Profoto reports net sales decrease for the half year
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Swedish lighting company Profoto Holding reports that, for the quarter ending in June, net sales totaled SEK 171 million, compared to 196 million, a decrease of 12.7 percent. Organic growth totaled -6.7 percent with a currency effect of -6.0 percent. The profit for the period was SEK 14 million, compared to SEK 28 million last year.
For six months, net sales totaled SEK 335 million, compared to SEK 366 million last year, a decrease of 8.5 percent. Organic growth totaled -5.7 percent with a currency effect of -2.8 percent. Profit for the period was SEK 18 million, compared to SEK 55 million.
| 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 |
Weak sales performance despite successful flash launches
During the quarter, Profoto launched the B20 and B30, which are further developments of the 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 the company’s high expectations. Over the past year, Profoto 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.
Looking ahead
Market conditions are expected to remain challenging in the coming quarters, with subdued demand and continued caution among our customers. The company is monitoring the developments on tariffs daily, as the situation is constantly changing and affects our market conditions. At the same time, the company says it is well equipped to deal with a weaker market with a competitive product range and a cost-effective structure.