Hawesko

Hamburg, 24 February 2005. The wine trading group Hawesko Holding AG (HAW GR, HAWG.DE, DE0006042708) expects to pay a dividend of Euro 1.25 per share for fiscal year 2004. The financial audit committee of the Hawesko supervisory board, together with the management board, drew up a corresponding dividend proposal yesterday evening. The annual general meeting will vote on the proposal on 20 June 2005. A total of more than Euro 5.5 million is to be paid out to shareholders. For fiscal year 2003, a total payout of Euro 4.8 million (Euro 1.10 per share) was distributed.
The financial audit committee of the supervisory board also reviewed the consolidated accounts for fiscal year 2004, which will receive the auditor's certificate within the next couple of weeks. As already announced, Group sales in 2004 rose by nearly 3% to Euro 286 million, despite sluggish consumption. The Group's operating result (EBIT) will be higher than the preliminary figures previously reported, amounting to Euro 16.5 million (previous year: Euro 15.1 million.). It thus rose overproportionately to sales, namely by 9%. Consolidated earnings in 2004, after taxes and minority interests, will likewise increase and amount to Euro 6.3 million (previous year: Euro 6.1 million). This corresponds to earnings per share of Euro 1.44 (previous year: Euro 1.37). Free cash flow (cash flow from current business activities minus investments and interest paid out) will amount to between Euro 13 million and Euro 14 million (previous year: Euro 16.8 million) and, thanks to a further optimisation in working capital this year, will once again exceed the company's expectations communicated thus far.
According to estimates of the Hawesko CEO Alexander Margaritoff, in the current fiscal year 2005, the Group will continue its profitable growth, increasing sales as well as EBIT despite the ongoing consumer restraint. Should the economy improve, Hawesko's profitability would increase even more.
The management board will present details of the results of fiscal year 2004 as well as on the outlook for the current fiscal year 2005 at the annual press conference of Hawesko Holding AG on 27 April 2005.
Hawesko Holding AG is the leading supplier of premium wines and champagnes. In fiscal year 2004 the Group achieved sales of Euro 286 million through their three sales channels - specialist wine retail (Jacques' Wein-Depot), wholesale (Wein Wolf and CWD Champagner und Wein Distributionsgesellschaft) and mail order (in particular Hanseatisches Wein- und Sekt-Kontor). The Group employs 575 people. The shares of Hawesko Holding AG are listed on the Hanseatic Stock Exchange in Hamburg as well as in the SDAX and GEX segments of the Frankfurt Stock Exchange.