CEWE Stiftung & Co. KGaA — Earnings Release 2003

May 27, 2003

News Details

Ad-hoc | 27 May 2003 08:00

CeWe Color Holding AG english

CeWe Color Starts 2003 with first-quarter growth in turnover of 2.4 % Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– CeWe Color Starts 2003 with first-quarter growth in turnover of 2.4 % Oldenburg, May 27, 2003 – CeWe Color Holding AG (SMAX, ISIN DE 0005403901), Europe’s largest independent photofinisher, has reported on positive 2003 first- quarter figures. Despite a weak economy and a lull in the tourism sector, the Company was able to enhance sales, turnover and profits. With turnover at Euro 85.4 million (previous year Euro 83.4 million), CeWe Color achieved a growth rate of 2.4 % in the first quarter of 2003. The number of films developed was raised by 1.1 %, from 18.2 million to 18.4 million films. Sales of colour prints rose by 5.0 %, from 644 million to 676 million prints. Approximately half of this growth rate is based on growth generated for conventional prints from film rolls and on a fivefold increase in the number of digital prints respectively. What is remarkable is the fact that first-quarter % growth for digital photos, at 408 %, exceeds that of the previous year. Digital products and Services are already accounting for more than 8 % of turnover Dr. Rolf Hollander, Chairman of the Board of Management of CeWe Color, points out that in the first quarter of 2003, already as much as 8 % of photofinishing turnover was being generated with digital products and services, with both of the main lines (ordering digital photos in stores and in the Internet) showing the same positive development. Growth in the number of digital photos ordered in retail stores supplied by CeWe Color is 425 %, while growth in orders placed in the Internet is 388 %. Sales figures for Image CDs (making available image data from conventional films on a CD ROM) were also raised, by 71 % to 687 thousand CDs (previous year: 402 thousand CDs). Enhanced turnover in Central Europe, France and Benelux Growth in turnover for the first quarter of 2003 was achieved in Central Europe (+ 4.3 %), France (+ 2.0 %) and Benelux (+ 2.5 %). In Central Eastern Europe turnover declined by 4.4 %, one of the reasons being exchange-rate losses. First-quarter seasonal losses reduced Earnings before tax (EBT) were improved by 11.2 %, from losses of Euro 7.7 million for the same period in the previous year to Euro 6.9 million, and earnings after tax were raised by 23.2 %, from losses of Euro 7.6 million in the previous year to Euro 5.9 million for the first quarter of 2003. Dr. Rolf Hollander emphasises that the first quarter, being an off-season one, is always a loss-generator in the field of photofinishing. The second quarter and in particular the third quarter, thanks to the travelling season, result in high capacity utilization and positive business figures for CeWe Color. At the request of the Deutsche Börse AG (German stock exchange), the Company has converted its accounting standards from HGB to IAS. Figures for previous years were also converted accordingly for purposes of comparison. 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.com end of ad-hoc-announcement (c)DGAP 27.05.2003 ——————————————————————————– WKN: 540390; ISIN: DE0005403901; Index: SDAX Listed: Geregelter Markt in Berlin-Bremen und Frankfurt (Prime Standard); Freiverkehr in Düsseldorf, Hamburg, München und Stuttgart 270800 Mai 03