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Hawesko with strong increase in dividend plus bonus payment


- Consolidated financial statements ratified, financial statements approved
- EBIT Euro 18.9 mill. (+12.4 %), consolidated earnings Euro 10.7 mill. (+88.6 %)
- Robust free cash flow of Euro 17.1 mill. (+18.4 %)

Hamburg, 31 March 2006. The wine trading group Hawesko Holding AG (HAW GR, HAWG.DE, DE0006042708) will raise its regular dividend for the past 2005 fiscal year to Euro 1.40 per share (prior year: Euro 1.25) and pay out a bonus of Euro 0.60 per share as well. At its meeting yesterday, the supervisory board of the company approved the corresponding dividend proposal of the management board, on which the annual general meeting will vote on 19 June 2006. The proposed 12% increase in the regular dividend reflects the percentual increase in the operating result (EBIT). The proposed bonus payout is based on the reduction of the tax expenditure, which is the result of a profit and loss transfer agreement concluded in May 2005 between the subsidiary company Jacques’ Wein-Depot and the corporate parent. A total for fiscal year 2005 of Euro 8.8 million is to be paid out to shareholders, approximately 60% more than for 2004 (Euro 5.5 million).

Furthermore, the supervisory board discussed and ratified the annual and consolidated financial statements for fiscal year 2005; the annual financial statements were approved. As previously announced, Group sales in 2005 rose slightly to Euro 287 million (prior year: Euro 286 million), despite the decline of 2.3% in the wine market overall. The Group’s operating result (EBIT) was slightly higher than originally reported based on preliminary figures, rising to Euro 18.9 million (prior year: adjusted to the new International Financial Reporting Standards [IFRS]: Euro 16.8 million). Consolidated earnings after deductions for taxes and minority interests likewise rose in 2005: to Euro 10.7 million (previous year, adjusted to the new IFRS: Euro 5.7 million). This is equivalent to a profit per share of Euro 2.44 (previous year, adjusted to the new IFRS: Euro 1.29). The consolidated balance sheet total was reduced to Euro 162.6 million (previous year, adjusted to the new IFRS: Euro 165.3 million). The free cash flow (cash flow from ongoing business activity minus capital expenditures and interest paid out) amounted to Euro 17.1 million in 2005, and surpassed that of the previous year (Euro 14.4 million, adjusted to the new IFRS) thanks to the improved profitability and the successful working capital management program.

The management board will give a detailed presentation of the results of fiscal year 2005 as well as the outlook for fiscal year 2006 on 4 May 2006 at the annual results press conference of Hawesko Holding AG.

Hawesko Holding AG is the leading supplier of premium wines and champagnes. In fiscal year 2005 the Group achieved sales of Euro 287 million through their three sales channels - specialist wine-shop retail (Jacques’ Wein-Depot), wholesale (Wein Wolf and CWD Champagner- und Wein- Distributionsgesellschaft) and mail order (in particular Hanseatisches Wein- und Sekt-Kontor). The Group employs 566 people. The shares of Hawesko Holding AG are listed on the Hanseatic Stock Exchange in Hamburg as well as in the German Entrepreneurial Index (GEX) of the Frankfurt Stock Exchange.


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