The Hawesko Group recorded a 2% decrease in revenue year-over-year for the 2024 fiscal year – excluding the Swedish subsidiary 'The Wine Company' (TWI), which was divested in September 2024, as the company explained upon inquiry from our sister magazine 'WEINWIRTSCHAFT'. According to the group, total revenue generated was €639.5m (2023: €651.6m, excluding TWI). This means the company remains significantly above its pre-pandemic revenue level (2019: €556m). Operating EBITDA was slightly increased to €58.1m, reportedly "thanks to intelligent pricing and strict cost discipline." Consolidated net income according to the P&L statement is approximately €12.89m, while the net profit reported in the annual financial statements stands at around €18.5m.
In the Retail segment ('Jacques' Wein-Depot', 'Wein & Co.'), sales revenue saw a slight increase (+0.3% to €234m) despite a declining overall wine market. The overall revenue decline is therefore primarily attributable to E-commerce (–1.8% to €208m) and B2B (–4.4% to €198m). According to Hawesko, all segments had a difficult start to the fiscal year but showed a positive development towards the year-end and the holiday season trading period. Due to the slightly increased operating result, the EBITDA margin also grew by 0.2% to 9.1%. However, increased depreciation and amortization – mainly attributable to the warehouse expansion at the Tornesch site, according to Hawesko – caused operating EBIT to fall from €34.3m in 2023 to €32.3m.
Positive outlook continues for retail segment
"We successfully concluded the 2024 fiscal year. Despite uncertain market conditions and changes in consumer behavior, the Hawesko Group remains fundamentally healthy, with an operating result at the prior-year level. In the future, we aim to outperform the market and continue to gain market share," says Thorsten Hermelink, CEO of the Hawesko Group.
For 2025, the company expects "a continued challenging market environment with subdued consumer sentiment and persistent geopolitical uncertainties." The first quarter of 2025 reflects "ongoing market headwinds." Quarterly results were also negatively impacted by the fact that Easter occurred in mid-April in 2025. In the Retail segment, already successful in 2024, a further revenue increase is expected for the current fiscal year, while the B2B sector ('Globalwine', 'Wein Wolf Gruppe', etc.) "is expected to achieve moderate growth at best." In E-commerce ('Hawesko', 'Vinos', 'WirWinzer', etc.), the 2024 level is intended to be "stabilized" – the decline here was much more drastic in 2023 (–9%), which can be explained by the phasing out of the Corona pandemic.
Overall, the Group's Management Board forecasts a slight revenue increase of up to 2% for 2025, which would bring revenue back to the 2023 level. The intention is to recommend a dividend of €1.30/share for the 2024 fiscal year to the Annual General Meeting (AGM). This would be identical to the previous year; for the 2022 fiscal year, the dividend had been €1.90/share. VM
