February 7, 2019

Cewe announces strong results for 2018

Cewe Stiftung & Co. KGaA, the European print service provider, continued its growth course in 2018. With revenues up 9 percent to Euro 653.3 million and the operating result (EBIT) improving by 9.2 percent to Euro 53.7 million, the company completely matched its sales and earnings targets, Cewe said in a press release. The new record was driven by further growth in the Cewe Photobook and strong demand for photo gifts, as well as the trend towards taking pictures with mobile devices and using apps.

The fourth quarter of 2018 was particularly strong, with Cewe generating sales of Euro 261.6 million (+11.6 percent) and an operating result (EBIT) of Euro  55.7 million (+20 , 8 percent).

“We have geared our capacity planning to the peak of the season,” commented Cewe CEO Dr. Ing. Christian Friege. “A big thank you to all the colleagues whose impressive commitment made this result possible again. Around the clock, the Cewe team has delivered outstanding customer satisfaction with top-quality products and and reliability despite the extremely high capacity utilization of our production operations. We would like to thank our customers for their confidence in us.”

With a quantity of 6.18 million units, sales of Cewe Photobooks exceeded the target corridor of 6.08 million to 6.14 million copies. The number of photos processed reached 2.23 billion pieces, also above the management’s plan of 2.12 billion to 2.14 billion pieces.

Cewe’s new products presented at  photokina, including the “hexxas” - hexagonal photo tiles, wthat can be fixed to the wall with magnets, received very good customer feedback. The cover finishes for the Cewe Photobook, e.g. in gold, silver or effect paint, for which Cewe had been awarded the prestigious TIPA World Award for “Best Photo Print Service Worldwide”, created enthusiasm among Cewe’s customer during the Christmas business.

Cewe will present the complete, audited annual financial statements at a press and analyst conference on March 28, 2019 in Frankfurt/Main, Germany.

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