HAWESKO Holding AG

Earnings Release • Apr 26, 2002

News Details

Corporate | 26 April 2002 11:59

HAWESKO Holding AG english

Hawesko presents an outstanding set of accounts for 2001 Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Hawesko presents an outstanding set of accounts for 2001 – “A cash-generating company” – Optimism after a slow start in 2002 Hamburg, 26 April 2002. The wine trading group Hawesko Holding AG (HAWG.F, DE0006042708) published its financial statements for 2001 and the three-month interim report for the current fiscal year 2002 today in Hamburg. The Group concluded fiscal year 2001 with a consolidated result (after taxes and minority interests) of Euro 6.9 million (previous year: Euro 1.1 million). This corresponds to a profit per share of Euro 1.61 (previous year: Euro 0.24). The mail order/e-commerce segment posted an above-average increase in the operating result (EBIT) relative to sales in 2001. In the retail wine-shop segment, Jacques’ Wein-Depot was again able to expand its outlet network while maintaining a high level of profitability. The wholesale segment continued its positive development. Group sales rose by 14% to Euro 264 million in 2001. Cash flow from current operations rose from Euro 8.8 million in the previous year to Euro 22.6 million. According to CFO Sven Ohlzen, “In fiscal year 2001, the Hawesko Group clearly demonstrated that it not only records profits, but makes money as well: Hawesko is a cash-generating company.” In the first three months of the current fiscal year (January to March), Group sales declined by 1% to approximately Euro 56 million and the EBIT by 24% to Euro 1.5 million. This development took place against the background of the slowdown in economic activity and a consumer climate of palpable uncertainty due to the introduction of the euro. Due to a reduction in borrowings, financial expenditures dropped from Euro 0.9 million in the first quarter of 2001 to Euro 0.5 million. Thus the Group result (after deductions for taxes and minority interests), remained at the level of the previous year, which amounted to Euro 0.5 million. Earnings per share at Euro 0.13 were slightly above the figure for the previous year (Euro 0.12). In presenting its outlook for the current fiscal year 2002, the management board reiterated its goal of increasing sales and the operating result by 7%. Growth is thereby expected primarily in the second half of the year. “January and February were the most difficult months for us,” said CEO Alexander Margaritoff. “In March sales and profits were already significantly higher than those of the previous year – a trend which has continued throughout April – so that we are optimistic about the coming quarters. ” Margaritoff is likewise optimistic about the future: “I know very few companies that have the potential of the Hawesko Group. For a dynamic company with strong revenues in a growth market that is very fragmented worldwide, it is surely not exaggerated to speak of doubling or tripling sales within the next ten years.” Hawesko Holding AG is a leading seller of premium wines and champagnes in Germany. 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 three-month interim report for 2002 as well as the Annual Report and Accounts for 2001 are available on the Internet at http://www.hawesko.com. Published by: Hawesko Holding AG P.O. Box 20 15 52 20205 Hamburg Germany Internet: http://www.hawesko.com (corporate site) http://www.hawesko.de (online shop) Press/Media: Vera Maria Bau, VMB Consulting Tel. +49 (0)2244 91 27 36 Fax +49 (0)2244 91 27 38 e-mail: vmb@nsag.de Investor Relations: Thomas Hutchinson, Hawesko Holding AG Tel. +49 (0)40 30 39 21 00 Fax +49 (0)40 30 39 21 05 e-mail: ir@hawesko.com end of message, (c)DGAP 26.04.2002