Profoto Holding AB: Profoto interim report, January 1- March 31, 2026

Financial summary January - March 2026

• Net sales totaled SEK 149m (164), down 9.5 percent. Organic growth totaled 1.0 percent, and the currency effect was -10.5 percent.
• EBITDA amounted to SEK 36m (32) and the EBITDA margin was 24.1 percent (19.2)
• EBIT totaled SEK 17m (17), and the EBIT margin was 11.3 percent (10.4).
• Profit for the period was SEK 12m (3).
• The return on adjusted operating capital totaled 7.3 percent (28.0).
• Cash flow from operating activities totaled SEK 23m (58).
• Earnings per share (basic and diluted) totaled SEK 0.30 (0.08)

Stable result thanks to cost control in a challenging market
- Anders Hedebark, CEO

Key ratios, Group

	Jan-Mar 2026	Jan-Mar 2025	Apr 2025- Mar 2026	Full year 2025
Net sales, SEKm	149	164	601	617
Organic growth, %	1.0	-4.7	-9.2	-10.4
EBITDA, SEKm	36	32	108	104
EBITDA margin, %	24.1	19.2	18.0	16.8
EBITA, SEKm	31	26	86	81
EBITA margin, %	20.8	15.6	14.3	13.2
EBIT, SEKm	17	17	-6	-6
EBIT margin, %	11.3	10.4	-1.1	-1.0
Adjusted EBIT, SEKm	17	17	41	41
Adjusted EBIT margin, %	11.3	10.4	6.8	6.6
Profit/loss for the period, SEKm	12	3	-14	-23
Cash flow from operating activities, SEKm	23	58	116	151
Net debt, SEKm	167	211	167	181
Net debt/EBITDA LTM	1.54	1.02	1.54	1.74
Adjusted return on operating capital, %	7.3	25.3	7.3	7.2
Earnings per share, SEK	0.30	0.08	-0.3	-0.57

Stable result thanks to cost control in a challenging market

Cautiously positive sales development
The first quarter was characterized by a continued challenging and volatile market, with a persistently tough competitive environment. Net sales totaled SEK 149m (164). Organic growth was slightly positive at 1 percent, partly as a result of good demand for Pro-11, but it should also be noted that the comparative figures from the previous year are weak, not least in the Americas. In the first quarter of 2025, sales in the region were negatively impacted by economic uncertainty, leading to a reduced willingness to invest among our customers. Sales performance varied across our regions. The Americas saw positive organic growth of approximately 9 percent, and sales totaled SEK 64m (68). In both EMEA and APAC, organic growth was negative. EMEA had a challenging quarter with increased uncertainty compared to previous quarters, and sales decreased organically by 7 percent to SEK 57m (64). In APAC, sales amounted to SEK 28m (33), an organic decline of 4 percent. We see the same pattern as in previous quarters with stable development in China and a continued cautious market in Japan and APAC.

Stable performance due to favorable product mix and lower costs
EBIT for the quarter was unchanged, despite the lower sales volume, and amounted to SEK 17m (17), corresponding to an EBIT margin of 11.3 percent (10.4). The result was positively affected by a favorable product mix and continued good cost control. The total cost base, expressed as personnel expenses and external costs, was 31 percent lower in the first quarter of 2026 compared with the same period in the previous year. The decrease is the result of the efficiency measures implemented in 2025. However, we expect a slightly higher cost base going forward due to costs related to the introduction of Profoto ProPanel 3x2 and increased investments in the sales and marketing organization.

Strong financial position despite current market climate
Thanks to good cost control and focus on working capital, we continue to generate a stable cash flow from operating activities of SEK 23m in the first quarter, further strengthening our financial position. At the same time, the net debt/EBITDA ratio improved from 1.7 at December 31 to 1.5 at March 31.

Sales launch of our LED Profoto ProPanel 3x2
At the end of the quarter, sales of our LED panel, Profoto ProPanel 3x2, started in line with previous announcements. Our assessment remains that this will have some financial impact in the second quarter of the year.

Closing words
Despite a continued challenging market, we delivered a solid result in the quarter. With a strengthened financial position and a more efficient organization with a continued strong focus on innovation, we are well positioned in an exciting yet demanding market.

Sundbyberg, May 6, 2026

Anders Hedebark
President and CEO

Financial calendar
2026 Annual General Meeting - May 6, 2026
2026 Q2 Interim Report - July 17, 2026
2026 Q3 Interim Report - October 20, 2026
2026 Year-End Report - February 10, 2027

Conference call
Profoto Holding AB (publ) will publish its interim report for the first quarter 2026 on Wednesday, May 6 at 8:00 a.m. CEST. At 9:00 a.m. CEST on the same day, a webcast conference call will be held at which President and CEO Anders Hedebark will present the report together with 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/q1-report-2026

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 in to the conference. The teleconference provides an opportunity to ask questions in real time. https://events.inderes.com/profoto/q1-report-2026/dial-in

Contact

Linus Marmstedt
CFO
Phone
[phone]
E-mail
[e-mail]

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 approximately 50 countries worldwide. Net sales in 2025 totaled SEK 617m, with an adjusted EBIT margin of 7 percent. Profoto has ~110 employees at its headquarters in Stockholm and in subsidiaries in the USA, Japan, China, 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. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-05-06 08:00 CEST.