Category: English Press Archives


Hawesko appoints two new members to management board

Hawesko appoints two new members to management board

Hamburg, 6 January 2015. Hawesko Holding AG (HAW GR, HAWG.DE, DE0006042708) announces that Alexander Borwitzky and Nikolas von Haugwitz have been appointed to the management board effective 1 January 2015. Mr. Borwitzky succeeds Bernd Hoolmans, who retired at the end of 2014.

Mr. Borwitzky will be responsible primarily for the stationary specialist wine retail segment.
Mr. von Haugwitz will represent the mail order segment on the management board in the future. The composition of the management board reflects a long-standing decision of the supervisory board that each of the three business segments should be represented in the corporate management board. Consequently, this body now consists of five members. The other members are, as before, chief executive officer Alexander Margaritoff, chief financial officer Ulrich Zimmermann and Bernd G. Siebdrat, who is responsible for the wholesale segment.

Alexander Borwitzky, born 1968, completed his MBA at Nottingham University Business School in 1992. He has been the head of Marketing, Sales and IT at Jacques’ Wein-Depot since January 2013. Prior to that, he held various management positions in international retail groups over the past 20 years.

Nikolas von Haugwitz, also born 1968, completed his degree in economics at the Free Univerisity of Berlin in 1968. Since 2003 he has held management positions at Hanseatisches Wein- und Sekt-Kontor HAWESKO GmbH, and since 2008 he has been Managing Director for marketing und purchasing. He is also Managing Director of Carl Tesdorpf GmbH.

Hawesko Holding AG is a leading supplier of premium wines and champagnes. In fiscal year 2013, the Group achieved sales of € 465 million and employed 925 persons in the company’s three sales channels: specialty retail (Jacques’ Wein-Depot), wholesale operations (Wein Wolf and CWD Champagner- und Wein-Distributionsgesellschaft) and mail order (especially Hanseatisches Wein- and Sekt-Kontor and Wein & Vinos). The shares of Hawesko Holding AG are listed on the Hanseatic Stock Exchange in Hamburg as well as in the Prime Standard Segment of the Frankfurt Stock Exchange.

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Publisher:
Hawesko Holding AG, 20247 Hamburg
Internet:
https://www.hawesko-holding.com (Company information)
https://www.hawesko.de          (Online shop)
https://www.jacques.de          (Jacques’ Wein-Depot locations and online shop)
https://www.vinos.de        (Spanish wines sold through Wein & Vinos)

Press/Media Contact and Investor Relations:
Thomas Hutchinson, Hawesko Holding AG
Phone: +49 (0)40 30 39 21 00
Fax +49 (0)40 30 39 21 05
E-mail: ir@hawesko-holding.com

Quelle: EQS


Hawesko Holding AG: Clarification of the deadline for accepting Tocos’ tender offer

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Hawesko Holding AG: Clarification of the deadline for accepting Tocos’ tender offer

Hamburg, 30 December 2014 – By the act of convening an extraordinary general meeting of shareholders of Hawesko Holding AG (HAW GR, HAWG.DE, DE0006042708), the deadline for accepting the tender offer of Tocos Beteiligung GmbH has been extended  to midnight of 30 January 2015 local time in Frankfurt am Main, Germany. It does not end on 29 January 2015 as was reported in various publications.
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Publisher:
Hawesko Holding AG, 20247 Hamburg

Internet:
https://www.hawesko-holding.com

Press/Media Contact and Investor Relations:
Thomas Hutchinson, Hawesko Holding AG
Phone: +49 (0)40 30 39 21 00
Fax +49 (0)40 30 39 21 05
E-mail: ir@hawesko-holding.com

Quelle: EQS


Hawesko Holding invites shareholders to an extraordinary general meeting

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Hawesko Holding invites shareholders to an extraordinary general meeting

Hamburg, 19 December 2014 – In view of the takeover offer of Tocos Beteiligung GmbH, the management board of Hawesko Holding AG (HAW GR, HAWG.DE, DE0006042708) is inviting the shareholders of the company to an extraordinary general shareholders’ meeting. It will take place on 26 January 2015 at 11:00 at Stage Operettenhaus, Spielbudenplatz 1, 20359 Hamburg.

