Hawesko: Successful beginning to 2010
(Thomson Reuters ONE) -
HAWESKO Holding AG / Hawesko: Successful beginning to 2010 processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
Hamburg, 6 May 2010. At today's annual results press conference in Hamburg, the
wine trading group Hawesko Holding AG (HAW DE, HAWG.DE, DE0006042708) presented
its financial statements for 2009 with complete annual accounts as well as its
three-month interim report for 2010 for the period from January to March. In the
first three months of the current fiscal year, the Group was able to boost its
sales by 10.8% to ? 81.0 million (same quarter in the previous year:
? 73.0 million). In the same period the overall wine market in Germany declined
by 4.4 %, according to market research of the Gesellschaft für Konsumforschung
(GfK). All three group business segments were able to post gains in comparison
with the previous year: specialist wine shops (Jacques' Wein-Depot) by 6.9 % (on
like-for-like selling space 6.6 %), wholesale by 18.1 % and mail order by 6.6 %.
In the first quarter of 2010 the result from operations (EBIT) increased by
25.1 % against the previous year (? 3.1 million) to ? 3.9 million; mail order
(Hanseatisches Wein- und Sekt-Kontor) and specialist wine shops (Jacques')
contributed to this rise. Consolidated net income excluding minority interests
amounted to ? 2.3 million (? 0.26 per share), after ? 1.9 million (? 0.21 per
share) in the previous year.
The business figures for the first quarter of 2010 are at the upper end of the
Hawesko management board's expectations. An economic recovery by the end of the
year is, however, from the management board's point of view not at all sure. In
addition, the course of business just in the fourth quarter of each year has a
significant effect on the total annual profit. For this reason, the management
board currently keeps to its conservative forecast from the latest annual
report: It assumes a moderate sales increase for fiscal year 2010 against the
previous year (Group sales 2009: ? 339 million) and an operating profit (EBIT)
of a similar magnitude to the previous year (ie, ? 22-23 million). The
extraordinary finance expense in 2009 of ? 1.8 million will not recur in 2010;
this should pave the way for a rise in consolidated net income, and in earnings
per share. It anticipates a free cash flow of around ? 15 million.
Chief executive Alexander Margaritoff said: "No doubt: the finance and economic
crisis has not simply passed over the wine market without leaving a trace.
Nevertheless the Hawesko Group was able in fiscal year 2009 to grow faster than
the market for the twelfth year in a row, and beyond that to achieve an
excellent set of results. After a good start with the first quarter of 2010 we
are extremely confident of achieving strong results in the current year,
especially since the economy seems to have touched bottom, and the feared sharp
declines in the employment market and consumer spending have failed thus far to
materialise."
The annual report presented for 2009 confirms the previously announced figures
for the reporting period: net Group sales were maintained almost at the level of
the previous year (? 338.8 million), namely at ? 338.5 million. Sales in Germany
rose by 1.8 % compared to the previous year, while a rise of only 1.2 % was
posted for the German wine market overall in 2009. At ? 22.4 million, even
though the operating result (EBIT) did not reach the record level of the
previous year (? 25.5 million), it nevertheless is the second-best in the
history of the company. Consolidated net income excluding minority interests
amounted to ? 13.1 million (previous year: ? 14.6 million), earnings per share ?
1.48 (previous year: ? 1.67). Return on capital employed for 2009, at just under
20 % (previous year: 23 %), clearly exceeded the hurdle rate defined by the
management board of 16 %; free cash flow, at ? 20.8 million (previous year: ?
17.5 million), attained a record value even in spite of continuing high
investment in the development of the company and the further reduction of
financial debt. An increase in the dividend to ? 1.35 (previous year: ? 1.20) is
being proposed to the annual shareholders' meeting on 14 June 2010; thus the
2009 fiscal year will be the seventh consecutive year with a dividend increase.
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 GEX of the Frankfurt Stock Exchange.
# # #
The full annual report for 2009 as well as the quarterly financial report to 31
March 2010 can be found at http://www.hawesko.com
"Investor Relations"--> "Financial Data"--> "Financial Reports".
Published by:
Hawesko Holding AG
20247 Hamburg
Internet:
http://www.hawesko.com
http://www.hawesko.de
http://www.jacques.de
about Jacques' Wein-Depot)
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.com
[HUG#1412262]
--- End of Message ---
HAWESKO Holding AG
Postfach Hamburg Deutschland
WKN: 604270;ISIN: DE0006042708;Index:SDAX,Prime All Share,CDAX,CLASSIC All Share,GEX;
Listed: Freiverkehr in Börse Stuttgart,
Freiverkehr in Börse Berlin,
Freiverkehr in Börse Düsseldorf,
Freiverkehr in Bayerische Börse München,
Freiverkehr in Niedersächsische Börse zu Hannover,
Prime Standard in Frankfurter Wertpapierbörse,
Regulierter Markt in Frankfurter Wertpapierbörse,
Regulierter Markt in Hanseatische Wertpapierbörse zu Hamburg;
Unternehmensinformation / Kurzprofil:
Datum: 06.05.2010 - 10:15 Uhr
Sprache: Deutsch
News-ID 20389
Anzahl Zeichen: 0
contact information:
Town:
Hamburg
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 212 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Hawesko: Successful beginning to 2010"
steht unter der journalistisch-redaktionellen Verantwortung von
HAWESKO Holding AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
