Heliospectra (HELIO) Q4 2024 earnings summary

Executive summary

• Established new office in Breda, Netherlands, to strengthen presence in key European greenhouse markets and support commercial expansion.

• Achieved significant increase in annual order intake to 42,303 TSEK, up from 28,056 TSEK in 2023, despite Q4 order intake falling short of expectations.

• Launched new product innovations, including high-wattage MITRA X LED solutions and multi-channel lighting systems, targeting greenhouse and Agtech segments.

• Strengthened team with key hires and partnerships, enhancing technical and agronomic expertise.

Financial highlights

• Net sales for 2024 amounted to 32,411 TSEK, slightly below 35,311 TSEK in 2023, mainly due to delayed large greenhouse projects.

• EBITDA for 2024 was -19,555 TSEK (2023: -19,728 TSEK); operating income (EBIT) was -22,327 TSEK (2023: -23,608 TSEK).

• Result after tax for 2024 was -23,544 TSEK, compared to -24,695 TSEK in 2023.

• Cash flow from operations was -26,741 TSEK; period-end cash position was 1,434 TSEK (2023: 8,492 TSEK).

• Other income increased significantly due to a 9 MSEK state loan being converted to a grant and a 1.1 MSEK Vinnova grant.

Outlook and guidance

• Entering 2025 with a strong order backlog, a solid product portfolio for the greenhouse segment, and a focus on commercial expansion and cost efficiency.

• Ongoing capital raise and strengthened liquidity position support continued investments and growth initiatives.

• Focus for 2025 is on commercial expansion, sales, and marketing, especially in the greenhouse sector.