PRESS RELEASE

Hawesko Group starts with good results from the pandemic

• Turnover in 2022 just below the record turnover in 2021 and significantly better than before Corona
• Inflation-related cost increases could be largely compensated for
• Stable dividend of € 1.90 per share proposed

Hamburg, 20 April 2023: The Board of Management of the wine trading group Hawesko Holding SE (HAW, HAWG.DE, DE0006042708) presented stable results for the 2022 financial year and developments in the first quarter of 2023 at today's annual press conference.

The Chairman of the Board of Management of the Hawesko Group, Thorsten Hermelink, commented: "Behind us lies a financial year that has deepened the great trust our customers place in us as a competent wine merchant, but one that also held extraordinary challenges in store. As expected, the Hawesko Group was able to confirm a high level of sales in 2022 after the pandemic years and once again inspired many people who love wine. We responded resolutely to the market changes and sharply increased costs for energy, glass, paper, cardboard and transport, adjusted our offerings and optimised our procurement. Price adjustments were also part of the necessary measures, so that the cost increases could be passed on to the market to a large extent."

In the 2022 financial year, Group revenue of € 671.5 million was slightly (1.3 percent) below the previous year's level (€ 680.5 million), but a strong 35 percent above the pre-pandemic level of 2019. In 2022, the absence of the corona-induced special boom led to an expected normalisation in e-commerce and growth in restaurant sales. Around € 6 million out of a total of nearly € 30 million in inflation-related cost increases could not yet be passed on in 2022, reducing profitability compared to the record previous year. Group EBIT in 2022 was € 39.1 million (previous year: € 53.1 million) and the EBIT margin was 5.8 percent (previous year: 7.8 percent). 

Consolidated net income after taxes and non-controlling interests amounted to € 25.6 million (previous year: € 33.6 million). This corresponds to € 2.85 per share (previous year: € 3.74). The equity ratio rose to 31 per cent (previous year: 30 percent).

For 2023, the Executive Board expects a persistently pessimistic consumer climate and continued high inflation. The recovery in the gastronomy and hotel industry will continue as people continue to feel a pent-up demand in 2023. At the same time, there will be at least a temporary reluctance to buy on the part of customers or an orientation towards lower bottle prices in the e-commerce segment. The retail segment, on the other hand, will be able to record a constant customer frequency and slightly increasing revenues due to its lower shopping baskets as a friendly local supplier. Overall, the Executive Board expects a revenue development of +2 to -3 per cent for 2023 compared to the previous year and an operating EBIT of € 37 to € 42 million.

The first quarter of 2023 has so far confirmed the expectations for the full year 2023. According to provisional results, the Hawesko Group's sales of around € 153 million are slightly (2.3 percent) above the previous year's level (€ 149.5 million). The B2B and retail segments grew slightly and more than compensated for the e-commerce segment, which is still lagging behind. At around € 5.5 million, operating EBIT will still fall short of the previous year's figure (€ 7.3 million), although profitability is expected to catch up in the course of the year.

In good core health, the Hawesko Group is well equipped to meet the current challenges. It is planned to propose an unchanged dividend of € 1.90 per share for the 2022 financial year to the Annual General Meeting.

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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.
 

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