HELIOSPECTRA INTERIM MANAGEMENT STATEMENT JANUARY - SEPTEMBER 2016
Heliospectra AB (publ) (OTCQB: HLSPY, FIRSTNORTH: HELIO), a world leader in
intelligent lighting technology for controlled environments horticulture,
presents today their Interim Management Statement for January - September 2016.
Turnover and profit/loss January - September
Net turnover amounted to 16 189 (6 063) KSEK
Operating profit/loss amounted to -30 316 (-22 442) KSEK
Profit/loss after tax was -30 409 (-22 616) KSEK or -2 (-1) SEK per share
Significant events
Januari - March
Redeye releases a Company Report on Heliospectra entitled "LED Lightning
Strikes Growers"
Heliospectra (publ) receives a grant of 500,000 SEK for the development of
energy & water-efficient plant cultivations in the Middle East
Heliospectra carries out high-level recruitment of leading industry manager in
the United States, Caroline N Wells
Heliospectra receives an order worth 2.2MSEK from Washington State based grower
Heliospectra wins a new order in Canada worth 650,000 SEK
April - June
Scandinavian microalgae producer selects Heliospectras LX60 LED grow light
system, the order is valued at 1,4MSEK
Heliospectra announces water-cooled LED light for commercial use - first
application to be carried out in space
Heliospectra present new findings at the 8th International Symposium on Light
in Horticulture
Heliospectra participate in GreenTech 2016, one of the largest horticulture
exhibitions in the world
The Grove Nevada experiences exceptionally positive results by using
Heliospectras LED grow lights
Heliospectra receives an order worth 4.6MSEK from a large international Agtech
company
July - September
Heliospectra receives an order from a Cannabis grower in Alaska
Fortune 500 global AgTech company standardizes on Heliospectra technology
Events after the end of the period
Heliospectra are planning to carry out a fully underwritten rights issue of
approx. 91 MSEK for further commercialization of the Companys products and
continued product development
Summons for extra Shareholders Meeting on November 8, 2016
Heliospectras board assessed whether or not the Companys equity is less than
half of the registered share capital by establishing a balance sheet review.
The board have established that there is no deficiency of capital as per
2016-09-30, nor was there any before or during the time remaining until the
issue. The prospects for continued operation have not been able be questioned
at any time during the period.
The Companys principal owners have guaranteed to secure the equity capital as
so that the equity would at no point amount to less than the registered share
capital. The guarantees are valid until the previously announced rights issue,
which is fully underwritten by one of the major shareholder.
A Word From the CEO
Dear shareholders of Heliospectra AB (publ),
The market for medicinal plants continues to develop rapidly. On top of the 23
states in the US where growing medicinal cannabis has been legalized, another
handful are set to rule on this decision in the near future. In Australia it
will be implemented by November according to a recent ruling1. We are observing
a global trend. Turkey has recently ruled to legalize controlled production in
19 provinces2. Earlier this year Macedonia legalized use for medicinal
purposes3. These types of discussions are going around many other European
countries, where it is already possible to buy approved prescribed substances
in pharmacies. We can see this same trend in Latin America, where Uruguay is
one of the countries that has taken the lead.
There are a number of important driving forces behind Heliospectras technology.
FAO4 recently stated that climate change related to farming is already
considerable, while at the same time the demand for food will increase by at
least 60% by 2050. We have a situation involving a growing population and
increasing urbanization. To be able handle this situation the production
methods need to be improved and concede to an increased level of automation.
This also drives agricultural technology companies - who develop and sell
seeds, pesticides and fertilizer - to invest in new technology. Furthermore,
the actual production will have to take place closer to the consumer, which
accelerates the growth of "city farming" and cuts down on logistical flows. We
are counting on significant changes being made to the entire value chain in the
years to come.
The companys positive development continues. Compared to the same period last
year we have increased our revenues by 160 %. We can also enjoy a testimony to
the confidence our customers place in us when one of the worlds leading
agricultural technology company places their fourth order for another 1.9 MSEK.
To continue to finance our expansion on the market, the companys board has
suggested a preferential rights issue of approx. 91MSEK, with the possibility
of an over allocation of approx. 20MSEK. It is very positive that our principal
owners support the company and have committed to subscribe, while also making
sure that the entire rights issue is fully underwritten. The raised capital
mainly relates to operating capital for sales and marketing, continued product
development and to strengthen the balance sheet.