Tocos Beteiligung GmbH is offering to buy the shares of each shareholder at a price of EUR 40.00 per share. The management board and supervisory board of Hawesko Holding designated this offer as financially inadequate in separately reasoned opinions and recommended that the shareholders refrain from submitting their shares for sale.

At the general meeting the shareholders will have the opportunity to obtain comprehensive information about all important aspects of the offer as well as the latest developments in conjunction with the offer and to discuss these. This includes the appropriateness of the offer price, the intended reduction of the dividend and the future orientation of business operations and strategy as well as the plan for generational change in the management board and its effect on the company. The management of the company will naturally be available to the shareholders to answer questions on all of these aspects. No formal resolutions on these matters will be made at the extraordinary general meeting.
‘We want to ensure that our shareholders have plenty of time to think their decisions through thoroughly. In addition, the principles of good management require that we offer shareholders a platform for the exchange of opinions and discussion, so that they can make a decision based on the best information available as whether to accept or to reject the offer from Tocos,’ said Ulrich Zimmermann, CFO of Hawesko Holding.

The convening of the extraordinary general meeting will extend the acceptance period for the takeover offer presumably until 29 January 2015.

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Publisher:

Hawesko Holding AG, 20247 Hamburg

Internet:

https://www.hawesko-holding.com

Press/Media Contact and Investor Relations:

Thomas Hutchinson, Hawesko Holding AG

Phone: +49 (0)40 30 39 21 00

Fax +49 (0)40 30 39 21 05

E-mail: ir@hawesko-holding.com

Quelle: EQS


Hawesko increases dividend to € 1.65 per share

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Hawesko increases dividend to € 1.65 per share

– Tenth consecutive rise in the ordinary dividend

– Final figures slightly higher than the preliminary announcement

Hamburg, 22 March 2013.  The wine trading group Hawesko Holding AG (HAW GR, HAWG.DE, DE0006042708) expects to increase the dividend to € 1.65 per share for fiscal year 2012 (previous year: € 1.60). At its meeting yesterday, the supervisory board of the company approved the corresponding dividend proposal of the management board, on which the annual general meeting will vote on 17 June 2013. With the proposed rise, the ordinary dividend will be raised for the tenth consecutive year since 2002. A total of € 14.8 million will be paid out to the shareholders (previous year: € 14.4 million). 

Furthermore, the supervisory board reviewed, discussed and ratified the annual and consolidated financial statements for fiscal year 2012; the annual financial statements were approved. As previously announced, Group sales in 2012 (1 January to 31 December) rose by 9.0% to € 448.6 million (previous year: € 411.4 million).  The final consolidated financial statement shows a result from operations (EBIT) of € 26.1 million (previous year: € 26.8 million).  Consolidated net income after deductions for taxes and non-controlling interests amounted to € 22.5 million and € 2.51 per share in 2012; adjusted for the non-recurring positive effects in the financial result, € 17.9 million and € 1.99 per share (previous year: € 17.9 million and € 1.99 per share). The free cash flow (cash flow from ongoing business activities minus investments and interest paid out) amounted to € -8.6 million after the acquisition of the majority interest in Wein & Vinos; adjusted for this extraordinary item it amounted to € 11.1 million and € 1.23 per share.  In the previous year it reached a level of € 12.3 million and € 1.37 per share.

The management board will present details of the results of fiscal year 2012 as well as the business performance in the first three months of the current fiscal year 2013 at the annual press conference of Hawesko Holding AG on 7 May 2013.

Hawesko Holding AG is a leading supplier of premium wines and champagnes. In fiscal year 2012, the Group achieved sales of € 449 million and employed 847 persons in the company’s three sales channels: specialty retail (Jacques’ Wein-Depot), wholesale operations(Wein Wolf and CWD Champagner- und Wein-Distributionsgesellschaft) and mail order (especially Hanseatisches Wein- und Sekt-Kontor and Wein & Vinos). The shares of Hawesko Holding AG are listed on the Hanseatic Stock Exchange in Hamburg as well as in the SDAX small-cap index of the Frankfurt Stock Exchange.

