DGAP-News: CEWE: Sales, turnover and profit on target at

DGAP-News: CEWE COLOR Holding AG / Key word(s): Half Year Results CEWE: Sales, turnover and profit on target at mid-year 14.08.2013 / 07:00 --------------------------------------------------------------------- CEWE: Sales, turnover and profit on target at mid-year - Turnover grows by 7.8% to EUR 218.2 million - Online printing rises by 60.4% to EUR 27.2 million - Capital ratio continues to rise, to 38.1% - Christmas season decisive for annual net income - Annual forecast confirmed Oldenburg, 14 August 2013. CEWE COLOR Holding AG (SDAX, ISIN: DE 0005403901) continued to grow in the first six months of 2013, increasing turnover by 7.8% to EUR 218.2 million. Besides strong growth in the future business of online printing (+60.4%, to EUR 27.2 million), retail business (+7.6% to EUR 52.2 million) and photofinishing (+1.4% to EUR 138.8 million) also contributed to this increase. In the first half-year period, which is typically negative for seasonal reasons, the operative Group EBIT (adjusted by EUR 3.3 million in extra expenses for location mergers) was - EUR 7 million (previous year adjusted by extra expenses: - EUR 6.1 million). The proportion of earnings in the annual net income generated in the first six months of the year is reduced due to the continuing seasonal shift into the fourth quarter. The 12-month return on capital employed (ROCE) reached 13.8%. 'We are thus fully in line with our target for 2013 in all our categories, and we are confirming our forecast. We made intensive use of the first six months to prepare ourselves for the fourth quarter, the period which is the focus of our turnover and earnings, with product innovations and with reinforcing the brand,' says Dr. Rolf Hollander, Chairman of the Board of Management of CEWE COLOR Holding AG. In spite of the positive development in the first six months, the seasonal shift to the fourth quarter resulting from digitisation will continue with a negative impact on the third quarter. Turnover per photo grows with the trend to added value products The positive development in the business segment of photofinishing, with turnover growing by 1.4% to EUR 138.8 million, is the result of a trend towards added value products. In the first six months of 2013, sales of the CEWE PHOTO BOOK rose by 3.5% to 2.195 million books. At 967.8 million photos sold, turnover per photo increased by 7.0% over that of the same period of the previous year in the first six months of 2013. Profitability in core business guarantees growth Photofinishing at the beginning of the year has always been referred to as 'selling ice cream in winter'. The resulting permanently negative earnings in the first six months has for years now been additionally weakened by the seasonal shift in business to the fourth quarterly period. Against this background, CEWE views the improvement in operative photofinishing EBIT from - EUR 4.4 million in the period of the previous year to - EUR 4.1 million in the first six months of 2013 as an important achievement. 'The distribution of roles in the business segments can already be recognised in the first six months: Progress in photofinishing enables us to invest in our growth sector of online printing,' says Dr. Hollander. Capital ratio increases - total return of 14.6% for shareholders in the first six-month period In spite of the dividend of EUR 1.45 per share paid out on 6 June, the CEWE capital ratio grew from 37.2% on 30 June 2012 to a sound 37.2%. Based on a positive share-price development (+EUR 3.07 to EUR 34.11) and on the dividend, the total return for shareholders was EUR 4.52 in the first six months of 2013. This is equivalent to a return of 14.6% in relation to the 2012 closing share price (EUR 31.04). EBIT in the range of EUR 27 to 33 million expected, despite growth investments in online printing On the basis of the first six months, the Board of Management sees its annual target confirmed, and expects to see more growth in 2013. Full-year turnover in the growth sector of online printing