the result of new organizational and
operational synergies
achieved by applying both our local and global expertise
to strengthen customer
offerings.
Aligned with our strategy to strengthen
market share among food growers, we
secured contracts with leading producers of
salad greens and vine crops. At the
same time, we expanded our customer
portfolio in burgeoning segments including
medical and research crop
production. During 2017 we responded to strong demand
from ag-tech companies,
who readily grasp our product line’s unique value
proposition for supporting
their research and intellectual property
advancements.
Continuing our own
tradition of innovation, in the third quarter we introduced
HelioCORE as the
first and only light control solution to enable growers to
forecast quotas,
standardize production and increase year-round yields through
improved
connectivity. This breakthrough technology is our response to
growers’
expressed need to improve their business performance and gain
negotiating
advantages in the marketplace. HelioCORE has received great
interest from
growers around the world and we are excited to officially launch
the product end
of quarter one 2018.
Additionally, we readied Heliospectra
Technical Services for launch in January
2018 to enable growers to more rapidly
achieve their production and business
goals. A sampling of these turnkey
services includes customized light strategies
and speed-breeding trials to
accelerate crop performance enhancement as well as
didactic and hands-on
training in the effective use of smart lighting.
Even while growing our
business and expanding our customer offerings, we reduced
operational costs by
12% by improving productivity, efficiency, and operational
control. Despite
macroeconomic challenges, such as unfavorable currency exchange
rates in key
markets, we improved our bottom line by 23%. For the first time, we
took
significant steps toward a more positive EBITDA compared to prior
years.
Looking ahead, I view 2018 with confidence supported by our
highest-quality
product line and proven track record of improving business
performance. Through
the ongoing development and delivery of market-leading
solutions and services
that directly address grower needs, we will continue to
strengthen
profitability. Heliospectra is now well positioned to achieve its
vision, thanks
to the strategic changes we implemented in 2017.
In closing, I
would like to express my gratitude to our team and stakeholders
for their
important contributions throughout the year. With your steadfast
support, we
will continue our evolution into the horticultural lighting
industry’s most
dominant and value-driven company.
Ali Ahmadian, CEO
Heliospectra AB
(publ)
To read the full report visit:
http://ir.heliospectra.com/en/reports-downloads/
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
http://www.heliospectra.com
About
Heliospectra
Heliospectra AB (publ) (OTCQB: HLS, FIRST NORTH: HELIO) is the
industry’s most
proven intelligent lighting technology for greenhouse and
controlled plant
growth environments. With the vision to make commercial crop
production more
connected and resource-efficient, growers and commercial
producers across six
continents use Heliospectra holistic and flexible
solutions to consistently
increase yields while producing crops that achieve
quality appearance, superior
nutritional or medicinal value and longer shelf
life, harvest after harvest.
Founded in 2006 and winner of multiple
international awards and recognitions,
Heliospectra has raised more than $32
million in capital to date. As a publicly
traded company, the majority
ownership remains with some of Heliospectra
earliest investors
Weland
Steel (http://t.sidekickopen04.com/e1t/c/5/f18dQhb0S7lC8dDMPbW2n0x6l2B9nM
JW7t5XZs
2BV
-_0W63RPdq3MPjhxW7dSptd56dxyQf33MmMn02?t=http://www.welandstal.se/&
si=52709545963
68384&pi=f77dbd06-3b42-4b0e-b9fe-aa841ee35573),
Swedish
Industrial
Fund (http://t.sidekickopen04.com/e1t/c/5/f18dQhb0S7lC8dDMPbW2n0x6l2B
9nMJW7t5XZs2
BV
-_0W63RPdq3MPjhxW7dSptd56dxyQf33MmMn02?t=http://www.industrifond
en.se/&si=5270954
596368384&pi=f77dbd06-3b42-4b0e-b9fe-aa841ee35573)
and Midroc
New
Technology (http://t.sidekickopen04.com/e1t/c/5/f18dQhb0S7lC8dDMPbW2n0x6l2B9
nMJW7
t5XZs2BV
-_0W63RPdq3MPjhxW7dSptd56dxyQf33MmMn02?t=http://www.midroc.se/&si
=527095459636838
4&pi=f77dbd06-3b42-4b0e-b9fe-aa841ee35573).
For more information, please
visit
https://www.heliospectra.com.
Forward-Looking Statements
The statements
in this press release constitute forward-looking statements
within the meaning
of federal securities laws. Such statements are based on our
current beliefs
and expectations and are inherently subject to significant
business, economic
and competitive uncertainties and contingencies, many of
which are beyond our
control. In addition, such forward-looking statements are
subject to
assumptions with respect to future business strategies and decisions
that are
subject to change. Potential risks and uncertainties include, but are
not
limited to, technical advances in the industry as well as political
and
economic conditions present within the industry. We do not take any
obligation
to update any forward-looking statement to reflect events or
developments after
a forward-looking statement was made.
This information is
information that Heliospectra AB (publ) is obliged to make
public pursuant to
the EU Market Abuse Regulation. The information was submitted
for publication,
through the agency of the contact person set out above, at
08.10 CEST / 3.10 AM
EST on February 23, 2018.
|