CEWE Stiftung & Co. KGaA — Earnings Release 2002

Aug 27, 2002

News Details

Ad-hoc | 27 August 2002 08:32

CeWe Color Holding AG english

CeWe Color Holding AG Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– CeWe Color Holding AG announces its audited 2002 mid-year business figures: – best second quarter ever – a 58.4 % rise in profit before tax (EBT) – substantial increases for digital products Oldenburg, 27. August 2002 – CeWe Color Holding AG (SDAX; ISIN DE0005403901, share certificate no. 540 390, 540 392 and 540 395) – the largest independent European photofinisher – has announced that the second quarter of 2002 was the most successful quarter ever for the company. In April, May and June CeWe Color generated its best profit before tax (EBT), which, at Euro 12.2 million, represents an increase of 58.4 % in comparison to the same period of the previous year. The positive situation was similar for cash flow, which, at Euro 16.0 million (+19.4 %) was the biggest cash flow of any second quarter so far. Slight increase in volume Despite general consumer caution and a reduction in the number of reservations of journeys in the travel sector, CeWe Color achieved a growth in volume in the second quarter of 2002 of 4.2 %, to 24.8 million films (2001: 23.8 million films), representing an increase of 4.8 % to 873 million prints (2001: 833 million prints), as well as an increase in turnover of 3.8 % to Euro 115.6 million (2001: Euro 111.4 million). CeWe Color achieved the most significant increases in Central Eastern Europe, at 21.4 %, in France, at 6.5 %, and in Central Europe, at 5.8 %. The digital sector is becoming increasingly significant CeWe Color achieved half of its growth in turnover, or 3.5 % of total turnover in the second quarter of 2002 (a proportion of 1.7 % of total turnover in the second quarter of 2001) with digital products and services. Growth in turnover for digital products (1st quarter 2001/2002) The sales volume of the Image CD, the digitisation of conventional films on a CD Rom, was raised by 80 %. The number of orders for digital photos placed in the stores of retailers supplied by CeWe Color was raised by 250 %, and the number of orders placed through the Online Photo Service, ordering digital photos in the Internet, was raised by 300 %. Dr. Rolf Hollander points out that in the 90s, the risks involved with digital photography for photofinishers had held the management of CeWe Color in suspense. However, now the business opportunities presenting themselves to CeWe Color are vast. Corporate targets The main targets of the corporate group are at present developing and extending digital business, further cost management, and price stabilisation. CeWe Color is currently in the summer season, one which is significant for annual net profit. However, the Board of Management is confident that the projected net annual profit before tax (EBT) of Euro 25 million can be achieved. 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 27.08.2002 ——————————————————————————– WKN: 540390; ISIN: DE0005403901; Index: SDax Listed: Geregelter Markt in Bremen und Frankfurt (SMAX); Freiverkehr in Berlin, Düsseldorf, Hamburg und Stuttgart 270832 Aug 02