is to increase by around 40%, to EUR 60 million, with Group turnover rising in the range of 1% to 5%, to EUR 510 to 530 million. The EBIT should be in the range of EUR 27 to 33 million in 2013, and earnings per share should amount to EUR 2.44 to EUR 3.06. Earnings by operating area: CEWE COLOR Unit H1-2012 H1-2013 Q2-2012 Q2-2013 (1) Photofinishing (PF) Digital prints in m. units 942.7 914.4 480.9 451.6 Prints from films in m. units 78.9 53.4 44.5 30.0 Total prints in m. units 1,021.6 967.8 525.4 481.6 CEWE PHOTO BOOK in m. units 2.12 2.19 1.09 1.09 Turnover in EUR m. 137.0 138.8 71.5 69.7 EBIT in EUR m. -5.3 -7.4 -0.3 -2.9 EBIT margin % -3.9 -5.3 -0.4 -4.2 (2) Retailing (R) Turnover in EUR m. 48.5 52.2 25.4 27.6 EBIT in EUR m. -0.2 -0.9 0.3 -0.3 EBIT margin % -0.4 -1.8 1.2 -1.0 Core business (PF + R) Turnover in EUR m. 185.5 191.0 96.9 97.3 EBIT in EUR m. -5.5 -8.3 0.0 -3.2 EBIT margin % -3.0 -4.3 0.0 -3.3 (3) Online printing Turnover in EUR m. 16.9 27.2 10.0 14.3 EBIT in EUR m. -1.8 -2.0 -0.6 -0.7 EBIT margin % -10.8 -7.2 -6.1 -5.2 CEWE COLOR Group Turnover in EUR m. 202.4 218.2 106.9 111.6 EBIT in EUR m. -7.4 -10.3 -0.6 -3.9 EBIT margin % -3.7 -4.7 -0.6 -3.5 Notes to the 'Earnings by Operating Area' chart (1) Photofinishing: Production and sale of photo products such as the CEWE PHOTO BOOK, photo greeting cards, calendars, wall decorations and individual (analogue and digital) photos as well as other photo products (2) Retailing: Trading in CEWE's own retail stores in Norway, Sweden, Poland, the Czech Republic and Slovakia with photo hardware such as cameras and lenses Core business: Aggregate of photofinishing and retailing (3) Online printing: Production and sale of commercial print products in the online printing portals at CEWE-PRINT.de, saxoprint.de and viaprinto.de 2013 targets and a comparison with the previous year CEWE COLOR Group Unit 2012 2013 % change target Targets '13 against actual '12 Digital prints in billion 2.30 2.10 - -9% to -6% units 2.15 Prints from in billion 0.16 0.10 - -38% to -32% films units 0.11 Total prints in billion 2.46 2.20 - -11% to -8% units 2.26 CEWE PHOTO BOOK in m. units 5.6 5.8 - 6.0 +4% to +7% Turnover in EUR m. 503.3 510 - 530 +1% to +5% EBIT in EUR m. 28.9 27 - 33 -7% to +14% EBT in EUR m. 26.7 25 - 31 -6% to +16% Earnings after in EUR m. 18.8 16 - 20 -15% to +6% tax 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@cewecolor.de Internet: www.cewecolor.de , www.cewe.de , www.cewe-fotobuch.de , www.cewe-print.de www.viaprinto.de , www.saxoprint.de 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: 3 September 2013 Capital Market Conference, Frankfurt 18 September 2013 Road show in Benelux 19 September 2013 Capital Market Conference, Düsseldorf 24-26 September 2013 Capital Market Conferences in Munich 16 Oktober 2013 CEWE Capital Market Day, Dresden 7 November 2013 Announcement of the Q3 2013 figures 12 November 2013 German Equity Forum, Frankfurt About CEWE: The photo and online print service company CEWE, with 12 highly-technical production operations and a staff of around 3,300 employees in 24 European countries, is both market and technological leader. In 2012 CEWE COLOR delivered around 2.5 billion prints, 5.6 million CEWE PHOTO BOOKS and photo gift articles to more than 34,000 retail partners to generate consolidated turnover of 503.3 million euros. CEWE is a 'first mover' in the introduction of new digital technologies and products. In the new online printing service operating area, printed material for advertising is marketed through the sales platforms CEWE-PRINT.de, saxoprint and viaprinto. CEWE 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 (in future: CEWE Stiftung & Co. KGaA) is listed on the SDAX. End of Corporate News --------------------------------------------------------------------- 14.08.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 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@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 --------------------------------------------------------------------- 225671 14.08.2013