Hawesko reports preliminary figures
January 24, 2013 - London
HAWESKO Holding AG /Hawesko reports preliminary figures . Processed and transmitted by Thomson Reuters ONE.The issuer is solely responsible for the content of this announcement.
- Sales in 2012 up by 9% to € 449 million
- EBIT expected at approx. € 25.9 million (prev. year € 26.7 million)
- 2013: Continuing growth
Hamburg, 24 January 2013.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 2012) today. Consolidated sales (before taxes) rose by 9.0% to € 448.6 million (2011: € 411.4 million).The mail order segment grew by a particularly strong 34.4% - due primarily to the initial consolidation of the Spanish wine specialists Wein & Vinos. The specialist retail segment (Jacques' Wein-Depot) also increased sales by 3.8% (2.4% on a like-for-like basis). As expected, the wholesale segment posted a decline in sales for the year (-2.6%) due to the stagnant demand for premium Bordeaux wines in the Far East and the resulting impact on the Bordeaux-based subsidiary Château Classic.
Consolidated sales in Germany accounted for 89% (previous year: 86%) of total sales, increasing by 12.9% in absolute terms over the previous year.In contrast, the wine market in Germany grew in terms of value by only 1.2% in 2012, according to information of the German Wine Institute (DWI). Thus Hawesko once again increased its share of the market.
According to preliminary calculations, the consolidated operating result (EBIT) of the Hawesko Group is in the range of € 25.9 million (previous year: € 26.7 million). The financial result is expected to be income of € 2.4 million (previous year: expenditure of € 0.5 million), resulting primarily from the revaluation of a financial liability in accordance with IAS 39. This procedure will also influence the tax rate: instead of the previously expected level of 31%, a rate of 27% is now anticipated. Consequently, consolidated earnings after deductions for taxes and non-controlling interests are currently expected to be in the range of € 20.3 million and approximately € 2.26 per share. This is above the level of the corresponding period in the previous year (€ 17.9 million and € 1.99 per share). Hawesko's consolidated financial statements will be audited in March 2013 and submitted to the supervisory board for review.
Previously, the Hawesko management board had anticipated an increase in sales of approximately 10% and a consolidated EBIT on the order of € 28.5 million. The lower figures were due to an atypical course of the holiday season: the extremely late placement of orders in the mail order segment meant that sales were only partially realized. At the same time, the efforts to catch up in time for the holidays involved additional expenses.
For 2013, the management board anticipates further increases in sales and EBIT compared to 2012. Alexander Margaritoff, CEO: "In the current fiscal year 2013 we will continue working on the new concepts for our online business in the mail order segment and advancing the integration of our on-and offline business in the specialist retail segment. In the wholesale segment we are expanding our foreign operations with a recently completed complementary acquisition in western Switzerland. These and other initiatives will enable us to consistently pursue the continuation of profitable and sustainable growth."
Hawesko Holding AG is a leading supplier of premium wines and champagnes. In fiscal year 2011, the Group achieved sales of € 411 million and employed 750 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). The shares of Hawesko Holding AG are listed on the Hanseatic Stock Exchange in Hamburg as well as in the SDAX small-cap index of the Frankfurt Stock Exchange.
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The complete 2012 annual report and accounts will be published on 7 May 2013.
Publisher: Hawesko Holding AG
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)
http://www.chateauclassic.com (Online shop with outstanding Bordeaux wines of older vintages)
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
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: HAWESKO Holding AG via Thomson Reuters ONE