Heliospectra (HELIO) Q2 2025 earnings summary

Executive summary

• Commercial foundation and innovation roadmap strengthened, but sales growth slower than expected due to delayed greenhouse projects and market uncertainty from changing import duties.

• Agtech segment performed strongly, maintaining steady global sales and building long-term customer relationships.

• Expanded pipeline, increased market visibility, and new customer wins, including a significant Ontario order and repeat Canadian orders, support future momentum.

• Management team strengthened with key hires, notably in the Netherlands, to support European growth.

Financial highlights

• Q2 2025 order intake: SEK 10,650 thousand (up from SEK 8,076 thousand in Q2 2024).

• Q2 2025 net sales: SEK 7,289 thousand (up from SEK 4,402 thousand in Q2 2024); H1 2025 net sales: SEK 9,190 thousand (down from SEK 11,600 thousand in H1 2024).

• Q2 2025 operating profit: SEK -8,589 thousand (down from SEK 2,054 thousand in Q2 2024); H1 2025 operating profit: SEK -17,597 thousand (down from SEK -4,505 thousand in H1 2024).

• Q2 2025 result after tax: SEK -8,904 thousand (down from SEK 2,050 thousand in Q2 2024); H1 2025 result after tax: SEK -17,913 thousand (down from SEK -4,507 thousand in H1 2024).

• Cash at period end: SEK 14,092 thousand (up from SEK 7,856 thousand in 2024).

Outlook and guidance

• Larger greenhouse projects expected to be recognized as sales in H2 2025, supporting improved performance.

• Trials with major North American growers planned for fall and winter 2025 to validate solutions and drive future growth.

• Margins expected to normalize at a lower level as greenhouse projects are recognized, but offset by stronger purchasing power and lower component costs.