Heliospectra (HELIO) Q1 2025 earnings summary

Executive summary

• Net sales for Q1 2025 were SEK 1.9 million, a significant decline year-over-year, reflecting a cautious market, delayed greenhouse order deliveries, and economic and political uncertainty, including tariffs.

• The company completed its transitional phase, establishing a lower cost base, a competitive product portfolio for Agtech and Greenhouse segments, and a new sales team in the Netherlands.

• Customer engagement and project momentum are increasing, with major Canadian orders totaling SEK 8.8 million expected to be recognized in Q3 2025.

Financial highlights

• Q1 2025 order intake was SEK 3.1 million, down from SEK 26.8 million in Q1 2024, with net sales at SEK 1.9 million versus SEK 7.2 million year-over-year.

• EBITDA for Q1 2025 was SEK -8.1 million (Q1 2024: SEK -5.9 million); operating profit was SEK -9.0 million (Q1 2024: SEK -6.6 million).

• Cash flow for the period was SEK 23.5 million, with cash at period end of SEK 24.9 million, up from SEK 4.7 million a year earlier, mainly due to a rights issue.

• Equity increased to SEK 24.5 million (Q1 2024: SEK 5.0 million); equity/assets ratio improved to 46% from 11% year-over-year.

Outlook and guidance

• Investments in product, partnerships, and personnel are expected to drive revenue growth as the year progresses.

• Orders from Canadian customers totaling SEK 8.8 million are anticipated to be recognized in Q3 2025.

• The company is confident in its strengthened financial foundation and strategic direction for growth.