Financial summary April-June 2025
- Net sales totaled SEK 171m (196), a decrease of 12.7 percent. Organic growth totaled -6.7 percent with a currency effect of -6.0 percent.
- EBIT totaled SEK 18m (36), and the EBIT margin, 10.5 percent (18.5).
- Profit for the period was SEK 14m (28).
- The return on operating capital (LTM) totaled 23.8 percent (34.0).
- Cash flow from operating activities amounted to SEK 20m (34).
- Earnings per share (basic and diluted) totaled SEK 0.36 (0.70)
Financial summary January-June 2025
- Net sales totaled SEK 335m (366), a decrease of 8.5 percent. Organic growth totaled -5.7 percent with a currency effect of -2.8 percent.
- EBIT totaled SEK 35m (70) and the EBIT margin totaled 10.5 percent (19.2).
- Profit for the period was SEK 18m (55).
- Cash flow from operating activities totaled SEK 78m (46).
- Earnings per share (basic and diluted) totaled SEK 0.44 (1.37).
| Apr-Jun 2025 | Apr-Jun 2024 | Jan-Jun 2025 | Jan-Jun 2024 | Jul 2024- Jun 2025 | Full year 2024 | |
| Net sales, SEKm | 171 | 196 | 335 | 366 | 700 | 731 |
| Organic growth, % | -6.7 | 7.6 | -5.7 | -10.4 | -4.0 | -6.5 |
| EBITA, SEKm | 30 | 45 | 56 | 89 | 171 | 204 |
| EBITA margin, % | 17.8 | 23.2 | 16.7 | 24.3 | 24.0 | 27.9 |
| EBIT, SEKm | 18 | 36 | 35 | 70 | 132 | 167 |
| EBIT margin, % | 10.5 | 18.5 | 10.5 | 19.2 | 18.9 | 22.9 |
| Adjusted EBIT, SEKm | 18 | 36 | 35 | 70 | 132 | 167 |
| Adjusted EBIT margin, % | 10.5 | 18.5 | 10.5 | 19.2 | 18.9 | 22.9 |
| Profit/loss for the period, SEKm | 14 | 28 | 18 | 55 | 74 | 126 |
| Cash flow from operating activities, SEKm | 20 | 34 | 78 | 46 | 83 | 97 |
| Net debt, SEKm | 219 | 206 | 219 | 206 | 219 | 235 |
| Net debt/EBITDA LTM | 1.14 | 0.92 | 1.14 | 0.92 | 1.14 | 1.04 |
| Return on capital employed, % | 21.7 | 30.4 | 21.7 | 30.4 | 21.7 | 28.7 |
| Return on operating capital, % | 23.8 | 34.0 | 23.8 | 34.0 | 23.8 | 31.9 |
| Earnings per share, SEK | 0.36 | 0.70 | 0.43 | 1.37 | 1.85 | 3.15 |
Results still affected by a challenging market
In the second quarter of 2025, our net sales totaled SEK 171m (196), down 12.7 percent compared to the same period last year. Organic growth totaled -6.7 percent, and the currency effect, -6.0 percent. EBIT fell to SEK 18m (36), corresponding to an EBIT margin of 10.5 percent. The margin deterioration is primarily explained by lower sales and increased costs associated with LED market entry, which has been partly offset by cost reductions.
Weak sales performance despite successful flash launches
During the quarter, we launched the B20 and B30, which are further developments of our highly successful B10 series. These new flashes offer even faster performance, a market-leading powerful LED, and greater flexibility for photographers and content creators. The initial customer response has exceeded our high expectations. Over the past year, we completed five successful flash launches and built a future-proof flash portfolio. Despite successful product launches during the quarter sales were weak, mainly due to continued uncertainty leading to cautious customer activity. Adjusted for currency effects, sales in the Americas remained unchanged in the quarter. The uncertainties and reduced willingness to invest that we saw in the first quarter, as a result of the current economic situation in the United States, persisted but were offset by pre-buying ahead of announced price increases as a result of increased tariffs. Adjusted for currency effects, sales in EMEA fell by 5 percent and in APAC by 16 percent, which is mainly explained by significant sales effects in connection with the launch of Pro-D3 last year.
