Hawesko Holding AG Announces Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013; Provides Earnings Guidance for the Full Year 2013
November 05, 2013
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Hawesko Holding AG announced consolidated earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported sales rose in comparison to the same quarter in the previous year 92.3 million by 8.3% to 100.0 million before VAT, so that the group accelerated its growth over the course of the year as expected. The operating result (EBIT) in the third quarter of 2013 amounted to 2.0 million, up by 4.0% compared to 1.9 million a year ago. Net income after deductions for taxes and non-controlling interests for the quarter under review and earnings per share thus amounted to nil compared to 1.2 million and 0.13 per share a year ago.
For the nine months, the company reported sales rose by 4.0% to 317.0 million compared to 304.7 million a year ago. The operating result (EBIT) at 12.3 million was 1.6 million or 11.5% below the figure for the previous year of 13.9 million. Net income after deductions for taxes and non-controlling amounted to 6.4 million and 0.71 per share; the figures for the same period in the previous year were 8.8 million and 0.98 per share. Net outflow of payments from current operations was 6.3 million compared to 10.2 million a year ago. Out payments for tangible and intangible assets was 3.5 million compared to 4.9 million a year ago.
The company provides earnings guidance for the full year 2013. For the period, the company expected sales will be 4-5% higher than in the previous year of 449 million and the result from operations (EBIT) will be in the range of 22-24 million. Profit due to non-controlling interests is projected to rise to approximately 0.8 million compared to 0.3 million a year ago. Consolidated net income is expected to be below the level of the previous year. Free cash flow is expected to be in the range of Roughly 10 million for 2013, with a further increase in 2014.
Hawesko Holding SE, formerly Hawesko Holding AG, is a Germany-based retailer and wholesaler of wines, champagnes, and other alcoholic drinks. The Company reports 3 operating segments: Retail, e-commerce, and Business 2 Business (B2B). Retail and e-commerce serve end customers along a variety of distribution channels, while the B2B segment supplies restaurants and commercial resellers. The Retail segment serves multi-channel trading by selling wine via a network of retail outlets (Jacquesâ) run by independent agency partners, based around shops, bars and an online shop, in the guise of Wein & Co. B2B is the wholesale and distribution segment, comprising business activities with retailers, an in-house sales force and by an organization of trade representatives via Wein-Wolf and Globalwine in Austria and Swiss markets. The e-commerce segment comprises distance selling of wine and champagne directly to consumers, gifts for corporate and private customers by covering all formats of trading.
Hawesko Holding AG Announces Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013; Provides Earnings Guidance for the Full Year 2013