CEWE: Sales and earnings further increased, targets achieved (preliminary results)

According to preliminary, as yet unaudited figures, CEWE Stiftung & Co. KGaA concluded the 2024 financial year with a significant increase in sales and earnings: Group sales increased by +6.7% to EUR 832.8 million (2023: EUR 780.2 million). CEWE thus exceeded its own target for 2024 of up to EUR 820 million in sales. The CEWE Group’s operating result (EBIT) rose to EUR 86.1 million (2023: EUR 83.9 million ), reaching a value at the upper end of the planned target corridor of EUR 77 to 87 million.

“With an outstanding team performance from all employees, we once again made millions of people across Europe happy with photo products in the 2024 financial year that has now passed,” said Yvonne Rostock, chairwoman of the Board of Management of CEWE Stiftung & Co. KGaA. “We continued to grow in 2024 in line with our strategic priorities with a focus on innovation, brand strength, efficiency and sustainability. The CEWE Group has once again invested more in the market, inspiring many people to create and share photo products of the highest quality and full of personal memories. This topline growth makes us very proud and shows how well CEWE has held up in a challenging macroeconomic environment characterized by recession, cost increases and increasing regulation.”

Strong Christmas business secures annual success

CEWE’s traditional seasonal peak in the fourth quarter of Christmas business also made a significant contribution to the company’s annual success in 2024: Group sales increased by +7.4% to EUR 351.2 million in the fourth quarter (Q4 2023: EUR 327.0 million). The CEWE team managed to meet the customer orders that were arriving later and later, just before Christmas. Efficiency improvements in production, site expansions and new printing and shipping technologies were successfully used. Group EBIT in Q4, at a strong EUR 80.6 million, once again accounted for most of the annual result (Q4 2023: EUR 81.6 million). CEWE was thus able to assert itself again in the competitive environment in the Christmas business that has now passed thanks to the premium quality of its innovative products, the strong positioning of all CEWE brands, and the strong investments in the market.

CEWE photo products will continue to be in increasing demand in 2024

In the past financial year, CEWE was once again able to successfully convert the high volume of images, which is generally due to smartphone photography, into its business growth: The total number of photos across all CEWE products rose by +1.7% to 2.43 billion units in the reporting year (2023: 2.39 billion photos). In the past Christmas business, many product and software innovations – such as the panoramic page in the CEWE PHOTO BOOK, the photo domino, large photo puzzles with up to 2,000 pieces and many other new photo gifts, the new editor in the ordering software or the new passport photo app – again strengthened the Christmas business.

All information on the 2024 financial year is based on preliminary, unaudited data. The complete, audited 2024 annual financial statements with details on the results by business area and the 2025 planning will be presented at the annual press and analyst conference on March 27, 2025.

Full year 2024 compared to previous year and target (preliminary figures)

Fourth quarter of 2024 (preliminary figures)

Percentage deviations are generally calculated using the exact values

* without taking into account the (sales-increasing, but result-neutral) switch of a trading partner supplied by CEWE to commission-based billing