Conference call: Results Q1/2021

Results Q1 2021

Analyst Conference Call CEWE Stiftung & Co. KGaA

May 12, 2021

This presentation contains forward-looking statements that are based on current assumptions and forecasts of the management of CEWE. Known and unknown risks, uncertainties and other factors could lead to material differences between the forward-looking statements given here and the actual development, in particular the results, financial situation and performance of our Company. The Company assumes no liability to update these forward-looking statements or to conform them to future events or developments.

All numbers are calculated as exactly as possible and rounded for the presentation. Due to this, rounding differences might occur.

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Agenda

1. Corporate Development by Business Segments
2. 1. Photofinishing
   2. Retail
   3. Commercial Online-Print
   4. Other
3. Group Results
4. Financial Details
5. Outlook
6. Q&A-Session

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Good Start to 2021: Q1 with a Significant Increase in Earnings

• Turnover in the Photofinishing business segment increased by 9.0% to 125.0 million euros, and EBIT improved by a considerable 6.5 million euros to 9.8 million euros. On the one hand this is in line with the long-termtrend towards a consistently stronger first quarter, and on the other hand, staying at home under the ongoing lockdown situation backs up this positive development.
• Commercial Online Printing remains clearly impacted by the ongoing lockdown, only achieving turnover of 12.8 million euros, 43.2% below that of the previous year. Thanks to a strict cost management system and optimised production and cost structures overall, the EBIT, at -0.6 million euros, was stabilised at last year's level.
• The ongoing lockdown also continues to impact hardware retailing, with turnover decreasing by 16.8% to 6.3 million euros. In spite of this decline in turnover, retailing, with an EBIT of -0.4million euros in the first quarter, returns the same earnings as in the previous year.
• In total, the growth in sales in photofinishing virtually offsets the declines in the other business segments, with Group turnover, at 145.9 million euros, falling short of that of the previous year by only -0.4%. The Group EBIT improved significantly by 6.6 million euros to 8.6 million euros (driven by the core business segment of photofinishing). A good first quarter overall.

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