Smartphoto Group earnings up 21.1 percent

Smartphoto group, the e-commerce group from Wetteren, realized an increase in revenue of 76.3 million euro in 2022, up 21.1% (or 13.2 million euro) as the result of the organic growth of smartphoto (+1.5%) on one hand and of the inclusion of the figures of naYan for the entire year 2022 on the other. In 2021 the naYan figures were included in the consolidated figures for the month of December only.

Smartphoto succeeded to increase its profitability in 2022 compared to 2021, through, among other things, a better product mix and further price adjustments, notwithstanding higher production, transport and material costs. With a turnover of 15.5 million euro (1) and an EBITDA of 2.7 million euro (1) the B2B division (naYan) contributed to the group’s growth and profitability from the first full year onwards. At naYan, which already had strong profitability, both systems and processes were improved, and the second year half showed the first results of a higher focus on growth, the company said. For instance, naYan realized a strong increase in its international footprint as well as great omnichannel projects for existing and new customers.

For the full year 2022 the EBITDA amounts to 13.0 million euro, compared to 10.2 million euro in 2021, or an increase of 27.3%. Organic EBITDA growth, excluding naYan for both 2021 and 2022, amounts to 9.6%. Taking 2019 as a comparable year, without any impact of the pandemic, the revenue of smartphoto group has increased from 51.5 million euro to 76.3 million euro, an increase of 48.3%. The EBITDA has increased from 8.8 million euro in 2019 to 13.0 million euro in 2022, an increase of 47.6%. With a compound annual growth rate (CAGR) of 14.0% in revenue over the period from 2019 to 2022, and 13.9% in EBITDA, smartphoto group again confirms solid growth in 2022.

Smartphoto group, the innovative e-commerce group, is active under the name smartphoto in 12 European countries in B2C e-commerce with affordable, high-quality personalized products such as gifts, cards, photo books, photo calendars, prints, and wall decoration. Additionally, smartphoto group, through naYan, active in B2B e-commerce, is one of the market leaders in e-commerce distribution in Europe by offering a unique ‘e-commerce as a service’ (EAAS) for international brands looking for growth, and sale to companies of personalized gift packages with chocolate, alcohol, fruit or flowers through websites such as and