(July 26, 2000) – Jacques’ Wein-Depot posts double-digit growth rates in sales and revenues
– Start-up Costs in Premium Segment, in Austria and in E-commerce
Hamburg, 26 July 2000 – The wine retail group Hawesko Holding AG (HAWG.F, 604270) continued to expand its business in the second quarter. Upon publication of its six-month report (at 30 June), the Group announced that its sales in the second quarter (1 April to 30 June) increased by 43% overall. Adjusted for the newly acquired Wein Wolf Group, growth amounts to 13%. The operating result (EBIT) of the group amounted to DM 1.3 million in the second quarter, 72% below the figure for the same period in the previous year. The second-quarter result was significantly influenced by the 17% increase in both sales and revenues in the specialist retail division (Jacques’ Wein-Depot) on the one hand, and start-up costs in the premium wine mail order segment (Carl Tesdorpf – Weinhandel zu Lübeck) as well as for the entry in the Austrian market and the development of online wine sales on the other. Net profit for the second quarter 2000 was slightly positive (previous year: DM 1.7 million).
In the first six months of fiscal year 2000, Group sales rose by 31% to DM 185.8 million; adjusted for the acquisition of the Wein Wolf Group, by 3%. The Group operating result (EBIT) in the same period amounted to DM 4.0 million, 67% below the figure for the previous year. In addition to the above-mentioned investment expenditures for the mail order segment, the "hangover" prevailing in the first quarter – after the high sales at the millennium – made itself felt.
Hawesko CEO Alexander Margaritoff: "As we explained at the annual general meeting in June, Hawesko is in the middle of a year of developing the business and investing in the future. This will provide sustained strength for the Group - and boost the development of results already next year."