OLDENBURG (dpa-AFX) - The photo service provider Cewe increased sales and earnings last year thanks to the Christmas business. Business was driven primarily by photo products ordered online and a revised branch structure. The management of the Oldenburg-based company was satisfied with the improved profitability. The share, which is listed in the second-line index SDax, rose by 3.76 percent to 104.80 euros on Wednesday morning.

The shares have thus climbed by over 16 percent since mid-August. However, they are still below the high of 138 euros in May 2021, when Cewe benefited from the fact that many people used their time to create photo books during the coronavirus lockdown.

As the company also announced, Group sales climbed by 6.5 percent to 788.8 million euros based on preliminary figures. And operating earnings before interest and taxes (EBIT) rose by 7.9 percent to 81.6 million euros. Both key figures were better than expected and are at the upper end of the forecast, commented Warburg analyst Thilo Kleibauer. The figures still include Futalis, which was sold in December 2023. The Management Board will present complete and audited figures on March 22 /hosmjf/ngu/stk