GOTHENBURG, Sweden, TORONTO and TOKYO, April 24, 2020 /PRNewswire/ -- Heliospectra AB (publ) (North American ADR OTCQB: HLSPY) and (Nasdaq First North Growth Market: HELIO), a world leader in intelligent lighting technology for greenhouse and controlled plant growth environments, presents Interim Report for January-March 2020.
Full report is enclosed to this press release and is also uploaded at www.heliospectra.com
This information was provided for publication the 24th of April 2020 at 08,00 CEST.
SUMMARY OF REPORT
SALES AND FINANCIAL PERFORMANCE, JANUARY- MARCH
Net sales amounted to KSEK 15 200 (9 657) which means an increase of 57% compared to last year. Of the period's sales, the MITRA product group made up 21%. The operating loss amounted to KSEK -9 058 (-9 429) KSEK, signifying a negative operating margin (neg). The loss after tax was KSEK -9 054 (-9 483).
SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD
Heliospectra announces a new order from Turner Construction in the US for the fully controllable ELIXIA LED light solution for green house installation project. Order value is USD$ 228 000.
As I write this letter, humanity is facing one of its biggest challenges in living memory, one that will profoundly impact families, communities, companies and economies. I would like to thank the entire Heliospectra team for their hard work, passion and resourcefulness during these difficult times and our shareholders for your unwavering commitment to our people, our innovations and our vision.
While Heliospectra entered this year in a position of strength, like most companies we are facing new and unforeseen challenges as a result of the pandemic. The necessary restrictions imposed to combat the virus have changed the way we have had to approach our business. As expressed in our Year- End 2019 Report, we started 2020 with a strong order book. Even though we have not lost any single opportunity and our customers are committed to us more than ever, due to the travel restrictions some of our customers' projects, including Nectar Farms, have faced with delay in initiation. In order to take action to mitigate short-term impact, we work hard to secure governmental grants and support in the markets we are present. Secondly, we are strengthening our forward-looking focus and actions to ensure we are top of customers' mind and ready for the demand when the world comes back online.
We have been focusing even more deeply on building and strengthening relationships with our customers and the industry at large. We are building virtual networking opportunities for the industry and educating and engaging our customers through our webinars - by growers, for growers. We are also connecting with customers all over the world through virtual avenues, as we continue to devote our day-to-day energies to helping our growers succeed and supporting their teams with our cultivation and plant science expertise.
Cutting Edge Product Solutions
Heliospectra is excited that MITRA is now fully certified in North America. With its modular design and powerful output optimizable for any crop, MITRA is in demand and meeting the market's needs. Additionally, we are united in our mission and maintaining our technological leadership position in the market by development cutting-edge integrated lighting solutions. No matter where our desks may be, we are ready to meet our customer's future needs.
As the company continues to broaden its global presence and impact, in quarter one we welcomed on board Sarah Basiri as Vice President of Marketing, based out of New York, United States, and Scott Thornton as Vice President of Sales and General Manager for North America, based out Montreal, Canada. Sarah joins Heliospectra from The Mezzanine Group, an award-winning marketing agency, where she served as Director of Marketing for multinational clients. Formerly Managing Director of Tetra Pak Canada, Scott joins Heliospectra from PBC, a private label food broker in Canada, where he served as Vice President of Sales and Marketing. Sarah and Scott collectively have over 40 years of experience building and leading teams internationally with a focus on excellence in sales, marketing and customer experience. Their passion for technology and innovation, as well as their industry expertise, will play a key role in Heliospectra's success and continued expansion globally.
The days ahead will be a challenge but also a triumph for companies, communities and individuals around the globe. Now is the time to come together and support one another. We will soon emerge from this crisis to begin a stronger, more united, and more prosperous chapter together. I strongly believe that the power of Heliospectra's vision - to feed and heal the world - will rapidly put us in a very relevant context for customers, consumers, societies and ultimately you as our shareholders.
Ali Ahmadian, Vice President & CEO
CEO of Heliospectra
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