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CEWE Stiftung & Co. (CWC) investor relations material
CEWE Stiftung & Co. Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q1 2026 revenue increased by 1.4% year-over-year to €175.8 million, with EBIT at €5.6 million, confirming annual targets and setting a new first-quarter record.
Announced the sale of the Commercial Online-Print segment to Cimpress, focusing future growth on Photofinishing and premium brand strategy.
Pro forma 2026 targets (excluding Commercial Online-Print): revenue €780–810 million, EBIT €85–91 million, with a one-time gain expected from the sale.
Won four TIPA World Awards, highlighting innovation leadership.
Financial highlights
Q1 2026 group revenue: €175.8 million (+1.4% YoY); EBIT: €5.6 million (down from €6.1 million YoY).
Photofinishing Q1 revenue: €147.3 million (+1.7% YoY); EBIT: €5.1 million (down from €5.6 million YoY).
Commercial Online-Print Q1 revenue: €22.1 million (+0.9% YoY); EBIT: €0.5 million (down from €0.7 million YoY).
Retail Q1 revenue: €6.4 million (-3.7% YoY); EBIT: -€0.1 million (improved from -€0.2 million YoY).
Equity ratio at 70.8% as of March 31, 2026; total assets increased by €17.6 million to €639.5 million.
Outlook and guidance
2026 revenue guidance (excluding Commercial Online-Print): €780–810 million; EBIT: €85–91 million; EPS: €8.43–9.16.
Earnings after tax expected at €57–62 million, with additional one-time gain from the sale.
Sale of Commercial Online-Print expected to improve EBIT margin and ROCE for continuing operations.
Continued focus on Photofinishing, with investments in technology, efficiency, and selective acquisitions.
Ongoing share buyback and increasing dividend policy, with a proposed dividend of €3 per share (+€0.15 YoY).
- Record 2024 results and strong 2025 outlook fueled by photofinishing and innovation.CWC
Company presentation26 Apr 2026 - Record revenue and EBIT achieved, with photofinishing driving growth and a 17th dividend increase.CWC
Q4 202526 Mar 2026 - Turnover and EBIT rose 6.3% and 137%, with annual targets confirmed for 2024.CWC
Q3 202414 Jan 2026 - Q3 2025 revenue up 6.1%, annual targets confirmed, and Q4 expected to drive earnings.CWC
Q3 202525 Nov 2025 - H1 2025 revenue rose 4.0%, with targets reaffirmed despite EBIT and net income declines.CWC
Q2 202522 Aug 2025 - Turnover and EBIT surged in H1 2024, driven by Photofinishing and higher equity.CWC
Q2 202413 Jun 2025 - Q1 turnover up 4.8%, EBIT in line, and 16th consecutive dividend increase proposed.CWC
Q1 20255 Jun 2025 - Record results and strong outlook, with continued growth and dividend increases expected.CWC
Q4 20245 Jun 2025
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