The Hawesko wine trading group is upbeat in its business report on the first half of the 2010 business year. A revival in the wholesale division and in ultra-premium wines give rise to improved expectations for the current year.
Value sales for the first half were 164 million. €, up 14 % on the previous year, with EBIT at € 9.2 mill. showing growth of 44 %, profits after accounting for minority shares were € 8.0 mill. (+103 %). For the second quarter from 1. April to 30. June, value sales grew by 18% compared to the same quarter last year, from € 70.8 to € 83.3 mill. before value added tax. The main driver of this growth was the wholesale division, with value sales up 46 % compared to the same quarter last year; the division benefited from revival customer interest in ultra-premium and Bordeaux wines. Mail-order sales grew by 5 %, and the retail division (Jacques' Wein-Depot) was static. The operative group result (EBIT) for the second quarter 2010 amounted to € 5.3 mill., compared to € 3.3 mill. last year.

Sales of a shareholding in another company trebled group profits for the quarter (after tax and minority shares) - to€ 5.7 mill. resp. € 0.65 per share (same quarter last year: € 2.1 mill. resp.€ 0.23 per share). The Hawesko group has succeeded in increasing sales and profits for the first half of 2010 (1. January to 30. June) 2010: sales are up by 14 % to € 164.3 mill. (last year: € 143.8 mill.) and the operative profit (EBIT) is up by 44 % to € 9.2 mill. (last year: € 6.4 mill.). Non-recurring profits pushed group profits after tax and minority shares to € 8.0 mill. resp. € 0.91 per share, double the previous year's result of € 4.0 mill. resp.€ 0.45 per share.

The Hawesko board has adjusted its forecast for 2010, based on the improved general economic conditions: while expectations to date had been for very modest growth, expectations now are for an increase in the "high single-digit region" compared to last year (339 Million €). Chairman of the board Alexander Margaritoff: "The Hawesko has emerged from the economic crisis stronger than before. We have made clear gains in the first half of this year, and we go into the second half, with its important Christmas trade, with greater confidence. As the overall economic conditions have improved more rapidly and to a greater extent than we had expected, we are accordingly adjusting our expectations for the remainder of the current financial year upward."
The Hawesko Holding AG group is one of the leading suppliers of high-quality wine and champagne. In its 2009 financial year, the three distribution channels retail (Jacques' Wein-Depot), wholesale (Wein Wolf and CWD Champagner- und Wein-Distributionsgesellschaft) and mail order (particularly Hanseatisches Wein- und Sekt-Kontor) - achieved sales of € 339 mill., and employed a staff of 657. The Hawesko Holding AG shares are traded at the Hanseatischen Wertpapierbörse in Hamburg and are listed in the Prime Standard at the Frankfurt stock exchange.
(MW/press release)