Profoto reports second quarter net sales up 113%
Stockholm-based lighting products maker Profoto Holding AB reported second-quarter net sales increased to SEK 172m, an increase of 113.3 percent. (Adjusted for currency effects, net sales increased by 131.3 percent.) For six months ending June 2021, net sales increased to SEK 325m, an increase of 42.0 percent. (Adjusted for currency effects, net sales increased by 55.2 percent.) The company’s first trading day on Stockholm’s Mid-cap list was July 1, 2021.
During the first quarter, the company launched the Pro-11, an upgrade of its flagship product, the Pro-10. During the second quarter, Profoto Camera was launched, a camera app for smartphones, enabling users to the smartphone with the Profoto professional light shaping system. The company admitted, like most electronics companies, they are plagued by component shortages and logistics problems, which have led to delays and, in some cases, non-delivery.
| Key ratios Group |
2021 April – June |
2020 April – June |
∆% | 2021 January – June |
2020 January – June |
∆% | 2020 full year |
| Net sales, SEKm | 172 | 81 | 113,3 | 325 | 229 | 42 | 528 |
| EBIT*, SEKm | 36 | -23 | – | 76 | -10 | – | -12 |
| EBIT margin, % | 20,9 | -28,6 | – | 23,3 | -4,4 | – | -2,2 |
| Adjusted EBIT*1, SEKm | 53 | -30 | – | 100 | -16 | – | 56 |
| Adjusted EBIT margin1, % | 30,7 | -36,6 | – | 30,9 | -6,9 | – | 10,7 |
| Net profit for the period*, SEKm | 22 | -21 | – | 54 | -11 | – | -17 |
| Cash flow from operating activities, SEKm |
54 | 5 | 970,6 | 96 | 44 | 117,8 | 153 |
| Net debt4, SEKm | -14 | -3 | 416,7 | -14 | -3 | 416,7 | -91 |
| Net debt/EBITDA | -0,09 | -0,02 | – | -0,09 | -0,02 | – | -1,2 |
| Earnings per share*2 | 0,56 | -0,53 | – | 1,34 | -0,27 | – | -0,44 |
All amounts are in millions of SEK (SEKm) unless otherwise stated. Rounding differences of SEKm +/-1 may occur when adding up figures. Where an underlying figure is SEK 0m when rounded, it will be reported as 0. Figures in parentheses represent the same period last year.