15.03.2017
CEWE Stiftung & Co. KGaA DE0005403901
DGAP-News: CEWE increases dividend for the eighth consecutive year
DGAP-News: CEWE Stiftung & Co. KGaA / Key word(s): Dividend
CEWE increases dividend for the eighth consecutive year
15.03.2017 / 13:04
The issuer is solely responsible for the content of this announcement.
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CEWE increases dividend for the eighth consecutive year
- Board of Management and Supervisory Board propose dividend of 1.80
euros/share
- Increase in dividends of 20 cents over the previous year (+12.5 %)
- Dividend yield of 2.1 % on the basis of the 2016 year-end share price
- Corporate targets all reached in 2016
Oldenburg, 15 March 2017. CEWE Stiftung & Co. KGaA (SDAX, ISIN: DE
0005403901) is proposing the eighth consecutive dividend increase to its
shareholders. After a business year 2016, which saw the Group achieving all
its corporate targets, the Board of Management and the Supervisory Board are
to propose a dividend of 1.80 euros per share for the business year of 2016
(an increase of 20 cents over the previous year) at the Annual General
Meeting to be held on 31 May 2017. "Our earning power and our sound balance
sheet allow us to positively increase our dividend for the eighth
consecutive year," explains Dr. Olaf Holzkämper, CFO of the CEWE-Group.
Success is powered by the CEWE PHOTO BOOK and other CEWE brands
The Christmas quarter met expectations, with an increase in turnover of
215.8 million euros to 228.5 million euros and EBIT growth of 40.8 million
euros in the previous year to 42.9 million euros. The fourth quarter thus
accounts for 38.5 per cent of total sales and 91.3 per cent of generated
income. The new products and the user-friendly apps for mobile devices such
as smartphones and tablets have accelerated growth dynamics. Besides coming
out first in many tests, the CEWE operations have once again documented
their excellent performance in production and delivery in Christmas business
and supplied many consumers with very personal photo gifts in time for their
Christmas celebrations. "Our CEWE PHOTO BOOK and our wide range of photo
gifts are among the most popular Christmas gifts. This makes it all the more
important for us to ensure that our customers can also rely on the
performance promise of our brand even in times when capacity utilisation is
extremely high, namely excellent service, high level of on-time delivery and
naturally the first-class quality of our products," CEO Dr. Rolf Hollander
emphasises. Considerable brand awareness, the excellent image of the CEWE
product family and satisfied customers are the basis for future growth.
Sales targets all reached - digital rate of 97.5 %
CEWE produced a total of 2.23 billion prints in 2016, thus even slightly
exceeding the top end of the target corridor of 2.10 to 2.21 billion prints.
The figure for digital prints, 2.18 billion (target: 2.05 to 2.15 billion),
is matched by only 0.056 billion prints from films (target: 0.050-0.055
billion). Already at a considerable 97.5 % in 2016, the digital rate is
gradually approaching 100 %. The high volume of digital photos is mainly the
result of CEWE PHOTO BOOK sales, which grew to 6.2 million books (target:
6.10 to 6.15 million). The majority of other brand products such as CEWE
CALENDARS, CEWE CARDS, CEWE WALL PICTURES and other photo gifts also
generated double-digit growth rates.
ROCE increases to more than 21 %
The capital ratio rose by 1.5 percentage points to 53.8 % as at 31 December
2016 (31 December 2015: 52.3 %). The ROCE, a benchmark for returns since 31
December 2015, improved from 17.2 % to 21.3 % on the basis of an EBIT in the
amount of 47.0 million euros. "Our sound financial position and our earning
power mean that we are in a position to offer our shareholders an ideally
growing dividend for the foreseeable future," explains Holzkämper.
Shareholders have earned returns of 57.8 % in 2016
On the basis of the share price at the end of 2015 (54.61 euros), the CEWE
share price grew from 29.96 euros to 84.57 euros (+ 54.9 %) in the period up
to the end of December 2016. On the inclusion of the dividend paid out for
the business year of 2015, the yield for CEWE shareholders in 2016 was thus
57.8 % in 2016.
On the basis 2016 year-end share price, shareholders are also getting a
dividend yield of 2.1 % with the dividend of 1.80 euros a share now
proposed.
The information is all based on preliminary results which have not yet been
audited. CEWE will present full, audited annual financial statements and a
forecast for the business year of 2017 during an annual report and analysts'
press conference to be held in Frankfurt am Main on 23 March 2017.
Full year of 2016 in comparison to the previous year (preliminary figures)
CEWE Group Unit 2015 2016 target 2016 actual
Digital prints in billion units 2.16 2.05-2.15 2.18
Prints from films in billion units 0.071 0.050-0.055 0.056
Total prints in billion units 2.23 2.10-2.21 2.23
CEWE PHOTO BOOK in m. units 6.0 6.10-6.15 6.2
Turnover in EUR m. 554.2 555-575 593.1
EBIT in EUR m. 36.4 40-46 47.0
EBIT margin % 6.6 6.9-8.3 7.9
EBT in EUR m. 35.9 39-45 46.2
Fourth quarter of 2016 (preliminary figures)
CEWE Group Unit Q4 2015 Q4 2016 Diff. % Diff. abs.
Digital prints in m. units 761.2 768.0 +0.9 +6.8
Prints from films in m. units 14.5 11.5 -20.7 -3.0
Total prints in m. units 775.7 779.5 +0.5 +3.8
CEWE PHOTO BOOK in m. units 2.4 2.4 -0.4 -0.01
Turnover in EUR m. 215.8 228.5 +5.9 +12.7
EBIT in EUR m. 40.8 42.9 +5.3 +2.2
EBIT margin % 18.9 18.8
EBT in EUR m. 40.8 41.7 +2.2 +0.9
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: [email protected]
Internet: cewe-fotobuch.de , cewe-photobook.com , cewe.de , cewe-print.de ,
viaprinto.de , saxoprint.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:
(insofar as already scheduled)
23 March 2017 Annual report and analysts' press conference, Frankfurt
23 March 2017 Publication of the 2016 Annual Report
29 March 2017 Bankhaus Lampe Deutschland Conference, Baden-Baden
11 May 2017 Publication of the 2017 Q1 interim report
31 May 2017 2017 Annual General Meeting, Weser-Ems-Halls, Oldenburg
10 August 2017 Publication of the 2017 H1 mid-year report
10 November 2017 Publication of the 2017 Q3 interim report
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 2016 CEWE delivered around 2.2 billion prints, 6.2 million copies of the
CEWE PHOTO BOOK and photo gift articles to around 25,000 retail partners to
generate consolidated turnover of 593.1 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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15.03.2017 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: [email protected]
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, Tradegate Exchange
End of News DGAP News Service
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554325 15.03.2017
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