Hawesko Holding AG reported consolidated financial results for the first quarter ended March 2013. For the quarter, the Group achieved sales at €103.3 million at the level of the previous year of €103.4 million. Due to the shifts caused by the Bordeaux wines, the consolidated EBIT amounted to €3.5 million, down from the previous year of €4.6 million. Consolidated net income excluding non-controlling interests amounted to €2.2 million or €0.24 per share, down slightly from €2.8 million or €0.31 per share in the previous year. Free cash flow amounted to negative €8.6 million. For the full fiscal year 2013, the management board expects an increase in sales in the order of magnitude of 6% compared to the previous year of €449 million. A proportionately higher increase in EBIT to approximately €28 million is forecast for 2013 against €26.1 million in previous year. Profit due to non-controlling interests is expected to rise to approximately €0.8 million against €0.3 million in 2012. In view of the anticipated decline in the financial result, the consolidated net income is expected to be below that of the previous year. For 2014, the management board expects further increases in sales and in the EBIT, as well as in the consolidated net income. Free cash flow is expected to be in the range of roughly €15 million for 2013, with a further increase in 2014.

Hawesko Holding AG expects to increase the dividend to EUR 1.65 per share for the fiscal year 2012 (previous year: EUR 1.60). At its meeting on March 21, 2013, the supervisory board of the company approved the corresponding dividend proposal of the management board, on which the annual general meeting will vote on June 17, 2013. With the proposed rise, the ordinary dividend will be raised for the tenth consecutive year since 2002. A total of EUR 14.8 million will be paid out to the shareholders (previous year: EUR 14.4 million).

Hawesko Holding AG, Q1 2013 Earnings Call, May 07, 2013