With rapidly growing markets, world leading products and strong principal
owners backing us we can look positively to the future.
Staffan Hillberg, CEO
Heliospectra AB (publ)
1)
www.canberratimes.com.au/act-news/medicinal-cannabis-to-be-legalised-in-australi
a-from-november-
20160901-gr6kb5.html
http://www.canberratimes.com.au/act-news/medicinal-cannabis-to-be-legalised-in-a
ustralia-from-november-
20160901-gr6kb5.html
2)
www.independent.co.uk/news/world/europe/turkey-legalises-controlled-cannabis-pro
duction-19-provinces-
a7364026.html
http://www.independent.co.uk/news/world/europe/turkey-legalises-controlled-canna
bis-production-19-provinces-
a7364026.html
3)
www.balkaninsight.com/en/article/macedonia-allows-medical-marijuana-in-pharmacie
s-05-31-2016
http://www.balkaninsight.com/en/article/macedonia-allows-medical-marijuana-in-ph
armacies-05-31-2016
4)
www.fao.org/publications/sofa/en/?utm_source=faohomepage&utm_medium=web&utm_camp
aign=featurebar
http://www.fao.org/publications/sofa/en/?utm_source=faohomepage&utm_medium=web&u
tm_campaign=featurebar
For the full report: http://ir.heliospectra.com/en/financial-reports/
http://ir.heliospectra.com/en/financial-reports/
For the complete Interim management statement, see attached document.
GOTHENBURG, Sweden/SAN FRANCISCO, CA, October 28th, 2016
Investor Relations:
Staffan Hillberg, CEO of Heliospectra |
+46 (0)708 36 59 44
staffan.hillberg@heliospectra.com mailto:staffan.hillberg@heliospectra.com
Michael Swartz, Senior Analyst | Viridian Capital Advisors, LLC | +1
212-333-0257 |
mswartz@viridianca.com mailto:mswartz@viridianca.com
G&W is Heliospectras Certified Advisor for Nasdaq First North -
www.gwkapital.se http://www.gwkapital.se
www.heliospectra.com http://www.heliospectra.com
The following documents can be retrieved from beQuoted
Heliospectra Pressrelease 2016-10-28 English.pdf -
http://www.bequoted.com/beQPress/download.asp?Id=18890
Heliospectra Interim Management Statement Q3 2016.pdf -
http://www.bequoted.com/beQPress/download.asp?Id=18891
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 08.00 CEST on October 28th, 2016.
About Heliospectra AB
Heliospectra AB (publ) (OTCQB: HLSPY, FIRSTNORTH: HELIO) (www.heliospectra.com
http://www.heliospectra.com ) specializes in intelligent lighting technology
for plant research and greenhouse cultivation. The Companys lighting system
provides an effective and durable technology for cultivating greenhouse and
indoor plants by combining several different groups of versatile light emitting
diodes (LEDs) with optics, remote sensing techniques, and a robust heat
dissipation solution. This proprietary setup gives growers the ability to
control the intensity and wavelengths of the light emitted, creating a spectrum
specifically adjusted to different plant species and growth stages to better
facilitate photosynthesis. The complete, highly-engineered lamp produces crops
that look better, taste better, and have a longer shelf-life than those grown
under HID lamps. The technology not only reduces energy consumption by up to
50%, but also helps stimulate growth characteristics and improve plant quality.
Other benefits include reduced light pollution, lower mercury use due to the
avoidance of traditional HID/HPS bulbs, and less HVAC investment and monthly
expense requirements.
Heliospectra products are based on in-depth knowledge in plant physiology and
photosynthesis along with a unique way to utilize modern LED technology. After
six years of development in Sweden, the company has now begun to expand into
the international market. The company has raised more than $ 21 million in
capital and has received more than $2.6 million through academic scholarships
and grants. It has also received numerous awards for its forward thinking
technology. Largest shareholders: Weland Steel www.welandstal.se
http://www.welandstal.se , Swedish Industrial Fund www.industrifonden.se
http://www.industrifonden.se , Midroc www.midroc.se http://www.midroc.se ,
Avanza Pension www.avanza.se http://www.avanza.se .
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.
