Heliospectra reported net sales of SEK 7.1m in Q2’19 (-10.9% y/y), which thus came in somewhat below our estimate. It did at the same time report solid gross margin improvements and lower than expected costs, resulting in EBIT in level with our expectations. While H1’19 has been rather weak in terms of growth and losses, Heliospectra has geared up to attract larger growers, which we expect to result in significant orders over the coming years.

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