Hawesko passes the 400 million euro mark
HAWESKO Holding AG / Hawesko passes the 400 million euro mark . Processed and transmitted by Thomson Reuters ONE. The issuer is solely responsible for the content of this announcement.
- Sales in 2011 up by 9% to EUR 411 million
- EBIT estimated at approximately EUR 26.5 million (previous year: EUR 25.7 million)
- Good start in 2012
Hamburg, 1 February 2012. The wine trading group Hawesko Holding AG (HAW, HAWG.DE, DE0006042708) announces its preliminary results for the fiscal year just completed (1 January-31 December 2011). Consolidated sales (before taxes) rose by 8.9% to EUR 411.4 million (2010: EUR 377.7 million). The wholesale segment once again grew particularly strongly by 11.9% and the other segments expanded their business as well: wine-shop retail (Jacques' Wein-Depot) grew by 5.4% and mail order (primarily Hanseatisches Wein- und Sekt-Kontor) by 8.1%. Consolidated sales in Germany accounted for 86% (previous year: 88%) of total sales, increasing by 5.9% in absolute terms over the previous year. According to data of the Gesellschaft für Konsumforschung (GfK), the wine market in Germany overall increased by only 1.9% in terms of value in 2011 - thus Hawesko once again increased its share of the market. According to preliminary calculations, the consolidated operating result (EBIT) of the Hawesko Group is in the range of EUR 26.5 million (previous year: EUR 25.7 million). The financial result is expected to show an expenditure of EUR 0.4 million (previous year: income of EUR 1.8 million, including extraordinary profit of EUR 3.3 million). Based on a tax rate at the normal level of 32% -in the previous year it was 26.3% due to tax-free profit - the consolidated net profit after deductions for taxes and non-controlling interests is currently expected to be in the range of EUR 17.5 million or approximately EUR 1.95 per share. Therefore the Group achieved a level above the previous years' which, adjusted for the one-off gain, was EUR 16.7 million or EUR 1.88 per share (including the extraordinary gain: EUR 20.0 million or EUR 2.24 per share). The estimated free cash flow will amount to EUR 12-13 million or EUR 1.35-1.45 per share (previous year: EUR 23.8 million or EUR 2.67 per share; on a comparable basis, EUR 16.5 million or EUR 1.85 per share); due to proactive inventory management this figure is below that of the previous year at the closing date. Hawesko's consolidated balance sheet will be audited in March 2012 and submitted to the supervisory board for review.
The management board expects that the delivery of the coveted 2009 Bordeaux vintage and the first-time consolidation of Wine & Vinos in the Hawesko Group will further boost business performance in fiscal year 2012. And although the market for Bordeaux wines of pre-2009 vintages has slowed down, increases in the double-digit percentage range both in sales and in the operating result (EBIT) for 2012 compared to 2011 are expected. Alexander Margaritoff, CEO: "Business development in 2011 - especially in the first six months - was a pleasant surprise and considerably exceeded our original expectations. In the current fiscal year 2012, and afterwards, we will continue to pursue our strategy of profitable, sustainable growth consistently. And in 2014 we are aiming to exceed sales of half a billion euros."
Hawesko Holding AG is a leading supplier of premium wines and champagnes. In fiscal year 2011, the Group achieved sales of EUR 411 million and employed 754 persons in the company's three sales channels: wine-shop 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.
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The complete 2011 annual report and accounts will be presented on 10 May 2012.
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.vinos.de (Wein & Vinos online shop with Spanish wines)
http://www.chateauclassic.com (Online shop with outstanding Bordeaux wines of older vintages)
Press/Media:
Vera Maria Bau, VMB Consulting
Phone +49 (0)228 44 96 406
Fax +49 (0)228 44 96 9406
E-mail: vmb@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@hawesko-holding.com
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.
Source: HAWESKO Holding AG via Thomson Reuters ONE
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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;
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