Product availability impacts Ringfoto sales in 2024

European photo cooperative Ringfoto reported  total revenue of €516.9 million in 2024, marking a 3.4% decrease (€18.5 million) from the previous year, primarily due to scare products.  Warehouse sales increased by 5.1% to €390.8 million, while direct shipments (centralized billing) fell by 22.9% to €126.2 million. The overall group revenue, including subsidiaries in Austria and the Netherlands, declined by 3.5% to €609.4 million, primarily due to product availability issues.

Despite the sales report, the group maintains a dominant position in Germany with a market share of over 70% and an external revenue exceeding €1.5 billion, according to the report. The company continues to expand, adding new photo retailers, particularly from the Netherlands. As of Dec. 31, 2024, Ringfoto had 968 members (down from 1,028 in 2023) with 1,229 retail locations and the number of shareholders decreased by 24 due to business transitions, acquisitions, and retirements.

Among the initiatives described in the report, Ringfoto, in collaboration with the E-Passbild Working Group, is finalizing the launch of alfo.passbildes, a cloud-based passport photo solution. This aligns with new regulations from May 1, 2025, requiring digital submissions instead of printed passport photos.

As previously reported, Ringfoto has launched its alfo brand for centralized services. The brand will include the alfo.passbild service and the new alfo photo products online store.

Despite overall weakness in the lens market, Voigtländer product grew by 5.4%, capturing a 33.1% market share, making it the leading brand in this segment. Revenue is expected to rise by 27% in 2025 to approximately €5 million, driven by new product launches. The group reported the overall lens market saw a 1.3% decline in 2024, with fixed focal lenses dropping 4.6%.

“The year 2025 will be a decisive year for us and our members,” said Thilo Röhrig, managing director of RINGFOTO GmbH & Co. KG. “Together with our industry partners, we have initiated numerous projects and initiatives to further strengthen and support the photo retail trade in our core markets.”