Inflation Uncertainty Shapes CEWE's Forecast for the Current Fiscal Year

The Oldenburg-based company Cewe, known for its photo services, indicates a certain caution in its economic forecast for the current year. In the face of rising inflation rates, the SDax-listed group presents a prudent assessment: revenue in 2024 could be between 770 and 820 million euros, thus potentially surpassing or falling short of the previous year's figure. Similarly uncertain is the outlook for the operating result, the EBIT, which is expected to be between 77 and 87 million euros, thereby also bearing the possibility of exceeding or not reaching last year's level. The reasons for this vague forecast stem from the uncertainty caused by inflation and its consequences for business development. Despite the cost increases due to inflation, Cewe has so far not noticed any negative effect on customer ordering behavior, which could be a hopeful sign. Experts had anticipated forecast values closer to the higher end of the range provided by the company. Looking back at the last fiscal year, Cewe, including the sale of its subsidiary Futalis in December, recorded a revenue increase of 6.5 percent to 788.8 million euros. Without Futalis, the revenue stood at 780.2 million euros. Including Futalis, the operating result rose from 75.6 million to 81.6 million euros, while without the subsidiary, it was specifically 83.9 million euros. Net profit climbed by twelve percent to 57.3 million euros. As a result, the company sees itself in a position to raise the dividend from 2.45 to 2.60 euros per share, a move that had already been communicated in advance. With these figures behind it and a cautious outlook on the future, Cewe moves into a year that demands just as much prudence from all market participants.