Hawesko Holding AG: Hawesko Holding slightly exceeds expectations
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Hawesko Holding AG: Hawesko Holding slightly exceeds expectations
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· Sales in 2016 higher than anticipated
· Management board expects adjusted EBIT of approximately ? 29 million
· EBIT margin at a five-year high
Hamburg, 31 January 2017. Hawesko Holding AG (HAW, HAWG.DE, DE0006042708)
announced today that, based on preliminary figures, results for the last fiscal
year (1.1. to 31.12.2016) were slightly higher than expected. Thorsten
Hermelink, the chief executive officer of the Group, was satisfied with the
business performance: "For 2016, we had expected only that sales would remain
stable compared to the previous year, as some structural changes in the supplier
portfolio had initially put pressure on sales development. However, thanks to
the booming holiday business, we were able to compensate fast and well for these
effects." Hermelink added, "With regard to the adjusted operating result (EBIT),
we assume that we will reach the upper end of our expected range. We have not
only slightly surpassed our financial targets, but have also made progress
strategically: We achieved our goals for the digitalisation of the Hawesko Group
in 2016 and prepared sustainable growth initiatives, including the acquisition
of an online marketplace and the expansion of our fine wine business. Thus we've
created good conditions to grow more strongly in 2017. Although the growth
initiatives will require investment initially, we expect EBIT in 2017 to improve
compared to the adjusted EBIT in 2016."
Consolidated sales in 2016 rose slightly from ? 476.8 million in the previous
year to ? 480.9 million, corresponding to an increase of 0.9%. Excluding the
online marketplace WirWinzer (wirwinzer.de), which was consolidated as of 1
October 2016, consolidated sales rose by 0.5%, and were thus slightly higher
than the expectations of the management board. According to preliminary
calculations, the result from operations (EBIT) of the Hawesko Group on an
adjusted basis will be in the range of ? 29 million (previous year, adjusted: ?
26.9 million). In this regard as well, the upper end of the management board's
target range was reached. In both years, the figure is adjusted for non-
recurring amounts resulting from personnel-related matters; unadjusted reported
group EBIT for 2016 is expected to be on the order of ? 30 million (previous
year: ? 20.1 million). An adjusted EBIT margin of 6% is expected - the highest
figure since 2011.
# # #
Hawesko Holding AG is a leading supplier of premium wines and champagnes. In
fiscal year 2015, the Group achieved sales of ? 477 million and employed 933
persons in the company's three sales channels: specialty retail (Jacques' Wein-
Depot), wholesale operations/distribution (Wein Wolf and CWD Champagner- und
Wein-Distributionsgesellschaft) and distance selling (especially Hawesko.de and
Vinos.de). 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 2016 annual report and accounts will be presented at the annual
press conference on 20 April 2017.
Publisher:
Hawesko Holding AG
Elbkaihaus
Grosse Elbstrasse 145d
22767 Hamburg
Internet:
hawesko-holding.com (Company information)
hawesko.de (online shop)
jacques.de (Jacques' Wein-Depot information and online shop)
vinos.de (Spanish wines sold through Wein & Vinos)
wirwinzer.de (German wines directly from producers)
Investor Relations and Press Contact:
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
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Hawesko Holding AG via GlobeNewswire
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