DGAP-News: CEWE COLOR increases turnover and income
(firmenpresse) - CeWe Color Holding AG / Half Year Results
17.08.2010 07:01
Dissemination of a Corporate News, transmitted by
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CEWE COLOR increases turnover and income
- Operative earnings increased by EUR 6.9 million
- Free cash flow raised by EUR 15.4 million
- Sales of CEWE PHOTO BOOKS up by 22% in the first half of the year
- Board of Management affirms forecast: earnings per share to be doubled
Oldenburg, 17 August 2010. CEWE COLOR Holding AG (SDAX, ISIN: DE0005403901)
clearly increased its earnings power in the first half of 2010, which was
typically weak for seasonal reasons: EBITDA increased by EUR 8.6 million to
EUR 14 million, EBIT improved by EUR 6.9 million to EUR -5.9 million and
turnover increased considerably by 6% to EUR 180.4 million; the
exchange-rate adjusted turnover per photo increased by 5.3% to 12.4 cents.
With the increase in income achieved in the first six months of the year,
the improvement planned for the full year has already been achieved after
the first six months. Against this background, the Board of Management is
affirming its forecast of doubling earnings per share to around EUR 2 per
share. From a 12-month point of view, since 30 June 2009 EBIT has already
more than doubled against the same period of the previous year, by EUR 14.5
million to EUR 25.5 million. 'The trend towards added-value products
bearing higher margins continues. We are benefiting from the launch of the
CEWE PHOTO BOOK brand here,' says Dr. Rolf Hollander, Chairman of the Board
of Management of CEWE COLOR Holding AG.
Capital ratio increases by 5 percentage points - return on equity more than
doubled
After the first six months of the year, CEWE COLOR Holding AG is showing a
distinctly sound financing structure: the capital ratio rose by 5
percentage points to 40.3% and free cash flow was improved by EUR 15.4
million, so that the company achieved a balanced free cash flow (EUR -0.4
million) as early as in the first six months of the year. At the same time
the return on capital employed on a 12-month basis was considerably
increased: against the 12-month period before 30 June 2009, the ROCE was
more than doubled, from 6.9% to 16.1%.
Sales focus shifts to 4. quarter
Turnover generated by orders placed online continued to grow over that of
the previous year by another 22% in the first six months. This shift to
digital products - in particular the CEWE PHOTO BOOK, digital photos, photo
calendars and photo greeting cards - is changing the seasonal focus. 'The
shift from 'mass to class' continues. Photos are increasingly being
ordered in the form of added-value products,' Dr. Hollander explains. This
is why Christmas business and its seasonal focus is becoming more
significant for the CEWE PHOTO BOOK, for which sales also increased in the
first six months of the year, by 22% to more than 1.6 million books. Due to
the seasonal focus, the fourth quarter has now replaced the third one as
the quarter in which the most CEWE COLOR sales are generated.
Forecast confirmed
The Board of Management believes that the first six-month period is a very
sound basis for achieving the forecast for 2010. This is why the Board of
Management is affirming all the targets for 2010. Rolf Hollander: 'We are
right on track with figures for the first six months: earnings per share
are to double to around two euros in 2010.
CEWE COLOR Group Unit Q1-Q2 Q1-Q2 Delta Delta
2009 2010 % Absolute
Digital photos in million 814.3 853.1 +4.8 +38.8
photos
Photos from films in million 273.2 181.0 -33.7 -92.2
photos
Photos total in million 1,088 1,034 -4.9 -54
photos
CEWE PHOTO BOOK in thousand 1,320.2 1,608.9 +21.9 +288.7
books
Sales in EUR millions 170.3 180.4 +6.0 +10.1
EBIT in EUR millions -12.8 -5.9 +53.8 +6.9
Earnings after in EUR millions -15.2 -10.6 +30.7 +4.7
tax
Financial schedule:
19 August 2010 'Consuming/Retail' Conference, Bankhaus Lampe,
Frankfurt/Main
30 August 2010 SCC Small Cap Conference, Frankfurt/Main
16 November 2010 Announcement of the figures for the third quarter of 2010
22 November 2010 German Equity Forum, Frankfurt am Main
About CEWE COLOR: Photo service company CEWE COLOR, with 12 highly
technical production operations and a staff of around 2,700 employees in 24
European countries, is both market and technological leader. The company
supplied around 2.6 billion photos and more than 3.6 million CEWE PHOTO
BOOKS to more than 50,000 retail partners in 2009. CEWE COLOR is a 'first
mover' in the launch of new digital technologies, for example ordering
digital photos in the Internet or with the help of order terminals
(DigiFoto Makers) in retail stores. Sales of personalised CEWE PHOTO BOOKS
are developing extremely well. 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.
Should you have any queries, please contact:
CEWE COLOR Holding AG
Axel Weber
Tel.: 0441 / 404 - 2288, Fax: 0441 / 404 - 421,
Email: IR(at)cewecolor.de, Internet: www.cewecolor.de or www.cewe-fotobuch.de
17.08.2010 07:01 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: CeWe Color Holding AG
Meerweg 30-32
26133 Oldenburg
Deutschland
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 Frankfurt (Prime Standard), Berlin;
Freiverkehr in Hamburg, München, Düsseldorf, Hannover,
Stuttgart
End of News DGAP News-Service
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Datum: 17.08.2010 - 07:01 Uhr
Sprache: Deutsch
News-ID 32015
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