Smartphoto Group reports improved six-month sales and profit

Wetteren, Belgium-based Smartphoto Group reported revenues for the first six months of 2022 increased 39.1% from €21,060,000 to €29,304,000. The growth was driven by internal growth and the integration of gifting platform naYan. The company said profitability increased strongly compared to a year earlier due to a better product mix and price adjustments, notwithstanding higher production, transport, and material costs.

EBITDA increased from €965,000 in the first half of 2021 to €3,238,000 as of June 30, 2022. Net profit over the first half of 2022 was €975,000 compared to a net loss of €824,000 a year earlier.

The company says the further expansion of the product range of personalized products and gifts, with photo and/or text, including products for pets and pet owners and new designs in themes related to pets, gift boxes to surprise friends and family, products made of natural materials, etc., and an acceleration in the launch of new products, have led to this further growth in revenue and profitability.