Heliospectra (HELIO) Q3 2024 earnings summary

Executive summary

• Achieved significant growth in order intake, reaching SEK 38.6 million for Jan–Sep 2024, more than double the same period last year, driven by large Canadian greenhouse projects and steady Agtech demand.

• Net sales for Jan–Sep 2024 were SEK 25.9 million, slightly above last year, but below expectations due to staged project deliveries and minor delays.

• Major greenhouse installations completed in Canada and the Netherlands, expanding market presence and showcasing full system solutions.

• Strengthened commercial team with new hires and opened a Dutch office to support growth in key European markets.

Financial highlights

• Order intake Jan–Sep 2024: SEK 38.6 million (2023: SEK 18.7 million); Q3 order intake SEK 3.7 million (2023: SEK 7.5 million).

• Net sales Jan–Sep 2024: SEK 25.9 million (2023: SEK 25.4 million); Q3 net sales SEK 14.3 million (2023: SEK 8.3 million).

• Operating profit Jan–Sep 2024: SEK -9.2 million (2023: SEK -16.0 million); Q3 operating profit SEK -4.7 million (2023: SEK -4.9 million).

• EBITDA Jan–Sep 2024: SEK -7.2 million (2023: SEK -13.7 million); Q3 EBITDA SEK -4.0 million (2023: SEK -4.1 million).

• Cash at period end: SEK 7.2 million; equity at period end: SEK 12.3 million.

Outlook and guidance

• Focused on leveraging recent installations and product innovation to drive growth in Q4 and 2025.

• Anticipates closing larger projects for the 2025 lighting season, especially with the MITRA X line.

• Increased order intake and advance payment terms expected to strengthen liquidity in the coming period.