DGAP-News: CEWE planning its thirteenth consecutive dividend increase

CEWE planning its thirteenth consecutive dividend increase

• Dividend for the 2021 financial year is to increase to EUR 2.35 per share
• Dividend increase documents the continuous and reliable development of the company as a whole
• Well over 80% of all CEWE employees participate in dividends as CEWE shareholders

Oldenburg, 28 February 2022. Based on the strong result in 2021, the Management Board of CEWE Stiftung & Co. KGaA (SDAX, ISIN: DE 0005403901) decided at today's meeting to propose an increase in the dividend for the 2021 financial year to 2.35 euros (previous year: 2.30 Euro). Subject to the approval of the Supervisory Board and the Annual General Meeting, this will be the thirteenth dividend increase in a row. This makes CEWE one of the few German companies to be able to consistently raise dividends over a period covering so many years. "The outstanding performance of all CEWE employees made it possible to increase the dividend again for the thirteenth year in a row. It is this continuous and reliable development in all dimensions that strategically - also in view of the current political and economic crisis - offers CEWE a secure and solid foundation," emphasizes Dr. Christian Friege, CEO of CEWE Stiftung & Co. KGaA. Thanks to the company's internal employee share program, well over 80% of all CEWE employees are participating in the proposed dividend as CEWE shareholders.

Dividend to increase for the thirteenth time in succession
On the basis of preliminary results for the 2021 financial year the Board of Management of CEWE Stiftung & Co. KGaA resolved to propose to the Supervisory Board that the dividend for each eligible share be raised to 2.35 euros (dividend for the 2020 financial year: 2.30 euros). Subject to the approval of the Supervisory Board in its meeting on the financial statements on 23 March 2022 and of the shareholders at the Annual General Meeting on 15 June 2022, the proposed dividend of 2.35 euros a share is equivalent to a dividend yield of 2.3% based on the current share price of 101.80 euros (Xetra closing price February 28, 2022). It is the thirteenth consecutive dividend increase as well as being the highest dividend in the history of the company.

The 2021 financial year also closed with a strong result
CEWE concluded its 2021 financial year with another strong result according to preliminary as yet uncertified figures. These show operative earnings (EBIT) of 72.2 million euros, a level within the range of 72 to 84 million euros planned for 2021 (2020 EBIT: 79.7 million euros). Turnover amounts to 692.8 million euros (2020: 727.3 million euros). In 2020, the fact that customers had to stay at home due to the coronavirus, particularly during the Christmas season, had a greater impact on demand for photo products than in the financial year just concluded. The EBIT for 2021 increased by around 27% over that of the pre-coronavirus year of 2019 (EBIT in 2019: 56.8 million euros).

Commercial Online-Print and Retail achieve turnaround
Preliminary calculations show that the business segment of commercial online printing as well as that of retailing have achieved a turnaround and concluded the 2021 financial year with slightly positive earnings. An optimised production and cost structure ensured that commercial online printing was able to overcome the negative earnings situation (resulting from declines in demand due to the coronavirus) of the previous year (EBIT Commercial Online-Print 2020: -3.7 million euros). Retailing saw success being achieved through optimisation of the branch structure and a reduction in the number of stores. In 2020 this reduction had still resulted in restructuring costs (EBIT Retail 2020: -4.2 million euros).

CEWE remains strong: stable trend in difficult times for the economy in general
A high level of customer satisfaction, a strong performance in the 2021 financial year, and a traditionally very stable stock of available capital all highlight the fact that CEWE - in spite of a coronavirus-related persistently difficult economic situation overall - is maintaining its extremely sound position. "It is important to be able to rely on a sound, sustainable foundation, particularly in trying times for the economy as a whole. Our forward-looking mode of operation allows us to continue to develop our business, even in pandemic times," Friege explains.

Full year 2021 in comparison with the previous year and targets (preliminary figures)

Q4 2021 (preliminary figures)

Exact values have always been used for percentage deviation calculations.

Details on the financial year of 2021 are all based on preliminary, as yet uncertified data. Audited annual financial statements will all be presented at the Annual Report and Analysts' Press Conference on 31 March 2022.

Should you have any queries, please contact:
CEWE Stiftung & Co. KGaA, Axel Weber (Investor Relations)
Tel.: 0441 / 404 - 2288, Fax: 0441 / 404 - 421, Email:

Internet: cewe.de , deindesign.de , whitewall.com , cheerz.com ,
cewe-print.de , viaprinto.de , saxoprint.de, laser-line.de

The CEWE apps are all available in the app stores: CEWE FOTOWELT, CEWE POSTCARD and other photo apps, and the CEWE Investor Relations App for iPads(c) or android tablets, with annual reports and quarterly reports, presentations and sustainability reports.

Financial schedule
(insofar as already scheduled)

31.03.2022 CEWE 2022 Annual Report and Analysts' Press Conference
11.05.2022 Publication of the 2022 Q1 interim communication
15.06.2022 2022 Annual General Meeting
09.08.2022 Publication of the 2022 HY1 interim report
20.09.2022 2022 Berenberg & Goldman Sachs German Corporate Conference
21.09.2022 2022 Baader Investment Conference
11.11.2022 Publication of the 2022 Q3 interim communication
29.11.2022 2022 German Equity Forum

About CEWE:
The CEWE Group is Europe's leading photo service and online printing supplier.

From its beginnings in 1912, CEWE has progressed to become the leading photo service company for all those wanting to make more of their photos. This is mainly due to the much-awarded CEWE PHOTOBOOK, with more than six million books being sold each year. Customers can purchase other personalised photo products under the brand names of CEWE, WhiteWall and Cheerz - and from many leading retailers in Europe. Concerning their personal photos, they are inspired to produce a variety of creative designs and they trust the company with more than 2 billion photos every year.

The CEWE Group has also set up a highly efficient production system for advertising prints and business prints for the online printing market, which is still a new market. Every year billions of high-quality printed products are delivered reliably to their purchasers through the SAXOPRINT, LASERLINE and viaprinto sales platforms.

The CEWE Group, through the founder family of Neumüller as an anchor shareholder, focuses on sustainable corporate management and has already received many awards for this effort: economically sustainable in the long term; cooperative and fair in dealings with customers, employees and suppliers; socially responsible and protective of the environment and resources. An example of this is the climate-neutral process used to produce all the CEWE brand-name products.

The CEWE Group has a staff of 4,000 employees and operates in 21 countries. CEWE is listed on the SDAX. More information is available at company.cewe.de.