Quelle: EQS


Hawesko reports preliminary figures

Hawesko reports preliminary figures

(January 24, 2013)

– Sales in 2012 up by 9% to € 449 million

– EBIT expected at approx. € 25.9 million (prev. year € 26.7 million)

– 2013: Continuing growth

Hamburg, 24 January 2013.  The wine trading group Hawesko Holding AG (HAW, HAWG.DE, DE0006042708) published its preliminary results for the fiscal year just completed (1 January-31 December 2012) today. Consolidated sales (before taxes) rose by 9.0% to € 448.6 million (2011: € 411.4 million).  The mail order segment grew by a particularly strong 34.4% – due primarily to the initial consolidation of the Spanish wine specialists Wein & Vinos. The specialist retail segment (Jacques’ Wein-Depot) also increased sales by 3.8% (2.4% on a like-for-like basis). As expected, the wholesale segment posted a decline in sales for the year (-2.6%) due to the stagnant demand for premium Bordeaux wines in the Far East and the resulting impact on the Bordeaux-based subsidiary Château Classic.

Consolidated sales in Germany accounted for 89% (previous year: 86%) of total sales, increasing by 12.9% in absolute terms over the previous year.  In contrast, the wine market in Germany grew in terms of value by only 1.2% in 2012, according to information of the German Wine Institute (DWI). Thus Hawesko once again increased its share of the market.

According to preliminary calculations, the consolidated operating result (EBIT) of the Hawesko Group is in the range of € 25.9 million (previous year: € 26.7 million). The financial result is expected to be income of € 2.4 million (previous year: expenditure of € 0.5 million), resulting primarily from the revaluation of a financial liability in accordance with IAS 39. This procedure will also influence the tax rate: instead of the previously expected level of 31%, a rate of 27% is now anticipated. Consequently, consolidated earnings after deductions for taxes and non-controlling interests are currently expected to be in the range of € 20.3 million and approximately € 2.26 per share. This is above the level of the corresponding period in the previous year (€ 17.9 million and € 1.99 per share). Hawesko’s consolidated financial statements will be audited in March 2013 and submitted to the supervisory board for review.

Previously, the Hawesko management board had anticipated an increase in sales of approximately 10% and a consolidated EBIT on the order of € 28.5 million. The lower figures were due to an atypical course of the holiday season: the extremely late placement of orders in the mail order segment meant that sales were only partially realized. At the same time, the efforts to catch up in time for the holidays involved additional expenses.

For 2013, the management board anticipates further increases in sales and EBIT compared to 2012. Alexander Margaritoff, CEO: ‘In the current fiscal year 2013 we will continue working on the new concepts for our online business in the mail order segment and advancing the integration of our on-and offline business in the specialist retail segment. In the wholesale segment we are expanding our foreign operations with a recently completed complementary acquisition in western Switzerland. These and other initiatives will enable us to consistently pursue the continuation of profitable and sustainable growth.’

Hawesko Holding AG is a leading supplier of premium wines and champagnes. In fiscal year 2011, the Group achieved sales of € 411 million and employed 750 persons in the company’s three sales channels: specialty retail (Jacques’ Wein-Depot), wholesale operations (Wein Wolf and CWD Champagner- und Wein-Distributionsgesellschaft) and mail order (especially Hanseatisches Wein- and Sekt-Kontor). The shares of Hawesko Holding AG are listed on the Hanseatic Stock Exchange in Hamburg as well as in the SDAX small-cap index of the Frankfurt Stock Exchange.

