Report

CEWE Stiftung & Co. KGaA : Solid Q3 despite a further seasonal shift of sales and earnings into Q4 and negative earnings contributions from new subsidiaries

>Seasonal shift reinforced by hot summer - CEWE issued its Q3 2018 report on 13 Nov. Due to the first consolidation of Cheerz and Laserline in Q1 2018, Q3 sales were up 5.3% to € 137.2m (Q3 2017: € 130.3m), somewhat below our expectation. In recent years we have observed a seasonal shift in the Photofinishing segment which has generally led to declining revenue shares in Q2 and Q3 and increasing revenue shares in Q1 and especially Q4. This year, this shift was even re...
Underlying
Cewe Stiftung & Co KGAA

CEWE Color is involve in the industrial photofinishing of analogue photos and digital photo products. Co. operates in three business areas: Photofinishing, Retail, and Online Printing. Photofinishing involves Co.'s photo products business is based on digital data. Co.'s products include CEWE PHOTOBOOK, CEWE CALENDARS, CEWE CARDS and CEWE WALL ART. Co.'s Proprietary Retail business has multi-channel retailing operations in Poland, the Czech Republic, Slovakia, Norway and Sweden. Co.'s Online Printing business includes its CEWE PHOTOBOOK software.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

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