Profoto Holding Ab · OMXSTO:PRFO
Profoto Holding Ab — Q2 2024 Earnings Presentation
19 slides from Profoto Holding Ab's earnings presentation, Jul 17, 2024
Slide 1: Profoto Q2 report 2024
Growth from product launches. Continued investments in product and market. Profoto Q2 report 2024 July 17%, 2024 (@)Profoto. The light shaping company
Slide 2: Today's speakers
Today's speakers CEO &, = y Anders Hedebark anders.hedebark@profoto.com CFO Carl Bandhold carl.bandhold@profoto.com Head of IR \ : Sw y Amanda Astr6m amanda.astrom@profoto.com (=|Profoto The light shaping company~
Slide 3: Highlights
Highlights * Netsales grew by 7 percent to SEK 196m. Organic growth amounted to 8 percent. * EBIT was SEK 36m (47), corresponding to an EBIT margin of 19 percent (26). * The return on operating capital totaled 34 percent (65). Profoto The light shaping company
Slide 4: We aim to grow in our core market while also investing in new growth areas
We aim to grow in our core market while also investing in new growth areas Growth area Light for professional photographers Workflow solutions Light for film for e-com and studios production Software connected to hardware for large-scale content production Light and light shaping tools Core Growth a
Slide 5: New product launched on May 7th, Pro-D3, was the main driver of growth
New product launched on May 7*, Pro-D3, was the main driver of growth in the second quarter * Made to exceed the evolving expectation of the high-end commercial image content creation industry. * Features collectively contribute to improved energy efficiency, reduced maintenance costs, and an extend
Slide 6: New Light Shaping Tools launched: Zoom Rod S & Fresnel Small
New Light Shaping Tools launched to further expand the creative toolkits: Zoom Rod S & Fresnel Small oO Profoto The light shapi
Slide 7: New LED product, L1600D, well received by customers when presented at Cine Gear
New LED product, L1600D, well received by customers when presented at Cine Gear ¢ HydroCTech™ cooling technology enables product without ballast reducing weight and complexity in set-up * Gives an unparalleled power-to-weight ratio leads to high speed of use * Mono-LED is an innovation harnessing 97
Slide 8: Large share of sales consistently comes from new products
Large share of sales consistently comes from new products 66% 65% 60% 58% 48% . ; 2018 2019 2020 2021 2022 2023 2024 LIM 8 Profoto The light shaping company
Slide 9: Increased investment in R&D to drive long-term growth
Increased investment in R&D to drive long-term growth HB R&D Spend, SEKm = R&D Spend/Net sales, % 16% 2018 2019 2020 2021 2022 2023 2024 LTM 9 Profoto The light shaping company
Slide 10: Double digit growth in EMEA and APAC in a weak market
Double digit growth in EMEA and APAC in a weak market Americas no Q2 2023 Q2 2024 ay 8 > - Profoto 7 : The light shaping company j Lg Photo credit: JuliabeRobertis
Slide 11: Net sales and EBIT Q2
Q2 2024 35% of ~~ 1% EBIT Q2 nF” ~ > _ SEK 36m (47) o NA 88 -23% 187 ds 2 204 N20% iGo, Net sales Q2 EBIT margin SEK 196m (182) Q2 7%! 19% (26) a2 @3 G4 Qi @2 G3 a4 a @ 2022 2023 2024 Hl Sales = Adj. EBIT margin o Profoto n 1. Organic growth 8%. The light shaping company
Slide 12: Last twelve months
12 Last twelve months 31% 31% 29% 30% 30% 20% 26% EBITLTM woo ous 80 I SEK 156m (265) 7S 787 -A1% Net sales LTM EBIT SEK 742m (876) marginLTM “15%! 21% (30) Q2 Q3 Q4 Qt @Q2 Q3 4 a aQ2 2022 2023 2024 Ml Sales LTM © Adj, EBIT margin LTM &Profoto 1. Organic growth -16%. The light shaping company
Slide 13: Operating cash flow
Operating cash flow Operating cash conversion at normal level 16% 93% 75% 89% 105 rama 67% 58% 80 54% 64 65 = 20% 29 aye 34 B ] 13 1S Operating cash flow, SEKm | || © Operating cash conversion Q2 Q3 Q4 Qi Q2 Q3 Q4 Qi Q2 2022 2023 2024 C\Profoto The light shaping company
Slide 14: Return on operating capital
Return on operating capital Return on operating capital declined due to continued investments in R&D and low profit LTM 116% 92% 84% 72% 49% L ; —= a 4% 2018 2019 2020 2021 2022 2023 LT C\Profoto The light shaping company
Slide 15: Strong balance sheet gives flexibility to invest for growth and return capital to shareholders
Strong balance sheet gives flexibility to invest for growth and return capital to shareholders MH Net debt, SEKm = Net debt/EBITDA 0.9 206 0.2 Q2 Q3 Q4 15 100 88 62 a fo s [| Q4 Qi Q2 2024 Profoto The light shaping company
Slide 16: Remain committed to our financial target, even though they were not met LTM
Remain committed to our financial target, even though they were not met LTM. Target 2024 LTM 2023 10% -16% 13% Profoto 16 The light shaping company EBIT margin Organic sales growth Dividend policy
Slide 17: Questions
Questions /@/Profoto 7 Photo credit: Edward Alba The light shaping company~
Slide 18: Third quarter report, October 24, 2024
18 Third quarter report, October 24, 2024 Head of IR | se Amanda Astr6m amanda.astrom@profoto.com icy Profoto The light shapi
Slide 19: (#) ™
(#)Profoto The light shaping company™