Quelle: EQS


AD-HOC Hawesko : Temporary earnings weakness in 3rd quarter

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AD-HOC Hawesko : Temporary earnings weakness in 3rd quarter

(October 30, 2012)

– No recovery in premium older-vintage Bordeaux wines

– Higher investments in business expansion

– Full-year forecast still positive

Hamburg, 30 October 2012. The wine merchant and trading group Hawesko Holding AG (HAW GR, HAWG.DE, DE0006042708) announces today on the basis of preliminary numbers for the third quarter that it expects EBIT to be € 1.9 million for the period July to September 2012, thus falling below the previous year’s figure of € 3.6 million. The main reason for the drop in earnings is the continued weak demand worldwide for premium Bordeaux wines, especially in the Far East, and its effect on business at the subsidiary Château Classic. Beyond this, investments in business expansion have been boosted – above all with regard to a re-alignment of products and offerings as part of focusing Carl Tesdorpf – Weinhandel zu Lübeck strategically on even higher-quality wines and rarities, and to expansion generally of e-commerce activities. According to preliminary calculations, earnings development of the other subsidiaries will not suffice to compensate the profit-reducing effects in the third-quarter.  Group EBIT for the nine-month period is nevertheless expected to be € 13.9 million, nearly 2 % above the previous year (€ 13.7 million). A detailed analysis as well as the complete interim accounts to 30 September 2012 will be published in the upcoming nine-month interim report on 6 November 2012.

From the standpoint of the Hawesko Management Board there is only a slight change in full-year 2012 targets due to the earnings weakness in this quarter: The Board expects a sales increase of approximately 10 % against the previous year (€ 411 million). Regarding the EBIT margin, the Board now assumes that the previous year’s figure (6.5 %) will not be surpassed. According to Board’s current estimate, group EBIT is expected on the order of € 28.5 million (previous year: € 26.7 million), whereby a normal course of business is assumed for the important pre-Christmas trading period in the fourth quarter.

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Published by:

Hawesko Holding AG

20247 Hamburg

Investor Relations:

Thomas Hutchinson, Hawesko Holding AG

Telephone (+49 40) 30 39 21 00

Fax (+49 40) 30 39 21 05

E-mail: ir@hawesko-holding.com

Quelle: EQS


Hawesko: Successfully integrated acquisition boosts Group growth

Hawesko: Successfully integrated acquisition boosts Group growth

(November 06, 2012)

Hamburg, 6 November 2012. Today the wine-trading group Hawesko Holding AG (HAW GR, HAWG.DE, DE0006042708) published its report on the first nine months of fiscal year 2012 as well as the figures for the third quarter.  During the quarterly period from 1 July to 30 September the Group increased its sales compared to the same quarter in the previous year (€ 88.1 million) by 5% to € 92.3 million before VAT. The increase came primarily from the mail order segment, where the initial consolidation of the Spanish wine specialist Wein & Vinos resulted in a sales increase of 33%. In the specialist wine-shop retail segment (Jacques’ Wein-Depot), sales rose by 1%. In contrast, the wholesale segment posted a decline in sales due to the significantly lower global demand for older Bordeaux vintages. This development, originating primarily in East Asia, affected mainly the subsidiary Château Classic: Despite increases in Switzerland and stable figures in Germany, sales in this segment declined by 8% compared to the same quarter of the previous year. The consolidated operating result (EBIT) declined to € 1.9 million in the third quarter of 2012 (previous year: € 3.6 million). This was due to the drop in sales at Château Classic as well as increased investments in the expansion of operations, e.g. in conjunction with the strategic reorientation of Carl Tesdorpf – Weinhandel zu Lübeck and the general expansion of e-commerce activities.  Consolidated net income after deductions for taxes and non-controlling interests for the quarter amounted to € 1.2 million and € 0.13 per share (same quarter in the previous year: € 2.3 million and € 0.25 per share).

During the first nine months (January to September) of 2012 sales of the Hawesko Group rose by 10% compared to the previous year (€ 276.1 million) to € 304.7 million. The operating result (EBIT) of Hawesko Holding AG for the first nine months amounted to € 13.9 million, thus rising by 2% over the equivalent period of the previous year. Consolidated earnings after deductions for taxes and non-controlling interests amounted to € 8.8 million and € 0.98 per share, remaining roughly at the previous year’s level of € 8.9 million and € 0.99 per share.

