Financial summary July –
- Net sales totaled
SEK 235m (189), an increase of 23.9 percent. Organic growth totaled 6.5 percent. - EBIT totaled
SEK 66m (58), an increase of 14.0 percent and the EBIT margin totaled 28.0 percent (30.4). - Profit for the period increased to
SEK 54m (45). - Cash flow from operating activities totaled
SEK 64m (43). - Earnings per share (basic and diluted) totaled
SEK 1.34 (1.11).
Financial summary January –
- Net sales totaled
SEK 618m (514), an increase of 20.1 percent. Organic growth totaled 5.1 percent. - EBIT totaled
SEK 169m (133), an increase of 26.5 percent, and the EBIT margin totaled 27.3 percent (25.9). - Adjusted EBIT improved to
SEK 177m (158). Adjustments for the period were related to acquisition costs ofSEK 8m . Adjustments for the period 2021 related to IPO expenses ofSEK 25m . The adjusted EBIT margin totaled 28.6 percent (30.7). - Profit for the period increased to
SEK 130m (98). - Cash flow from operating activities totaled
SEK 157m (139). - Earnings per share (basic and diluted) totaled
SEK 3.24 (2.45).
Key ratios, Group | ||||||
Jul – | Jul – | Jan – | Jan – | Full year 2021 | ||
Net sales, SEKm | 235 | 189 | 618 | 514 | 836 | 732 |
Net sales pro forma*, SEKm | – | 207 | 642 | 572 | 890 | 820 |
EBIT, SEKm | 66 | 58 | 169 | 133 | 248 | 212 |
EBIT pro forma*, SEKm | – | 58 | 169 | 132 | 252 | 215 |
EBIT margin, % | 28.0 | 30.4 | 27.3 | 25.9 | 29.6 | 28.9 |
EBIT margin pro forma*, % | – | 28.0 | 26.3 | 23.1 | 28.3 | 26.2 |
Adjusted EBIT, SEKm | 66 | 58 | 177 | 158 | 255 | 237 |
Adjusted EBIT margin, % | 28.0 | 30.4 | 28.6 | 30.7 | 30.5 | 32.3 |
Profit/loss for the period, SEKm | 54 | 45 | 130 | 98 | 189 | 158 |
Cash flow from operating activities, SEKm | 64 | 43 | 157 | 139 | 258 | 240 |
Net debt, SEKm | 65 | -46 | 65 | -46 | 65 | -134 |
Net debt/EBITDA LTM | 0.21 | -0.19 | 0.21 | -0.19 | 0.21 | -0.50 |
Earnings per share | 1.34 | 1.11 | 3.24 | 2.45 | 4.73 | 3.95 |
* Pro forma includes
CEO comment
A robust quarter for
The third quarter has been characterized by robust growth and profitability. Sales for the third quarter of 2022 totaled
Key markets are doing well
As we previously communicated, an important part of Profoto’s post-pandemic recovery has been the extent to which societies have opened up. It is therefore a positive indication that
At the same time, there are countervailing forces in the market, such as inflation, rising electricity prices and rising interest rates. The negative outlook for the world economy has led to a cautious approach to investments among freelance photographers. Many e-commerce companies have also seen declining demand, which results in delayed investment decisions. The general concern about the world economy was particularly noticeable in
Strong offering to e-commerce companies
E-commerce companies continue to develop their operational processes for creating content for their websites. Good lighting produces better images; this drives sales and reduces returns by bringing out the true colors and textures of garments. Many major brands continue to invest in their own studios to quickly produce content for their online websites and generate continued sales. With Profoto’s products combined with StyleShoots’ solutions consisting of hardware and software, we are well positioned for this trend.
Well equipped for the future
In a time of global unrest, high inflation and geopolitical uncertainty, there is a significant risk that demand will be negatively affected in the short term. However, with a solid balance sheet and strong cash flow,
Sundbyberg,
Anders Hedebark
President and CEO
Conference call
CET the same day, a webcast teleconference will be held where Anders Hedebark, President and CEO, will present the report together with
You can also follow and listen to the presentation and the conference via the following link: https://ir.financialhearings.com/
profoto-q3-2022.
© Modular Finance, source