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2015-03-27

HAWESKO Holding AG: Hawesko plans to pay a dividend of € 1.30 per share

HAWESKO Holding AG / Hawesko plans to pay a dividend of € 1.30 per share.
Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is
solely responsible for the content of this announcement.
- Majority shareholder Detlev Meyer elected as chairman of the supervisory
board

- CEO Alexander Margaritoff to leave on 30 April 2015
- Search for successor being pushed ahead quickly

Hamburg, 27 March 2015. At its meeting yesterday, the supervisory board of
the wine trading group Hawesko Holding AG (HAW GR, HAWG.DE, DE0006042708)
elected Detlev Meyer as the chairman of the supervisory board. As a result of
the takeover offer of Tocos Beteiligung GmbH dated 21 November 2014, Meyer
had become the majority shareholder of Hawesko Holding AG. The previous
chairman of the supervisory board, Dr. Joh. Christian Jacobs, had
consequently offered to step down.
A further topic on the agenda was the departure of Alexander Margaritoff, the
company's chief executive officer and majority shareholder for many years.
Due to the prompt completion of the handover process, he will leave the
company already on 30 April 2015. In recognition of his many years of
outstanding work on behalf of the Hawesko Group and in accordance with his
contract, his remuneration will continue to be paid out until February 2019.
To fulfill this obligation, a provision in the amount of € 6 million will be
formed in the first quarter of 2015. The entire supervisory board wishes to
thank Mr. Margaritoff explicitly for his extraordinary commitment and his
outstanding achievements over the past 34 years. During this time he enjoyed
great respect among his staff, suppliers, customers and partners. As
previously announced, the search for a successor to Alexander Margaritoff has
begun and is being pushed forward quickly.
At the same meeting, the supervisory board reviewed, discussed and approved
the annual and consolidated financial statements for fiscal year 2014; the
annual financial statement was approved. The final consolidated balance
sheet reveals that Group sales in 2014 (1 January to 31 December) rose by
1.6% to € 472.8 million (previous year: € 465.2 million). The result from
operations (EBIT) amounted to € 20.1 million (previous year: € 22.6 million);
the decline is due primarily to non-recurring consulting costs in the amount
of € 4.8 million incurred in conjunction with the takeover process as well as
in connection with a project to expand the Group. Consolidated net income
after deductions for taxes and non-controlling interests amounted to € 14.8
million and € 1.65 per share in 2014 (previous year: € 16.2 million and €
1.80 per share). Adjusted for a revaluation in accordance with IAS 39,
consolidated net income amounted to € 12.5 million and € 1.39 per share; the
corresponding values in the previous year were € 12.7 million and € 1.41 per
share. The consolidated balance sheet total amounted to € 217.2 million,
compared to € 234.3 million on the the previous year's balance sheet date.
The free cash flow (cash flow from ongoing business activities minus
investments and interest paid out) amounted to € 13.1 million and € 1.46 per
share, compared to € 22.7 million and € 2.52 per share in the previous
year.
With this in mind, the supervisory board agreed with the proposal of the
management board to pay a dividend in the amount of € 1.30 per share for the
past fiscal year 2014. The annual general shareholders' meeting of the
company will vote on this proposal on 15 June 2015. The dividend in the
previous year amounted to € 1.65 per share. A total of € 11.7 million will be
paid out to the shareholders. This corresponds to a payout ratio of 79%
(previous year: € 14.8 million, payout ratio of 92%).
The management board will present details of the results of fiscal year 2014
as well as the business performance in the first three months of the current
fiscal year 2015 at the balance sheet press conference of Hawesko Holding AG
on 7 May 2015.
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 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.

# # #

The complete 2014 annual report and accounts will be presented at the annual
press conference on 7 May 2015.

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 information 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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