Hamburg, 27 October 2004. The wine trading group Hawesko Holding AG (HAW GR, HAWG.DE, DE0006042708) published its report on the first nine months of 2004 as well as its results for the third quarter today. In the period between July and September 2004, Group sales (excluding sales tax) rose by 2% to Euro 60.1 million (same period in the previous year: Euro 59.1 million). The operating result (EBIT) for the quarter rose by 21% to Euro 1.2 million (same quarter in the previous year: Euro 1.0 million). The net consolidated result (after taxes and minority interests) rose by 60% to Euro 0.15 million (previous year: Euro 0.09 million). In the third quarter - which is usually the weakest quarter in the fiscal year of the Group - the sustained climate of consumer restraint as well as the unusually cold summer precluded stronger growth of the company. Despite this, the Hawesko Group was again able to increase its market share in the premium wine segment. According to a market study of the Gesellschaft für Konsumforschung (GfK), the wine market in Germany overall made no progress in the third quarter with an increase of only +0.1%. Sales of wines via the "specialist wine retail" sales channel in Germany experienced a 2% decline, according to GfK. Hawesko's development was significantly higher than these figures.

Group sales for the first nine months of 2004 amounted to Euro 183.6 million (previous year: Euro 183.7 million) and the operating result (EBIT) was Euro 3.8 million (previous year: Euro 4.3 million). The EBIT decline, which had been 20% after six months, has thus been reduced to only 10%. Net consolidated earnings (after taxes and minority interests) amounted to Euro 1.0 million, which corresponds to earnings per share of Euro 0.22 (previous year: Euro 1.3 million and Euro 0.29 per share). In the balance sheet, bank borrowings were reduced by Euro 9 million compared to the previous year at 30 September.

The Hawesko management board expects successful holiday sales and reaffirms its full-year forecast that both sales (previous year: Euro 279 million) and the operating profit (EBIT; previous year Euro 15.1 million) will increase. The board anticipates that the current business development trend will continue in the fourth quarter. In the last quarter, the Group generally earns two thirds or more of its full-year profits.

Hawesko CEO Alexander Margaritoff: "Our results are within the planned range and we are now turning into the home stretch of the year with a powerful thrust. We are well-equipped to take advantage of the opportunities arising in the fourth quarter through the new Philippe de Rothschild wines, through the redesign and increased staffing of the gift business in the mail order segment and through the continuing special promotions of our anniversary celebrations: 40 years at Hanseatisches Wein- und Sekt-Kontor, 30 years at Jacques' Wein-Depot."

 

 

 

 

Hawesko Holding AG is the leading supplier of premium wines and champagnes in Germany. 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.

 

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The complete nine-month report for 2004 is available at
http://www.hawesko.com / Investor Relations / Financial Info / Financial Reports
 

 

Publisher: 
Hawesko Holding AG
Postfach 20 15 52    
20205 Hamburg

 

Internet:
http://www.hawesko.com 
(Company profile)
http://www.hawesko.de    
(Online shop)
http://www.jacques.de      
(Information on Jacques' Wein-Depot)

 

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

 

 

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