Germany's CEWE Q1 EBIT falls 8.2% on higher costs

CEWE Stiftung & Co KGaA

12/05/2026 06:13

Overview

Germany photo service provider's Q1 2026 revenue rose 1.4% yr/yr to a new Q1 high

Q1 EBIT declined 8.2% yr/yr, reflecting increased personnel and marketing expenses

Company agreed to sell Commercial Online-Print division to Cimpress, focusing on photofinishing

Outlook

CEWE confirms its 2026 annual targets following Q1 results

Company expects improved profitability after sale of Commercial Online-Print division

CEWE plans further investments and acquisitions in core Photofinishing business

Result Drivers

PHOTOBOOK SALES - CEWE PHOTOBOOK volumes grew 2.2% to 1.33 mln units, supporting photofinishing revenue growth

HIGHER COSTS - EBIT was impacted by increased personnel costs from a recent wage agreement and higher marketing expenses, especially in international markets

INNOVATION RECOGNITION - Company received four TIPA World Awards, highlighting its focus on product innovation

Company press release: ID:nEQ7Z0Fkna

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
EUR 175.8 mln
Q1 EBIT
EUR 5.6 mln


Analyst Coverage

The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the commercial printing services peer group is "buy."

Wall Street's median 12-month price target for Cewe Stiftung & Co KGaA is €140.00, about 41.8% above its May 11 closing price of €98.70

The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)