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25.06.2024 07:00:37 - dpa-AFX: EQS-News: HORNBACH Group delivers strong Q1 2024/25 results increasing earnings per share y-o-y by 44% - full-year outlook confirmed unchanged (english)
HORNBACH Group delivers strong Q1 2024/25 results increasing earnings per
share y-o-y by 44% - full-year outlook confirmed unchanged
EQS-News: HORNBACH Holding AG & Co. KGaA / Key word(s): Quarterly / Interim
Statement/Quarter Results
HORNBACH Group delivers strong Q1 2024/25 results increasing earnings per
share y-o-y by 44% - full-year outlook confirmed unchanged
25.06.2024 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
HORNBACH Group delivers strong Q1 2024/25 results increasing earnings per
share y-o-y by 44% - full-year outlook confirmed unchanged
Table 1: Key figures HORNBACH Holding AG & Co. KGaA Group
1) Excluding currency items; including BODENHAUS and online sales
2) Adjusted to exclude non-operating income and expenses
Rounding up or down may lead to discrepancies between percentages and
totals. Percentage figures calculated on basis of EUR 000s.
Bornheim (Palatinate), Germany, June 25, 2024.
The HORNBACH Group (HORNBACH Holding AG & Co. KGaA Group; ISIN:
DE0006083405) reported strong figures for Q1 2024/25 (March 1, 2024 to May
31, 2024). Consolidated net sales increased by 1.8% to EUR 1,805.7 million
as good weather in March and April partly outweighed the continued effects
of customer caution regarding big-ticket and discretionary categories.
Adjusted EBIT was up significantly y-o-y by 33.8% to EUR 146.4 million based
on improved top line in March and April, an improved gross margin and
ongoing cost discipline. Accordingly, earnings per share in Q1 2024/25
increased to EUR 5.96 from EUR 4.15 in the previous year. For FY 2024/25
HORNBACH continues to expect sales slightly above the previous year's level
(EUR 6,161 million) as well as an adjusted EBIT at or slightly above the
level of the 2023/24 financial year (EUR 254.2 million).
'Warmer weather across Continental Europe in March and April as well as the
strong commitment of our colleagues positively impacted customer engagement
and sales in the first quarter, particularly our sales of plants and
gardening products. Our earnings, as expected, significantly improved
compared to last year's quarter which was affected by cold and rainy spring
weather. However, we remain a bit cautious as we need to evaluate customer
appetite for renovation projects over summer, also in light of international
sporting events we have in Europe in the next months,' commented Erich
Harsch, CEO of HORNBACH Baumarkt AG.
Albrecht Hornbach, CEO of HORNBACH Management AG added: 'We should see a
positive impact on our business as inflation and interest rates continue to
fall and consumer sentiment lightens up. The improving macroeconomic
conditions, however, are not yet translating into higher spending,
especially with regard to big-ticket, long-term projects. Therefore, we keep
our guidance unchanged for the time being.'
At HORNBACH Baumarkt AG, the largest operating subgroup, net sales increased
by 2.6% to EUR 1,711.4 million (Q1 2023/24: EUR 1,667.6 million). On a
like-for-like basis and exchange rate adjusted, sales increased by 2.5% in
Q1 2024/25 (Q1 2023/24: -3.2%). As of May 31, 2024, the subgroup operated a
total of 171 DIY megastores with garden centers and online shops in nine
European countries.
Net sales in Germany saw slightly stronger recovery
In Germany, net sales of HORNBACH Baumarkt subgroup increased by 2.8% to EUR
831.2 million in the first quarter (Q1 2023/24: EUR 808.5 million).
Like-for-like sales were up 2.9% (2023/24: -5.7%). Net sales outside of
Germany grew by 2.4% to EUR 880.1 million (Q1 2023/24: EUR 859.2 million).
On a like-for-like basis and exchange rate adjusted, sales in Other European
Countries increased by 2.1% (Q1 2023/24: -0.8%). The international share of
sales of HORNBACH Baumarkt AG subgroup stood at 51.4% (Q1 2023/24: 51.5%).
Online sales (including Click & Collect) accounted for 12.4% of HORNBACH
Baumarkt's total sales in Q1 2024/25 (Q1 2023/24: 13.3%), remaining well
above pre-Covid levels. Compared with the previous year's quarter, online
sales declined by 4.0% to EUR 212.6 million in Q1 2024/25.
The HORNBACH Baustoff Union GmbH (HBU) subgroup continued to be affected by
the ongoing weakness in the German construction industry and recorded sales
of EUR 95.7 million in the first quarter (Q1 2023/24: EUR 105.4 million).
The subgroup currently operates 38 builders' merchant outlets in
south-western Germany and in France close to the German border.
