CEWE Stiftung & Co. KGaA — Earnings Release 2000

May 3, 2001

News Details

Ad-hoc | 3 May 2001 09:19

Ad hoc-Service: CeWe Color Holding AG english

Ad hoc announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Best cash-flow in the history of the company in the business year of 2000 May 3, 2001 – At the press conference held to report on the annual financial statements, CeWe Color reported good profits and the best cash flow in the history of the comany. Hubert Rothärmel, Chairman of the Board of Management, reported on another increase in sales, even if this increase was slightly lower than that of the previous year. The number of film rolls developed rose by 1.4% to 88.2 million, from which more than 3.1 billion prints were produced, an increase of 2.8% in comparison to 1999. Group turnover rose by 2.3% to EUR 403.2 million. Despite high costs for reconstruction measures undertaken in the French subsidiary the second-best results in the history of the company were achieved by means growth and an increase in productivity. Profits generated by ordinary business amounted to EUR 30.0 million in 2000. This figure includes losses amounting to EUR 8.6 million which were inside by CeWe Color S.A. in France. Without this exceptional influence on profits, they would at least been in the range of those of the record year of 1999. Profit before corporation tax amounts to EUR 22.8 million and annual net profits amount to EUR 13.7 million. CeWe Color reports that the profit per share in accordance with DVFA/SG amounts to EUR 1.88. In accordance with planning, investments in 2000 were once again increased, from EUR 42.8 million to EUR 47.0 million. Since the photofinishing branch will undergo substantial technological changes in the next few years, a change which CeWe Color has hitherto financed from its own resources – and the company intends to continue to do so in future – ivestments for extensions are not a priority in the group until such time as this technological breakthrough comes about. This is why planned investments for 2001 were reduced to approximately EUR 35.0 million. In alignment with increased investments made in the past few years, depreciation on tangible fixed assets has also increased slightly once again, from EUR 33,2 million to EUR 35.7 million. Cash flow in accordance with DVFA/SG was increased from EUR 54.1 million to EUR 54.5 million. The cash flow result per share therefore amounts to EUR 6.82. Hubert Rothärmel, Chairman of the Board of Management, emphasises that, with this record result, the group has steadily increased cash flow for more than five years now. The Supervisory Board and the Board of Management of CeWe Color Holding AG will propose a dividend payout of EUR 1.00 per denominated share at the Annual General Meeting. Hubert Rothärmel, Chairman of the Board of Management, stresses that the payout rate, at just under 66%, is the highest in the history of the company (it amounted to 51% in 1998, and in 1999). The dividend payout bears full corporate tax credit, which means that the gross dividend amounts to EUR 1.43. Thus the group is paying its shareholders the second-best dividend in the history of the company. In the first quarter of 2001, CeWe Color continued to grow. Consolidated sales revenue amounts to EUR 85.9, which represents an increase of 9.5%. The number of films developed in the group’s 26 operations rose by 6.7% to 18.6 million. The number of developed prints grew even more strongly, namely by 7.1%, from 612 million to 655 million prints. Should you have any enquiries, please contact: CeWe Color Holding AG, Hella Meyer Tel: 0441/404-400 or 0171/3450530 Fax: 0441/404-421 end of ad hoc announcement (c) DGAP 03.05.2001 ——————————————————————————– WKN: 540390; Index: SDax Listed: Geregelter Markt in Bremen und Frankfurt (SMAX); Freiverkehr in Berlin, Düsseldorf, Hamburg und Stuttgart 030919 Mai 01