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

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WEBVTT 00:00:00.031 -- 00:00:03.435 My name and I'm head of Investor Relations. 00:00:03.435 -- 00:00:09.561 Today I have with me our CEO Anders Hedebark and our CFO Linus Malmstad. 00:00:09.561 -- 00:00:15.528 I'll now hand over to Anders who will start off by giving you a summary of the quarter. 00:00:15.528 -- 00:00:22.493 Good morning everyone. Thank you for joining in and listening in to our third quarter 00:00:22.776 -- 00:00:24.398 report. 00:00:24.398 -- 00:00:30.742 So sales was not good in the quarter. It decreased by 28% to 119 00:00:31.045 -- 00:00:34.628 million Swedish crowns. 00:00:34.628 -- 00:00:38.772 The organic growth was negative with the 23%. 00:00:38.772 -- 00:00:40.374 And the 00:00:40.374 -- 00:00:45.900 reason for this is the uncertainty in the macroeconomic situation, 00:00:45.900 -- 00:00:50.925 especially in the United States. But also we had a dealer inventor build 00:00:50.925 -- 00:00:55.739 up in previous quarter. And consequently, 00:00:55.739 -- 00:01:01.447 EBIT is not good either. We are losing 10 million Swedish crown, which is 8% 00:01:01.447 -- 00:01:04.369 minus EBIT margin. 00:01:04.773 -- 00:01:10.438 And as we said, it's negative sales, but also we 00:01:10.481 -- 00:01:15.649 are having a higher cost of goods sold due to the tariffs 00:01:15.649 -- 00:01:21.332 in the United States. And we also have a changed relationship between capitalization, 00:01:21.332 -- 00:01:24.784 depreciation, and Linus will cover that in more detail. 00:01:24.784 -- 00:01:26.784 Let's 00:01:27.192 -- 00:01:30.295 go to the next slide, please. 00:01:33.468 -- 00:01:37.617 So weak demand in our larger markets for the quarter. 00:01:37.617 -- 00:01:41.080 So we had, as I said, 00:01:41.665 -- 00:01:46.956 we could explain partly the lower US 00:01...