Hawesko Holding SE: Hawesko Holding SE announces preliminary results for the third quarter and lowers outlook for full year

Hamburg, October 13, 2023. The wine trading group Hawesko Holding SE (HAW, HAWG.DE, DE0006042708) announces preliminary results for the third quarter of 2023 and lowers its outlook for the full year. Continued poor consumer sentiment will not lead to the expected recovery in business development in 2023.

For the third quarter of 2023, the Hawesko Group anticipates an operating profit of € 5.3 million, unchanged from the previous year. At € 143 million, revenue is just under three percent down on the previous year. The slight decline in sales was offset by cost savings in earnings. However, the planned increases in sales and margins were not achieved.

The slower turnaround of the Austrian subsidiary WEIN&CO due to the economic situation and the persistently high level of interest rates will also necessitate an extraordinary goodwill impairment of up to € 8.2 million in the third quarter. This will lead to a negatively reported consolidated result in the third quarter.

The Board of Management of Hawesko Holding SE expects the business performance in the fourth quarter of 2023 to be on a par with the previous year, rather than recovering as previously, due to persistent inflation and continuing subdued consumer sentiment. For the full year 2023, this leads to an adjusted forecast of operating earnings of € 32 to 35 million (previous forecast: € 37 million). At the same time, Hawesko Holding SE has also adjusted its expectations for free cash flow (€ 9 to 12 million).

A detailed analysis and the interim financial statements will be published on November 8, 2023 in the Quarterly Statement as of September 30, 2023.

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Publisher:

Hawesko Holding SE
Elbkaihaus
Grosse Elbstrasse 145 d
22767 Hamburg
Germany

Press and Investor Relations contact:

Lena Lundius

Head of Investor Relations & Communications

Tel. (040) 360 232 597

Fax (040) 30 39 21 05

E-Mail: l.lundius@hawesko-holding.com