Hawesko shines in the first quarter of 2008

4/29/2008, 12:05 PM (Source: GlobeNewswire)
Corporate news announcement processed and transmitted by Hugin ASA. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- -------------- - Sales +10%, operating result (EBIT) more than doubled - Hawesko again outperforms the market - Positive forecast for the year confirmed
Corporate news announcement processed and transmitted by Hugin ASA.
The issuer is solely responsible for the content of this
announcement.
----------------------------------------------------------------------
--------------
- Sales +10%, operating result (EBIT) more than doubled
- Hawesko again outperforms the market
- Positive forecast for the year confirmed



Hamburg, 29 April 2008. At today's annual results press conference in
Hamburg, the wine trading group Hawesko Holding AG (HAW DE, HAWG.DE,
DE0006042708) presented its annual report for 2007 with the complete
year-end financial accounts as well as its three-month report for
2008 (for the period January to March). In the first three months of
the current fiscal year, the Group increased its sales by 10.2% to
80.7 million euros (first three months of the previous year: 73.3
million euros); in the same period the German wine market overall
declined by 1.4% in terms of value according to data of the
Gesellschaft für Konsumforschung (GfK). In the first quarter of 2008,
the result from operations (EBIT) amounted to 4.6 million euros
(previous: 2.0 million euros), while the Group's net result after
deductions for taxes and minority interests amounted to 2.7 million
euros (previous year: 0.9 million euros). The sharp rise compared to
the previous year resulted from the delivery of wines of the much
sought-after 2005 Bordeaux vintage and from the increased
profitability of the individual business segments. Profit per share
amounted to 0.31 euros, up from 0.11 euros in the comparable quarter
of the previous year.
The Hawesko management board has based its planning for the year on a
good first quarter and expects an increase in sales in the moderate
single-digit percent range for the year 2008 overall. The result from
operations (EBIT) is expected to rise significantly, namely in the
double-digit percent range, due to the non-recurrence of several
charges (2007: 18.3 million euros). Based on the anticipated
reduction in tax expense, the net result should nearly double (2007:
6.7 million euros). For 2009 the management board expects further
increases in sales as well as EBIT. The free cash flow for 2008 is
generally expected to reach the level of 2007 (13.6 million euros).
Chief executive officer Alexander Margaritoff stated: "In 2007,
Hawesko consciously spent more to expand its customer base and still
maintained operating profits at the level of the previous year. In
the current fiscal year 2008, we will benefit from our enhanced
market position and drive our profitable growth forward, for example
via e-commerce, or - if a suitable opportunity arises - by means of
external growth abroad."
The annual report presented for 2007 confirms the previously
announced figures for the reporting period: Net Group sales
(excluding VAT) increased by 10.3% to 333.7 million euros, while a
rise of only 1% was posted for the wine market overall in 2007
(including VAT, according to GfK data). Hawesko thus once again
gained market share. At 18.3 million euros, the operating result
(EBIT) was at the level of the previous year (18.6 million euros),
although several special factors pressured EBIT. Thus the costs for
the test of the discontinued specialist store concept amounted to 1.3
million euros, while the closure of a subsidiary in Poland and the
merger of the wholesale and mail order logistics each cost 0.5
million euros. The German company tax reform approved in 2007 made a
write-down of tax assets necessary with an additional extraordinary
tax expense of just under 3 million euros. Thus consolidated earnings
after deductions for taxes and minority interests declined to 6.7
million euros (previous year: 10.8 million euros), and the profit per
share in 2007 to 0.76 euros - on a comparable basis, ie, adjusted for
the additional tax expense, to 1.07 euros (previous year: 1.23
euros). The return on capital employed (ROCE) for 2007 reached the
sustainable minimum level defined by the management board of 16%
(previous year: 18%), while the free cash flow amounted to 13.6
million euros (previous year: 5.6 million euros). The annual
shareholders' meeting on 16 June 2008 will be proposed an increase in
the dividend to 1.00 euro (previous year: 0.85 euros).
Hawesko Holding AG is a leading supplier of premium wines and
champagnes. In fiscal year 2007 the Group achieved sales of 334
million euros through their 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 609 people.
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.
# # #
The full annual report for 2007 as well as the three-month report for
2008 can be found at http://www.hawesko.com, "Investor Relations"-->
"Financial Data"--> "Financial Reports".
Published by:
Hawesko Holding AG
Postfach 20 15 52
20205 Hamburg, Germany
Internet:
http://www.hawesko.com
(Company profile)
http://www.hawesko.de
(Online shop)
http://www.jacques.de
(Information about Jacques' Wein-Depot)
Press/Media:
Vera Maria Bau, VMB Consulting
Phone: +49 (0)228 4496 240
Fax +49 (0)228 4496 298
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.com



--- End of Message ---

HAWESKO Holding AG
Postfach 201552 Hamburg

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, 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;
Copyright GlobeNewswire, Inc. 2016. All rights reserved.
You can register yourself on the website to receive press releases directly via e-mail to your own e-mail account.