CEWE Stiftung & Co. KGaA — Earnings Release 2001

Apr 25, 2002

News Details

Ad-hoc | 25 April 2002 09:56

CeWe Color Holding AG english

CeWe Color Holding AG announces its business figures for 2001 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 2001: – Increase in sales revenue by 8.4 % to EUR 436.9 million – Dividend payout of EUR 0.80 proposed Oldenburg, 25. April 2002 – CeWe Color Holding AG (SDAX; share certificate numbers 540 390, 540 392 and 540 395, ISIN DE 0005403901) is today announcing its audited figures for the fiscal year of 2001 at the press conference to present the annual financial report. Good development in sales – During the previous fiscal year, CeWe Color achieved an increase in sales of 8.4 %, which means that revenue from sales rose from EUR 403.2 million to EUR 436.9 million. In Central Eastern Europe (Poland, the Czech Republic and Slovakia), CeWe Color achieved the strongest growth in sales, namely 36.7 %, to EUR 46.6 million. In France turnover rose by 33.6 %. The takeover of Konica Photo Service France on 1. February 2001 contributed greatly towards this rise. With its other operations, CeWe Color was able to increase turnover in France by 4.3 %. Besides generating a good growth rate in the field of photofinishing, the 282 retail stores in Northern and Central Eastern Europe have made a substantial contribution towards the overall growth rate of the group. Drop in profits due to non-recurring extraordinary expenses – In 2001, profits before tax and interest (EBIT) dropped by 24.4 % to EUR 24,9 million (2000: EUR 33.0 million). Profits before tax (EBT) dropped by 32.8 % to EUR 20.2 million (previous year: EUR 30.0 million). Profits after tax fell by EUR 3.8 million to EUR 9,9 million compared to the previous year (EUR 13.7 million). The drop in profits was primarily due to non-recurring extraordinary expenses amounting to EUR 9 million. They comprise expenses as a result of plant closures and an adjustment in the price of the company’s own shares purchased amounting to EUR 2.8 million. Profits per share according to DVFA/SG fell by 33.5 % to EUR 1.25 (2000: EUR 1.88). Dividend of EUR 0.80 proposed – In the meeting, of the Supervisory Board on 16. April 2002 a unanimous decision to pay out a dividend of EUR 0.80 (previous year EUR 1,00) was taken. This dividend will be proposed for approval at the Annual General Meeting on 20. June 2002. end of ad-hoc-announcement (c)DGAP 25.04.2002 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Over-proportional growth – In 2001 CeWe Color developed more than 3.3 billion colour prints (2000: 3.1 billion prints, equivalent to + 6,2 %). The number of film rolls developed in the year under report increased from 88.2 million to 93.0 million. This increase of 5.4 % is matched by a growth rate of only 2 % – 3 % on the photo market in general. Slightly raised depreciation and a healthy cash flow – Depreciation rose from EUR 35.7 million to EUR 37.6 million. The proportion of depreciation in turnover dropped slightly from 8.9 % to 8.6 %. Cash flow according to DVFA/SG in the fiscal year of 2001 amounted to EUR 51.8 million (previous yearEUR 54.5 million). More cautious investments – Subsequent to the record budget of EUR 47.0 million in 2000,investments were reduced toEUR 38.7 million in accordance with schedule. A sum of EUR 9 million of the total budget (previous year EUR 4.0 million) was invested in information technology and digital photography. The investment budget for 2002 was stipulated at approximately EUR 25 million. With this budget, CeWe Color is adapting to the technology shift in the photofinishing sector, and is therefore in a position to continue to finance essential investments from its own funds. Outlook – CeWe Color Holding AG plans to increase turnover to approximately EUR 450 – 460 million in 2002. The management sees sales potential in, among other things, the area of new digital technologies, such as the Internet service “Online Photo Service” and “i-mode”. In addition CeWe Color has agreed on a cost-reduction plan with a volume of EUR 25 million for 2002. For the current year CeWe Color has provided for investments amounting to EUR 25 million – of which EUR 9 million are intended for the field of digital photography. The corporate group is therefore preparing itself for the switchover from customary photography to digital technology, which is to commence in 2003. Should you have any queries, please contact: CeWe Color Holding AG Hella Meyer Tel.: 0441/404-400 Fax: 0441/404-421 E-mail: hella.meyer@cewecolor.de Internet: http//www.cewecolor.de Kirchhoff Consult AG Martina Schwalb Tel.: 040/609186-50 Fax: 040/609186-71 E-mail:: Martina.Schwalb@kirchhoff. de ——————————————————————————– WKN: 540390; ISIN: DE0005403901; Index: SDax Listed: Geregelter Markt in Bremen und Frankfurt (SMAX); Freiverkehr in Berlin, Düsseldorf, Hamburg und Stuttgart 250956 Apr 02