04.06.2014
CEWE Stiftung & Co. KGaA DE0005403901
DGAP-News: CEWE aims for consistent increase in dividends
DGAP-News: CEWE Stiftung & Co. KGaA / Key word(s): AGM/EGM
CEWE aims for consistent increase in dividends
04.06.2014 / 15:05
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CEWE aims for consistent increase in dividends
- Payout rate of 50%
- Dividend yield at 3.5%
- Free float reaches 69.8%
- Long-term investors targeted
Oldenburg, 04 June 2014. The regular Annual General Meeting of CEWE
Stiftung & Co. KGaA (SDAX, ISIN: DE 0005403901) approved all the agenda
items proposed by the management in Oldenburg today. The attendance rate
was 62.1%. The dividend rises to 1.50 euros per share - the fifth dividend
increase in succession. The Board of Management announced that it intended
to continue with this steady rise in the dividend in future. On the basis
of the closing price on 30 December 2013 (42.75 euros), the dividend yield
is 3.5% and the payout rate 50%. Calculated on the basis of the increased
price of 54.22 euros since this date (closing price on 3 June 2014), the
dividend yield is 2.8%. The value of the CEWE share has increased by a
total of 62.8% in the period from the 2013 Annual General Meeting to the
Annual General Meeting held today, on the basis of the closing price on 6
June 2013 (33.31 euros).
CEWE intends to acquire long-term investors
At the Annual General Meeting, Dr. Rolf Hollander, Chairman of the Board of
Management of CEWE Stiftung & Co. KGaA explained: "We would first and
foremost like to acquire long-term investors for CEWE. This is why we
intend to consistently increase the absolute dividend amount, thus
generating attractive yields for our shareholders." The basis for this
increase was sound financing, which had been guaranteed thanks to the
capital ratio of more than 50% on 31 March 2014, and investments in growth
areas. "We are thus laying the foundation for a sustainable earning power,"
Dr. Hollander emphasised. In order to make the company more attractive for
institutional investors as well, CEWE also issued 500,000 treasury shares
on 8 April 2014, thus increasing its free float to 69.8%. "We made our
shares available in order to meet the high demand among institutional
investors, while at the same time enhancing our strategic scope for
achieving growth through acquisitions," says Dr. Olaf Holzkämper, the CEWE
Stiftung & Co. KGaA Financial Director. The gross amount of proceeds from
the issue amounted to around 27 million euros for CEWE.
CEWE plans to make progress in all its business segments in 2014
CEWE is aiming to make significant progress in all three business segments
in 2014. In the high-margin segment of photofinishing, in which other
added-value products are becoming established in addition to the main
business with the CEWE PHOTO BOOK, CEWE intends to continue to expand its
leading market position and at the same time secure income. CEWE is
intentionally withdrawing from low-margin wholesale business in the retail
segment, thus actively reducing these sales. CEWE is continuing to focus on
dynamic growth for online printing, in order to create a basis for future
income. In this business segment, CEWE expects to achieve an increase in
turnover in the amount of more than 70 million euros (2013: 59.8 million
euros).
Outlook makes for another increase in dividends
The Board of Management believes that the positive growth trend in the
online printing business segment and the high earning power of
photofinishing with enable the company to make further investments in the
future in 2014 as well, with consolidated turnover in all the business
segments to increase slightly from 528.6 million euros to average in the
range of 525 to 540 million euros despite the targeted decrease in
retailing. The target earnings corridors are three million euros higher
than in the previous year. The EBIT in 2014 is to be in the range of 30
million to 36 million euros, and the EBT is to amount to 28 million to 34
million euros. After-tax earnings are to be achieved in the range of 19
million to 23 million euros. Dr. Hollander: "This is how we intend to
continue to sustainably increase the value of the company for our
shareholders."
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: www.cewe.de , www.cewe-fotobuch.de , www.cewe-print.de ,
www.viaprinto.de , www.saxoprint.de
In the app stores: Besides the CEWE FOTOWELT app (order app for most of the
CEWE products), the CEWE Investor Relations app for an iPad(R) or Android
tablet is available with annual reports, quarterly reports and
sustainability reports.
Financial schedule:
13 August 2014 Publication of the H1 2014 half-year financial
report
13 August 2014 Analysts' telephone conference on H1
19 September 2014 Capital Market Day @ photokina, Cologne
12 November 2014 Publication of the Q3 2014 interim report
12 November 2014 Analysts' telephone conference on Q3
24 November 2014 German Equity Forum, Frankfurt
About CEWE: The photo and online print service company CEWE, with 11
highly-technical production operations and a staff of around 3,200
employees in 24 European countries, is both market and technological
leader. In 2013 CEWE delivered around 2.37 billion prints, 5.8 million
copies of the CEWE PHOTO BOOK and photo gift articles to more than 30,000
retail partners to generate consolidated turnover of 528.6 million euros.
CEWE is a "first mover" in the introduction of new digital technologies and
products. In the new business segment of online printing, printed material
for advertising is marketed through the sales platforms CEWE-PRINT.de ,
saxoprint and viaprinto. In 1961 CEWE was founded by Senator h. c. Heinz
Neumüller. The company went public under the leadership of Hubert Rothärmel
in 1993. CEWE Stiftung & Co. KGaA is listed on the SDAX.
End of Corporate News
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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: Regulierter Markt in Berlin, Frankfurt (Prime Standard);
Freiverkehr in Düsseldorf, Hamburg, Hannover, München,
Stuttgart
End of News DGAP News-Service
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