Hawesko Holding AG announced consolidated earnings results for the first quarter ended March 31, 2014. The Group increased its sales in the first three months of the current fiscal year by 4.8% over the same period in the previous year, from EUR 103.0 million to EUR 108.0 million. The consolidated result from operations (EBIT) in the first quarter of 2014 rose proportionately higher due to better capacity utilisation in the mail order segment by 12.8%, from EUR 3.4 million to EUR 3.8 million. Consolidated net income excluding non-controlling interests amounted to EUR 2.5 million or EUR 0.28 per share, compared to EUR 2.2 million or EUR 0.24 per share in the previous year.

For the full fiscal year 2014, the board anticipates an increase in sales in the order of magnitude of 1 to 2% compared to the previous year (EUR 465 million), despite structurally negative effects on sales totaling EUR 13 million. A proportionately higher increase in EBIT to EUR 27 to EUR 28 million is forecast for 2014 (previous year: EUR 22.6 million). Even though a lower financial result is anticipated, consolidated net income is expected to be in the range of EUR 17 million. The management board expects free cash flow to be on the order of EUR 17 to EUR 22 million for 2014.