Hamburg, 31 October 2008. The wine trading group Hawesko Holding AG (HAW GR, HAWG.DE, DE0006042708) published its report on the first nine months of fiscal year 2008 as well as the figures for the third quarter today. In the reporting period from 1 July to 30 September 2008 the Group maintained sales at € 70.1 million before turnover tax at the level of the previous year (€ 70.7 million). During this period, sales in the specialist retail segment Jacques' Wein-Depot rose by 4% (on a like-for-like basis: by 2%). The wholesale segment achieved the same sales figures as in the comparable quarter in the previous year, while the mail order segment posted a decline in sales of 9%. The latter is due to the optimisation of the mailing-advertisement sequence during the summer. The consolidated operating result (EBIT) increased to more than € 2.8 million (previous year: a strong € 1.6 million) in the quarter under review. The improvement in the quarterly result was due to the good earnings situation in the specialist retail segment and a turnaround of the mail order EBIT to positive figures. Due to the acquisition of minority interests, there was a non-recurring expenditure in the financial result; the overall financial result amounted to € -1.9 million (previous year: € -0.7 million). Consolidated earnings (after deductions for taxes and minority interests) amounted to € 0.5 million (same quarter in the previous year: € -2.5 million, including a non-recurring tax expenditure).

 

In the first nine months (January to September) of 2008, sales of the Hawesko Group rose by 5% to € 227.5 million (same period in the previous year: € 217.1 million). According to expert estimates, the overall wine market grew only slightly during the same period. Consequently, the Hawesko Group once again outperformed the market and increased its market share. The operating result of Hawesko Holding AG amounted to € 12.0 million in the first nine months of 2008 (same period in the previous year: € 5.1 million). Consolidated earnings after deductions for taxes and minority interests amounted to € 6.1 million (same quarter in the previous year: € -1.0 million, including a non-recurring tax expenditure).

 

The Hawesko management board confirmed the operational targets for the full fiscal year 2008: an increase in sales in the medium single-digit range and a significant double-digit rise in EBIT (2007: sales € 334 million, EBIT € 18.3 million). This is based on the assumption of moderate to normal pre-Christmas sales at the end of the year.

 

Chief executive officer Alexander Margaritoff stated, "The Hawesko Group has achieved outstanding results for the first nine months as well as for the most recent quarter. Furthermore, we have registered more active customers at the end of September than ever before. Going into the all-important fourth quarter, our EBIT is nearly € 7 million higher than last year. We therefore remain confident that we will achieve our objective of a significant double-digit increase in the full-year EBIT. "

 

Hawesko Holding AG is a leading supplier of premium wines and champagnes. Its sales channels include specialist wine retail (Jacques' Wein-Depot), wholesale (Wein Wolf und CWD Champagner & Wein Distributionsgesellschaft) and mail order (particularly Hanseatisches Wein- und Sekt-Kontor). The Group employed an average of 609 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 2008 is available at http://www.hawesko.com Investor Relations --> English --> 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.com  (Online shop)

http://www.jacques.de  (Locations of and 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