CEWE Stiftung & Co. KGaA Announces Positive Financial Growth in 2023 and Optimistic Outlook for 2024

CEWE Stiftung & Co. KGaA, a leading photo service and online printing provider in Europe, has reported a substantial increase in its turnover and earnings for the financial year 2023. According to the company, the turnover rose to €780.2 million, with EBIT reaching €83.9 million. This impressive growth has led the company to propose a dividend of €2.60 per share for 2023, marking the 15th consecutive year of dividend increases.

Looking ahead to 2024, CEWE has set ambitious targets, expecting turnover to reach between €770 million to €820 million, and EBIT to fall within €77 million to €87 million. This optimistic forecast is supported by the company’s successful photofinishing segment, which saw significant growth thanks to strong Christmas sales and increasing demand for photo products like the CEWE PHOTOBOOK. Moreover, the commercial online-print segment reported profitable growth, with an EBIT margin of 4.5%.

CEWE's financial health is further highlighted by an improved equity ratio of 58.4% and a robust free cash flow reaching €82.8 million. With these results and the planned growth, CEWE continues to showcase its stability and capacity for sustained success in the photo service and online printing markets.