HAWESKO Holding AG

Earnings Release • Oct 30, 2002

News Details

Corporate | 30 October 2002 08:00

HAWESKO Holding AG english

Hawesko optimistic after a good third quarter Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– – Sales +8%, operating profit +59% – Sights still set firmly on full-year target Hamburg, 30 October 2002. The wine trading group Hawesko Holding AG (HAW.GR, HAWG.F, DE0006042708) published its nine-month report for the period from January to September of this year as well as its third-quarter figures today. In the period from July to September 2002, group sales rose by 8% to Euro 57.8 million (excluding sales tax) (previous year: Euro 53.8 million). Group operating result (EBIT) in the third quarter increased by 59% to Euro 1.5 million (Euro 1.0 million). Thus, despite the sustained sluggishness of the economy, the group continued to expand and reinforce its market position in the premium wine sector. For the first nine months of 2002, sales amounted to Euro 171.5 million, 1% up on the comparable period of the previous year (Euro 170.7 million); the figure for the first six months of 2002 was 3% down from the same period of the previous year. The operating result (EBIT) amounted to Euro 5.2 million (16% below the prior year’s figure of Euro 6.2 million), so that the 30% decline compared to the previous year which had been posted after the first six months has been nearly halved. The Group result for the period from January to September 2002 after taxes and minority interests amounted to Euro 1.2 million (Euro 1.6 million), or Euro 0.28 (Euro 0.37) per share. The Hawesko management board’s forecast to the end of the year reflects the fact that, based on the experience of previous years, the Group achieves considerably more than one-third of its annual sales and a good two-thirds of its annual EBIT in the fourth quarter. Taking the unfavorable economic situation into account, the management board had already revised its sales and earnings forecast for 2002 in the six-month report. It now reaffirms this revised forecast: a slight increase in sales – between 1% and 3% to roughly Euro 270 million – is expected for the year overall, while the operating result should not decline by more than 15% compared to the previous year. Hawesko CEO Alexander Margaritoff: “With regard to the current fiscal year 2002, our expectations have always been based on a better second half. After our successful third quarter we are optimistic about the final quarter of the year. The course of Christmas business is, as always, of decisive importance.” Hawesko Holding AG is a leading seller of premium wines and champagnes. Through its three distribution channels – mail order/e-commerce (particularly Hanseatisches Wein- und Sekt-Kontor), stationary specialist retail (Jacques’ Wein-Depot) and wholesale (Wein Wolf and CWD Champagner- und Wein- Distributionsgesellschaft) — the Group achieved sales of Euro 264 million in fiscal year 2001. The Group employs 500 people. # # # The full nine-month report for 2002 is available at http://www.hawesko.com / Investor Relations / Financial infos / Financial reports. Publisher: Hawesko Holding AG Postfach 20 15 52 end of message, (c)DGAP 30.10.2002 ——————————————————————————– WKN: 604270; ISIN: DE0006042708; Index: SDax Listed: Amtlicher Markt in Frankfurt (SMAX), Hamburg; Freiverkehr in Berlin, Düsseldorf, Stuttgart 300800 Okt 02