Hawesko Group defies challenging market conditions: Sales and profitability
remain at a high level in 2023
EQS-News: Hawesko Holding SE / Key word(s): Annual Report/Annual Results
Hawesko Group defies challenging market conditions: Sales and profitability
remain at a high level in 2023
18.04.2024 / 08:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
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PRESS RELEASE
Hawesko Group defies challenging market conditions: Sales and profitability
remain at a high level in 2023
* Hawesko Group holds its own in a challenging environment with falling
consumer spending and a declining wine market: sales are almost on a par
with the previous year.
* Profitability was also stabilised: Despite enormous cost pressure due to
sharply rising production costs, operating performance is only slightly
down on the previous year thanks to internal improvements and
intelligent pricing.
Hamburg, 18 April 2024: Hawesko Holding SE (HAW, HAWG.DE, DE0006042708)
today published its annual report for the 2023 financial year, providing a
detailed overview of the past financial year.
Thorsten Hermelink, CEO of the Hawesko Group, commented as follows: "In the
2023 financial year, we succeeded in continuing our development of recent
years at a high level, despite a very tricky economic environment. Our focus
on cost discipline and intelligent pricing has paid off. This underlines our
ability to continue to fascinate customers with our offers and confirms our
role as a leading player in the European wine trade. Driven by our goal of
creating extraordinary moments of enjoyment, we remain motivated and
determined every day to continue on our path and emerge stronger from these
challenging times."
In the 2023 financial year, the Hawesko Group generated sales of EUR 660
million, which was slightly below the previous year (-2%) but impressively
up by double-digit percentages on the level before the pandemic. While the
operating units in the Retail and B2B segments performed very well, the
Group was unable to escape the weak trend in the German e-commerce market -
in line with the industry as a whole. In an environment characterised
overall by consumer restraint and a general decline in per capita wine
consumption, the Hawesko Group nevertheless performed better than the market
as a whole.
Highly differentiated price increases - combined with further development of
the product ranges, which strengthened customers' purchasing behaviour -
contributed to this development. At the same time, rising costs along the
entire value chain were countered thanks to targeted cost reductions and
productivity improvements, with the result that Group operating EBIT* of EUR
34 million was only slightly lower than in the previous year (EUR 37 million).
The operating EBIT margin was a solid 5.1 per cent (previous year: 5.6 per
cent).
In autumn 2023, the Hawesko Group entered into a significant partnership in
the form of a joint venture with the Dunker Group (Tallinn, Estonia) in
order to expand further. With sales of EUR 77 million, the Dunker Group is a
leading and dynamically growing B2B wine retailer in the premium segment in
Estonia, Lithuania and Latvia, thereby strengthening the strategic ambitions
to grow further in Europe.
Looking ahead to 2024, the Board of Management again expects the Hawesko
Group to move sideways in view of the persistently challenging economic
conditions. However, in anticipation of pleasing year-end business, a
slightly positive sales trend is expected. On the earnings side, given the
usual seasonality with a profitable year-end business, it is expected that
at least the previous year's level will be achieved for the year as a whole.
The e-commerce segment is likely to be influenced most directly by consumer
sentiment. In comparison, the Retail segment and its perception as a
business for everyday needs with very high customer loyalty and the B2B
segment are expected to continue their stable development.
Following the completion of the Hawesko Group's largest single investment to
date in the expansion of the logistics centre in Tornesch in spring 2024,
the use of technological support was also successfully increased. The
autonomous mobile robot technologies used for the first time to expand
customer service and cost efficiency form the basis for further growth and
thus the expansion of permanent jobs.
With sales down on the previous year in the first quarter of 2024, the
challenges remain great. The Hawesko Group is continuing to adapt to the
current economic situation. At the same time, optimisations are being
implemented from product selection to sales strategy and the increased use
of AI. The first recognisable signs indicate that consumer sentiment will
improve slightly in the second half of the year and could lead to impetus to
buy.
The Hawesko Group anticipates an operating result of around EUR 34 million in
2023. At over 5 percent, the profit margin achieved is within the forecast
range. The persistently challenging market conditions already led to
systematic cost reductions in all segments of the Hawesko Group at the start
of 2023. This was the only way to stabilise the operating result.
*adjusted for non-recurring, non-operating items in accordance with the
catalogue
# # #
As a leading trading group for high-quality wines, champagnes and spirits,
the Hawesko Group employs around 1,300 people across the Retail (Jacques'
and Wein & Co.), B2B (especially Wein Wolf, Abayan and Grand Cru Select) and
e-commerce (especially HAWESKO, Vinos and WirWinzer) segments. The shares in
Hawesko Holding SE are listed on the Hanseatic Stock Exchange, Hamburg, and
in the Prime Standard segment of the Frankfurt Stock Exchange.
Publisher:
Hawesko Holding SE
Elbkaihaus
Grosse Elbstrasse 145 d
22767 Hamburg
Germany
Internet:
hawesko-holding.com Corporate information
hawesko.de Extensive range for wine connoisseurs
jacques.de Jacques' locations and online offerings
weinco.at Austria's leading specialist wine dealer
vinos.de The best wines from Spain
wirwinzer.de German wines directly from the producers
tesdorpf.de Traditional fine wine trader
weinart.de Rarities and top wines from around the world
the-wine-company.se Excellent wines for Sweden
enzo.de Italian wines and lifestyles
globalwine.ch Premium portfolio for highest quality demands
weinwolf.de International wine variety
volume-spirits.de Exquisite spirits portfolio
abayan.de Top wines from Italy
global-wines.cz Omnichannel premium retailer in the Czech Republic
dunker.ee Premium distributor in the Baltic States
Press and Investor Relations contact:
Tel. (+49) 40 3039 2100
Tel. (+49) 40 3039 2105
E-mail: ir@hawesko-holding.com
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Language: English
Company: Hawesko Holding SE
Große Elbstraße 145 d
22767 Hamburg
Germany
Phone: +49 40 30 39 2100
Fax: +49 40 30 39 2105
E-mail: ir@hawesko-holding.com
Internet: www.hawesko-holding.com
ISIN: DE0006042708
WKN: 604270
Listed: Regulated Market in Frankfurt (Prime Standard),
Hamburg; Regulated Unofficial Market in Berlin,
Dusseldorf, Hanover, Munich, Stuttgart, Tradegate
Exchange
EQS News ID: 1883093
End of News EQS News Service
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1883093 18.04.2024 CET/CEST