PRESSEPORTAL Presseportal Logo
Alle Storys
Keine Story von CEWE Stiftung & Co. KGaA mehr verpassen.

29.02.2000 – 07:37

CEWE Stiftung & Co. KGaA

ots Ad hoc-Service: CeWe Color Holding AG CeWe Color 1999: record results for the third successive year

Oldenburg (ots Ad hoc-Service) -

The sender is solely responsible for the contents of this
The largest independent European
photofinisher, CeWe Color, was able to conclude the business year
1999 with renewed rising sales and with profits growing at an even
stronger rate. As the Board of Directors of CeWe Color Holding AG
reports, the record profit for the business year 1999 is a
continuation of the development of the previous few years, which were
equally successful.
The photo laboratory chain, located in Oldenburg, was once again
able to grow at a considerably stronger rate than the market itself,
in spite of the pressure of keen competition in the industrial
photofinishing branch. CeWe Color raised the consolidated sales
revenues by 9.8 %, from EURO 358.9 million to EURO 394.2 million. The
newly-acquired Norwegian/Danish photo retail chain Japan Photo is
included in this figure to the value of EURO 13.4 million. The
increases are once again higher on the foreign market than on the
domestic market. The projected sales target was exceeded.
The CeWe Color Group is pleased to be able to report on growing
markets. The fact that leisure time, travel and tourism are the most
significant driving forces in the photographic products and services
business has once again been confirmed. The positive trend in the
tourist sector has also had a positive effect on CeWe Color's
The number of films developed by the CeWe Color Group increased
from 80.2 million to 87.0 million, which represents an increase of
more than 8.5 % in comparison to the previous year. For the first
time, CeWe Color produced more than three billion colour photos. This
is 9.3 % more than in the previous year. The enormous acceleration in
the growth rate can best be seen when comparing the figures for three
particular years: in 1990 CeWe Color first achieved an annual
production of one billion color photos, in 1996 this figure was two
billion and in 1999 it had already reached three billion.
CeWe Color operates 25 laboratories in 14 European countries. In
order to further expand its representation in Europe and to further
increase its efficiency, CeWe Color invested EURO 42.8 million in
tangible assets and software in 1999. A further EURO 0.7 million went
into share investments, or financial assets.
What is particularly pleasing is the fact that it was possible to
generate an over-proportional increase in profits from the increased
sales. The CeWe Color Group increased 1st profits generated by
custromary business activities from EURO 30,1 million to EURO 37.2
million, which represents an increase of 23.4 %. Profits before
corporate tax increased from EURO 24.2 million to EURO 29.1 million
(+ 20.5 %). The annual net profit amounts to EURO 19.4 million,
compared to EURO 16.2 million in the previous year, which means an
increase of more than 19.5 %. This is the best profit in the history
of CeWe Color and is over the company plan. The Board therefore
assumes that the Supervisory Board and the Board of Directors will
propose an adequate increase in dividends (last year EURO 0.93 after
a share split of 1:10).
With a great deal of motivation and commitment, all employees have
contributed towards the fact that CeWe Color has reached new record
heights and has been able to strengthen its position on the European
market. For this reason, the Board has decided to once again give
each employee in Germany the opportunity to acquire 30 voting
denominated CeWe Color Holding AG shares this year. As employee
shares, they will be available at a concession. Furthermore the Stock
Option Plan, introduced for the top management, will be implemented
for the second time. The company will commence with the repurchase of
its own shares (to approximately 260.000) on the stock exchange at
short notice.
Hubert Rotharmel, the Chairman of the Board, emphasises that the
growth achieved was possible only because the photo laboratory chain,
founded by Herr Senator h.c. Heinz Neumüller, started with
international expansion at an early stage. In the coming years, too,
CeWe Color will extend its regional basis and include other countries
in its market penetration. Thus the CeWe Color Group will increase
its efforts in Catalonia by means of the establishment of its own
subsidiary. The 26 industrial photo laboratory in Budapest will
commence operation before the summer season 2000. In southern
Scandinavia, too, operations are being expanded.
The Board expects the ongoing positive business trend to continue
in the year 2000, both in the field of traditional silver halide
photography and - increasingly - by means of digital photo
techniques. CeWe Color will extend the range of digital products and
services while at the same time focussing increasingly on
collaborations and joint ventures.
Further information is available on the Internet under:
Should you have any enquiries, please contact: CeWe Color Holding
AG Hella Meyer Tel.: 0441/ 404-400 Fax: 0441/ 404-421
CeWe Color intends to publish further information as follows: Week
18, 2000 Publication of the company report for 1999 04 May 2000
Conference concerning the balance sheet 09 May 2000 Analysts'
conference 29 June 2000 General Meeting

Original-Content von: CEWE Stiftung & Co. KGaA, übermittelt durch news aktuell