DGAP-News

CEWE: Sales, turnover and profit on target at mid-year - Seite 2

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