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Hawesko at the 2010 shareholders' meeting: Double-digit percentage growth continues
(June 14, 2010) * { font-family: Arial, Verdana, Helvetica; font-size: 13px;} td { padding: 3px; } } Hamburg, 14. Juni 2010. The wine-trading group Hawesko Holding AG (HAW, HAWG.DE, DE0006042708) is able to report that sales and earnings continue to be significantly above the previous year after the first 10 weeks in the current second quarter (1 April-30 June 2010). At the company's annual general meeting of shareholders in Hamburg today, chief executive Alexander Margaritoff reported that business development so far in the second quarter is living up to the strong development of the first quarter (1 January-31 March 2010). The first quarter saw a sales increase of 11 % and an increase in operating profit (EBIT) of 25 %, as previously reported. In particular the wholesale segment is benefiting greatly from the recovery of the premium wine market.
The Hawesko management board is currently staying with the targets it set for fiscal 2010: a moderate sales increase (Group sales 2009: € 339 million), operating profit (EBIT) of a similar magnitude to the previous year (ie, € 22-23 million) and free cash flow of approximately € 15 million. Margaritoff reaffirmed: "After a good start we are extremely confident of achieving strong results in the current year."
The proposed resolutions at the Hawesko shareholder meeting were greeted by overwhelming approval on the part of the attending shareholders; among others the proposal to raise the dividend for fiscal 2009 to € 1.35 per share (previous year: € 1.20). The dividend is payable from 15 June 2010 and will be paid out of a tax-free equity reserve without deduction of tax on capital yields and solidarity surcharge.
Hawesko Holding AG is a leading seller of premium wines and champagnes in Germany. In fiscal year 2009 the Group achieved sales of € 339 million 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), and employed 657 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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