Hawesko posts strong growth in the first six months
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HAWESKO Holding AG /
Hawesko posts strong growth in the first six months
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- Six-month sales at ? 188 million (+14% over the previous year),
EBIT ? 10.1 million (+10%),
Consolidated net income after deductions for minority interests ? 6.6 million
(-18%, adjusted for a non-recurring effect in previous year +39%)
- Growth in all three segments
- Expectations for 2011 reaffirmed
Hamburg, 4 August 2011. Today the wine-trading group Hawesko Holding AG (HAW GR,
HAWG.DE, DE0006042708) published its six-month report for the first half of
fiscal year 2011 as well as the figures for the second quarter. During the
quarterly period from 1 April to 30 June the Group increased its sales compared
to the same quarter in the previous year (? 83.3 million) by 14% to
? 95.1 million before VAT. Once again, all three business segments contributed
to the rise in sales. In addition to the growth abroad, a boost in domestic
sales was also responsible for this performance. Sales increased by 19% in the
wholesale segment, 16% in the mail order segment, and 7% in the specialist wine
retail segment (Jacques' Wein-Depot). The consolidated operating result (EBIT)
amounted to ? 5.5 million in the second quarter of 2011, up from ? 5.3 million
in the previous year. The costs for marketing activities in the wholesale
segment and for the pilot project in Sweden (The Wine Company) curbed the rise
in EBIT in the quarter under review. At ? -0.1 million, the interest expense
remained unchanged from the previous year; however, the financial result did not
reach the previous year's level of ? +2.6 million overall, as the positive one-
off effect of ? 3.3 million from the sale of a financial asset did not recur.
Consolidated net income after deductions for taxes and non-controlling interests
amounted to ? 3.6 million and ? 0.40 per share (same quarter of the previous
year: ? 5.7 million and ? 0.65 per share; adjusted for the non-recurring effect
these figures were ? 2.5 million and ? 0.28 per share).
During the first six months of fiscal year 2011 (1 January to 30 June) the Group
increased its sales by 14% to ? 188.0 million (same quarter in the previous year
? 164.3 million) and the operating result (EBIT) by 10% to ? 10.1 million
(previous year: ? 9.2 million). Consolidated net income after deductions for
taxes and non-controlling interests amounted to ? 6.6 million and ? 0.73 per
share, compared to ? 8.0 million and ? 0.91 per share (including the non-
recurring income from the sale of the financial asset); adjusted for the non-
recurring effect these figures were ? 4.7 million and ? 0.54 per share).
The figures for the first six months of 2011 reinforce the Hawesko management
board's positive assessment of the opportunities. However, a certain slowing in
the growth rate is expected for the second half of 2011. In particular, the
sales dynamics at the Bordeaux-based subsidiary Château Classic will be facing a
considerably stronger comparable basis in the next six months. Thus, the
forecast of sales growth in the low to middle single-digit percentage range and
EBIT at the previous year's good level of ? 24-26 million is reaffirmed. The
EBIT forecast includes in particular the start-up costs for the continuation of
the pilot project in Sweden, the costs to adapt the infrastructure to the growth
of the wholesale segment and the additional costs connected with a larger number
of new openings of Jacques' Wein-Depots. With regard to achieving the upper end
of the forecast range, the management board is currently even more optimistic
than at the publication of the quarterly financial report on 31 March. Several
higher estimates are in the market, and it is possible that these could be
achieved as well. However, business performance in the fourth quarter, like
every year, is very important for the Hawesko Group.
CEO Alexander Margaritoff: "In the second quarter all three business segments
again contributed to the growth of the Group - once more at a high rate in the
wholesale segment and with increasing growth rates in the stationary specialist
retail and mail order segments. We are currently working to develop our
prospects for growth still further: consistently, systematically and based on
our own strengths. Thus, we can face future developments in the wine market with
confidence, as the trends are clearly in line with our thinking. We are
optimally positioned in both the domestic and foreign markets and will
consistently take advantage of future opportunities."
Hawesko Holding AG is a leading supplier of premium wines and champagnes. In
fiscal year 2010, the Group achieved sales of ? 378 million and employed 696
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 six-month report for 2011 is available at http://www.hawesko-holding.com,
"Investor Relations" --> "Financial Info" --> "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)
http://www.chateauclassic.com (Online shop with 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
--- End of Message ---
HAWESKO Holding AG
Postfach Hamburg Deutschland
WKN: 604270;ISIN: DE0006042708;Index:GEX,CLASSIC All Share,SDAX,Prime All Share,CDAX;
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
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other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: HAWESKO Holding AG via Thomson Reuters ONE
[HUG#1536021]
Unternehmensinformation / Kurzprofil:
Datum: 04.08.2011 - 08:00 Uhr
Sprache: Deutsch
News-ID 56964
Anzahl Zeichen: 7726
contact information:
Town:
Hamburg
Kategorie:
Business News
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