CeWe Color Holding AG / Quarter Results/Change in Forecast 07.11.2008 Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- CeWe Color publishes 2008 Q3 results Oldenburg, 7 November 2008. CeWe Color Holding AG (Prime Standard, ISIN DE 0005403901) achieved turnover of 117.7 million euros for the third quarter of 2008; this was matched by 123.5 million euros for the same quarter of the previous year (-4.7%). This decline was mainly due to a predicted shift of seasonal business into the fourth quarter and to incurred economic decline. In line with the development in turnover, earnings before tax and restructuring were also reduced, from 22.2 million euros in the same quarter of the previous year to 15 million euros in the third quarter of 2008. Of the 14 million euros in restructuring costs which the company had provided for in 2008, only 10.8 million euros have been required. In the third quarter no restructuring costs were incurred. As a result, earnings before tax for the third quarter also amounted to 15 million euros (2007 Q3: 21.9 million euros). Due to the incurred economic decline, CeWe Color Holding AG is adjusting its expectations for sales and earnings for the 2008 financial year. Sales figures are nevertheless likely to exceed those of the previous year, to between 415 and 420 million euros (previous year 413.5 million euros, original projection 426 million euros). Earnings before tax and restructuring are now expected to be in the range of 20 to 25 million euros (previous year 25.0 million euros, original projection 31 million euros). Due to a change in the business seasons, the fourth quarter now generates a higher contribution to sales than any other quarterly period. Effects of the incurred economic decline during the Christmas season on sales and earnings are to be expected. Price sensitivity among consumers is expected to rise and this is likely to result in a product range with lower margins. Against this background, the Board of Management has projected the resulting effects for sales and earnings in a corresponding range. The quarterly results now presented contain poorer results from France, where the company had managed to achieve a break-even result in 2007. This decline in earnings in France is prompting the Board of Management to think about how the problematic situation in France can be improved in the long term. These considerations may result in considerable drops in earnings. In all other countries a further drop of earnings is not expected. The transformation process has been successfully completed there. About CeWe Color: Photo service company CeWe Color, with 15 highly-technical production operations and a staff of around 2,800 employees in 24 European countries, is both market and technological leader. The company supplied around 2.8 billion photos, more than 1.5 million CEWE PHOTO BOOKS and photo gift articles to more than 50,000 retail partners in 2007. In 2007 turnover amounted to EUR 413.5 million. CeWe Color is 'first mover' in the launch of new digital technologies, for example ordering digital photos in the Internet or with the help of order terminals (DigiFoto Makers) in retail stores. Sales of personalised CEWE PHOTO BOOKS are developing extremely well. In 1961, CeWe Color was founded by Senator h.c. Heinz Neumüller. The company went public under the leadership of Hubert Rothärmel. CeWe Color Holding AG is listed on the Prime Standard. Should you have any queries, please contact: CeWe Color AG & Co. OHG, Hella Hahm (-400) or Axel Weber (-552) Tel.: 0441 / 404 - 234, Fax: 0441 / 404 - 421, Email: IR@cewecolor.de, Internet:www.cewecolor.de or www.cewe-fotobuch.de DGAP 07.11.2008 --------------------------------------------------------------------------- Language: English Issuer: CeWe Color Holding AG Meerweg 30-32 26133 Oldenburg Deutschland 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 Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard); Freiverkehr in Hannover, München, Hamburg, Düsseldorf, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
DGAP-Adhoc: CeWe Color publishes 2008 Q3 results
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