HAWESKO Holding AG

Earnings Release • Jul 26, 2002

News Details

Ad-hoc | 26 July 2002 12:14

HAWESKO Holding AG english

Hawesko: Slowdown in the second quarter Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Hawesko: Slowdown in the second quarter -Business progress restrained in June -Forecast for the year revised downwards Hamburg, 26 July 2002. The wine trading group Hawesko Holding AG (HAW.GR, HAWG.F, DE0006042708) published its six-month report (1 January – 30 June 2002) as well as figures for the second quarter today. In the period between 1 April and 30 June 2002, the Hawesko Group posted sales of Euro 57.5 million (excluding V.A.T.), down 4% on the comparable period of the previous year (Euro 60.0 million). The decline in sales is due primarily to the sluggish retail economy in Germany as well as consumer uncertainty. After a brief improvement in spring, sales were down again in June. The Group result from operations (EBIT) in the second quarter declined to Euro 2.2 million (Euro 3.3 million). In the six-month period under review (1 January to 30 June 2002), the Group achieved sales of Euro 113.7 million (2001: Euro 116.9 million) with an operating result (EBIT) of Euro 3.7 million (Euro 5.2 million). The Group result after taxes and minority interests for the first six months amounted to Euro 1.1 million (Euro 1.8 million) or Euro 0.27 (Euro 0.40) per share. Based on an economic environment which has become difficult again at mid-year and the continuing reticence of consumers in Germany, the management board believes it necessary to downscale its forecast made at the beginning of the year for Hawesko – which looked for a sales increase by about 7% to between Euro 280 million and Euro 285 million and a proportionate increase of operating result by about 7% – for the 2002 financial year. Assuming that consumers in Germany remain cautious – but otherwise do not become even more reticent – the management board expects sales for 2002 as a whole to rise by between 1% and 3% to around Euro 270 million. EBIT is likely to fall short of the previous year’s level (Euro 17 million), though the decrease should not be more than 15%. The full six-month report for 2002 is available on the Internet at http://www.hawesko.com. end of ad-hoc-announcement (c)DGAP 26.07.2002 ——————————————————————————– WKN: 604270; ISIN: DE0006042708; Index: SDax Listed: Amtlicher Markt in Frankfurt (SMAX), Hamburg; Freiverkehr in Berlin, Düsseldorf, Stuttgart 261214 Jul 02