Hawesko enjoys a good first half in 2010
(Thomson Reuters ONE) -
HAWESKO Holding AG / Hawesko enjoys a good first half in 2010 processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
- Six-month sales at ? 164 million (+14% over the previous year), EBIT at
? 9.2 million (+44%), consolidated net income after deductions for minority
interests at ? 8.0 million (+103%)
- Upturn in the wholesale segment and with ultra-premium wines
- Expectations for 2010 revised upward
Hamburg, 30 July 2010. The wine trading group Hawesko Holding AG (HAW GR,
HAWG.DE, DE0006042708) published its report on the first six months of fiscal
year 2010 as well as its results for the second quarter today. In the quarter
from 1 April to 30 June, Group sales rose by 18% to ? 83.3 million before sales
taxes (same period in the previous year: ? 70.8 million). The primary driver of
this growth was the wholesale segment with a sales increase of 46% over the
comparable quarter in the previous year; the segment particularly benefited from
the revival in customer interest in ultra-premium and Bordeaux wines. Sales in
the mail order segment increased by 5%, while the stationary specialist wine
retail segment (Jacques' Wein-Depot) maintained sales at the previous year's
level. The consolidated operating result (EBIT) in the second quarter of 2010
was ? 5.3 million (previous year: ? 3.3 million). The profit from the sale of a
financial shareholding put the financial result squarely in the black at ? 2.6
million (same quarter in the previous year: ? -0.2 million). As a result,
consolidated net income after deductions for taxes and minority interests nearly
tripled for the quarter to ? 5.7 million and ? 0.65 per share (comparable
quarter in the previous year: ? 2.1 million and ? 0.23 per share).
Thus the Hawesko Group succeeded in increasing sales and results for the first
six months of 2010 (1 January to 30 June) as well: sales rose by 14% to ? 164.3
million (same period in the previous year: ? 143.8 million) and the operating
result (EBIT) increased by 44% to ? 9.2 million (previous year: ? 6.4 million).
Consolidated net income after taxes and minority interests doubled to
? 8.0 million and ? 0.91 per share (previous year: ? 4.0 million and ? 0.45 per
share).
In view of the now noticeably improved general conditions and the positive
business development in the first six months of 2010, the Hawesko management
board has modified its forecast for 2010: After previously assuming only a
moderate sales increase, the board currently expects a sales increase in the
upper single-digit percentage range against the previous year (? 339 million).
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 premises, the management board assumes that the
operating result (EBIT) can not only reach the magnitude of the previous year
(i.e. ? 22-23 million) but can surpass it by a good ? 2 million.
The forecast remains valid that the extraordinary financial expenditure of ?
1.8 million from the year 2009 will not recur in the financial result. In
addition, the one-time profit of ? 3.3 million realised from the sale of the
shareholding in Majestic Wine plc in June 2010 has an effect on net income in
the current fiscal year. Thus the financial result for 2010 will show net
income in the range between ? 1-2 million, compared to a net expenditure of ?
2.6 million in 2009. The EBT should therefore be in the range of ? 25-27 million
(up from ? 19.8 million in 2009). The estimated free cash flow is thus revised
upwards to an expected figure of ? 20 million (previous forecast: approximately
? 15 million).
Chief executive Alexander Margaritoff said: "The Hawesko Group has emerged
stronger from the economic crisis. We are well ahead of the game in the first
six months and look forward to the second half of the year - including the
important holiday season - with confidence. As the overall economic situation is
improving significantly faster and more strongly than we had dared to hope, we
are accordingly revising our guidance upwards with regard to the ongoing
business development in the current fiscal year."
Hawesko Holding AG is a leading seller of premium wines and champagnes in
Germany. 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.
# # #
The complete half-year financial report for 2010 is available at
http://www.hawesko.com, "Investor Relations" -->"Financial Info" --> "Financial
Reports".
Published by:
Hawesko Holding AG, 20247 Hamburg
Internet:
http://www.hawesko.com (Corporate information)
http://www.hawesko.de (Online shop)
http://www.jacques.de (Jacques' Wein-Depot: information and online shop)
http://www.chateauclassic.com (online sales of outstanding Bordeaux wines of
older vintages)
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#1434874]
--- 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;
This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the information contained therein.
All reproduction for further distribution is prohibited.
Source: HAWESKO Holding AG via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 30.07.2010 - 08:01 Uhr
Sprache: Deutsch
News-ID 34849
Anzahl Zeichen: 0
contact information:
Town:
Hamburg
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 207 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Hawesko enjoys a good first half in 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).
