(February 14, 2001) – Sales slightly above revised forecast for 2000
– Efficiency program to increase profits in fiscal year 2001
– Good start with a rise in January sales
Hamburg, 14 February 2001.
The German wine trading group Hawesko Holding AG (HAWG.F, 604270) announced preliminary sales and profit figures for fiscal year 2000 today. Group sales rose to DM 454 million (excluding sales tax), 16% above the previous year's figure according to IAS accounting methods. Not including the 1999 acquisition of the Wein Wolf group, sales rose by 6%. Sales were thus slightly above the forecast which was revised in November 2000 to DM 450 million. The result from operations (EBIT) amounts to DM 17 million according to preliminary figures of the Hawesko Group (1999 in accordance with IAS: DM 35.4 million). The final figures as well as the audited year-end accounts will be presented at the annual press conference on 8 May 2001.
In the fourth quarter of 2000, Group sales at DM 177 million nearly equaled sales in the comparable period of the prior year (DM 179 million), whereby the effect of the strong increase in consumption during the run-up to the millennium in the last quarter of 1999 must be taken into account. The mail order/e-commerce division increased sales compared to the fourth quarter of fiscal year 1999 by over DM 1 million to DM 87 million, due primarily to the initial consolidation of the Bordelaisian wine trader Le Monde des Grands Bordeaux. Excluding the initial consolidation of these sales, the sales in this division declined by about 3%. E-commerce sales rose to DM 4.3 million, compared to DM 1.2 million in the fourth quarter of 1999. In the retail division (Jacques' Wein-Depot), sales rose by 9% to DM 49 million (fourth quarter 1999: DM 45 million). At 31 December 2000 there were 188 Depots (31 December 1999: 163). In addition, six (nine) further locations were under lease by the end of the year. On a like-for-like basis, sales rose by nearly 5% in the fourth quarter of 2000. In the wholesale division, sales declined by 14% in the fourth quarter of 2000 - compared to the extremely strong quarter in the prior year, which was influenced by the millennium consumption.
For fiscal year 2000 overall, the mail order/e-commerce division posted sales of DM 193 million (-1% compared to 1999). Of this, nearly DM 11 million was achieved in e-commerce - almost six times higher than the previous year. Specialist retail sales rose to DM 144 million (+14%) in fiscal year 2000. Wholesale sales rose by more than 67% compared to 1999 to DM 117 million (+16% excluding the Wein Wolf group).
The current fiscal year 2001 is one in which the Hawesko management board is focussing on improving profitability. A program to increase efficiency, particularly in the mail order/e-commerce division, is being instituted to optimize sales and cost structures. The classic wine mail order segment "Hanseatisches Wein- und Sekt-Kontor" and the "Winegate" Internet operations will be integrated in order to achieve synergies for the expansion and exploitation of profitable customer relationships. Overall, the management board anticipates an increase in Group sales to DM 495 million and a proportionally higher rise in profits in 2001.
CEO Alexander Margaritoff: "In the current fiscal year, we are focussing on the improvement of Group profits as our highest priority, after the investments of last year. Sales in January of this year were considerably above our expectations, especially in the mail order/e-commerce division. We are thus very confident about the course of developments to come in 2001."
Hawesko Holding AG is Germany's leading seller of premium wines and champagne. With three distribution channels - mail-order/e-commerce (main brands: Hanseatisches Wein- und Sekt-Kontor and Winegate), specialty wine stores (Jacques' Wein-Depot) and wholesale (Wein Wolf and CWD Champagner Wein Distribution) - the Group achieved sales of DM 454 million in 2000 with 500 employees.
Published by:
Hawesko Holding AG
Postfach 20 15 52
20205 Hamburg
Internet:
http://www.hawesko.com (corporate information)
http://www.winegate.de (online wine shop - German language)
http://www.winegate.co.uk (online wine shop - English language)