Heliospectra (HELIO) Q2 2024 earnings summary

Executive summary

• Q2 2024 saw significant product development, including enhancements to the MITRA X platform and new ELIXIA and DYNA fixtures, plus a new partnership with Tomatoworld for collaborative field tests and sustainability initiatives.

• Participation in major industry events and the launch of the 1500W MITRA X LED light and helioSENSE biosensor previewed for 2025.

• Opened a new office in Breda, Netherlands, to strengthen presence in the Dutch horticulture market.

Financial highlights

• Q2 2024 order intake was SEK 8.1 million, with total order intake for Jan–Jun 2024 at SEK 34.9 million, surpassing the full year 2023.

• Net sales for Q2 2024 were SEK 4.4 million, down from SEK 10.1 million in Q2 2023, mainly due to production delays and late orders.

• Operating profit for Q2 2024 was SEK 2.1 million, a turnaround from a loss of SEK -4.7 million in Q2 2023, driven by a SEK 9 million government loan converted to a grant.

• Cash at period end was SEK 7.9 million, with operating cash flow for Jan–Jun 2024 at SEK -0.2 million.

Outlook and guidance

• Anticipates strong sales in Q3 2024 as delayed shipments are fulfilled and new products are released.

• Expects growth in the second half of 2024, driven by new product launches and deepening customer relationships.

• Focus remains on expanding strategic partnerships and supporting future growth with an expanded team.