The demand for premium Bordeaux wines of the pre-2009 vintages remains very quiet around the globe, and there are no signs that this market will recover any time soon. That has an impact particularly on the outlook for our Bordeaux-based subsidiary Château Classic, which achieved sales of just under € 27 million in fiscal year 2011. Based on its current estimate, the management board expects that sales at Château Classic will not exceed € 10 million in 2012. For the rest of the Group, the main sales territory is Germany, where the general economic and business conditions are still classified as good. This assessment also applies to the sales territories of Sweden and Switzerland.

The forecast of the Hawesko management board for fiscal year 2012 has changed only slightly compared to the situation described in the 2011 annual report: it expects an increase in Group sales by 10% compared to the previous year (€ 411 million). The EBIT margin is not expected to exceed the figure of the previous year (6.5%). According to the current assessment of the management board, consolidated EBIT on the order of € 28.5 million (compared to € 26.7 million in the previous year) is expected, assuming normal development of the important pre-Christmas holiday business in the fourth quarter. After deduction of the outpayment for the acquisition of Wein & Vinos, free cash flow in the magnitude of € 2-4 million for 2012 is expected.

CEO Alexander Margaritoff:  ‘Our originally higher expectations for sales and results of the nine-month period were not fulfilled, above all due to the persistently weak demand for Bordeaux wines of older vintages. However, we reaffirm our positive assumptions for the other parts of the Group. We are now focusing fully on the most important season of the year and aiming for further increases in sales and profit in 2013.’

Quelle: EQS


Hawesko: Successfully integrated acquisition boosts Group growth

Hawesko: Successfully integrated acquisition boosts Group growth

(November 06, 2012)

Hamburg, 6 November 2012. Today the wine-trading group Hawesko Holding AG (HAW GR, HAWG.DE, DE0006042708) published its report on the first nine months of fiscal year 2012 as well as the figures for the third quarter.  During the quarterly period from 1 July to 30 September the Group increased its sales compared to the same quarter in the previous year (€ 88.1 million) by 5% to € 92.3 million before VAT. The increase came primarily from the mail order segment, where the initial consolidation of the Spanish wine specialist Wein & Vinos resulted in a sales increase of 33%. In the specialist wine-shop retail segment (Jacques’ Wein-Depot), sales rose by 1%. In contrast, the wholesale segment posted a decline in sales due to the significantly lower global demand for older Bordeaux vintages. This development, originating primarily in East Asia, affected mainly the subsidiary Château Classic: Despite increases in Switzerland and stable figures in Germany, sales in this segment declined by 8% compared to the same quarter of the previous year. The consolidated operating result (EBIT) declined to € 1.9 million in the third quarter of 2012 (previous year: € 3.6 million). This was due to the drop in sales at Château Classic as well as increased investments in the expansion of operations, e.g. in conjunction with the strategic reorientation of Carl Tesdorpf – Weinhandel zu Lübeck and the general expansion of e-commerce activities.  Consolidated net income after deductions for taxes and non-controlling interests for the quarter amounted to € 1.2 million and € 0.13 per share (same quarter in the previous year: € 2.3 million and € 0.25 per share).

During the first nine months (January to September) of 2012 sales of the Hawesko Group rose by 10% compared to the previous year (€ 276.1 million) to € 304.7 million. The operating result (EBIT) of Hawesko Holding AG for the first nine months amounted to € 13.9 million, thus rising by 2% over the equivalent period of the previous year. Consolidated earnings after deductions for taxes and non-controlling interests amounted to € 8.8 million and € 0.98 per share, remaining roughly at the previous year’s level of € 8.9 million and € 0.99 per share.

The demand for premium Bordeaux wines of the pre-2009 vintages remains very quiet around the globe, and there are no signs that this market will recover any time soon. That has an impact particularly on the outlook for our Bordeaux-based subsidiary Château Classic, which achieved sales of just under € 27 million in fiscal year 2011. Based on its current estimate, the management board expects that sales at Château Classic will not exceed € 10 million in 2012. For the rest of the Group, the main sales territory is Germany, where the general economic and business conditions are still classified as good. This assessment also applies to the sales territories of Sweden and Switzerland.

