Q3 2025 Cewe Stiftung & Co KGaA Earnings Call Transcript
Key Points
- CEWE Stiftung & Co KGaA (WBO:CWC) reported a group turnover increase of more than 6%, slightly above expectations.
- The company confirmed its annual targets for 2025, indicating confidence in achieving its financial goals.
- The CEWE photo book segment experienced a volume growth of 7.3%, with turnover growth even stronger at almost 9%.
- The company is well-prepared for the Christmas season, with increased production capacity and new product features.
- The CEWE photo book was recognized as the favorite design of the year by professional photographers, enhancing brand reputation.
- The group's EBIT is slightly below last year's figures, partly due to one-off effects and cost challenges.
- There are ongoing cost increase challenges, particularly in IT and marketing expenses.
- The commercial online print segment is still facing challenges, with international growth not as profitable as domestic turnover.
- Free cash flow decreased by EUR14.5 million year-to-date compared to the previous year, reflecting lower earnings and increased investments.
- The retail segment, while experiencing turnover growth, has low margins and is not a significant driver of overall business profitability.
Good morning, ladies and gentlemen, and welcome to today's analyst conference call of the CIVE Group. Following the publication of the Q3 financial results of 2025. I am delighted to welcome the CEO Thomas Mez and CF Oia Kahnse with Vice President Axel Weber in the room, who will speak in a moment and guide us through the presentation and the results.
But before I hand over to the management board, please note that you have the option of switching your camera on and off by yourself. In this case, you will be visible during the entire presentation, but not on the recording. And the recording will be stopped after the presentation and before the Q&A session.
Having said this, Mr. Meares, the stage is yours.
Yes, thank you very much for your welcome, and I wish you all a very warm welcome on behalf of Zuker Hintze and Axel Weber, who, whom you will not see, but he's in the room, controlling us a little bit, I would say. So I hope you're all
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