Cewe Color: Clear vote in favour of group strategy

On the basis of the share price of Euro 35.35 per share (on 18 May 2011, at the time of the AGM resolution), shareholders will hence be receiving a dividend yield of 3.5 percent.The Board of Management and the Supervisory Board had proposed an increase in the dividend for 2010, although as much as 108 percent of the earnings, and thus more than had been generated, had been paid out for 2009. Against the background of the 159 percent increase in the free cash flow, to Euro 25.6 million, and a strong rise in the return on capital employed to 17.8 percent for 2010 (2009: 11.7 percent), the Annual General Meeting resolved on a dividend that is 19 percent higher than that of the previous year. "The positive capital ratio, the increase in earning power and the high cash flow make this record payout possible. What is important for us is to invest in corporate growth at the same time," says Dr. Rolf Hollander, Chairman of the Board of Management of Cewe Color Holding AG. The company intends to continue to combine a high dividend payout rate and investment in the future.

In 2011, the Cewe Photo Book is expected to contribute again considerably to the success of the company. According to the management’s forecast, the annual net profit for 2011 is to rise by up to 39 percent, to Euro 16 million to 19 million, with earnings per share in a range of Euro 2.36 to 2.80 (2010: Euro 2.02). "The results for the first quarter confirm this target," Dr. Hollander emphasis.

Cewe Color is currently establishing an online printing service for small volumes of high-quality, fast prints with viaprinto.de. The viaprinto.de webshop is easy to operate, processing PDF as well as Word and PowerPoint files. Earnings projected for 2011 include moderate start-up financing. Following the development phase, viaprinto is to make a relevant contribution to sales and earnings. "We want to create a basis for a continued positive development in sales and earnings for Cewe Color with commercial digital printing," Dr. Hollander added.