CEWE Stiftung & Co. KGaA — Earnings Release 2002

Mar 4, 2003

News Details

Ad-hoc | 4 March 2003 07:30

CeWe Color Holding AG english

Preliminary figures for the business year of 2002 Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Preliminary figures for the business year of 2002 CeWe Color raises profits before tax (EBT) by 29.2 % Oldenburg, 4th March 2003 – CeWe Color Holding AG (SDAX; share certificate no. 540390; ISIN DE005403901), the largest independent photofinisher in Europe, reports on a growth in profits for the business year of 2002: – Profit before tax (EBT): + 29.2 % – Profit after tax: + 65.7 % Strong growth in digital products Consolidated turnover has increased by 0.5 % to 439.2 million Euro (2001: 436.9 million Euro). The sales volume, based on the number of films developed, was increased by 1.4 % to 94.3 million films (2001: 93.0 million films), and the number of photographs sold was increased by 2.1 % to 3.4 billion (2001: 3.3 billion). Digital photography is providing the field of photofinishing additional opportunities to enhance turnover and yield with new products. Thus, for the first time, CeWe Color developed 38.8 million digital photos, representing a growth rate of 357 % in comparison to the previous year (8.5 million). With sales amounting to 2.6 million units (+ 77 %), the Image CD contributed more than 7 million Euro to corporate turnover. Whereas the proportion of digital products and services in the photofinishing turnover in January 2002 was still only 2.8 %, it grew particularly strongly in the final six months of the year, to a proportion of turnover amounting to up to 8.3 % in December. France and Central Eastern Europe profitable Thanks to the contribution made by digital products, income was considerably enhanced. In addition, foreign markets contributed greatly towards improving results. After substantial investments in fixed assets, the acquisition of stock, human resources and systems in 2000 and 2001, losses in France and in Central Eastern Europe have been markedly reduced or fully eliminated. Profits before tax (EBT) grew by more than 29.2 %, from 20.2 million Euro to 26.1 million Euro, and profits after tax rose from 9.9 million Euro to 16.4 million Euro, representing a growth rate of 65.7 %. In 2002 CeWe Color invested 1.3 million Euro in intangible assets and the acquisition of stock (2001: 9.6 million Euro) and 27.1 million Euro (2001: 29.1 million Euro) in fixed assets, of which approximately 50 % went towards capital expenditure in digital technology, so that now 18 of the 24 production plants have already been equipped with digital printers. Increase in dividends to expect The Board of Management presumes that the Supervisory Board and the Board of Management will propose an increase in dividends (2001: 0.80 Euro) in accordance with profits at the Annual General Meeting on 26th June 2003. For the business year of 2003 the Board of Management is targeting a slight growth in profits, accompanied by consistent sales and a shift in turnover from customary products to profit-generating digital products. 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 04.03.2003 ——————————————————————————– WKN: 540390; ISIN: DE0005403901; Index: SDAX Listed: Geregelter Markt in Bremen und Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München und Stuttgart 040730 Mär 03