Hawesko expects a good holiday season

11/6/2014, 8:00 AM (Source: GlobeNewswire)

HAWESKO Holding AG / Hawesko expects a good holiday season . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

- Group growth picks up in the third quarter
- Third-quarter EBIT significantly higher than the previous year despite special charges
- EBIT forecast for 2014 adjusted, still with a noticeable rise

Hamburg, 6 November 2014. Today the wine-trading group Hawesko Holding AG (HAW GR, HAWG.DE, DE0006042708) published its report on the first nine months of fiscal year 2014 as well as the figures for the third quarter.  During the quarterly period from 1 July to 30 September, consolidated sales rose in comparison to the same quarter in the previous year (€ 99.5 million) by 3.9% to € 103.4 million, so that corporate growth picked up as expected over the course of the year. With an increase of 14.2%, the mail order segment grew the most strongly, primarily via activities in conjunction with the 50th anniversary of the Hanseatisches Wein- und Sekt-Kontor. In the specialist retail segment, 40th anniversary activities contributed to growth of 5.4% at Jacques' Wein-Depot (adjusted for new openings: 4.6%). Due to a discontinued operation, the wholesale segment posted a decline in sales of 5.4% compared to the same quarter in the previous year. The consolidated operating result (EBIT) in the second quarter of 2014 amounted to € 2.5 million, up by 29.7% from the previous year (€ 1.9 million). The financial result was € -0.3 million (previous year: € -0.4 million). Consolidated net income after deductions for taxes and non-controlling interests for the quarter amounted to € 1.6 million and € 0.18 per share (same quarter in the previous year: zero).

In the first nine months of fiscal year 2014 (1 January to 30 September), sales rose by 2.1% to € 322.4 million (comparable period in the previous year: € 315.8 million). The operating result (EBIT) at € 9.6 million was € 2.5 million or 20.6% below the figure for the previous year (€ 12.1 million). Due to more favourable results below the EBIT line, consolidated earnings after deductions for taxes and non-controlling interests amounted to € 6.6 million and € 0.73 per share, above the previous year's figures of € 6.4 million and € 0.71 per share.

Adjusted for the sales from the delivery of the Bordeaux subscription wines and the discontinued operation, both in the nine-month reporting period and in the previous year's period, sales in the core business rose by 5.7%. From this standpoint, all three business segments grew: In addition to Jacques? Wein-Depot with its sales increase of 4.9%, the mail order segment grew by 8.4% and the wholesale segment by 3.9% respectively.

The Hawesko management board continues to expect a rise in sales in the order of magnitude of 1-2% compared to the previous year (€ 465 million). The board has changed its forecast for the operating result (EBIT) and consolidated net income. In the context of the continuous development of the Group, higher expenses than expected totalling € 1.8 million were incurred for consulting services; these are by nature non-recurring costs. According to current estimates of the management board, the profits in the subsidiaries will not suffice to compensate for effects reducing the result; an increase in profitability, which is expected particularly in the mail order segment after stepping up its infrastructure, will occur more slowly than expected. Thus, the management board has revised the previous EBIT forecast of € 26 million accordingly: it now expects that the result will be in a range between between 5.1% and 5.3% (previous year: 4.8%) of sales. According to the current assessment of the management board, consolidated EBIT in the magnitude of € 24-25 million (compared to € 22.6 million in the previous year) is expected, assuming normal development of the important holiday business in the fourth quarter. Consolidated net income is now expected to be around € 16 million (previously: roughly € 17 million).

CEO Alexander Margaritoff stated: "As expected, we were able to catch up on sales revenues in the third quarter against the previous quarter. We were likewise able to catch up in profits, but this development fell short of our expectations. However, looking forward gives me reason to be confident: the start of the all-important fourth quarter in October was satisfactory and all signals are go for the pre-Christmas business!"

Hawesko Holding AG is a leading supplier of premium wines and champagnes. In fiscal year 2013, the Group achieved sales of € 465 million and employed 925 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 and Wein & Vinos). 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.

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The full nine-month financial report to 30 September 2014 is available for downloading at http://www.hawesko-holding.com, --> "Press" or "Investors" --> "Downloads".

Hawesko Holding AG, 20247 Hamburg
http://www.hawesko-holding.com  (Company information)
http://www.hawesko.de                   (Online shop)
http://www.jacques.de                   (Jacques' Wein-Depot locations and online shop)
http://www.vinos.de   (Spanish wines sold through Wein & Vinos)

Press/Media Contact and 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

This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX 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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Plan 5 Hamburg Germany

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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