CeWe Color Holding AG / AGM/EGM
02.06.2010 15:00
Dissemination of a Corporate News, transmitted by
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CEWE COLOR: Clear vote in favour of direction taken by the Group
- 99,99 % of those present at the Annual General Meeting resolve on payment
of a dividend of EUR 1.05 per share
- Rolf Hollander: 'Shareholder-friendly, sustainable dividend policy'
- CEWE PHOTO BOOKS, added value products and online marketing drive up
growth
- Earnings per share to be doubled in 2010
- Attendance rate of 65,37 %
Bremen/Oldenburg, 2 June 2010. The regular Annual General Meeting of CEWE
COLOR Holding AG (SDAX, ISIN: DE 0005403901) confirmed the strategy of the
Group and approved of all the items on the agenda proposed by the
management in Bremen today. A dividend of EUR 1.05 per denominated
participating share is being paid out for the 2009 business year. 'We are
delighted to be able to have our shareholders participate in the effective
completion of transformation-related restructuring measures and the
successful establishment of digital business - in particular business with
CEWE PHOTO BOOKS,' explained Dr. Rolf Hollander, Chairman of the Board of
Management of CEWE COLOR Holding AG. The good earnings prospects for 2010
enable the company to pursue a shareholder-friendly and at the same time
sustainable dividend policy and for the 2010 financial year the Board of
Management forecasts that earnings per share will be double those of the
previous year. The high shareholder representation of 65,37 % of the share
capital at the Annual General Meeting highlighted the strong interest of
the shareholders in the development of the company.
Consolidated profit to be paid out in full
99,99 % of those present at the Annual General Meeting approved of the
dividend proposal made by the Board of Management and the Supervisory
Board. On the basis of the sound financing structure, the rise in earning
power and the completion of the transformation phase, the Board of
Management and the Supervisory Board proposed payment of a dividend of EUR
1.05 a share (2009 dividend EUR 1.00). With consolidated profits at EUR 6.7
million, this is equivalent to a payout rate of 108%. 'The current
continued low need for investment and positive expectations in terms of
cash flow from current business operations justify the 108% distribution of
consolidated profits,' Rolf Hollander said. The dividend will be paid out
as of 4 June 2010 by Clearstream Banking AG, Frankfurt am Main, onto
shareholders' accounts held there with the custodian banks, less 25.0 %
capital gains tax and a 5.5 % solidarity surcharge on the capital gains tax
(26.375% in total). The paying bank for the dividend is BHF-BANK
Aktiengesellschaft, Frankfurt am Main.
CEWE PHOTO BOOKS, added value products and online marketing drive up growth
'The new added value products such as the CEWE PHOTO BOOK and our high
level of expertise in online marketing remain our most significant growth
drivers,' Hollander emphasised at the Annual General Meeting. In the first
quarterly period of 2010, CEWE COLOR maintained its strong growth in volume
for CEWE PHOTO BOOKS: sales grew by 27.5 % to 825,000 CEWE PHOTO BOOKS. The
company is thus confirming the positive trend shown in the 2009 business
year. The quota of photos ordered in the Internet was also rising steadily:
in the first quarter of 2009, 51.4 % of photo orders were placed in the
Internet, matched by as much as 59 % for the same period in 2010. Visible
proof of the successful transformation from analogue photos to digital
photography was the proportion of digital photos, which has now risen to
84.1 % (Q1/2009 77.4 %).
Forecast confirmed: earnings per share to be doubled in 2010
The Board of Management of CEWE COLOR Holding AG also confirmed the
forecast for the full year on the basis of results achieved in Q1 2010. For
the first three months of the current business year, the company reported
an increase in turnover, a considerable rise in its earning power and
unbroken market success for its added-value products. All the earnings
items, from EBITDA to earnings after taxes, were improved in the first
quarter of 2010, with first-quarter EBITDA for 2010 increased by EUR 8.4
million to EUR 3.5 million. The Board of Management of CEWE COLOR HOLDING
AG also presumes that the company will perform far better than the economic
trend in general in 2010: it expects to see exchange-rate adjusted turnover
increasing to EUR 420 million to 430 million. Key earnings figures are to
develop clearly above average: the management expects EBIT to grow by 28%
to 55 %, to EUR 24 million to 29 million; at the same time EBT is to rise
from EUR 16.8 million to EUR 22 million to 27 million. After-tax earnings
are forecast to rise from EUR 6.7 million to around EUR 12 to 15 million.
This means that earnings per share are to double from EUR 1.00 in 2009 to
EUR 1.76 to 2.20 (+ 76 % to + 120 %).
Financial schedule:
17 August 2010 Announcement of the figures for the second quarter of 2010
30 August 2010 SCC_Small Cap Conference, Frankfurt am Main
16 November 2010 Announcement of the figures for the third quarter of 2010
22 November 2010 German Equity Forum, Frankfurt am Main
About CEWE COLOR: Photo service company CEWE COLOR, with 12 highly
technical production operations and a staff of around 2,700 employees in 24
European countries, is both market and technological leader. The company
supplied around 2.6 billion photos and more than 3.6 million CEWE PHOTO
BOOKS to more than 50,000 retail partners in 2009. CEWE COLOR is a '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
BOOKSare 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 in 1993. CEWE COLOR Holding AG is listed on the SDAX.
Should you have any queries, please contact:
CEWE COLOR Holding AG, Axel Weber (Investor Relations) or Dr. Hella Hahm
(Press)
Tel.: 0441 / 404 - 2288, Fax: 0441 / 404 - 421,
Email: IR@cewecolor.de, Internet: www.cewecolor.de or www.cewe-fotobuch.de
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Language: English
Company: 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
Indices: SDAX
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard);
Freiverkehr in München, Hannover, Düsseldorf, Hamburg,
Stuttgart
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DGAP-News: CEWE COLOR: Clear vote in favour of direction taken by the Group
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