DGAP-News: CEWE COLOR confirms growth targets
(firmenpresse) - DGAP-News: CEWE COLOR Holding AG / Key word(s): Quarter Results
CEWE COLOR confirms growth targets
08.11.2012 / 07:00
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CEWE COLOR confirms growth targets
- Record sales of more than 500 million euros targeted
- Turnover boosted by online printing
- Seasonal effect and innovations give rise to expectations for a
substantial increase in the fourth quarter
Oldenburg, 8 November 2012. After the third quarter, the Board of
Management of CEWE COLOR Holding AG (SDAX, ISIN: DE0005403901) is
confirming the targets for the 2012 business year. More than anything else,
the innovations presented at the leading trade show photokina in September,
such as the CEWE PHOTO BOOK with videos, mobile applications, many new
added-value products and the online printing segment give rise to
expectations for substantial growth in sales and earnings for the fourth
quarter of 2012 as well. For the first time in the history of the company
covering more than 51 years, turnover is to exceed 500 million euros in
2012 (2011: 469 million euros). 'With the third quarter, we are confirming
the trend of the past few years and are right on track to generate the
highest sales in the history of the company and EBIT in the range of 27 to
33 million euros,' says Dr. Rolf Hollander, Chairman of the Board of
Management of CEWE COLOR Holding AG.
Sales increase by 6 percent thanks to a new business segment
Although the fourth quarter is increasing in significance every year due to
the seasonal shift, with the high growth generated in the new business
segment of online printing, CEWE COLOR has already increased sales by 6
percent to 326.5 million euros in the first three quarters of the year
(Q1-Q3 2011: 308.1 million euros). Photofinishing contributed 223.4 million
euros (-1.1%), retailing 74.5 million euros (-8.3%) and online printing
28.6 million euros (+27.7 million euros) to this increase. Turnover
increased by 121.8 million euros to 124.1 million euros in the third
quarter. With an EBIT margin that had increased from 9.5 to 9.9% in the
third quarter, the established segment of photofinishing contributed 8.5
million euros to Group EBIT, thus subsidising - together with the retailing
sector (+0.4 million euros) - the initial loss incurred in online printing
(-1.8 million euros): the Group achieved a quarterly EBIT of 7.1 million
euros overall. CEWE COLOR thus virtually offset the loss of the first two
quarters, which is typical for the season, and achieved accumulated EBIT in
the amount of -0.3 million euros (Q1-Q3 2011: +4.4 million euros).
Marketing investments in the amount of 3.4 million euros for the new
business segment of online printing in the period from February to
September are included in this EBIT. 'We are currently positioning our new
online printing brand CEWE-PRINT intensively on the market and are
intentionally financing the establishment of the brand from profits
generated in the established line of photofinishing business. We are thus
laying the foundations for future growth in an extremely attractive segment
in which we will benefit considerably from our economies of scale and the
strength of our brand,' Dr. Hollander emphasises.
Comparable 12-month EBIT exceeds that of the previous year
In a 12-month perspective, which offsets the seasonal effects, the
fourth-quarter EBIT for 2011 reached 25.5 million euros in the period up tothe third quarter of 2012, and is thus, for seasonal reasons, 0.7 million
euros less than the reference figure for the fourth quarter of 2010 up to
the third quarter of 2011. When adjusted by the Saxoprint acquisition, the
12-month EBIT would be 27.9 million euros, thus exceeding the same figure
for the previous year by as much as 1.7 million euros. Furthermore, the
annual net income after taxes for the same period only decreased by 0.4
million euros to 14.9 million euros due to the seasonal shift.
Earnings target for the fourth quarter within the growth corridor for
previous years
In order to achieve the annual target of EBIT in the amount of 27 to 33
million euros, fourth-quarter EBIT would need to amount to between 27.2 and
33.2 million euros. This is exactly in line with the trend in previous
years. The required increase in EBIT for the fourth quarter, from 1.5 to
7.5 million euros against that of 2011 is equivalent to the growth
generated by CEWE COLOR in the fourth quarters of the past few years.
Third quarter of 2012 in a comparison with the previous year
CEWE COLOR Group Unit Q3 Q3 Delta Delta
2011 2012 % Absolute
Digital prints in m. units 660.3 609.1 -7.8 -51.2
Prints from films in m. units 82.9 52.9 -36.2 -30.0
Total prints in m. units 743.2 662.0 -10.9 -81.2
CEWE PHOTO BOOKS th. books 1,354.1 1,361.4 +0.5 +7.3
Turnover in EUR m. 121.8 124.1 +1.9 +2.3
EBIT in EUR m. 8.9 7.1 -20.0 -1.8
EBT in EUR m. 8.7 6.4 -27.0 -2.3
Earnings after tax in EUR m. 6.4 4.6 -28.7 -1.8
Q1-Q3 2012 in a comparison with the previous year
CEWE COLOR Group Unit Q1-Q3 Q1-Q3 Delta Delta
2011 2012 % Absolute
Digital prints in m. units 1,533.0 1,551.8 +1.2 +18.8
Prints from films in m. units 203.3 131.8 -35.2 -71.5
Total prints in m. units 1,736.3 1,683.6 -3.0 -52.7
CEWE PHOTO BOOKS th. books 3,244.3 3,483.1 +7.4 +238.8
Turnover in EUR m. 308.1 326.5 +6.0 +18.4
EBIT in EUR m. 4.4 -0.2 - -4.6
EBT in EUR m. 3.6 -2.0 - -5.6
Earnings after tax in EUR m. 0.4 -3.2 - -3.6
Percentage deviations have all been calculated at the exact values.
Should you have any queries, please contact:
CEWE COLOR Holding AG, Axel Weber (Investor Relations)
Tel.: 0441 / 404 - 2288, Fax: 0441 / 404 - 421, e-mail: IR(at)cewecolor.de
Internet: www.cewecolor.de , www.cewe.de , www.cewe-fotobuch.de ,
www.cewe-print.de
www.viaprinto.de , www.saxoprint.de
Now available in the Apple App Store: The CEWE Investor Relations app for
your iPad(R), including annual reports and quarterly reports as well as
sustainability reports.
Financial schedule:
12.11.2012: German Equity Forum, Frankfurt
About CEWE COLOR: Photo service company CEWE COLOR, with 13
highly-technical production operations and a staff of around 3,100
employees in 24 European countries, is both market and technological
leader. In 2011 CEWE COLOR delivered around 2.5 billion prints, more than
5.1 million CEWE PHOTO BOOKS and photo gift articles to more than 33,000
retail partners to generate consolidated turnover of 469 million euros.
CEWE COLOR is a 'first mover' in the introduction of new digital
technologies and products. In the new business segment of online printing,
printed material for advertising is marketed through the sales platforms
CEWE-PRINT, saxoprint and viaprinto. CEWE COLOR celebrated its 50th company
anniversary in 2011. In 1961 CEWE COLOR was founded by Senator h. c. Heinz
Neumüller. The company went public under the leadership of Hubert Rothärmel
in 1993. CEWE COLOR Holding AG is listed on the SDAX.
End of Corporate News
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Language: English
Company: CEWE COLOR Holding AG
Meerweg 30-32
26133 Oldenburg
Germany
Phone: +49 (0)441 40 4-1
Fax: +49 (0)441 40 4-42 1
E-mail: IR(at)cewecolor.de
Internet: www.cewecolor.de
ISIN: DE0005403901
WKN: 540390
Indices: SDAX
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard);
Freiverkehr in Düsseldorf, Hamburg, Hannover, München,
Stuttgart
End of News DGAP News-Service
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192112 08.11.2012
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