Earnings significantly improved compared to last year's Q1
The adjusted EBIT of HORNBACH Group increased by 33.8% to EUR 146.4 million
(Q1 2023/24: EUR 109.4 million) based on a more favorable spring season
compared to the previous year. As such, the adjusted EBIT margin in Q1
2024/25 improved to 8.1% (Q1 2023/24: 6.2%). Gross margin came in at 35.4%
(Q1 2023/24: 33.6%) as it continued to benefit from normalized core
commodity prices as well as good weather in March and April, leading to a
healthier product mix. While operating costs were affected by higher wages,
overall costs increased slower than sales due to the Group's ongoing focus
on cost discipline.
Adjusted EBIT in the HORNBACH Baumarkt subgroup increased by 40.1% to EUR
135.2 million (Q1 2023/24: EUR 96.5 million). HORNBACH Baustoff Union
subgroup reported adjusted EBIT of EUR 2.0 million (Q1 2023/24: EUR 2.8
million) and HORNBACH Immobilien subgroup recorded EUR 15.9 million (Q1
2023/24: EUR 16.3 million).
Earnings per HORNBACH Holding share increased to EUR 5.96 (Q1 2023/24: EUR
4.15).
HORNBACH confirms cautious outlook for 2024/25
Based on a weaker start into Q2 in June and in light of still subdued
customer sentiment, HORNBACH confirms the outlook given on May 22, 2024. The
Group continues to expect net sales in the financial year 2024/25 slightly
above6) the previous year's level (EUR 6,161 million) and adjusted EBIT at
or slightly above6) the level of the 2023/24 financial year (EUR 254.2
million) with gross margins stabilizing at the current higher levels.
As outlined on May 22, 2024, despite continued cost discipline, further cost
increases are inevitable, which will largely result from salary adjustments
following the high inflation rates in the previous year.
Table 2: Miscellaneous key figures HORNBACH Holding AG & Co. KGaA Group
3) Of which 169 HORNBACH DIY stores with garden centers and two BODENHAUS
outlets
4) Sales area BHB: Closed building (warm or cold): 100%; covered open space
(cold): 50 %; building material drive-in (cold): 50 %; non-covered open
space (cold): 25 %.
5) Number of employees including passive employees
6) Guidance nomenclature:
Sales 'at previous year's level' = -1% to +1% | 'slight' = +/- 2% to +/- 5%
| 'significant' = changes of more than 6%.
Adj. EBIT 'at previous year's level' = -5% to +5% | 'slight' = +/- 5% to +/-
12% | 'significant' = > +/- 12%.
Note
The Quarterly Statement of the HORNBACH Holding AG & Co. KGaA Group for Q1
2024/25 is available online at: www.hornbach-holding.de.
The analyst and investor update call is scheduled for 8:30 AM CEST today
(English). A live broadcast is accessible via the following link:
https://channel.royalcast.com/landingpage/hornbach/20240625_1/
About HORNBACH Group
HORNBACH Group is an independent, family-run retail group under the umbrella
of HORNBACH Holding AG & Co. KGaA, which is listed on the Frankfurt Stock
Exchange and represented in the SDAX. The largest subsidiary, HORNBACH
Baumarkt AG, operates 171 DIY megastores with garden centers (incl.
specialist stores) and online shops in nine European countries. The Group
also includes HORNBACH Baustoff Union, a regional builders' merchant company
with 38 locations in southwestern Germany and France, as well as HORNBACH
Immobilien AG, which develops retail real estate for the Group. In the
financial year 2023/24 (reporting date: February 29, 2024), the HORNBACH
Group generated net sales of EUR 6.2 billion, making it one of the five
largest DIY and garden retail companies in Europe. The Group has a workforce
of around 25,000 employees.
HORNBACH Holding on LinkedIn
---------------------------------------------------------------------------
25.06.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
---------------------------------------------------------------------------
End of News EQS News Service
---------------------------------------------------------------------------
1931845 25.06.2024 CET/CEST
share y-o-y by 44% - full-year outlook confirmed unchanged
EQS-News: HORNBACH Holding AG & Co. KGaA / Key word(s): Quarterly / Interim
Statement/Quarter Results
HORNBACH Group delivers strong Q1 2024/25 results increasing earnings per
share y-o-y by 44% - full-year outlook confirmed unchanged
25.06.2024 / 07:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
HORNBACH Group delivers strong Q1 2024/25 results increasing earnings per
share y-o-y by 44% - full-year outlook confirmed unchanged
* Consolidated net sales increased by 1.8% in Q1 2024/25 due to favorable
weather conditions counterbalancing effects of the ongoing challenging
consumer environment
* Adjusted consolidated operating earnings (EBIT) increased by 33.8% to
EUR 146.4 million due to normalized gross margin and cost discipline
* Full-year outlook confirmed unchanged in light of still subdued customer
sentiment: Net full-year sales expected slightly above 2023/24, adjusted
EBIT projected to be at the same level or slightly above 2023/24
Table 1: Key figures HORNBACH Holding AG & Co. KGaA Group
(in EUR million, unless otherwise stated) Q1 Q1 Change
2024/25 2023/24 in %
Net sales 1,805.7 1,773.5 1.8
of which HORNBACH Baumarkt AG subgroup 1,711.4 1,667.6 2.6
- Germany 831.2 808.5 2.8
- Other European countries 880.1 859.2 2.4
Like-for-like sales growth (HORNBACH 2.5% (3.2%)
Baumarkt)1)
of which HORNBACH Baustoff Union GmbH 95.7 105.4 (9.2)
subgroup
Gross profit 639.1 596.0 7.2
Gross margin (as % of net sales) 35.4% 33.6%
EBIT 146.4 109.9 33.3
Adjusted EBIT2) 146.4 109.4 33.8
Adjusted EBIT margin 8.1% 6.2%
Consolidated earnings before taxes 131.3 94.1 39.5
Consolidated net income before minority 100.0 71.0 40.8
interests
Earnings per Hornbach Holding share 5.96 4.15 43.6
(basic/diluted in EUR)
Investments (CAPEX) 23.4 51.1 (54.3)
1) Excluding currency items; including BODENHAUS and online sales
2) Adjusted to exclude non-operating income and expenses
Rounding up or down may lead to discrepancies between percentages and
totals. Percentage figures calculated on basis of EUR 000s.