The forecast of the Hawesko management board for fiscal year 2012 has changed only slightly compared to the situation described in the 2011 annual report: it expects an increase in Group sales by 10% compared to the previous year (€ 411 million). The EBIT margin is not expected to exceed the figure of the previous year (6.5%). According to the current assessment of the management board, consolidated EBIT on the order of € 28.5 million (compared to € 26.7 million in the previous year) is expected, assuming normal development of the important pre-Christmas holiday business in the fourth quarter. After deduction of the outpayment for the acquisition of Wein & Vinos, free cash flow in the magnitude of € 2-4 million for 2012 is expected.

CEO Alexander Margaritoff:  ‘Our originally higher expectations for sales and results of the nine-month period were not fulfilled, above all due to the persistently weak demand for Bordeaux wines of older vintages. However, we reaffirm our positive assumptions for the other parts of the Group. We are now focusing fully on the most important season of the year and aiming for further increases in sales and profit in 2013.’



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The third-quarter financial report to 30 September 2012 is available at https://www.hawesko-holding.com, ‘Investor Relations’ –> ‘Financial Info’ –> ‘Financial Reports’.

Publisher:

Hawesko Holding AG

20247 Hamburg

Internet:
https://www.hawesko-holding.com (Company information)
https://www.hawesko.de (Online shop in German)
https://www.vinos.de (Wein & Vinos selection of Spanish wines in German)
https://www.jacques.de (Jacques’ Wein-Depot: Information and online shop in German)
https://www.chateauclassic.com (Online shop with outstanding Bordeaux wines of older vintages)
https://www.ninetyninebottles.de (Online shop: The perfect wine for every occasion – in German)
https://www.weinlet.de (Online shop: The outlet site for wine fans – in German)



Press/Media:     

Vera Maria Bau,VMB Public Relations  

Phone: +49 (0)228 4496 406    

Fax:     +49 (0)228 4496 9406    

E-mail: vmb(at)veramariabau-pr.de   

Investor Relations:

Thomas Hutchinson, Hawesko Holding AG

Phone:  +49 (0)40 30 39 21 00

Fax:      +49 (0)40 30 39 21 05

E-mail: ir(at)hawesko-holding.com

Quelle: EQS


AD-HOC Hawesko : Temporary earnings weakness in 3rd quarter

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AD-HOC Hawesko : Temporary earnings weakness in 3rd quarter

(October 30, 2012)

– No recovery in premium older-vintage Bordeaux wines
– Higher investments in business expansion
– Full-year forecast still positive

Hamburg, 30 October 2012. The wine merchant and trading group Hawesko Holding AG (HAW GR, HAWG.DE, DE0006042708) announces today on the basis of preliminary numbers for the third quarter that it expects EBIT to be € 1.9 million for the period July to September 2012, thus falling below the previous year’s figure of € 3.6 million. The main reason for the drop in earnings is the continued weak demand worldwide for premium Bordeaux wines, especially in the Far East, and its effect on business at the subsidiary Château Classic. Beyond this, investments in business expansion have been boosted – above all with regard to a re-alignment of products and offerings as part of focusing Carl Tesdorpf – Weinhandel zu Lübeck strategically on even higher-quality wines and rarities, and to expansion generally of e-commerce activities. According to preliminary calculations, earnings development of the other subsidiaries will not suffice to compensate the profit-reducing effects in the third-quarter.  Group EBIT for the nine-month period is nevertheless expected to be € 13.9 million, nearly 2 % above the previous year (€ 13.7 million). A detailed analysis as well as the complete interim accounts to 30 September 2012 will be published in the upcoming nine-month interim report on 6 November 2012.

From the standpoint of the Hawesko Management Board there is only a slight change in full-year 2012 targets due to the earnings weakness in this quarter: The Board expects a sales increase of approximately 10 % against the previous year (€ 411 million). Regarding the EBIT margin, the Board now assumes that the previous year’s figure (6.5 %) will not be surpassed. According to Board’s current estimate, group EBIT is expected on the order of € 28.5 million (previous year: € 26.7 million), whereby a normal course of business is assumed for the important pre-Christmas trading period in the fourth quarter.

