(February 13, 2002) - Sales rise by 14% to Euro 264 million
- Further increase in sales and profits expected for 2002
Hamburg, 13 February 2002. The wine trading group Hawesko Holding AG (HAWG.F, DE0006042708) nearly doubled its operating result (EBIT) in fiscal year 2001. According to the preliminary sales and profit figures released today, it increased to Euro 17 million (2000: Euro 8.7 million). Consolidated group sales came to Euro 264 million (excluding sales tax), thereby exceeding the previous year's figure by 14%. The Hawesko Group posted an operating (EBIT) margin of 6.4% for 2001 (2000: 3.7%), which comes already very close to the medium-term goal - 7% - of the management board. The final figures together with the audited annual financial statements will be presented at the balance sheet press conference on 29 April 2002. The success of the past year is reflected in the earnings per share which will range between Euro 1.60 and Euro 1.70, a development which, in the view of the management board, justifies a dividend payment of at least Euro 1.00 per share.
For fiscal year 2001 as a whole, the mail order/e-commerce segment posted sales of Euro 107 million (+8%). Sales in the specialist retail segment rose to Euro 84 million (+15%, like-for-like +9%). Wholesale sales increased by 22% to Euro 73 million.
In the fourth quarter of 2001, group sales at Euro 94 million surpassed the figure for the same period of the previous year (Euro 90 million) by 4%. The group operating profit (EBIT) rose to nearly Euro 11 million (Euro 9 million), an increase of more than 18%. The mail order/e-commerce segment posted a sales decline of Euro 3 million, which was expected due to the influence of the events of 11 September 2001 on the gift business. The specialist retail segment (Jacques' Wein-Depot) posted growth of 14% to Euro 29 million (Euro 25 million). At 31 December 2001, there were 217 outlets (193), and seven (six) additional locations had been leased by the end of the year. On a like-for-like basis, sales grew by 9% in the fourth quarter of 2001. The wholesale segment increased its sales during this period by 14% to Euro 24 million.
For the Hawesko management board, the focus of the current fiscal year 2002 will remain on building up the core business. The top priorities in this regard include ongoing process optimization in the mail order/e-commerce segment, keeping up profitable growth at Jacques' Wein-Depot and continuing the improvement of the premium product range in the wholesale division. For 2002 as a whole, the management board anticipates an increase in Group sales of 7% - to between Euro 280 million and Euro 285 million - with a proportional increase in profits to approximately Euro 18 million, whereby the management board expects sales growth primarily in the second half of the year.
CEO Alexander Margaritoff: "We said one year ago that we would put the highest priority on improving profitability. This we have achieved in an impressive fashion: the near-doubling of the operating profit has exceeded even our own expectations. In the current fiscal year we want to increase profit once again - and thus the value of the Hawesko Group as well as its share price. Our unique potential as an integrated wine group provides us with numerous opportunities which we will use further to enhance the appeal of our product range and to continue developing the growth market of premium wine at home and abroad."
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 Euro 264 million in fiscal year 2001. The Group employs 500 people.
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Published by: Hawesko Holding AG
P.O. Box 20 15 52
20205 Hamburg
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