(GOTHENBURG, Sweden/SAN FRANCISCO, CA, Aug 23, 2019 –
Heliospectra AB (publ) (OTCQB: HLSPY, FIRSTNORTH: HELIO), a world leader in intelligent lighting technology for greenhouse and controlled plant growth environments, today presents the Half Year Report for 2019.
TURNOVER AND PROFIT/LOSS JANUARY – JUNE
JANUARY - MARCH
APRIL – JUNE
SIGNIFICANT EVENTS AFTER THE PERIOD
Dear Heliospectra AB (publ) Shareholder,
We are six months into a critical year for Heliospectra. 2019 represents a year of tremendous opportunities, global momentum, and a year for Heliospectra to scale our partnerships, our product portfolio, and our production capabilities.
In mid-2018, we realized that our lights and solutions platform needed to be revamped and we were required to move in a very new and strategic direction from the original platform designed in 2014. Bearing in mind that this new direction would impact our orders and sales figures in 2019, the decision was made to launch a new platform with the ambition of optimizing CAPEX on new customer installations and introducing the most powerful LED lighting solution on the market. As a direct consequence of the decision to prioritize our new product roadmap and development, the opportunity to reinvent and reinvigorate our legacy product offerings, did affect our sales and order intake which slowed by 3% and 40% respectively compared to the previous year.
Now offering the strongest controllable light output in the horticultural LED market with an efficacy of up to 2.9 µmols/J, MITRA gives growers and operations teams the only modular design with multiple spectrum options to achieve the highest crop quality and performance in a cost-effective way. With the production ramp-up expected during October 2019, the rewards from this change will be visible in Q4.
Moreover, the above exercise and the ability to work with a tier 1 supplier in Sweden has enabled Heliospectra to advance its collaboration with our largest customers to design products that better meet the requirements of their facilities.
Building on our strategic partnership initiatives, we spent a lot of time in the second quarter of 2019 strengthening our collaboration with ABB by hosting workshops at our Gothenburg headquarters with the participation of ABB experts from all around the world. The co-development of innovative electrification systems, control and automation technologies will enable us to offer highly customized solutions to our existing customers and to our new prospects.
Furthermore, we continued with our expansion plan and ambition for a local market presence by establishing offices in Toronto, Canada and Tokyo, Japan during the past two quarters. The ability to have our executives on the ground in each of these markets and talking with prominent Japanese vertical farmers and plant factory leaders as well as Canada’s largest greenhouse vegetable growers and commercial cannabis producers represents a tremendous opportunity for Heliospectra in 2019 and in the coming years.
In conclusion, I would like to express my gratitude for your steadfast support. We will continue our evolution into the horticultural lighting industry's most dominant and value-driven company.
Ali Ahmadian, VD
Heliospectra AB (publ)
For the full report go to: https://www.heliospectra.com/investor-relations/reports-presentations/
Ali Ahmadian, CEO of Heliospectra | +46 (0)72 203 6344 | [email protected]
Heliospectra AB (publ) (OTCQB: HLS, FIRST NORTH: HELIO) is the global leader in intelligent lighting technology, light control systems and related services for greenhouse and controlled plant growth environments. With the vision to make commercial crop production more connected and resource-efficient, Heliospectra integrates customized LED spectral strategies with real-time response and artificial intelligence to create predictable and reliable business forecasts and harvest results. Founded in 2006, Heliospectra is committed to helping growers and commercial producers across six continents consistently increase yields and produce crops with quality appearance, superior nutritional or medicinal value and longer shelf life, harvest after harvest. Heliospectra is the recipient of multiple international awards and recognitions. For more information, please visit https://www.heliospectra.com.
The statements in this press release constitute forward-looking statements within the meaning of federal securities laws. Such statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, such forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Potential risks and uncertainties include, but are not limited to, technical advances in the industry as well as political and economic conditions present within the industry. We do not take any obligation to update any forward-looking statement to reflect events or developments after a forward-looking statement was made.
This information is information that Heliospectra AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:10 CEST / 3:10 AM CDT on Aug 23 st 2019.