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CeWe Color writes seasonal red numbers in 1Q

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Oldenburg (Dow Jones) – The photo service company CeWe Color has First quarter sales and earnings, the bottom line, however, seasonal red numbers written. After-tax loss in the first quarter was on 8.2 (16.7) million EUR has been contained, the group said on SDAX Tuesday. In the first quarter, according to show photo finisher CeWe Color traditionally negative results – the annual profit is in the holiday season in the third quarter, and increasingly in the Christmas season in fourth quarter reached. To keep its forecast for full year Oldenburg’s sticking.
Sales rose in the first quarter by 2.9% to EUR 84 million. During the photofinishing segment with EUR 61.9 million up 6% transpose, were reduced to a retail sale by 5.1% to 22.1 million EUR. Under Partly as a result of operational improvements, and by eliminating the Restructuring costs after the completion of the transformation from analogue to Digital business also increased its earnings before interest, taxes and Depreciation and amortization (EBITDA) by 8.4 million to EUR 3.5 million EUR.
The good results of the first quarter of 2010, and the operational Progress in the company let us confidently look forward and confirm our ambitious targets: earnings per share to be in doubled in 2010, "said CEO Rolf Hollander.
Once again, strong development during the reporting period, sales of Photo books. He was up 27.5% to 825 000 pieces. Also make the growing sales of digital photos which continues to decline Volume of analog photos more than necessary. CeWe Color has the further information According with 517 million photos produced more than 2.4% in the opening quarter of 2009. The Proportion of digital photos now lying at 84.1%, compared with 77.4% the previous year.

   

Website: www.cewecolor.de

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(END) Dow Jones Newswires

May 18, 2010 02:20 ET (06:20 GMT