OLDENBURG/FRANKFURT (dpa-AFX) - The photo service provider Cewe does not necessarily expect better business for the current year in view of inflation. At 770 to 820 million euros, turnover could be both higher and lower than in the previous year, the SDax-listed company announced in Oldenburg on Friday. Earnings before interest and taxes (EBIT) could also be below or above the previous year's figure at between 77 and 87 million euros.

Cewe justified its forecasts with the inflation-related increase in prices and the possible effects on business development. So far, however, inflation has had no visible impact on customer ordering behavior. Analysts had expected average figures at the upper end of the target ranges for 2024.

In the past year, Cewe generated sales of 788.8 million euros, including the subsidiary Futalis, which was sold in December, up 6.5 percent on the previous year. Formally, turnover amounted to 780.2 million euros. The operating profit (EBIT) including Futalis grew from 75.6 to 81.6 million euros. The actual figure was 83.9 million euros. Below the line, Cewe earned 57.3 million euros, twelve percent more than in the previous year. As already announced, the dividend is to rise from 2.45 to 2.60 euros per share./stw/jha/