Core photo-finishing remained the main growth engine: Second-quarter segment revenue rose 7.5%, supported by higher volumes and premiumization, while photo-book revenue increased 3%. CEWE reaffirmed its 2026 revenue outlook of EUR 782 million to EUR 810 million and unchanged EBIT guidance. Kodak Moments acquisition would expand CEWE internationally: The proposed deal has an enterprise value of about EUR 88 million and is expected to close within six to 12 months, subject to approvals.
It would add roughly EUR 200 million in revenue, 16,000 direct points of sale and operations across the U.S., Mexico, Canada and Australia. Portfolio reshaping is nearing completion: CEWE completed the sale of its commercial online-print business to Cimpress on July 2, allowing greater focus on photo finishing and consumer brands. First-half free cash flow was negative EUR 18.3 million due mainly to working-capital effects, supplier payments and SAP implementation costs.
KGaA (ETR:CWC) reported a stronger second quarter in its core photo-finishing business and reaffirmed its 2026 outlook, while outlining plans to expand internationally through the proposed acquisition of Kodak Moments and completing the sale of its commercial online-print operations. CEO Thomas Mehls said the company delivered "very good figures" for the first half, with a particularly strong second quarter despite a challenging environment for e-commerce in Germany. Excluding the commercial online-print business, group revenue rose 6% year over year in the second quarter, according to CFO Sirka Hintze. → AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be The company's reported second-quarter EBIT was negative EUR 7.4 million, reflecting transaction-related expenses.
On an operational basis, group EBIT was EUR 3 million, Hintze said. The reported figure included costs associated with the sale of the commercial online-print division and preparatory costs for the planned Kodak Moments transaction. Photo finishing remained the central growth driver.
Segment revenue increased 7.5% in the second quarter, while first-half photo-finishing revenue rose 4.5%. CEWE said the results were supported by both higher sales volumes and increased product value. → Nebius' Q2 Beat Shows the AI Bottleneck Is Capacity, Not Demand Sales of photo books, the company's core product category, increased 1.5% in volume during the second quarter, while photo-book revenue rose 3%. Hintze attributed the development in part to continuing premiumization, including new product features and more attractive higher-value offerings.
"What is driving the turnover in photo finishing is not only the number, but also the value," Hintze said. She added that the company was pleased to see a continued increase in the value of photo books. → On Holding's Price Stumble May Be an Opening for a Company Built to Run Photo-finishing EBIT totaled EUR 1.7 million in the second quarter, including about EUR 2 million in transaction costs related to the planned acquisition. Excluding those expenses, management said the segment's operating result was comparable with the prior year and consistent with the business's normal seasonal pattern.
Extract — continue reading at the source.
