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DGAP-Adhoc: Hawesko Group: Change in profit development within the year vis-a-vis previous year, full-year forecast confirmed

DGAP-Ad-hoc: HAWESKO Holding AG / Key word(s): Half Year Results


Hawesko Group: Change in profit development within the year vis-a-vis previous year, full-year forecast confirmed


19-Jul-2019 / 16:05 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.



Hawesko Group: Change in profit development within the year vis-a-vis previous year, full-year forecast confirmed

Hamburg, 19 July 2019. The wine trading group Hawesko Holding AG (HAW GR, HAWG.DE, DE0006042708) announces an explanation of changes in its profit development within fiscal year 2019 due to special effects: On the basis of figures for the first quarter and preliminary indications for the second quarter, EBIT of approximately EUR 8 million is expected for the first half-year (1 January to 30 June) 2019 and, as planned, will be below the previous year's figure - by approximately EUR 2.5 million.

The business development of the subsidiary Wein & Co., acquired 1 October 2018, is proceeding as expected in line with the planned restructuring concept. Within this context Wein & Co. will realise a loss of approximately EUR 1 million in the six-month period to 30 June 2019 and, based on the normal course of a business year, will largely make this up in the fourth quarter. Due to the move of the group's B2B distribution facility from northern Germany to Worms in the period May-July, additional costs of approximately EUR 0.7 million in the half-year accounts will be realised. These should be compensated by savings in transport costs in the second half of the year due to shorter delivery routes. A severance payment relating to the dissolution of a contract with a member of the board of management will also be recognised in the half-year results; however, as the position will not be refilled, this anticipates personnel costs which would have been incurred in the second half of the year. Business operations are running in line with the expectations of the board of management. In the first half-year, group sales were increased by 7.6%.

The Hawesko Group management board confirms its previous forecast for the 2019 fiscal year: Including Wein & Co., consolidated from 1 October 2018, an increase in sales of approximately 7-9% and an EBIT margin in the range between 5.0-5.7% in 2019 (previous year: 5.3%) is expected.
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