Heliospectra (HELIO) Q4 2024 earnings summary

Executive summary

• 2024 marked a transformative year with increased commercial activities, product innovation, and strategic market expansion, despite challenges in large-scale greenhouse projects and lower-than-expected Q4 order intake.

• The company strengthened its position in the Agtech and greenhouse segments, launched new products, and established a new office in Breda, Netherlands.

• Key hires and partnerships, including with plant specialists and technology experts, enhanced expertise and market reach.

Financial highlights

• Full-year order intake rose to SEK 42,303 thousand from SEK 28,056 thousand in 2023, despite Q4 order intake dropping to SEK 3,695 thousand from SEK 9,377 thousand in Q4 2023.

• Net sales for 2024 were SEK 32,411 thousand, down from SEK 35,311 thousand in 2023.

• Operating profit for 2024 was SEK -22,327 thousand, a slight improvement from SEK -23,608 thousand in 2023.

• Cash flow for the year was SEK -7,058 thousand, with cash at year-end at SEK 1,434 thousand.

• Other income increased due to a SEK 9 million government loan converted to a grant and SEK 1.1 million in development grants.

Outlook and guidance

• The company enters 2025 with a strong product portfolio, order backlog, and a focus on commercial expansion and cost efficiency.

• Planned investments and expansion are supported by a fully secured rights issue of SEK 25.6 million to be completed by end of Q1 2025.

• Emphasis on accelerating sales and marketing, especially in the commercial greenhouse sector.