CEWE Stiftung & Co. KGaA — Earnings Release 2002

Oct 28, 2002

News Details

Ad-hoc | 28 October 2002 20:45

CeWe Color Holding AG english

CeWe Color achieves a 40 % increase in profits in the third quarter of 2002 Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– CeWe Color achieves a 40 % increase in profits in the third quarter of 2002 Oldenburg, October 28, 2002 – Europe’s leading photo service provider – CeWe Color Holding AG (SDAX; ISDN DE 0005403901, share certificate no. 540 390, 540 392 and 540 395) – has reported good photofinishing business during the summer season. The third quarter of 2002 (July – September) resulted in: * a growth in volume (prints) of 4.1 % * a growth in turnover of 3.8 % and * profits before tax (EBT) of Euro 22.2 million with a growth of 40.8 % in comparison to the third quarter of 2001. Despite a weak travel season, CeWe Color achieved a growth in volume of 4.1 %. A virtually proportional increase in the volume of sales, at 3.8 %, was due to a marked stabilisation in prices in comparison to previous business years as well as to growth in the higher-priced sector of digital orders. Positive development in profits continues In the third quarter of 2002, CeWe Color achieved profits before tax (EBT) amounting to Euro 22 million (a plus of Euro 6.4 million / a plus of 40.8 % in comparison to the III. quarter of 2001), thus continuing with the positive development of the second quarter, which had already resulted in EBT growth of Euro 4.5 million when compared to the second quarter of 2001. After a loss- making first quarter, which was particularly hard hit by weaknesses in the retail and tourism sectors, the first to third quarters together show a profit before tax (EBT) of Euro 28.9 million (plus 35.5 %). Growth generator digital products Digital photography is currently developing to become a generator of growth. Sales of all digital products (digital photos, CDs from films and Internet services) reached a proportion of 5.1 % of total CeWe Color sales in September 2002 and grew by 186 %. While the increase in retail sales of digital cameras in Germany for 2002 is currently at 100 %, CeWe Color’s growth rate for digital photos in the months of July to September was as high as 400 % to 500% in comparison to the same period of the previous year. Thus three quarters of all sales increases at CeWe Color are generated by the digital sector. And figures are rising. Positive outlook As a specialist in photographic services, corporate targets focus on further enhancement of efficiency, on reinforcing digital products and services as well as on price-stabilising measures. Besides margin-enhancing improvements in the product range, market leader CeWe Color has plans to raise prices. These will be implemented in 2003. Dr Rolf Hollander, CeWe Color Holding CEO, says: “Even if we are aware of the fact that the fourth quarter of the year, due to a seasonal under-capacity, frequently results in losses, we are confident that our profit projection (EBT) of Euro 25 million for the whole year will be fulfilled. Should you have any queries, please contact: CeWe Color Holding AG, Hella Meyer Tel.: 0441 / 404 – 400 or 0171 / 34 50 530, Fax: 0441 / 404 – 421 eMail: hella.meyer@cewecolor.de, Internet:http//www.cewecolor.de end of ad-hoc-announcement (c)DGAP 28.10.2002 ——————————————————————————– WKN: 540390; ISIN: DE0005403901; Index: SDax Listed: Geregelter Markt in Bremen und Frankfurt (SMAX); Freiverkehr in Berlin, Düsseldorf, Hamburg und Stuttgart 282045 Okt 02