Q2 2024 Cewe Stiftung & Co KGaA Earnings Call Transcript
Key Points
- CEWE Stiftung & Co KGaA reported a 7.3% increase in group turnover, reaching EUR 317 million, surpassing their growth target of 5% for 2024.
- The Group EBIT increased significantly by EUR 4.3 million to EUR 5.4 million, indicating strong financial performance.
- The company's Net Promoter Score (NPS) increased by 0.9 points to 62.7, reflecting improved customer satisfaction.
- CEWE Stiftung & Co KGaA was recognized as a sustainability leader and released its 14th sustainability report, highlighting its commitment to environmental and social responsibility.
- The photofinishing segment saw a 10% increase in turnover, driven by a 3% increase in volume and a 5% increase through premiumization and price adjustments.
- The Group EBIT for Q2 was traditionally negative, with a remaining loss of EUR 2.7 million, although this was an improvement from the previous year.
- The commercial online print segment experienced a 3% decline in turnover, reflecting challenges in this market segment.
- The retail business saw a 4.2% decline in turnover, indicating a shift away from hardware sales towards photofinishing.
- The company faced increased personnel expenses, rising from EUR 50.1 million to EUR 54.4 million, due to higher staffing levels and wage increases.
- Operating expenses increased by EUR 6 million, driven by changes in sales structure and increased marketing efforts.
Good morning, ladies and gentlemen, and a warm welcome to today's earnings call of the Cewe Group following the publication of the first half year figures of 2024. Currently note that you have the option of switching on your camera yourself. But please bear in mind that in this case it will be visible during the entire presentation, but not on the recording. So this call will be recorded and stopped due to Q&A session. So having said this, I'm delighted to welcome CEO, Yvonne Rostock; as well as CFO, Olaf Holzkämper. So the management board will speak shortly and guide us through the presentation. And afterwards, we will have a Q&A session.
So having said this, Dr. Holzkämper I hand over to you.
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Yes. Thank you very much and a warm welcome also from our side to today's call of the Q2 numbers of these Cewe Group. I've just had a quick look at the number of participants, and it looks like a very elite smaller group we are seeing today, which to some degree from due to the fact that
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