DGAP-News: CEWE Stiftung & Co. KGaA / Key word(s): Dividend
CEWE increases dividend for the seventh consecutive year
16.03.2016 / 12:48
The issuer is solely responsible for the content of this announcement.
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CEWE increases dividend for the seventh consecutive year
- Board of Management and Supervisory Board propose dividend of 1.60
euros/share
- Dividend yield of 2.9 % on the basis of the 2015 year-end share price
- Corporate targets all reached in 2015
Oldenburg, 16 March 2016. CEWE Stiftung & Co. KGaA (SDAX, ISIN: DE
0005403901) is proposing the seventh consecutive dividend increase to its
shareholders. After a successful business year, which saw the Group
achieving all its corporate targets, the Board of Management and the
Supervisory Board are to propose a dividend of 1.60 euros per share for the
business year of 2015 (an increase of five cents over the previous year) at
the Annual General Meeting to be held on 1 June 2016. "Our earning power
and our sound balance sheet allow us to positively increase our dividend
for the seventh consecutive year," explains Dr. Olaf Holzkämper, CFO of the
CEWE-Group.
The three business segments all contribute to the positive development
After a good Christmas quarter, the turnover generated by the group
increased by 5.8 % to 554.2 million euros (2014: 523.8 million euros), thus
clearly exceeding the target of 515 million to 535 million euros. Operative
earning (EBIT) improved over-proportionately by 13.0 % to 36.8 million
euros (2014: 32.6 million euros; EBIT target for 2015: 32 million to 38
million euros). The EBIT would even have exceeded the 40-million euro mark
after adjustment by non-recurring effects such as restructuring expenses
and depreciation on goodwill in the total amount of 3.6 million euros.
After-tax earnings increased from 21.4 million euros to 22.7 million euros
(target: in the range of 20 million to 24 million euros). Earnings per
share, at 3.24 euros, also exceeded the target corridor of 2.87 to 3.45
euros (2014: 3.07 euros). "The three strategic business segments have all
contributed to the positive development in profits," says Dr. Rolf
Hollander, Chairman of the Board of Management of CEWE Stiftung & Co. KGaA.
Photofinishing confirmed its positive trend of previous years and once
again developed even better than expected. The CEO explains: "Our major
investments in marketing, our constant product innovations and our
increasing share of added value help our retail partners and give us good
earnings." In 2015 as well, the CEWE PHOTO BOOK was once again by far the
most important product. And "our expectations have been met thanks to
considerable increases in profit" also in commercial online printing and in
the retail segment. After re-positioning, it is not only the retail segment
that has generated profits again. Dr. Hollander: "With its steady growth,
commercial online printing has even achieved an operative break-even a year
earlier than planned."
Shareholders have earned returns of 9.0 % in 2015
On the basis of the share price at the end of 2014 (51.51 euros), the CEWE
share price grew from 3.10 euros to 54.61 euros (+ 6.0 %) in the period up
to the end of December 2015. On the inclusion of the dividend paid out for
the business year of 2014, the yield for CEWE shareholders in 2015 was thus
9.0 % in 2015.
On the basis 2015 year-end share price, shareholders are also getting a
dividend yield of 2.9 % with the dividend of 1.60 euros a share now
proposed.
CEWE will present full annual financial statements and a forecast for the
current business year during an annual report and analysts' press
conference to be held in Frankfurt am Main on 23 March 2016.
Full year of 2015 in comparison to the previous year
<pre>
CEWE Group Unit 2014 2015 2015
target actual
Digital prints in billion 2.2 2.10-2.15 2.16
units
Prints from films in billion 0.09 0.065- 0.07
units 0.070
Total prints in billion 2.29 2.17-2.22 2.23
units
CEWE PHOTO BOOK in m. units 5.9 6.0-6.1 6.0
Turnover in EUR m. 523.8 515-535 554.2
EBIT before one-time effects in EUR m. 32.6 - 40.4
*
EBIT margin before one-time % 6.2 - 7.3
effects *
EBIT in EUR m. 32.6 32-38 36.8
EBIT margin % 6.2 - 6.6
EBT in EUR m. 31.5 30-36 36.3
Earnings after tax in EUR m. 21.4 20-24 22.7
Earnings per share EUR/share 3.07 2.87-3.45 3.24
</pre>
Fourth quarter of 2015
<pre>
CEWE Group Unit Q4 2014 Q4 2015 Diff. % Diff.
abs.
