Hamburg, 30 July 2003. The wine trading group Hawesko Holding AG (HAW, HAWG.DE, DE0006042708) published its six-month interim report for the current fiscal year 2003 as well as figures for the second quarter today in Hamburg. In the period between 1 April and 30 June 2003, Group sales rose by 6% to just under Euro 61 million (excluding sales tax). Against the background of the difficult economic environment in the German retail sector, the Group was thus able to increase its market share. The result from operations (EBIT) at Euro 1.6 million remained below that of the same quarter in the previous year (Euro 2.2 million), while the Group result for the period (Euro 0.6 million) was maintained at the previous year's level thanks to positive effects in the financial result.

In the first half of the year from 1 January to 30 June 2003, sales rose by just under 10% to Euro 125 million, while the operating result amounted to Euro 3.3 million (previous year: Euro 3.7 million). The Group result after taxes and minority interests rose in the first six months to Euro 1.2 million (Euro 1.1 million). The free cash flow (cash flow from current operations minus outpayments for interest and investments) improved by more than Euro 5 million.

CEO Alexander Margaritoff confirmed the overall forecast for the current fiscal year (increase in sales by 5% to Euro 280 million, proportionally greater increase in the operating result) and pointed out the decisive importance of the fourth quarter, in which the Group generally makes one third of its annual sales and earns over half of its operating profit. The success of the intensified efforts in new customer acquisition is a positive sign for the final quarter: expectations were surpassed both in mail order/e-commerce and at Jacques' Wein-Depot. In the event of an economic upswing - several indicators provide hope for a recovery in the next several months - an important prerequisite for the increase in profitability will already exist. "Thus we are optimistic about the second half of the year", sums up Margaritoff.

Hawesko Holding AG is a leading seller of premium wines and champagnes. Through its three distribution channels  - mail order/e-commerce (particularly Hanseatisches Wein- und Sekt-Kontor), specialist wine-shop retail (Jacques' Wein-Depot) and wholesale (Wein Wolf and CWD Champagner- und Wein- Distributionsgesellschaft) - the Group achieved sales of Euro 267 million in fiscal year 2002. The Group employs 550 staff members.

 

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The full six-month interim report for 2003 is available at

http://www.hawesko.com / Investor Relations / Financial infos / Financial reports.

Publisher: 
Hawesko Holding AG
Postfach 20 15 52    
20205 Hamburg

 

Internet: 
http://www.hawesko.com
(company information)
http://www.hawesko.de   
(online shop)
http://www.jacques-wein-depot.de
(locations of and information about Jacques' Wein-Depot)

 

Press/Media:     
Vera Maria Bau,VMB Consulting   
Tel. (02244) 91 27 36    
Fax  (02244) 91 27 38    
e-mail: vmb@nsag.de    

 

Investor Relations:
Thomas Hutchinson, Hawesko Holding AG
Tel. (040) 30 39 21 00
Fax  (040) 30 39 21 05
e-mail: ir@hawesko.com