Profoto (PRFO) investor relations material

Executive summary

• Net sales for Q2 2026 declined by 16.8% year-over-year to SEK 142m, with organic growth at -14.1% and negative currency effects.

• EBIT was SEK 0m for the quarter, down from SEK 18m last year, with EBIT margin falling to 0% from 10.5% due to lower sales.

• All regions experienced negative sales growth, with EMEA particularly weak at -26.3% amid high uncertainty and internal challenges.

• Market uncertainty and cautious demand persisted, impacting sales and earnings despite cost reductions.

• The Profoto ProPanel launch received positive market feedback but had limited Q2 financial impact.

Financial highlights

• Q2 2026 net sales: SEK 142m (down 16.8% YoY); EBIT: SEK 0m (margin 0.0%); EBITDA: SEK 21m (margin 14.5%).

• Operating cash flow was positive at SEK 8m for Q2 2026.

• Net debt reduced to SEK 169m from SEK 219m year-over-year.

• Gross debt amortized by SEK 20m during the quarter.

• Cost base reduced by close to 20% compared to the same quarter last year.

Outlook and guidance

• Gradual revenue improvement expected over the next quarters, especially from new product launches like ProPanel.

• Market conditions remain cautious, with longer decision-making cycles and postponed investments.

• No major changes in cost structure anticipated in coming quarters.

• Continued focus on cost control and financial flexibility to support new market entries.