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4 February 2025
Cimpress (Vistaprint) Reports ‘Disappointing’ Results
DUNDALK, IRELAND—
Cimpress the parent company of Vistaprint, saw profitability plummet despite a top-line sales rise in the first six months of its 2025 fiscal year. The publicly traded company released financial results on Jan. 29 that showed half-year net income of $48.5 million, down from about $62.7 million the year prior. Despite profitability issues, Cimpress’ total sales rose nearly 4% to $1.74 billion during the six-month period.
Cimpress CEO Robert Keane explained that Cimpress had anticipated an EBITDA decline in Q2 due to the non-recurrence of $12 million from one-time favorable items in the same period last year, as well as the shortened holiday buying season compared to last year. Still, things went even worse than expected. “We also experienced additional unplanned one-time headwinds to profitability,” Keane said. “In Canada, there was a postal strike during the holiday peak that kept our customers from buying holiday cards given the uncertainty of deliverability, which reduced profits by about $1.8 million, and we had a $2.9 million charge for a land duty tax in Australia related to our 2019 re-domiciliation to Ireland that we are appealing. All together these items weighed on year-over-year profitability by over $16 million.”
Vistaprint is Cimpress's largest division and is Canada's second largest printer
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Vistaprint's plant Windsor Ontario and their largest in North America and Canada's second largest printer .
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