Cewe reports improved results for 2020

The imaging and printig servce provider, Cewe, Oldenburg, Germany, has closed the 2020 financial year with a significant increase in earnings.  According to a press release, the first, unaudited figures indicate group sales of around Euro 727 million, one percent more than 2019. The operating result (EBIT) increased disproportionately by 39 percent to approx. Euro 79 million, mainly due to strang demand during the holiday season.

In this period, the photofinishing business continued to benefit from the fact that people are spending more time at home because of the corona pandemic. As a result, growth in all product categories more than offset the negative effects that Cewe had to accept due to the COVID-19-restrictions in the Commercial Online Printing and Retail businesses.

As usual, Cewe plans to publish the preliminary, also unaudited figures for the 2020 financial year in February. The complete, audited annual financial statements will be presented at the annual press and analyst conference on March 25, 2021.