Hamburg, 27 July 2004. The wine-trading group Hawesko Holding AG (HAW GR, HAWG.DE, DE0006042708) published its six-month report for the first half of fiscal year 2004 as well as the figures for the second quarter today. In 2004, in the traditionally less significant period from 1 April to 30 June, Group sales amounted to Euro 59 million (excluding sales tax), slightly below the figure for the previous year (Euro 61 million). Operating profit (EBIT) at Euro 0.8 million remained below the same quarter of the previous year (Euro 1.6 million). Consolidated earnings for the period under review (after taxes and minority interests) amounted to Euro 0.4 million (previous year: Euro 0.6 million).

In the six-month period from 1 January to 30 June 2004, the Hawesko Group maintained sales at Euro 124 million, roughly at the level of the first six months of the previous year (Euro 125 million). The overall wine market in Germany declined by 2.6% during the same period. Operating profit amounted to Euro 2.6 million (previous year: Euro 3.3 million). Consolidated earnings after deductions for taxes and minority interests in the first six months amounted to Euro 0.8 million (Euro 1.2 million). The cash flow from current operations amounted to Euro 0.9 million, remaining in the positive range as in the same period of the previous year. Bank liabilities were significantly reduced compared to the end of the previous fiscal year and compared to the mid-year point of 2003, to Euro 31 million, i.e. by 9% and 31% respectively. Simultaneously, the equity ratio (equity divided by balance-sheet total) reached a record high at 45%.

Chief executive officer Alexander Margaritoff reaffirmed the forecast for the current fiscal year, despite the continuing difficulties in the market, for increases in both sales (previous year: Euro 279 million) and EBIT (Euro 15 million). "The current 6-month figures are well within our planned range for the year as a whole", said Margaritoff, "and with regard to important operating parameters - gross profit margin, new customer acquisition, order quantities in the mail order segment and buying frequency at Jacques' Wein-Depot as well as the average price per bottle - we are continuing to post solid and, for some areas, even increasing figures. If the economy recovers in the course of the year, we are positioned to reap especially strong profits."

Hawesko Holding AG is the leading supplier of premium wines and champagnes.   Its sales channels include mail order/e-commerce (particularly Hanseatisches Wein- und Sekt-Kontor), specialist wine retail (Jacques' Wein-Depot) and wholesale (Wein Wolf and CWD Champagner & Wein Distributionsgesellschaft). The Group employed an average of 568 staff members during the past fiscal year. The shares of Hawesko Holding AG are listed on the Hanseatic Stock Exchange in Hamburg as well as in the prime standard segment of the Frankfurt Stock Exchange.

#            #            #

 

The full six-month report for 2004 is available at http://www.hawesko.com, "Investor Relations" / "Financial Data" / "Financial Reports".

 

Published by:
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 
(Information about Jacques' Wein-Depot)

 

Press/Media:     
Vera Maria Bau,

VMB Consulting   
Tel. + 49 (0)228 4496 220    
Fax  +49  (0)228 4496 298     
e-mail:  vmb.pr@t-online.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