DGAP-News

CEWE planning its twelfth consecutive dividend increase

DGAP-News: CEWE Stiftung & Co. KGaA / Key word(s): Dividend/Preliminary Results CEWE planning its twelfth consecutive dividend increase 22.02.2021 / 15:22 The issuer is solely responsible for the content of this announcement. CEWE planning its twelfth consecutive dividend increase

• Strong Christmas business in the core business segment of photofinishing in 2020
• Group turnover rises to 727.3 million euros (2019: 720.4 million euros)
• Group EBIT increases substantially: 79.7 million euros (2019: 56.8 million euros)
• Dividend to increase for the twelfth time in succession: 2.30 euros per share

Oldenburg, 22 January 2021. CEWE Stiftung & Co. KGaA (SDAX, ISIN: DE 0005403901) concluded its 2020 financial year with a clear increase in earnings according to initial, as yet uncertified, figures which show operative earnings (EBIT) at 79.7 million euros (2019: 56.8 million euros). Turnover rose to 727.3 million euros (2019: 720.4 million euros). Renewed growth in photofinishing played a decisive role in the outstanding Christmas business, with stimulated online business as well as the stay-at-home effect resulting in growth for all the product categories in the CEWE core business segment: sales of CEWE PHOTOBOOKS, photo calendars, wall art, greeting cards and many other photo gifts went up in the Christmas season. Besides additional contribution margins from the rise in sales, the cost-reduction programme, initiated as early as in March at the onset of the pandemic, also improved the EBIT against that of the previous year. Photofinishing thus clearly more than compensated for the negative impact of the retailing and commercial online printing business segments which were hard hit by coronavirus and the related lockdown. On the basis of the growth in earnings, the dividend for the financial year is to be increased to 2.30 euros (previous year: 2.00 euros). Provided that approval is given at the Annual General Meeting, this will be the twelfth consecutive dividend increase. This makes CEWE one of the few German companies to be able to consistently raise dividends over a period covering so many years.