Hawesko: Success of the first six months continues in the third quarter

Hawesko: Success of the first six months continues in the third quarter

– Sales up by 11%

– Operating result (EBIT) +57%

– Outlook confirmed

Hamburg, 8 November 2010. The wine trading group Hawesko Holding AG (HAW GR, HAWG.DE, DE0006042708) published its report on the first nine months of fiscal year 2010 as well as its results for the third quarter today. In the quarter from 1 July to 30 September, Group sales rose by 11% to € 83.1 million before sales taxes (same period in the previous year: € 75.0 million). In the wholesale segment, the normalisation of domestic business and the recovery of the market for Bordeaux wine after the recession helped to increase sales by 24% over the same quarter in the previous year. The mail order (up by 6% over the previous year) and specialist wine retail (-0%) segments, which were less severely affected by the recession, remained stable compared to the same quarter in the previous year. The consolidated operating result (EBIT) rose sharply by 57% in the third quarter of 2010 to € 4.5 million (previous year: € 2.9 million). Consolidated earnings after taxes and minority interests at € 3.1 million were significantly higher than the figure for the previous year (€ 1.9 million). Earnings per share amounted to € 0.34, up from € 0.21 in the same quarter of the previous year.

In the first nine months (January to September) of 2010, sales of the Hawesko Group rose by 13.1% compared to the previous year to € 247.4 million, up from € 218.8 million. The operating result (EBIT) of Hawesko Holding AG for the first nine months amounted to € 13.7 million, up 48% over the same period of the previous year (€ 9.3 million). Consolidated earnings after taxes and minority interests at € 11.1 million nearly doubled with respect to the figure for the previous year of € 5.9 million (per share: € 1.24, up from € 0.66 in the previous year).

Departing from the scenario given in the 2009 annual report, the Hawesko management board had modified its forecast for 2010 in July, and is now reaffirming the modified forecast after nine months: After assuming only a moderate sales increase at the beginning of 2010, the board currently expects an increase in sales compared to the previous year (€ 339 million) in the upper single-digit percentage range in view of the economic recovery. This assumption is based on normal business development in the fourth quarter, which — like every year — is very important for the Hawesko Group due to the holiday business. Given these prerequisites, the management board assumes that the operating result (EBIT) will not only reach the magnitude of the previous year (i.e. € 22-23 million) but will surpass it by a good € 2 million. The business development since the publication of the six-month report supports this assessment.

Chief executive Alexander Margaritoff said: ‘Independent of the satisfactory business development, the third quarter was already influenced by the preparations for the fourth quarter with the holiday business so crucial to the year-end result. Particularly in this year we are entering the peak season with great confidence; we will make every effort to convert the revived optimism in industry and especially among consumers into growth.’

Hawesko Holding AG is a leading supplier of premium wines and champagnes. In fiscal year 2009 the Group achieved sales of € 339 million through its three sales channels — specialist wine retail (Jacques’ Wein-Depot), wholesale (Wein-Wolf and CWD Champagner und Wein Distributionsgesellschaft) and mail order (in particular Hanseatisches Wein- und Sekt-Kontor), and employed 657 people. 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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The complete nine-month report to 30 September 2010 is available at https://www.hawesko.com, ‘Investor Relations’ –>’Financial Info’ –> ‘Financial Reports’.

Published by:
Hawesko Holding AG
20247 Hamburg

https://www.hawesko.com (Company information)
https://www.hawesko.de (Online shop)
https://www.jacques.de (Jacques’ Wein-Depot: information and online shop)
https://www.chateauclassic.com (online sales of outstanding Bordeaux wines of older vintages)
https://www.the-wine-company.se/ (Online shop in Swedish)

Quelle: EQS