Hawesko: Positive result for the first six months

8/6/2015, 8:00 AM (Source: GlobeNewswire)

HAWESKO Holding AG / Hawesko: Positive result for the first six months . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

- Sharp increase in the result from operations (EBIT) in the second quarter
- Sales in the 2nd quarter above the high level of the previous year
- Full-year forecast confirmed

Hamburg, 6 August 2015. 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 2015 as well as the figures for the second quarter.  During the quarterly period from 1 April to 30 June consolidated sales rose by 0.4% compared to the same quarter in the previous year (€ 111.0 million) to € 111.5 million before VAT.  Thus, despite the postal strike and the high base of the previous year, the Group posted growth in the second quarter and partially compensated for the dent in sales in the first three months. Thanks to stable domestic demand, the wholesale segment grew by 1.1%, despite the termination of wholesale operations in Bordeaux that had become unprofitable. Sales in the end-customer segments specialist wine retail (Jacques' Wein-Depot) and distance selling were roughly at the high level of the corresponding quarter in the previous year, at +0.2% and -0.2% respectively. The consolidated operating result (EBIT) was increased from € 3.3 million to € 4.8 million, so that the EBIT margin went up from 2.9% to 4.3% of sales. The financial result showed an expenditure of € 0.2 million (previous year: financial income of € 0.2 million). Consolidated net income after deductions for taxes and non-controlling interests for the quarter amounted to € 3.1 million and € 0.34 per share (same quarter in the previous year:  € 2.5 million and € 0.27 per share).

In the first six months of fiscal year 2015 (1 January to 30 June), sales declined by 0.8% compared to the same period in the previous year to € 217.3 million (€ 219.0 million). This was due primarily to the effect of the high comparative figure generated by anniversary offers in the previous year as well as the elimination of the wholesale activities in Bordeaux. The operating result (EBIT) amounted to € 2.2 million. It includes non-recurring charges in the reporting period arising from a personnel accrual in connection with the departure of the former CEO as well as follow-on costs from the change of control. Non-recurring expenses for consulting services had been incurred within the previous year's EBIT figure of € 7.1 million. The posted EBIT amounted to 1.0% (previous year: 3.2%) of sales. Adjusted for the extraordinary items, EBIT accounted for 4.1% of sales (previous year, adjusted: 3.7%). Consolidated net income after deductions for taxes and non-controlling interests amounted to € 1.1 million and € 0.13 per share; the figures for the same quarter in the previous year were € 5.0 million and € 0.55 per share.

The Hawesko management board has confirmed the forecast for the full fiscal year 2015 and expects an increase in sales of approximately 1% compared to the figure of € 473 million from the previous year. The EBIT in 2015 is still expected to reach approximately € 26-27 million on an adjusted basis (2014 on an adjusted basis: € 24.6 million); on an unadjusted basis, i.e., after the non-recurring charges resulting from the takeover process, it is expected to be approximately € 19-20 million (2014: € 20.1 million). The financial result will presumably be lower than in the previous year and consolidated net income is expected to be in the range of € 12-13 million. The management board expects free cash flow to be on the order of € 17-20 million for 2015.

Chief Financial Officer Ulrich Zimmermann said of today's report, "We can truly be satisfied, as the operating result showed strong growth in the second quarter. That is particularly noteworthy because our marketing activities were hindered by the latest postal strike. After the first six months of the current fiscal year, we're on a good course and are thus optimistic about the future of the Hawesko Group!"

Hawesko Holding AG is a leading supplier of premium wines and champagnes. In fiscal year 2014, the Group achieved sales of € 473 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 six-month financial report to 30 June 2015  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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