Third quarter returns Hawesko to growth
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ - Continuing growth in end-customer sales- Operating result (EBIT) remains the second best in company history- Outlook for EBIT of at least ? 19 million for 2009 confirmedHamburg, 2 November 2009. The wine trading group Hawesko Holding AG(HAW GR, HAWG.DE, DE0006042708) published its report on the firstnine months of 2009 as well as its results for the third quartertoday. In the quarter from 1 July to 30 September, Group salesincreased over the same quarter of the previous year (?70.1 million)by 7% to ? 75.0 million before sales taxes. Excluding the Swisswholesaler GlobalWine AG, which was acquired as of 1 July 2009, salesrose by 5.4%. Development within the Group remains split in two:robust in the business with end- consumers in the specialist retailsegment (Jacques' Wein-Depot) and in the mail order segment(Hanseatisches Wein- und Sekt-Kontor), but sluggish in the wholesalesegment. Despite the acquisition of GlobalWine, the wholesale segmentposted a decline in sales of 3.6%. The almost complete standstill inthe secondary market for Bordeaux wines of older vintages, togetherwith consumer restraint of ultra-premium wines in general and of therestaurant and catering industry in particular, had a strong impacton wholesale business development. In contrast Jacques' Wein-Depotincreased its sales by 7.7% in the quarter under review (6.5% on alike-for-like basis) compared to the previous year: specialadvertising motivated previously inactive customers, which gave thissegment a boost. Against the background of the successful acquisitionof new customers and even more closely focussed advertising, sales inthe mail order segment rose by 27.4% compared to the third quarter of2008. In the third quarter of 2009, consolidated earnings (EBIT)amounted to ? 2.9 million, slightly up from the previous year's valueof ? 2.8 million. Consolidated earnings of ? 1.9 million afterdeductions for taxes and minority interests rose by a considerablyhigher percentage over the figure of the previous year (? 0.5million; in the third quarter of 2008 the purchase of minority shareshad led to a non-recurring expenditure in the financial result).Profit per share amounted to ? 0.21, up from ? 0.06 in the samequarter of the previous year.In the first nine months (January to September) 2009, sales of theHawesko Group were 3.8% lower than in the previous year:? 218.8 million, down from ? 227.5 million. Without acquisitions thedecline would have been 4.3%. The operating result (EBIT) of HaweskoHolding AG for the nine-month period amounted to ? 9.3 million andremains the second-best result in company history (same period of theprevious year: ? 12.0 million). Consolidated earnings afterdeductions for taxes and minority interests of ? 5.9 million camevery close to the previous year's figure of ? 6.1 million.The management board had already taken the basic effect of theoutstanding previous year into account in its full-year planning andnotes that the figures for the current year 2009 are withinexpectations. For fiscal year 2009 overall, the board assumes adecline in sales in the medium single-digit percentage range (Groupsales in 2008: ? 339 million). As in every year, the businessdevelopment in the fourth quarter is crucial, as the Group generallyearns one third of sales and over half of the operating profit in thelast quarter of the fiscal year. The management board makes noforecast for the 2009 result, but a distinctly positive result and aclearly positive free cash flow for the year overall are expected.With regard to EBIT, the Group still has a realistic possibility ofachieving the second-best result in its history, i.e. over ? 19million.Chief executive officer Alexander Margaritoff stated, "We arecontinuing to invest vigorously in the acquisition of new customers,have made progress in our internationalisation with the acquisitionof GlobalWine in Switzerland, and have won numerous awards for ourmarketing. After the first two quarters with their very demandingbases for comparison from the previous year we were able to postgrowth again in the third quarter, and we are coming down the homestretch to the crucial holiday season in good form. Even if thefourth quarter should end up with a slight decline in sales overall,we will be able to meet expectations for the full year."Hawesko Holding AG is a leading supplier of premium wines andchampagnes. In fiscal year 2008 the Group achieved sales of ? 339million through their three sales channels - specialist wine retail(Jacques' Wein-Depot), wholesale (Wein Wolf and CWD Champagner undWein Distributionsgesellschaft) and mail order (in particularHanseatisches Wein- und Sekt-Kontor). The Group employs 614 people.In 2009, Hawesko Holding AG was named in a study by the internationalmanagement consultancy BBDO Consulting and the department forinnovative brand management of the University of Bremen, which wasthe basis for the "Best Marketing Company Award" as one of the 6German companies listed on the stock exchange with the best marketfocus. The shares of Hawesko Holding AG are listed on the HanseaticStock Exchange in Hamburg as well as in the prime standard segment ofthe Frankfurt Stock Exchange.# # #The nine-month report for 2009 is available at http://www.hawesko.comInvestor Relations--> Financial Info --> Financial Reports.Published by:Hawesko Holding AGPostfach20247 HamburgInternet:http://www.hawesko.com (Company profile)http://www.hawesko.de (Online shop)http://www.jacques.de (Jacques' Wein-Depot: Information and onlineshop)http://www.chateauclassic.com (online shop for outstanding Bordeauxwines of older vintages)Press/Media:Vera Maria Bau,VMB Public RelationsPhone: +49 (0)228 4496 406Fax +49 (0)228 4496 9406E-mail: vmb(at)veramariabau-pr.deInvestor Relations:Thomas Hutchinson, Hawesko Holding AGPhone: +49 (0)40 30 39 21 00Fax +49 (0)40 30 39 21 05E-mail: ir(at)hawesko.com --- End of Message ---HAWESKO Holding AGPostfach Hamburg GermanyWKN: 604270; ISIN: DE0006042708; Index: CDAX, Prime All Share, SDAX, CLASSIC All Share, GEX;Listed: Prime Standard in Frankfurter Wertpapierbörse, Freiverkehr in Börse Berlin, Freiverkehr in Bayerische Börse München, Freiverkehr in Börse Düsseldorf, Freiverkehr in Börse Stuttgart, Freiverkehr in Niedersächsische Börse zu Hannover, Regulierter Markt in Frankfurter Wertpapierbörse, Regulierter Markt in Hanseatische Wertpapierbörse zu Hamburg;
Datum: 02.11.2009 - 08:00 Uhr
Sprache: Deutsch
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