In the face of a difficult economic environment marked by reduced consumer spending, Hawesko Holding SE has delivered a solid performance for the 2024 financial year.
According to preliminary figures, the premium wine trading group achieved consolidated sales of EUR 637 million and an operating result (EBIT) of EUR 32 million, aligning with the forecast set by the Management Board. The operating result before depreciation and amortization (EBITDA) stood at EUR 57 million, maintaining the level of the previous year.
A Challenging Year, Yet Positive Momentum
The year 2024 proved to be a testing one for many businesses, with private households reducing their spending amidst ongoing inflationary pressures. Despite these challenges, the Hawesko Group was able to generate positive momentum throughout the year. Initially, the group faced a slow start to 2024, but this gradually changed as the year progressed. By the fourth quarter, sales saw a significant uptick, especially during the key Christmas period, providing an encouraging end to the year.
Thorsten Hermelink, CEO of Hawesko Group, noted, "After a cautious start to 2024, we were able to make up significant ground from the summer onwards and break the trend of declining sales." This recovery highlights the group’s ability to adapt and thrive even in challenging times.
Steady Performance Across Segments
Hawesko Group operates in three key segments: retail, e-commerce, and B2B (business-to-business). Despite fluctuations in consumer behavior, each segment showed resilience over the course of the year.
- Retail Segment: The retail business, represented by brands such as Jacques’ and Wein & Co., exhibited the most stability, registering a slight decrease of just 1% compared to the previous year. Despite the tough market conditions, retail sales maintained a steady level, demonstrating the ongoing demand for high-quality wine and spirits.
- E-Commerce Segment: The e-commerce division, including brands like HAWESKO, Vinos, and WirWinzer, showed signs of recovery, although it remained 2% below the previous year. This reflects the shift in consumer behavior, with online shopping continuing to grow despite overall retail sluggishness.
- B2B Segment: The B2B segment, which includes key players such as Wein Wolf, Abayan, and Grand Cru Select, saw a weaker performance with a 4% decline in sales compared to the prior year. However, it experienced the largest growth in the fourth quarter, highlighting the potential for business-to-business sales to rebound in the future.
Cost-Cutting and Structural Changes
Throughout the year, Hawesko Holding focused not only on recovering sales but also on improving its internal cost structures. This dual approach has positioned the group for future growth, with the company optimistic about the benefits of these measures in both 2024 and the years ahead. Hermelink commented, "We have worked intensively on our costs and structures so that we will benefit from this in terms of earnings both in 2024 and in the years to come."
The group's strategic efforts to streamline operations and enhance efficiency are expected to result in improved profitability, making Hawesko a strong contender in the premium wine and spirits market.
Looking Ahead
Looking ahead, Hawesko Group plans to continue its customer-centric approach by focusing on both existing and new clientele. The company will be launching innovations, expanding services, and introducing new business models to further engage and inspire its customer base. "Enjoyment is and remains an integral part of our customers' lives," says Hermelink, underscoring the timeless appeal of wine as a source of pleasure and experience.
As a leading player in the wine and spirits industry, the Hawesko Group, with its strong brands and dedicated workforce of around 1,300 employees, remains committed to delivering quality and satisfaction to wine lovers and businesses alike. The group's shares are listed on both the Hanseatic Stock Exchange in Hamburg and the Prime Standard segment of the Frankfurt Stock Exchange, giving investors confidence in its resilience and long-term prospects.
Source: Hawesko Group