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2014-05-15

Hawesko: Off to a good start in 2014

ood start in 2014. Processed and
transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely
responsible for the content of this announcement.
- Sales in the first quarter of 2014 up by 4.8%

- Operating result (EBIT) rose by proportionately higher 12.8%
- Positive outlook confirmed

Hamburg, 15 May 2014. At today's annual press conference in Hamburg, the wine
trading group Hawesko Holding AG (HAW DE, HAWG.DE, DE0006042708) presented
its financial statements for 2013 as well as its quarterly financial report
for the period from January to March 2014.

The Group increased its sales in the first three months of the current fiscal
year by 4.8% over the same period in the previous year, from € 103.0 million
to € 108.0 million. All three sales channels contributed to growth: The
specialist wine-shop retailing segment of the Group (Jacques' Wein-Depot)
grew by 2.7% (based on comparable sales area by 1.9%), while the mail order
and wholesale segments each posted sales growth of 5.6%. The consolidated
result from operations (EBIT) in the first quarter of 2014 rose
proportionately higher due to better capacity utilisation in the mail order
segment by 12.8%, from €3.4 million to €3.8 million. Consolidated net income
excluding non-controlling interests amounted to € 2.5 million (€ 0.28 per
share), compared to € 2.2 million (€ 0.24 per share) in the previous year.

The Hawesko management board considers the general economic and business
conditions in Germany to be good, and notes that the figures for the first
quarter of 2014 are within expectations. For the full fiscal year 2014, the
board anticipates an increase in sales in the order of magnitude of 1-2%
compared to the previous year (€ 465 million), despite structurally negative
effects on sales totalling € 13 million. A proportionately higher increase in
EBIT to € 27-28 million is forecast for 2014 (previous year: € 22.6 million).
Even though a lower financial result is anticipated, consolidated net income
is expected to be in the range of € 17 million. The management board expects
free cash flow to be on the order of € 17-22 million for 2014.

CEO Alexander Margaritoff stated: "In the Hawesko Group we are pleased with
the good first quarter of 2014. It has fully met our expectations and, on
this basis, we can reaffirm our forecast for the full fiscal year 2014."

The annual report presented for 2013 confirms the previously announced figures
for the reporting period: Consolidated sales rose by 4.2% to € 465 million.
Sales in Germany rose by 2.4% compared to the same period of the previous
year, while a decline of 1.4% was registered for the wine market overall in
2013. The result from operations (EBIT) amounted to € 22.6 million (previous
year: € 25.6 million); adjusted for the influence of the subsidiary Château
Classic, which will no longer be a part of the Hawesko Group, the EBIT would
be just above the level of the previous year. Consolidated net income after
deductions for taxes and non-controlling interests amounted to € 16.2 million
and € 1.80 per share in 2013 (previous year: € 22.5 million and € 2.51 per
share).

The return on capital employed (ROCE) for 2013 at 16% (previous year: 19%)
reached the minimum long-term return defined by the management board. The
free cash flow (cash flow from ongoing business activities minus investments
and interest paid out) amounted to € 22.7 million and € 2.52 per share. In
the previous year, due to an acquisition, it amounted to € -8.9 million;
adjusted for this extraordinary item it amounted to € 11.1 million and € 1.23
per share. An ordinary dividend of € 1.65 (unchanged from the previous year)
will be proposed to the annual shareholders' meeting on 16 June 2014; thus
2013 will be the eleventh consecutive year in which the amount of the
ordinary dividend was either increased or maintained.

Hawesko Holding AG is a leading supplier of premium wines and champagnes. In
fiscal year 2013, the Group achieved sales of € 465 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 SDAX
small-cap index of the Frankfurt Stock Exchange.

# # #

The application of IFRS 11 resulted in a difference in the sales (€ 446.4
million) and EBIT (€ 25.6 million) reported for the previous year compared to
the originally reported sales (€ 448.6 million) and originally reported EBIT
(€ 26.1 million).

The full annual report for 2013 as well as the quarterly financial report to
31 March 2014 can be found athttp://www.hawesko-holding.com, -->"Press" or
"Investors" -->"Downloads".

Publisher:
Hawesko Holding AG, 20247 Hamburg
Internet:
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

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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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