(October 30, 2001) - Sales rise by 14%, positive operating result (EBIT)
- Forecast revised upwards
Hamburg, 30 October 2001. The wine trading group Hawesko Holding AG (HAWG.F, 604270) published its nine-month interim report for the current fiscal year 2001 today. The report also contains figures for the third-quarter: in the period from 1 July to 30 September 2001, Group sales amounted to DM 105 million (excluding sales tax), which corresponds to an increase of 14% over the same period in the previous year (DM 92 million). The Group's operating result (EBIT) underwent a dramatic upturn: from DM -4.9 million in the third quarter of the previous year to DM 1.9 million for the quarter just completed. The main reason for this significant increase was the improvement of the cost structures in the mail order/e-commerce division. The financial costs of the quarter were negatively influenced by the first application of International Accounting Standard 39, which requires the valuation of financial instruments at market prices, combined with the turbulence in the financial markets. After these and other non-operating items were deducted, the Group result after taxes and minority interests amounted to DM -0.4 million (previous year: DM -5.9 million) or DM -0.08 per share (previous year: DM -1.34).
In the entire nine-month reporting period - from 1 January to 30 September 2001 - the Group achieved sales of DM 334 million (previous year: DM 278 million) with an operating result (EBIT) of DM 12.1 million (previous year: DM -0.5 million). The Group result for the nine-month period after the deductions for taxes and minority interests amounted to DM 3.1 million or DM 0.72 per share (previous year: DM -4.9 million, DM -1.11 per share).
The Hawesko management board have increased their forecast for the year and now anticipate sales of more than DM 510 million for 2001 (fiscal year 2000: DM 454 million) and an operating profit of at least DM 26 million (fiscal year 2000: DM 17 million). According to the management board, the upcoming Christmas business will play a decisive role in determining the exact level of the figures for the year overall. The influence of the events of 11 September in particular makes predictions difficult. At the moment, both the possible positive and the possible negative influences are evenly balanced. The management board expects sales as well as results to increase further in the coming fiscal year 2002.
CEO Alexander Margaritoff: "The upward trend in sales continued in the third quarter, and we posted a positive operating result - something not to be taken for granted in this period, which is traditionally the weakest quarter of our fiscal year. We are well on our way to achieving our goal of improving the operating profit margin. This has encouraged us to revise our year-end forecast for 2001 and simultaneously provides a basis for being optimistic about fiscal year 2002."
Hawesko Holding AG is Germany's leading seller of premium wines and champagnes. Through its three distribution channels - mail order/e-commerce (particularly Hanseatisches Wein- und Sekt-Kontor), stationary specialist retail (Jacques' Wein-Depot) and wholesale (Wein Wolf and CWD Champagner- und Wein-Distributionsgesellschaft) -- the Group achieved sales of DM 454 million in fiscal year 2000. The Group employs a yearly average of 515 people.
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The full nine-month report is available on the Internet at
http://www.hawesko.com -> Investor Relations -> Financial Info -> Financial Reports.
Published by:
Hawesko Holding AG
P.O. Box 20 15 52
20205 Hamburg
GERMANY
Internet:
http://www.hawesko.com (corporate site)
http://www.hawesko.de (online shop)
Press/Media:
Vera Maria Bau, VMB Consulting
Tel. +49 (0)2244 91 27 36
Fax +49 (0)2244 91 27 38
e-mail: vmb@nsag.de
Investor Relations:
Thomas Hutchinson, Hawesko Holding AG
Tel. +49 (0)40 30 39 21 00
Fax +49 (0)40 30 39 21 05
e-mail: ir@hawesko.com