The full report is enclosed in this press release and uploaded at https://heliospectra.com/investor-relations/financial-reports-documents/reports/.
 
SUMMARY OF REPORT
Sales and financial performance April - June 2025

• Order intake during the period amounted to SEK 10,650 (8,076) thousand.
• Net sales during the period amounted to SEK 7,289 (4,402) thousand.
• Operating result during the period amounted to SEK -8,589 (2,054) thousand.
• Profit after tax was SEK -8,904 (2,050) thousand.

Sales and financial performance January - June 2025

• Order intake during the period amounted to SEK 13,779 (34,904) thousand.
• Net sales during the period amounted to SEK 9,190 (11,600) thousand.
• Operating result during the period amounted to SEK -17,597 (-4,505) thousand.
• Profit after tax was SEK -17,913 (-4,507) thousand.

During first half of 2025, confirmation of orders from two Canadian customers was received for a total value of 8,827 TSEK. These are not visible in order intake of 2025 as the orders were announced in Q1 2024. The orders are expected to be reflected in the accounts during Q3 and Q4 of 2025.

Cash flow January – June 2025

• Operating cash flow was SEK -11,866 (-241) thousand.
• Total cash flow was SEK 12,658 (-636) thousand.
• Cash equivalents at the end of the period were SEK 14,092 (7,856) thousand.

 
CEO COMMENT
Dear Shareholders,
As we close the second quarter of 2025, Heliospectra continues to make progress in strengthening its commercial foundation and innovation roadmap, though sales are developing more slowly than we had hoped. Larger greenhouse projects, in particular, are taking longer to materialize, which is not unusual for a relatively new brand in this competitive segment and looking at the uncertainty in the market as a result of the changing import duties. At the same time, our pipeline is expanding, our Agtech business is performing strongly, and our visibility with leading growers and industry partners is higher than ever. These are encouraging signs that our strategy is moving us in the right direction, even if the path takes more time than anticipated.

Agtech Sales Remain Strong
Our Agtech segment continues to perform well. Thanks to our new key account strategy, we are maintaining a steady inflow of sales globally and building stronger, longer-term relationships with existing customers. The strategy is also enabling us to form new partnerships and engage in discussions on larger, more strategic projects. With our complete MITRA portfolio, we have now solutions for both  growing rooms and the greenhouses, controlled by our helioCORE software. This provides stability in the near term and positions the Agtech business as an important driver of revenue and profitability.

Progress in the Greenhouse Segment
In the Greenhouse segment, we are taking important steps to strengthen our positioning. We are building closer relationships with greenhouse builders and integrators, ensuring earlier involvement in the planning and design of large-scale projects. This early engagement increases our competitiveness and the likelihood of being included in project specifications from the outset. Encouragingly, we are also seeing a rise in both the volume and quote size of ongoing discussions, suggesting that interest in our solutions is deepening.

Looking ahead, we will also conduct trials with leading North American growers during the fall and winter of 2025. These trials will provide important validation of our solutions in high-profile commercial settings and place us at the center of project discussions expected to take place in 2026.

We also continued to strengthen our team in the Netherlands, welcoming Denis Dullemans as Lead Global Greenhouse Sales in June. With more than two decades of horticultural lighting and greenhouse expertise, Denis brings valuable industry knowledge and strong grower relationships. His appointment completes a highly experienced local management team in Breda, giving us a strong foundation to serve growers and partners across Europe.

Visibility & Innovation
Our participation at GreenTech 2025 in Amsterdam further strengthened our visibility and brand recognition. At the event, we organized the panel “Maximizing Tomato Growth and Yield: Optimizing PPFD Intake for Your Crops” and presented helioSENSE, our next-generation biosensor.  The helioSense has been soft launched at different customers with different crops in May and we will continue during the second half of this year to install our unique sensor in more greenhouses, preparing for the commercial launch in 2026. The strong interest helioSENSE generated during the event, confirmed the market’s appetite for plant-driven cultivation solutions.

Meanwhile, our helioCORE™ platform continues to expand its capabilities. In Q2, we finalized a new functionality, where growers can now integrate real-time electricity pricing and “peak-prediction” in Ontario, Canada into their helioCORE systems. This enables more dynamic energy management, helping reduce operating costs while maintaining optimal crop production.

Looking Ahead
The first half of 2025 has not delivered the level of sales we had budgeted for, largely due to slower-than-expected conversion of larger greenhouse projects. However, our pipeline is stronger, our visibility in the market is increasing, and our discussions with leading growers and partners are advancing. The recognition of the new Ontario order and two re-repeat orders in Canada, combined with new customer wins and upcoming trials with major North American growers, will support improved momentum going forward.

I want to thank our shareholders for their continued trust and patience as we work through this transition. Heliospectra is building for the long term, with the right people, products, and partnerships to succeed. While the journey requires persistence, I am confident that we are laying the foundation for larger wins and sustainable growth in the years ahead.

Bonny Heeren
CEO, Heliospectra AB