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According to its financial report, the wine trading group Hawesko Holding SE lost sales and profit in the first half of 2024. Compared to the same period of the previous year, sales fell by five per cent from 310 million euros to 294 million euros. The operating result (EBIT) even fell by around a quarter from 13.4 million euros to 9.9 million euros, reducing the return on sales from 4.3 per cent to 3.4 per cent. According to the Board of Management, one of the reasons for this was the higher logistics costs during the commissioning of the new warehouse in Tornesch.
Overall, however, the Hawesko Group was also unable to escape the weak consumer environment. The three main priorities are therefore: stabilisation and strengthening of the sales trend, continuation of strict cost discipline as well as consistent restructuring at Wein & Co and completion of the stabilisation phase in logistics. This strategy already had a positive effect in the second quarter of 2024. The Management Board also expects "challenging market conditions and little economic tailwind" for the second half of 2024, but expects sales and operating profit to reach the previous year's level. The share price of the company, which is traded in Hamburg and Frankfurt, has fallen by around 28 per cent in the past twelve months and is currently at the level of July 2010.
Hawesko-Holding employs a total of around 1,300 people through its brands HAWESKO, Jacques', Wein & Co, WeinWolf, Abayan, Grand Cru Select, Vinos and WirWinzer.
(al / source: press release)