Digital prints in m. 745.6 761.2 2.1 15.6
units
Prints from films in m. 17.8 14.5 -18.5 -3.3
units
Total prints in m. 763.4 775.7 1.6 12.3
units
CEWE PHOTO BOOK in m. 2.3 2.4 5.7 0.1
units
Turnover in EUR m. 194.8 215.8 10.8 21.0
EBIT before one-time in EUR m. 37.3 43.6 16.8 6.3
effects *
EBIT margin before one- % 19.2 20.2
time effects *
EBIT in EUR m. 37.3 41.0 9.9 3.7
EBIT margin % 19.2 19.0
EBT in EUR m. 37.2 41.1 10.5 3.9
Earnings after tax in EUR m. 25.9 26.1 1.0 0.2
</pre>
* Restructuring costs in the first quarter of 2015 and depreciation on
goodwill are reported as one-time effects
Percentage deviations have all been calculated at the exact values.
Should you have any queries, please contact:
CEWE Stiftung & Co. KGaA, Axel Weber (Investor Relations)
Tel.: 0441 / 404 - 2288, Fax: 0441 / 404 - 421, Email: IR@cewe.de
Internet: cewe.de , cewe-fotobuch.de , cewe-photobook.com , cewe-print.de
, viaprinto.de , saxoprint.de, deindesign.de
The CEWE apps are all available in the app stores: CEWE PHOTO WORLD, CEWE
POSTCARD, CEWE SERVICE and other photo apps, and the CEWE Investor
Relations app for iPad(c) or android tablets, with annual reports and
quarterly reports, presentations and sustainability reports.
Financial schedule:
23 March 2016 Publication of the 2015 Annual Report
23 March 2016 CEWE Annual Report and analysts' press conference, Frankfurt
14 April 2016 Bankhaus Lampe Deutschland Conference, Baden-Baden
12 May 2016 Publication of the interim report as at Q1 2016
1 June 2016 2016 Annual General Meeting, Weser-Ems-Halle, Oldenburg
11 August 2016 Publication of the mid-year report interim report as at Q2
2016
19-21 September 2016 Berenberg & Goldman Sachs German Corporate Conference
20-22 September 2016 Baader Investment Conference, Munich
10 November 2016 Publication of the interim report as at Q3 2016
21-22 November 2016 German Equity Forum, Frankfurt
About CEWE: The innovative photo and online print service company CEWE,
with twelve highly-technical production operations and a staff of around
3,400 employees in 24 European countries, is both market and technological
leader. In 2015 CEWE delivered around 2.2 billion prints, 6.0 million
copies of the CEWE PHOTO BOOK and photo gift articles to around 25,000
retail partners to generate consolidated turnover of 554.2 million euros.
CEWE is continuously generating new impulses in the photographic industry
with innovations for people who enjoy taking photos. In the new business
segment of commercial online printing, printed material for businesses is
marketed through the sales platforms CEWE-PRINT.de, Saxoprint und
Viaprinto. Founded in 1961 by Senator h.c. Heinz Neumüller, CEWE was taken
to the stock exchange by Hubert Rothärmel in 1993. CEWE Stiftung & Co. KGaA
is listed on the SDAX.
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16.03.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: CEWE Stiftung & Co. KGaA
Meerweg 30-32
26133 Oldenburg
Germany
Phone: +49 (0)441 40 4-1
Fax: +49 (0)441 40 4-42 1
E-mail: IR@cewe.de
Internet: www.cewe.de
ISIN: DE0005403901
WKN: 540390
Indices: SDAX
Listed: Regulated Market in Berlin, Frankfurt (Prime Standard);
Regulated Unofficial Market in Dusseldorf, Hamburg,
Hanover, Munich, Stuttgart
End of News DGAP News Service
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445801 16.03.2016
DGAP-News: CEWE increases dividend for the seventh consecutive year
| Source: EQS Group AG