Hamburg, 31 July 2008. The wine trading group Hawesko Holding AG (HAW GR, HAWG.DE, DE0006042708) published its report for the first six months of 2008 as well as its results for the second quarter today. In the quarter from 1 April to 30 June 2008, Group sales increased by 5% compared to the same quarter of the previous year (73.1 million euros) to 76.4 million euros net of sales tax. This was primarily the result of business with private customers in the specialist retail (Jacques' Wein-Depot) and mail order (Hanseatisches Wein- und Sekt-Kontor) segments: sales at Jacques' Wein-Depot increased in the second quarter by 8% and in the mail order segment by 11% compared to the previous year. The consolidated operating result (EBIT), at 4.5 million euros the best second-quarter result in the history of the company, was decisively influenced by an increase in the profitability of the aforementioned segments. Consolidated earnings (after deductions for taxes and minority interests) likewise rose sharply to 2.8 million euros and 0.33 euros per share (same quarter of the previous year: 0.6 million euros and 0.06 euros per share).

 

After the good first quarter (reported previously), the Hawesko Group closed out the first six months of fiscal year 2008 from 1 January to 30 June with revenues of 157.4 million euros (same period in the previous year: 146.3 million euros). This is an increase of 8%. In contrast, the German wine market overall declined by 2.5% in the same period, according to data published by GfK. Thus the Hawesko Group once again succeeded in outperforming the market and gaining further market share. The operating result of the Hawesko Group for the first six months of 2008 amounted to 9.2 million euros (first six months of the previous year: 3.4 million euros). The Group posted a further record with its consolidated earnings after deductions for taxes and minority interests of 5.6 million euros and 0.64 euros per share (1.5 million euros and 0.17 euros per share).

 

The Hawesko management board noted that, in the first six months, the Group has taken a large step toward achieving its ambitious expectations for the full fiscal year 2008. The prospect of a significant increase in profitability is also taking shape. The management board therefore reaffirms its forecast of an increase in sales in the mid-single-digit percentage range and an increase in the operating result (EBIT) significantly in the double-digit percentage range. This is based on the assumption of moderate to normal pre-Christmas sales at the end of the year. The net result (after deductions for taxes and minority interests) is expected to double compared to 2007 (6.7 million euros and 0.76 euros per share), according to Group calculations.

 

Chief executive officer Alexander Margaritoff stated, "Last year we initiated measures that enabled us to streamline our operations, work more efficiently and reap the benefits as well. As the results of the first six months show, we are on the right course."

 

Hawesko Holding AG is a leading supplier of premium wines and champagnes. In fiscal year 2007 the Group achieved sales of 334 million euros and an operating result (EBIT) of 18 million euros through its 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). During the aforementioned period the Group employed 609 people. 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 six-month report for 2008 is available at 
http://www.hawesko.com Investor Relations--> Financial Info --> Financial Reports.

 

Published by:
Hawesko Holding AG
Postfach 20 15 52
20205 Hamburg, Germany

 

Internet:
http://www.hawesko.com    
(Company profile)

http://www.hawesko.de       
(Online shop)
http://www.jacques.de         
(Information about Jacques' Wein-Depot)

 

Press/Media:     
Vera Maria Bau, VMB Consulting   
Phone:  +49 (0)228 4496 240    
Fax      +49 (0)228 4496 298     
E-mail: vmb@veramariabau-pr.de   

 

Investor Relations:
Thomas Hutchinson, Hawesko Holding AG
Phone: +49 (0)40 30 39 21 00
Fax:     +49 (0)40 30 39 21 05
E-mail: ir@hawesko.com