Hawesko: a good start in fiscal year 2012
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HAWESKO Holding AG /
Hawesko: a good start in fiscal year 2012
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- Quarterly sales +11%, operating result (EBIT) at the level of the previous
year
- Wein & Vinos consolidated from January 2012
- Positive outlook confirmed
Hamburg, 10 May 2012. At today's annual press conference in Hamburg, the wine
trading group Hawesko Holding AG (HAW DE, HAWG.DE, DE0006042708) presented its
annual report for 2011 with the complete year-end financial statements as well
as its quarterly financial report for the period from January to March 2012. The
Group increased its sales in the first three months of the current fiscal year
by 11.3% to ? 103.4 million (same quarter in the previous year: ? 92.9 million),
including Wein & Vinos GmbH, which was consolidated for the first time at the
beginning of the year. Domestic sales excluding Wein & Vinos rose by 10.5%;
during the same period the German wine market, according to data from the AC
Nielsen Company, grew overall by 3.2% in terms of value. The specialist retail
segment of the Group (Jacques' Wein-Depot) grew by 7.2% (like-for-like by
5.4%), while the mail order segment grew by 42.2% including Wein & Vinos (16.7%
excluding the subsidiary). Sales in the wholesale segment fell by 5.8%: In the
same quarter of the previous year, Château Classic, the subsidiary specialising
in older Bordeaux vintages benefited greatly from the extraordinary global
demand for such wines - the normalisation of this market thus resulted in a
decline which also put pressure on the operating result. In the first quarter of
2012, the operating result (EBIT) remained at ? 4.6 million, the level of the
previous year. Consolidated net income excluding non-controlling interests
amounted to ? 2.8 million (? 0.31 per share), down slightly from ? 2.9 million
(? 0.33 per share) in the previous year.
The key figures for the first quarter of 2012 are within the range anticipated
by the Hawesko management board. The general economic and business conditions in
Germany are still deemed to be good. The management board expects increases in
both sales and EBIT clearly within the double-digit percentage range. The
financial result is expected to be approximately ? 1.0 million (2011:
? 0.5 million). Profit due to non-controlling interests is expected to rise to
approximately ? 1.0 million (2011: ? 0.3 million), so that an increase of the
consolidated net income in the single-digit percentage range is anticipated. For
2013 the management board once again expects increases in sales and EBIT as well
as in consolidated net income. After deducting the outpayment for the
acquisition of Wein & Vinos, free cash flow in the magnitude of ? 7-8 million
for 2012 and more than ? 20 million in 2013 is expected.
CEO Alexander Margaritoff: "In 2011 the Hawesko Group once again succeeded in
gaining a greater share of the market. Growth in foreign sales - underpinned
particularly by our operations in France, Switzerland and Sweden - was even
stronger than in our home market. The Group as a whole achieved new highs for
sales and EBIT in 2011. We believe that the numerous Group activities in the e-
commerce area and the acquisition of the Spanish-wine specialist Wein & Vinos
will leave us well-equipped to tackle the fast-paced business development and to
achieve increases in sales and earnings in the double-digit percentage range in
2012."
The annual report presented for 2011 confirms the previously announced figures
for the reporting period: Consolidated sales rose by 8.9% to ? 411.4 million.
Sales in Germany rose by 5.9% compared to the same period of the previous year,
while the wine market overall increased by 1.9% in 2011. With an operating
result (EBIT) of ? 26.7 million, the figure of the previous year
(? 25.7 million) was surpassed. Consolidated net income excluding non-
controlling interests amounted to ? 17.9 million, while earnings per share
amounted to ? 1.99, thus exceeding the figure for the same period in the
previous year, which - adjusted for the non-recurring gain - had amounted to
? 16.7 million and ? 1.88 per share (including the extraordinary profit:
? 20.0 million and ? 2.24 per share).
The return on capital employed (ROCE) for 2011, at 25% (previous year: likewise
25%), once again clearly exceeded the management board's defined long-term
hurdle rate of 16%. Free cash flow amounted to ? 12.3 million (previous year: ?
23.8 million). An increase in the regular dividend to ? 1.60 (previous year:
? 1.50 plus a bonus dividend of ? 0.25) will be proposed to the annual
shareholders' meeting on 18 June 2012; thus fiscal 2011 will be the ninth
consecutive year with a rise in the dividend.
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.
# # #
The full annual report for 2011 as well as the three-month report to 31 March
2012 can be found at http://www.hawesko-holding.com, "Investor Relations" -->
"Financial Data" --> "Financial Reports".
Publisher:
Hawesko Holding AG, 20247 Hamburg
Internet:
http://www.hawesko-holding.com
(Company information)
http://www.hawesko.de
(Online shop)
http://www.jacques.de
(Jacques' Wein-Depot information and online shop)
Press/Media:
Vera Maria Bau, VMB Consulting
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
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Source: HAWESKO Holding AG via Thomson Reuters ONE
[HUG#1610729]
Datum: 10.05.2012 - 10:01 Uhr
Sprache: Deutsch
News-ID 144893
Anzahl Zeichen: 7295
contact information:
Town:
Hamburg
Kategorie:
Business News
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