HAWESKO Holding AG

Earnings Release • Jul 30, 2001

News Details

Corporate | 30 July 2001 07:32

HAWESKO Holding AG english

Corporate-News announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Hawesko profits sparkle in second quarter – Sales and earnings remain above expectations Hamburg, 30 July 2001. The wine trading group Hawesko Holding AG (HAWG.F, 604270) published its six-month report for the current fiscal year today. The report also contains figures for the second quarter: in the period from 1 April to 30 June 2001 Group sales rose to DM 117 million (excluding sales tax), which corresponds to an increase of 25% over the same period in the previous year (DM 94 million). Group operating profit (EBIT) increased nearly fivefold over last year, from DM 1.4 million in the second quarter of the previous year to DM 6.4 million in the same quarter this year. The primary reason for the large rise in profits was an improvement in earnings in the mail order/e-commerce and wholesale business segments. After deducting financing charges and tax expenditures as well as profit due to minority interests, the Group’s net profit for the second quarter amounted to DM 2.5 million (previous year: DM 0.1 million) or DM 0.58 per share (previous year: DM 0.03). For the entire reporting period of six months – 1 January to 30 June 2001 – Hawesko achieved sales of DM 229 million (corresponding period in the previous year: DM 186 million) with an operating profit (EBIT) of DM 10.2 million (previous year: DM 4.3 million). The Group result for the first six months after deductions for taxes and profit to minority interests amounted to DM 3.5 million or DM 0.80 per share (previous year: DM 1.0 million or DM 0.23 per share). Despite the business development being above expectations, the management board re-iterated its full-year forecast of a 9% increase in sales to nearly DM 500 million and an even higher percentual increase in profits. Because the business conditions in the previous year continued to stabilize toward the end of the year, the growth rate in the second half of 2001 – with the all-important Christmas business – is expected to be lower than the rate achieved in the first half. Chief Executive Alexander Margaritoff: “The increase in profits in the first six months demonstrates the robustness of the Hawesko Group. It proves that we have, so far, been successful in focussing our efforts on profitability. We are fully on target. The fact that this success was achieved in all three business segments strengthens our confidence in the recovery of the wine market after last year’s ‘millennium hangover’ and in the effectiveness of our operational measures.” Hawesko Holding AG is Germany’s leading seller of premium wines and champagnes. Through its three distribution channels – mail order/e-commerce (particularly Hanseatisches Wein- und Sekt-Kontor), specialist wine retail (Jacques’ Wein- Depot) and wholesale (Wein Wolf and CWD Champagner & Wein Distributionsgesellschaft) – the Hawesko Group achieved sales of DM 454 million in fiscal year 2000. The Group employs 500 people. ### The full six-month report is available on the Internet at http://www.hawesko.com / Investor Relations / Financial Infos / Financial Reports. Published by: Hawesko Holding AG Postfach 20 15 52 20205 Hamburg Internet:http://www.hawesko.com (corporate site) http://www.winegate.de or http://www.hawesko.de (online shop) Press/Media: Investor Relations: Vera Maria Bau Thomas Hutchinson VMB Consulting Hawesko Holding AG Tel. +49 (0)2244 91 27 36 Tel. +49 (0)40 30 39 21 00 Fax +49 (0)2244 91 27 38 Fax +49 (0)40 30 39 21 05 E-Mail: vmb@nsag.de E-Mail: ir@hawesko.com end of message, (c) DGAP 30.07.2001