Profoto Holding AB (publ) (PRFO) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

My name and I'm head of Investor Relations. Today I have with me our CEO Anders Hedebark and our CFO Linus Malmstad. I'll now hand over to Anders who will start off by giving you a summary of the quarter. Good morning everyone. Thank you for joining in and listening in to our third quarter report. So sales was not good in the quarter. It decreased by 28% to 119 million Swedish crowns. The organic growth was negative with the 23%. And the reason for this is the uncertainty in the macroeconomic situation, especially in the United States. But also we had a dealer inventor build up in previous quarter. And consequently, EBIT is not good either. We are losing 10 million Swedish crown, which is 8% minus EBIT margin. And as we said, it's negative sales, but also we are having a higher cost of goods sold due to the tariffs in the United States. And we also have a changed relationship between capitalization, depreciation, and Linus will cover that in more detail. Let's go to the next slide, please. So weak demand in our larger markets for the quarter. So we had, as I said, we could explain partly the lower US sales by a larger sell in prior to the new tariffs and consequently the price increases in the United States. And that's one of the reasons, but also we see a lower customer demand. And customers are not only cautious in the United States, but also in Europe. And this has the same reasons. On the other hand, we see a slightly better effect in Asia Pacific, especially in China. But this is due to a number of major larger customer deliveries that is driving this positive development. So all in all, we have a negative or sales decline by 22.6% for the group. Americas is down severely with 40%, EMEA 15%, and APAC is a plus 10%. In addition to this, we also have a currency ef...