Profoto's Interim Report January 1 – September 30, 2026

Financial summary July – September 2026

• Net sales totaled SEK 128m (119), an increase of 7.9 percent. Organic growth was 7.7 percent, and the currency effect was 0.2 percent.
• EBITDA amounted to SEK 40m (4) and the EBITDA margin to 30.9 percent (3.2).
• EBIT amounted to SEK 19m (-57) and the EBIT margin to 14.6 percent (−47.9).
• Earnings were positively impacted by a refund of U.S. tariffs of SEK 15m.
• Profit for the period amounted to SEK 14m (−48).
• Return on operating capital (LTM) was 9.5 percent (14.0).
• Cash flow from operating activities amounted to SEK 25m (35).
• Earnings per share (basic and diluted) amounted to SEK 0.36 (−1.19).

Financial summary January – September 2026

• Net sales totaled SEK 419m (454), a decrease of 7.7 percent. Organic growth was -3.0 percent, and the currency effect was −4.7 percent.
• EBITDA amounted to SEK 96m (71) and the EBITDA margin was 22.9 percent (15.7).
• EBIT amounted to SEK 35m (−22) and the EBIT margin to 8.5 percent (−4.9).
• Earnings were positively impacted by a refund of U.S. tariffs of SEK 15m.
• Profit for the period amounted to SEK 26m (−30).
• Cash flow from operating activities amounted to SEK 56m (113).
• Earnings per share (basic and diluted) amounted to SEK 0.66 (−0.76).
• Net debt amounted to SEK 151m (208), and the net debt/EBITDA LTM ratio was 1.17 (1.45).

Sales growth with significant geographic variations:

• Sales growth from low levels.
• Improved earnings, partly due to a tariff refund.
• Strengthened financial position.
• LED-panel Profoto ProPanel is progressing as planned.

– Anders Hedebark, CEO

Sales growth with significant geographic variations

Sales growth from low levels
The third quarter showed an improvement compared with the previous year, both in terms of sales and earnings. Net sales totaled SEK 128m (119), representing an organic increase of 7.7 percent. However, this improvement should be viewed in the context of a weak third quarter in 2025, and market conditions remain challenging with intense competition. To address these challenges, we are continuing our efforts to clarify our product offering and refine our marketing strategy for our primary customer groups: Studios, Creators, and Cinema.

In Americas, sales totaled SEK 54m (44), representing organic growth of 20.2 percent. The increase is largely attributable to a low comparison base, but we are also seeing positive trends among several major customers. However, the underlying sentiment in the region as a whole remains cautious, particularly in Canada, where sales have been negatively impacted by the ongoing trade conflict with the U.S. Sales in EMEA increased organically by 14.6 percent to SEK 48m (42). In APAC, organic sales decreased by 21.1 percent to SEK 26m (33). During the quarter, we observed a shift within the region. China, which had previously shown stable growth, has weakened as a direct result of lower economic activity in the country, while Japan has demonstrated strength with a couple of large orders in the LED segment.

Improved earnings, partly due to a tariff refund
EBIT amounted to SEK 19m (−57). The improvement in earnings was driven by higher sales and lower costs, thanks to continued strong cost control. The quarter’s earnings were also positively impacted by a refund of U.S. tariffs totaling SEK 15m. Note that, adjusted for items affecting comparability, EBIT for the prior year was SEK −10m.

Strengthened financial position
Thanks to stable cash flow and continued cost discipline, our financial position has improved. Net debt relative to EBITDA has decreased to 1.2, down from 1.8 at the end of the second quarter. A strong financial position enables us to take a long-term approach and actively support our sales initiatives.

LED-panel Profoto ProPanel is progressing as planned
Launch of the Profoto ProPanel is progressing as planned. The product is currently being used in numerous productions around the world, which over time is expected to contribute to increased sales as more professionals gain experience with it in their work.

Closing remarks
The third quarter represents a step in the right direction, but we have a lot of work ahead of us before we return to a satisfactory level. The market remains challenging, with strong global competition, and we do not expect any rapid change in market sentiment. In summary, Profoto has a strong long-term position, with an attractive product portfolio and continued investment in product development, an organization that has become more efficient, and a financial position that gives us the flexibility to drive growth going forward.

Sundbyberg, October 20, 2026

Anders Hedebark
President and CEO

Financial calendar
Year-End Report 2026 - February 11, 2027
Annual Report 2026 - April 5, 2027
Q1 2027 Interim Report - April 29, 2027
2027 Annual Shareholders Meeting - May 11, 2027
Q2 2027 Interim Report - July 21, 2027
Q3 2027 Interim Report - October 27, 2027

Conference call
Profoto Holding AB (publ) will publish its interim report for the third quarter of 2026 on Tuesday, October 20, at 8:00 a.m. At 9:00 a.m. the same day, a webcast conference call will be held, during 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 conducted in English.

If you wish to participate via the webcast, please click the link below.
https://profoto.events.inderes.com/q3-report-2026

If you would like to participate via conference call, please register using the link below.
https://events.inderes.com/profoto/q3-report-2026/dial-in