- Both revenues and costs surprised towards the negative
- Promising biosensor launch upcoming but outlook more uncertain
- We revise our valuation interval down to SEK 3.60 – 5.60 (4.30 – 6.70) per share
Heliospectra’s report for Q3 2021 came in quite a bit weaker than we had anticipated. The turnover figures are still strongly affected by the pandemic and the refocusing of the business towards food growers, a shift that has not yet started to pay off in terms of rising sales. Operating costs turned out higher than expected, primarily due to a one-off provision for future warranty claims. The upcoming launch of Heliospectra’s biosensor product could bring about a sales breakthrough, but the current slow pace in both sales and order intake makes us re-evaluate our economic scenario. Hence, we lower our valuation interval to SEK 3.60 – 5.60 per share.
The full report is available here.