EQS-Adhoc: CEWE Stiftung & Co. KGaA: CEWE divests Commercial Online-Print and focuses on growth in its core Photofinishing business

CEWE divests Commercial Online-Print and focuses on growth in its core Photofinishing business

Oldenburg, 11.05.2026 CEWE Stiftung & Co. KGaA ("CEWE") has divested its Commercial Online-Print business, including SAXOPRINT’s production facility in Dresden and the sales units viaprinto and LASERLINE, to Cimpress plc (Nasdaq: CMPR). The purchase agreement was signed today.

Through this transaction, CEWE is sharpening its profile as a leading provider of premium photo products and is concentrating capital and management focus on its core Photofinishing business.

Based on the 2025 figures, CEWE expects an improvement in margin quality. On a pro forma basis, the Group EBIT margin excluding Commercial Online-Print would be approximately 11.2% (instead of 10.2%). On the same pro forma basis, return on capital employed (ROCE) for 2025 would increase by 2 percentage points to 19.6% (instead of 17.6%). The capital released through the transaction will be deployed in a value-oriented manner. The focus will be on the further development of the core Photofinishing business, selective acquisitions in Photofinishing, the continuation of the share buyback programme and a continued reliable dividend distribution.

Completion of the transaction is subject to the usual closing conditions, particularly regulatory and antitrust approvals, and is expected during the second half of 2026. The parties have agreed not to disclose the purchase price.

In the 2025 financial year, the Commercial Online Print business generated revenue of EUR 89.6 million, EBITDA of EUR 8.8 million, EBIT of EUR 1.7 million and EBT of EUR 0.9 million.

Upon completion of the transaction, CEWE Stiftung & Co. KGaA will receive a cash inflow that exceeds the current book value of the Commercial Online-Print division. After accounting for the disposal of the assets and liabilities allocated to this business segment, including goodwill, CEWE Stiftung & Co. KGaA expects to recognise a gain on the sale of the discontinued business in the mid-double-digit million-euro range.

With the sale agreement now signed, the Commercial Online-Print business segment will be classified as discontinued operations and removed from the Group income statement in accordance with IFRS 5. CEWE Group is therefore adjusting its 2026 planning for the continuing operations as follows: Group revenue is expected to grow by up to 4% in 2026 and is projected in a range of EUR 780 million to EUR 810 million (pro forma revenue 2025: EUR 777.0 million). Group EBIT for 2026 is expected to be between EUR 85 million and EUR 91 million (pro forma EBIT 2025: EUR 86.0 million), EBT between EUR 84.5 million and EUR 90.5 million (pro forma EBT 2025: EUR 87.0 million), and net income after taxes from continuing operations between EUR 57 million and EUR 62 million (pro forma net income after taxes 2025: EUR 57.7 million). In setting these targets, CEWE’s management is guided in each case by values in the upper half of the respective ranges, while the lower ends of the corridors primarily reflect exogenous uncertainties beyond the company’s control.

This announcement contains forward-looking statements based on current assumptions and subject to risks and uncertainties.

Notifier: Axel Weber, Head of Group Controlling & Investor Relations

CEWE Stiftung & Co. KGaA

2325168  11-May-2026 CET/CEST