CEWE Stiftung & Co. KGaA

ots Ad hoc-Service: CeWe Color Holding AG Report on the I. - III. quarters of 2000: CeWe Color: good results in spite of a rainy summer

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    Oldenburg (ots Ad hoc-Service) - Due to the capricious weather during July, August and September, sales for the season did not come up to the expectations of the photofinishing branch. It was only August, the best month by far, that was entirely satisfactory - July and September were partly "submerged".

      The growth in sales and turnover of CeWe Color has therefore
experienced a slight slow-down. As at 30.09.2000, 70.6 million film
rolls were developed in the 26 industrial laboratories of CeWe Color,
and 2.5 billion photos were produced. This represents an increase of
1.1 % and 2.7 % respectively compared to the same period of the
previous year. Turnover increased from EURO 305.3 million to EURO
312.9 million, an increase of 2.5 %. After three quarters, a profit
from ordinary business of EURO 35.9 million was nevertheless
achieved, which is 1.7 % more than in the first nine months of 1999.
Net annual profit before corporation tax rose from EURO 29.9 million
to EURO 30.4 million. The increase in cash flow was even greater. It
increased by 3.6 %, from EURO 54.9 million to EURO 56.9 million.

      There was a partial reverse development at home and abroad. While
turnover on the home market was stagnant, it was once again possible
to raise profits. Turnover abroad, on the other hand, rose by 6.2 %.
Profits, however, were burdened by the costs for restructuring the
operations in France, which had already been reported at mid-year.

      For October the company is recording a pleasing boost in
business. In view of the slow-down in the growth rate in the third
quarter, it is unlikely that the original sales target of EURO 420 -
EURO 430 million can be achieved. However, the Board of Management of
CeWe Color Holding AG assumes that the company will make a profit
equivalent to the high level of the record year of 1999, should the
current trend for October continue.

      For the year 2001, the course has been set to generate an
increased growth rate: for the first time digital services and
products will contribute considerably to turnover. There is a
particularly high demand for the Internet product "Online Print
Service", as the recently-concluded agreements with the Bertelsmann
book club (www.derclub.de). Pixum (www.pixum.de) and eBaraza
(www.ebaraza.de) show. CeWe is greatly reinforcing human resources
and practical capacities in order to be able to implement other
promising agreements as soon as possible.

    Should you have any enquiries, please contact: CeWe Color Holding AG Hella Meyer Tel no.: 0441/404-400 Fax: 0441/404-421 Internet: http://www.cewecolor.de

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