Year-End Report 2017, Heliospectra AB ( publ)

(GOTHENBURG, Sweden / SAN FRANCISCO, CA, February 23, 2018) – Heliospectra AB (publ) (OTCQB: HLSPY, FIRSTNORTH: HELIO), a world leader in intelligent lighting technology for greenhouse and controlled plant growth environments, are today presenting its Year-End Report for 2017.

Financial Report


· Net sales amounted to SEK 16,489 thousand (6,864)
· Operating profit/loss was KSEK -7,478 (-12,468), involving a negative operating margin (neg)
· Profit/loss after tax was KSEK -7,470 (-15,354) or SEK -0,21 (-0,44)  per share
· Operating cash flow was KSEK -3,556 (-2,009). Total cash flow was KSEK -4,543 (60,556)


· Net turnover was KSEK 36,039 (23,053)
· Operating profit/loss was KSEK -33,089 (-42,784) involving a negative operating margin (neg)
· Profit/loss after tax was KSEK -33,171 (-45,763) or SEK -0,94 (-1,30) per share
· Operating cash flow was KSEK -29,511 thousand (-39,377). Total cash flow was KSEK - -32,307 thousand (54,092).

January – March

April - June

July - September

October - December

Events since the end of the period

CEO’s Comments

Dear Shareholders of Heliospectra AB (publ),

At the beginning of 2017, we set about transforming different aspects of Heliospectra’s business to deliver customer and investor rewards over the short- and long-term. We now reflect on these decisions with pride in our achievements and determination to press on. In executing against our new strategy, we made measurable strides in
increasing earnings, expanding our market leadership and improving operational performance.

Among our first strategic initiatives was to clarify and highlight the value proposition of our lighting solutions well beyond electrical cost reduction. Now more and more growers understand that the Heliospectra solution empowers them to increase yield, control product
consistency and accelerate harvest cycles while they improve quality and minimize crop waste. Over the past year, I particularly enjoyed meeting with our grower customers around the world. A common theme of our discussions was the great appreciation growers have for the financial value delivered by Heliospectra products and our commitment to providing expertise and solutions that precisely fit their needs. This validates our decision to put growers rather than products at the center of our focus across business units.

Accordingly, Heliospectra delivered strong earnings growth and maintained this momentum during the last three quarters of 2017. Key metrics including order intake and revenue grew by 93% and 56%, respectively, compared to 2016. Our remarkable growth, which was primarily fueled by projects in the United States and Canada, is also the result of new organizational and operational synergies achieved by applying both our local and global expertise to strengthen customer offerings.

Aligned with our strategy to strengthen market share among food growers, we secured contracts with leading producers of salad greens and vine crops. At the same time, we expanded our customer portfolio in burgeoning segments including medical and research crop production. During 2017 we responded to strong demand from ag-tech companies, who readily grasp our product line’s unique value proposition for supporting their research and intellectual property advancements.

Continuing our own tradition of innovation, in the third quarter we introduced HelioCORE as the first and only light control solution to enable growers to forecast quotas, standardize production and increase year-round yields through improved connectivity. This breakthrough technology is our response to growers’ expressed need to improve their business performance and gain negotiating advantages in the marketplace. HelioCORE has received great interest from growers around the world and we are excited to officially launch the product end of quarter one 2018.

Additionally, we readied Heliospectra Technical Services for launch in January 2018 to enable growers to more rapidly achieve their production and business goals. A sampling of these turnkey services includes customized light strategies and speed-breeding trials to accelerate crop performance enhancement as well as didactic and hands-on training in the effective use of smart lighting.

Even while growing our business and expanding our customer offerings, we reduced operational costs by 12% by improving productivity, efficiency, and operational control. Despite macroeconomic challenges, such as unfavorable currency exchange rates in key markets, we improved our bottom line by 23%. For the first time, we took significant steps toward a more positive EBITDA compared to prior years.

Looking ahead, I view 2018 with confidence supported by our highest-quality product line and proven track record of improving business performance. Through the ongoing development and delivery of market-leading solutions and services that directly address grower needs, we will continue to strengthen profitability. Heliospectra is now well positioned to achieve its vision, thanks to the strategic changes we implemented in 2017.

In closing, I would like to express my gratitude to our team and stakeholders for their important contributions throughout the year. With your steadfast support, we will continue our evolution into the horticultural lighting industry’s most dominant and value-driven company.

Ali Ahmadian, CEO
Heliospectra AB (publ)

To read the full report visit:

Investor Relations:

Ali Ahmadian, CEO of Heliospectra | +46 (0)72 203 6344 |

Redeye is Heliospectra Certified Advisor for Nasdaq First North -

About Heliospectra

Heliospectra AB (publ) (OTCQB: HLS, FIRST NORTH: HELIO) is the industry’s most proven intelligent lighting technology for greenhouse and controlled plant growth environments. With the vision to make commercial crop production more connected and resource-efficient, growers and commercial producers across six continents use Heliospectra holistic and flexible solutions to consistently increase yields while producing crops that achieve quality appearance, superior nutritional or medicinal value and longer shelf life, harvest after harvest. Founded in 2006 and winner of multiple international awards and recognitions, Heliospectra has raised more than $32 million in capital to date. As a publicly traded company, the majority ownership remains with some of Heliospectra earliest investors Weland Steel, Swedish Industrial Fund and Midroc New Technology. For more information, please visit

Forward-Looking Statements

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 EST on February 23, 2018.


Heliospectra Year-End Report 2017.pdf