Positive initial customer response to LED launches
During the quarter, we also took an important step into the LED-market by launching three new LED products. The Profoto LP2000C is the world's most powerful panel in its class and is complemented by two spotlight LEDs, Profoto L600C with color and L600D with daylight. What all three products have in common is our clear promise to users - they will be faster, lighter and brighter than competing alternatives. The launch took place at the Cine Gear Expo in Los Angeles, a leading trade show for film and media production. Our products attracted significant attention and provided us with valuable opportunities to demonstrate their capabilities to key industry players. Deliveries of the new LED products are planned to start in the fourth quarter and are expected to have some financial impact in the closing months of the year.
Focus on cost efficiency and strategic investments
The planned cost savings have been implemented as planned. During the quarter, we took measures that resulted in a staff reduction of approximately 15 percent. The full impact of the savings measures is expected to become visible in the second half of 2025. At the same time, we have continued to invest in our entry into the LED-market, with a continued focus on building a strong position in this area. During the quarter, we had increased costs for trade fairs, marketing and events.
Looking ahead
Market conditions are expected to remain challenging in the coming quarters, with subdued demand and continued caution among our customers. We are monitoring the developments on tariffs on a daily basis, as the situation is constantly changing and affects our market conditions. At the same time, we are well equipped to deal with a weaker market with a competitive product range and a cost-effective structure. In the long term, we see good opportunities to benefit from a recovery when the market turns. We also have an exciting journey ahead of us in terms of our entry into the LED-market, where we see great potential for the future. With the launch of our LED product portfolio, the addressable market increases from SEK 3.5 billion to SEK 14.7 billion.
Sundbyberg, July 18, 2025
Anders Hedebark
President and CEO
Financial calendar
Interim Report Q3 2025 - October 23, 2025
Year-End Report 2025 - February 6, 2026
Annual Report 2025 - Week 13, 2026
Conference call
Profoto Holding AB (publ) will publish its interim report for the second quarter of 2025 on Friday, July 18, at 8:00 a.m. CEST. At 9:00 a.m. CEST the same day, a webcast teleconference will be held where Anders Hedebark, President and CEO, will present the report together with acting CFO Linus Marmstedt. The presentation will be followed by a Q&A session. The presentation will be held in English. If you wish to participate via the webcast, please use the link below. https://profoto.events.inderes.com/q2-report-2025
If you wish to participate via teleconference, please register via the link below. After registering, you will receive a phone number and a conference ID to log into the conference. The conference call will provide an opportunity to ask questions. https://conference.inderes.com/teleconference/?id=5002404
The presentation material will be available before the conference begins on Profoto's web via http://investors.profoto.com. On this page, it will also be possible to access the recorded version of the webcast after it is finished.
Contact
Amanda Åström
Head of Investor Relations
Telefon
+46 73 679 34 48
E-post
amanda.astrom@profoto.com
About Profoto
Profoto was founded more than 50 years ago and has since then been a world leader in lighting equipment for professional photographers, driving innovation and awareness of how to create better images through light. We know that light is the indispensable source in all image creation - regardless of camera or situation. Creating great images is about mastering and shaping light. The end users are professional photographers and commercial customers, including major consumer brands and e-commerce companies. The company currently has sales in 51 countries worldwide. Net sales in 2024 totaled SEK 731m, with an EBIT margin of 23 percent. Profoto has 148 employees at its headquarters in Stockholm and in subsidiaries in the USA, Japan, China, Germany, France, England and the Netherlands.
For more information about Profoto, please visit https://investors.profoto.com
This information is information that Profoto Holding is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-07-18 08:00 CEST.