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Published by:
Hawesko Holding AG
20247 Hamburg

Investor Relations:
Thomas Hutchinson, Hawesko Holding AG
Telephone (+49 40) 30 39 21 00
Fax (+49 40) 30 39 21 05
E-mail: ir@hawesko-holding.com

Quelle: EQS


Hawesko surpasses high figures of the previous year

Hawesko surpasses high figures of the previous year

(August 03, 2012)

– Half-year sales above the € 200 million mark for the first time

– EBIT increase higher than sales growth

– Continued optimism for 2012

Hamburg, 3 August 2012. Today the wine-trading group Hawesko Holding AG (HAW GR, HAWG.DE, DE0006042708) published its six-month report for the first half of fiscal year 2012 as well as the figures for the second quarter.  During the quarterly period from 1 April to 30 June the Group increased its sales compared to the same quarter in the previous year (€ 95.1 million) by 14.6% to € 109.0 million before sales tax.  The growth extended across all three business segments. With an increase of 46.8%, the mail order segment posted the strongest growth in sales, due primarily to the initial consolidation of the Spanish wine specialist Wein & Vinos. In the specialist retail segment, Jacques’ Wein-Depot grew by 4.9% (adjusted for new openings by 3.3%), even though a large part of the Easter business already took place in the previous quarter. The wholesale segment posted a sales increase of 3.7% thanks to solid domestic business. The consolidated operating result (EBIT) in the second quarter of 2012 rose by 34.7% to € 7.4 million, a higher increase than sales growth – the previous year’s figure was € 5.5 million.  The extraordinarily high number of 2009 vintage Bordeaux wines delivered in the quarter under review played a significant role in this. Interest expenditures rose from € 0.1 million to € 0.2 million. Consolidated net income after deductions for taxes and non-controlling interests for the quarter amounted to € 4.8 million and € 0.54 per share (same quarter in the previous year:  € 3.6 million and € 0.40 per share).

In the first six months of 2012 (1 January to 30 June), the Hawesko Group increased its sales by 12.9% to € 212.4 million (same period in the previous year: € 188.0 million) and the operating result (EBIT) increased by 19.1% to € 12.0 million (previous year: € 10.1 million).  Consolidated net income after deductions for taxes and non-controlling interests for the quarter amounted to € 7.7 million and € 0.85 per share; the figures for the same quarter in the previous year were € 6.6 million and € 0.73 per share.

After the outstanding performance in the first six months, business progress for the full year 2012 is taking on more shape, so that the Hawesko management board can now estimate developments in individual areas more precisely. The secondary market for premium Bordeaux wines of the pre-2009 vintages remains very quiet around the globe, and there are no signs that this market will recover any time soon. That has an impact on the outlook for our Bordeaux-based subsidiary Château Classic, which achieved sales of just under € 27 million in fiscal year 2011. Based on today’s assessment, its sales will most likely be in the range of € 10-15 million for the current fiscal year. In contrast, assumptions going forward for the other divisions of the Group remain very positive, so that we expect an increase overall between 10-12% in consolidated sales compared to the previous year (€ 411 million) and an EBIT margin between 6.6% and 7.0% (previous year: 6.5%).

CEO Alexander Margaritoff: ‘Last year the first half was very strong and the second showed rather restrained growth. With this half-year financial report, we have successfully taken the high hurdle of the previous year’s baseline and can now look forward to the second half of the year with unruffled optimism, and we are aiming for further increases in sales and profit in 2013.’

Hawesko Holding AG is a leading supplier of premium wines and champagnes. In fiscal year 2011, the Group achieved sales of € 411 million and employed 750 persons in the company’s three sales channels: specialty retail (Jacques’ Wein-Depot), wholesale operations (Wein Wolf and CWD Champagner- und Wein-Distributionsgesellschaft) and mail order (especially Hanseatisches Wein- and Sekt-Kontor). The shares of Hawesko Holding AG are listed on the Hanseatic Stock Exchange in Hamburg as well as in the SDAX small-cap index of the Frankfurt Stock Exchange.

Quelle: EQS


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