Hawesko Holding AG: Successful start to the year

5/3/2016, 8:00 AM (Source: GlobeNewswire)

HAWESKO Holding AG / Hawesko Holding AG: Successful start to the year . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

- Sales in Q1 2016 roughly at the level of the previous year despite high comparison base

- In the first quarter of 2016 EBIT rose to a strong € 4.8 million after € -2.6 million and increased on a like-for-like basis by 15.3%

- Management board confirms full-year forecast for 2016

Hamburg, 3 May 2016. Today the wine-trading group Hawesko Holding AG (HAW GR, HAWG.DE, DE0006042708) published its report on the first quarter of fiscal year 2016. In the quarter from 1 January to 31 March, Group sales at € 104.8 million nearly reached the level of the previous year (€ 105.8 million). This success was achieved despite a high base from the previous year and resulted from the strong domestic business. The 90% of total sales achieved in Germany rose by 0.4%, even though a realignment in the supplier portfolio of the B2B brands initially burdened the quarterly development. Foreign sales, which accounted for 10% of total sales, declined by 11.7% in the quarter under review due to the wholesale activities terminated in France in 2015 and the re-orientation of the Swiss operations.

With regard to earnings, the portfolio optimisation and structural improvements produced success. These were carried out in conjunction with the Group's rigorous focus on profitable sales. Consolidated gross profit rose by € 0.2 million to € 44.9 million in the first quarter, corresponding to a margin of 42.9% (previous year: 42.2%). In addition to the higher percentage of sales accounted for by the specialist retail segment, the concentration on profitable sales in the distance selling segment and increased cost-effectiveness had a positive impact.

The operating result (EBIT) rose to € 4.8 million in the first quarter of 2016. In the same quarter of the previous year, this figure was posted as € -2.6 million and, adjusted for non-recurring charges, as € 4.2 million. Thus, the EBIT in the first quarter of 2016 clearly took a positive turn and earnings rose on a comparable basis by 15.3%. In the wake of the increase in earnings, the comparable EBIT margin rose by 0.7 percentage points from 3.9% in the previous year to 4.6% in the quarter under review.

Consolidated net income attributable to the shareholders of Hawesko Holding AG amounted to € 3.0 million (previous year: consolidated loss of € -2.0 million). Earnings per share amounted to € 0.33, up from € -0.22 the year before. This was based on the figure of 8,983,403 shares in the reporting period (unchanged from the previous year).

There were no changes in the forecast for fiscal year 2016 of the Hawesko management board compared to the situation described in the 2015 annual report. The consolidated EBIT is expected to be in the range of € 28-29 million, which corresponds to an EBIT margin of approximately 6% (2015: 4.2%). Consolidated earnings after deductions for taxes and non-controlling interests are currently expected to be in the range of € 18-19 million (2015: € 12.2 million). The management board expects free cash flow to be on the order of € 20-22 million (2015: € 20 million), while the ROCE is expected to be on the order of 21%, up from 15% in 2015.

Hawesko Holding AG is a leading supplier of premium wines and champagnes. In fiscal year 2015, the Group achieved sales of € 477 million and employed 933 persons in the company's three sales channels: specialty retail (Jacques' Wein-Depot), wholesale operations/distribution (Wein Wolf and CWD Champagner- und Wein-Distributionsgesellschaft) and distance selling (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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Publisher: Hawesko Holding AG, Elbkaihaus, Grosse Elbstrasse 145d, 22676 Hamburg

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 (Spanish wines sold through Wein & Vinos)

Press 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:CLASSIC All Share,CDAX,SDAX,Prime All Share,GEX;
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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