Early figures released by Germany-based photofinishers CeWe Color indicated that sales in the calendar/fiscal year 2012 exceeded €500 million for the first time (2011 – €469 million) and the target earnings before interest and tax (EBIT) of €27-33 million were also achieved. The CeWe Photobook and online printing are strong growth drivers, as 2011 sales in the low single-digit million euros during 2011ballooned to more than 40 million euros in 2012. The company is likely to publish its preliminary, unaudited results at the end of February.
Don Franz, Photo Imaging News, February 13, 2013 via Facebook
It looks like Shutterfly’s success is not anomalous. The European photofinisher CeWe Color has also reported strong growth, with significant increases in photo books and online printing. I am glad to see these results because they mean that if a company is well-managed and has innovative products they can succeed in the photo industry. It also means that people are continuing to print and buy photo products.