CEWE Stiftung & Co. KGaA — Earnings Release 2002

May 27, 2002

News Details

Ad-hoc | 27 May 2002 21:19

CeWe Color Holding AG english

CeWe Color Holding AG: Business figures for the first quarter of 2002 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 business figures for the first quarter of 2002 Oldenburg, May 27, 2002 – CeWe Color Holding AG (SDAX; ISDN DE 0005403901, share certificate numbers 540 390, 540 392 and 540 395) – the largest independent European photofinisher – during the first quarter, achieved sales revenues amounting to Euro 83.4 million, which, compared to the same period of the previous year (Euro 85.9 million), represents a drop of 2.9 %. However, as a result of the delay of spring business, which only commenced in April, it was possible to offset this drop in sales as early as during the month of April. In the first four months of the year, sales revenue rose by 2.8 % to Euro 117.6 million (previous year Euro 114.4 million). The proportion of sales of digital products rose greatly, and is in the first quarter 3,2 %, compared to 1 % in the previous year. Every year, the first few months generate losses as a result of the seasonal nature of the photofinishing business. In 2002, quarterly profit before tax (EBT) for CeWe Color was at Euro -5.5 million (previous year Euro -2.1 million). The first quarter of 2001 benefited from other operating income amounting to Euro 7.9 million, compared to only Euro 4.2 million in the first quarter of 2002. In the period from January to April, profit before tax (EBT) in 2002 was Euro -3.6 million (previous year: January to April: Euro -5.1 million). This increase is generated solely by the operating area. In the first quarter of 2002, 18.2 million film rolls were developed, which is 0.4 million fewer than during the same period in 2001 (18.6 million film rolls). Of these 18.2 million film rolls, 644 million prints were produced, which is 11 million fewer than in the first quarter of 2001. As early as by the end of April 2002, the number of film rolls developed had increased by 4.1% to 25.6 million (January – April 2001: 24.6 million). The number of colour prints developed rose from 882 million in the period from January to April 2001 to 909 million in the same period in 2002, a rise of 3.1 %. The Board of Management of the CeWe Color Group is optimistic in view of developments in the field of digital photography and the good figures for the period from January to April. Hubert Rothärmel, Chairman of the Board of Management, expects that the sales target of between Euro 450 million and Euro 460 million will be achieved (2001: Euro 436.9 million). As expected, digital business is on the rise, and by the end of the current business year the proportion of digital business will have reached 5 %. Should you have any enquiries, please contact: CeWe Color Holding AG Hella Meyer Tel.: 0441 / 404 – 400 Fax: 0441 / 404 – 421 eMail: hella.meyer@cewecolor.de Internet: http//www.cewecolor.de end of ad-hoc-announcement (c)DGAP 27.05.2002 ——————————————————————————– WKN: 540390; ISIN: DE0005403901; Index: SDax Listed: Geregelter Markt in Bremen und Frankfurt (SMAX); Freiverkehr in Berlin, Düsseldorf, Hamburg und Stuttgart 272119 Mai 02