CEWE Stiftung & Co KGaA (HAM:CWC)

Q1 2025 Cewe Stiftung & Co KGaA Earnings Call Transcript

May 13, 2025 / 10:59 AM GMT

Release Date Price: €100.8 (-2.14%)

Transcript

Key Points

Positve

CEWE Stiftung & Co KGaA (XTER:CWC) reported a 4.8% increase in turnover, driven primarily by the photofinishing segment.
The company achieved a record number of awards, including six TIPA Awards and a Red Dot Award, highlighting their innovation and product quality.
The photofinishing segment saw a 5% growth in volume, with an increase in the value per photo, indicating successful premiumization.
The commercial online print segment managed a 3% turnover growth despite challenging market conditions, showcasing resilience.
The company maintains a strong balance sheet with an equity ratio of 68.2%, providing a solid foundation for future growth.

Negative

The EBIT for Q1 2025 was slightly lower than the previous year, attributed to increased marketing and HR expenses.
The commercial online print market is facing headwinds, which could impact future growth in this segment.
The company's cash position, while strong, has not yet been effectively utilized for significant investments.
There was a decrease in operating cash flow by 11.5 million euros, attributed to higher trade payables from the previous year's Christmas business.
Investments in the photofinishing production sites have increased capital employed, which could pressure returns if not managed effectively.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

CWCG.DE - Cewe Stiftung & Co KGaA
Q1 2025 Cewe Stiftung & Co KGaA Earnings Call
May 13, 2025 / NTS GMT

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Presentation
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Unidentified_1 [1]
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Good morning, ladies and gentlemen, and welcome to today's earnings call of the CB Group following the publication of the Q1 figures for 2025.

Kindly note that you have the option of switching on your camera yourself, but please bear in mind that you will be visible during the entire presentation, but not on the recording.

The recording will be stopped to the Q&A session and having said this, I am delighted to welcome the CEO Thomas Meiz, CFO Doctor Olaf Holz Kemper, as well as the Vice President investor relations, Axel Weber.

The management board will speak in a moment and guide us through the presentation and the figures. After the presentation, we will move on to a Q&A session in

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