CEWE Stiftung & Co. KGaA — Earnings Release 2003

Aug 1, 2003

News Details

Ad-hoc | 1 August 2003 09:43

CeWe Color Holding AG english

CeWe Color announces the development in sales for the first six months of 2003 Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– CeWe Color announces the development in sales for the first six months of 2003: Oldenburg, August 1, 2003 – The leading European photo service provider, CeWe Color Holding AG (ISIN DE 0005403901), has announced mid-year growth in colour prints of + 1.9 %, in digital photos of 369 %, in film developments of – 1.6 %, and a decline in turnover of – 3.2 %. The first six months of 2003 were characterised by two influencing factors: an ongoing upsurge in business with digital products and services as well as a decline in the tourism sector. Orders for digital photos in the Internet increased by 324 % in comparison to the same period of the previous year, while orders for digital photos at the counters of stores supplied by CeWe Color even rose by 403 %. The service for scanning customary data (films, prints and slides) onto CD ROMs (Image CDs) grew by 61 %, to 1.7 million units. Thus expanding digital products, so vital in the medium term and in the long term, is running smoothly and is ahead of schedule. On the other hand, developments on the market for customary products for film developments and prints from films were considerably curbed by slack consumption and in particular by a lull in travel business. Around half of all photos taken are snapped by consumers during their holiday. The photofinishing branch, due to sluggish tourist business, recorded a decline of approximately 6 % for film developments and colour prints in the first six months. For CeWe Color, after a first-quarter increase in volume of 5 %, the months of April and May, directly influenced by the Iraq war, resulted in a drop in the number of prints of 8.8 % and 5.8 % respectively, while the month of June, with an increase of 11.0 %, has greatly contributed towards recovery. Mid-year corporate profit figures are as yet not available – they will be published on August 26, 2003. A decline of approximately Euro 3 million in respect of profits before tax (EBT) and for cash flow is expected in comparison to a strong second quarter in 2002. In the field of photofinishing, for seasonal reasons, the first quarter is usually one characterised by under- capacity; for CeWe Color, however, it was an extremely pleasing period. Due to the war and a sluggish tourism sector, the second quarter, as expected, has resulted in a weaker result than that of the previous year. However, what is decisive for annual profits is the summer season in the third quarter. The Board of Management of the CeWe Color Group hopes that travel bookings will continue to rise, especially in the last-minute sector. After the first quarter of 2003, projected targets for annual net profits, at + 5 % and a consistent turnover of Euro 439 million, were confirmed. On August 26, 2003, half way through the third quarter, the Board of Management, should it become necessary, will publish adapted target figures for the annual net profit for 2003. Should you have any queries, 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.com end of ad-hoc-announcement (c)DGAP 01.08.2003 ——————————————————————————– WKN: 540390; ISIN: DE0005403901; Index: SDAX Listed: Geregelter Markt in Berlin-Bremen und Frankfurt (Prime Standard); Freiverkehr in Düsseldorf, Hamburg, München und Stuttgart 010943 Aug 03