Hawesko grows faster than the market again in 2006

1/31/2007, 8:00 AM (Source: GlobeNewswire)
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- Sales of € 303 million (+5.5 %), EBIT approx. € 18 million
- Even better opportunities for growth in 2007 and 2008


Hamburg, 31 January 2007. The wine trading group Hawesko Holding AG
(HAW, HAWG.DE, DE0006042708) published its preliminary results for
the fiscal year just completed (1 January - 31 December 2006) today.
The Group posted an increase of 5.5 % in 2006, higher than the growth
of the total wine market, raising consolidated sales to € 303 million
(previous year: € 287 million). In 2006, the German wine market
overall grew in terms of value for the first time in 3 years, with an
increase of 3.4 % according to data provided by the GfK (Gesellschaft
für Konsumforschung). Hawesko has thus further increased its share of
the market. The consolidated result from operations (EBIT) was at the
level expected for 2006 of approximately € 18 million (previous year:
€ 18.9 million, on a comparable basis after adjustment for
non-recurring items: € 17.6 million). The Group's pre-tax result is
expected to be higher than that of the previous year
(€ 16.2 million), as the financial result improved. As expected, the
tax rate will change from the previous year's level (33%) which was
influenced by special effects, amounting to roughly 40%, so that the
consolidated earnings after taxes and minority interests are
currently expected to be nearly € 10 million (previous year:
€ 10.7 million and € 1.22 per share). Free cash flow is anticipated
at approximately € 4 million which would be below the Group's
expectations (€ 10 million). This is due primarily to many late
orders in the mail-order segment which caused a high level of
receivables to be carried over past the year-end closing date. This
working capital position has returned to normal in the first weeks of
the current fiscal year. The consolidated financial statements of the
Hawesko Group will be certified by the auditors in March 2007 and
submitted to the supervisory board for approval.

For the fourth quarter of the past fiscal year (1 October - 31
December 2006), the Group posted sales of € 108 million, an increase
of 4.8 % over the figures for the corresponding quarter of the
previous year. The Group's EBIT was over € 12 million in the final
quarter of 2006; in the same quarter of the previous year this figure
was € 13.6 million, of which € 1.3 million were due to positive
non-recurring effects - mainly capitalised own contributions to
assets as part of the IT switchover in the mail order segment. The
stationary specialist retail segment (primarily Jacques' Wein-Depot)
increased its quarterly sales by 5.5 % over the same quarter of the
previous year to € 34 million, and by a good 3 % on a like-for-like
basis. At the end of fiscal year 2006, there were 260 outlets in
operation (end of the previous year: 256). Moreover, three new
multiwein stores were put into operation near the end of the year.
Sales in the mail order segment of € 31 million were still influenced
by the switchover to the new IT system in the previous quarter; for
that reason they were 2.3 % below the same quarter of the previous
year. The wholesale segment increased its sales by 9.9 % over the
figure for the comparable period in the previous year to € 43 million
in the fourth quarter. This was due primarily to the broadening of
business in Germany as well as growth in the French subsidiary
Château Classic - Le Monde des Grands Bordeaux, which specialises in
Bordeaux wines.

Hawesko CEO Alexander Margaritoff stated: "2006 was on the whole
positive for the Hawesko Group - and for German consumer market as
well, which is almost as important. Likewise, we view the development
of the wine market as a significant improvement that offers even
greater opportunities for the growth of the Group in 2007 and
beyond."

Hawesko Holding AG is a leading supplier of premium wines and
champagnes. In fiscal year 2006 the Group achieved sales of € 303
million through its three sales channels - specialist wine retail
(Jacques' Wein-Depot), wholesale (Wein Wolf and CWD Champagner und
Wein Distributionsgesellschaft) and mail order (in particular
Hanseatisches Wein- und Sekt-Kontor). The Group employs 550 people.

Preliminary key data for the Hawesko Group

(in € million, unaudited)

FY 2005 FY 2006 (preliminary)

Sales 287.0 302.8 +5.5 %
of which:
- Specialist wine retail
(Jacques' Wein-Depot) 96.9 101.2 +4.4 %
- Wholesale 119.6 +16.1 %
103.0
- Mail order 86.5 81.6 -5.7 %


Result from operations
(EBIT) 18.9 approx. 18 approx. -5 %
- Previous year adjusted
for
non-recurring effects 17.6 approx. approx.
18 +2 %


================================================================

(in € million, unaudited)

4th Quarter (1.10.- 31.12.):

2005 2006
(preliminary)

Sales 108.1 +4.8 %
103.2
of which:
- Specialist wine retail
(Jacques' Wein-Depot) 32.3 34.1 +5.5%
- Wholesale 39.0 42.8 +9.9%
- Mail order 31.8 31.1 -2.3%


Result from operations
(EBIT) 13.6 approx. 12 approx.-12 %
- Previous year adjusted
for
non-recurring effects 12.3 approx. approx. -2
12 %


================================================================
# # #
Publisher: Hawesko Holding AG
Postfach 20 15 52
20205 Hamburg, Germany

Internet:
http://www.hawesko.com
(Company information)
http://www.hawesko.de
(Online shop)
http://www.jacques.de
(Information Jacques' Wein-Depot)

Press/Media:
Vera Maria Bau, VMB Consulting
Phone: +49 (0)228 44 96 240
Fax +49 (0)228 44 96 298
E-mail: vmb-pr@t-online.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.com



--- End of Message ---
WKN: 604270; ISIN: DE0006042708; Index: CDAX, Prime All Share, SDAX,
CLASSIC All Share, GEX;
Listed: Amtlicher Markt in Frankfurter Wertpapierbörse, Prime
Standard in Frankfurter Wertpapierbörse,
Freiverkehr in Börse Berlin Bremen, Freiverkehr in Bayerische Börse
München,
Freiverkehr in Börse Düsseldorf, Freiverkehr in Börse Stuttgart,
Amtlicher Markt in Hanseatische Wertpapierbörse zu Hamburg,
Freiverkehr in Niedersächsische Börse zu Hannover;
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