Cewe Color first quarter results exceed expectations

According to a press release, the improvement was mainly due to the omission of restructuring cost and the increase in sales which was driven by an increasing turnover per image processed (+13.1 percent) as well as by a positive development of the company’s retailing activities (+14.3 percent).

Cewe Color processed a total of 474 million images in the first quarter 2011, 8.3 percent less as in the same period last year. This was mainly due to the continued decline of film processing, the company said. Sales of Cewe Color’s flagship product Cewe Photobook increased 11.5 percent to 0.92 million pieces.

“Sales and results are slightly above expectations,” commented Dr. Rolf Hollander, CEO of Cewe Color Holding AG. “We are fully on track to achieve our target to increase the result per share by 39 percent this year.”