Bornheim (Palatinate), Germany, June 25, 2024.
The HORNBACH Group (HORNBACH Holding AG & Co. KGaA Group; ISIN:
DE0006083405) reported strong figures for Q1 2024/25 (March 1, 2024 to May
31, 2024). Consolidated net sales increased by 1.8% to EUR 1,805.7 million
as good weather in March and April partly outweighed the continued effects
of customer caution regarding big-ticket and discretionary categories.
Adjusted EBIT was up significantly y-o-y by 33.8% to EUR 146.4 million based
on improved top line in March and April, an improved gross margin and
ongoing cost discipline. Accordingly, earnings per share in Q1 2024/25
increased to EUR 5.96 from EUR 4.15 in the previous year. For FY 2024/25
HORNBACH continues to expect sales slightly above the previous year's level
(EUR 6,161 million) as well as an adjusted EBIT at or slightly above the
level of the 2023/24 financial year (EUR 254.2 million).
'Warmer weather across Continental Europe in March and April as well as the
strong commitment of our colleagues positively impacted customer engagement
and sales in the first quarter, particularly our sales of plants and
gardening products. Our earnings, as expected, significantly improved
compared to last year's quarter which was affected by cold and rainy spring
weather. However, we remain a bit cautious as we need to evaluate customer
appetite for renovation projects over summer, also in light of international
sporting events we have in Europe in the next months,' commented Erich
Harsch, CEO of HORNBACH Baumarkt AG.
Albrecht Hornbach, CEO of HORNBACH Management AG added: 'We should see a
positive impact on our business as inflation and interest rates continue to
fall and consumer sentiment lightens up. The improving macroeconomic
conditions, however, are not yet translating into higher spending,
especially with regard to big-ticket, long-term projects. Therefore, we keep
our guidance unchanged for the time being.'
At HORNBACH Baumarkt AG, the largest operating subgroup, net sales increased
by 2.6% to EUR 1,711.4 million (Q1 2023/24: EUR 1,667.6 million). On a
like-for-like basis and exchange rate adjusted, sales increased by 2.5% in
Q1 2024/25 (Q1 2023/24: -3.2%). As of May 31, 2024, the subgroup operated a
total of 171 DIY megastores with garden centers and online shops in nine
European countries.
Net sales in Germany saw slightly stronger recovery
In Germany, net sales of HORNBACH Baumarkt subgroup increased by 2.8% to EUR
831.2 million in the first quarter (Q1 2023/24: EUR 808.5 million).
Like-for-like sales were up 2.9% (2023/24: -5.7%). Net sales outside of
Germany grew by 2.4% to EUR 880.1 million (Q1 2023/24: EUR 859.2 million).
On a like-for-like basis and exchange rate adjusted, sales in Other European
Countries increased by 2.1% (Q1 2023/24: -0.8%). The international share of
sales of HORNBACH Baumarkt AG subgroup stood at 51.4% (Q1 2023/24: 51.5%).
Online sales (including Click & Collect) accounted for 12.4% of HORNBACH
Baumarkt's total sales in Q1 2024/25 (Q1 2023/24: 13.3%), remaining well
above pre-Covid levels. Compared with the previous year's quarter, online
sales declined by 4.0% to EUR 212.6 million in Q1 2024/25.
The HORNBACH Baustoff Union GmbH (HBU) subgroup continued to be affected by
the ongoing weakness in the German construction industry and recorded sales
of EUR 95.7 million in the first quarter (Q1 2023/24: EUR 105.4 million).
The subgroup currently operates 38 builders' merchant outlets in
south-western Germany and in France close to the German border.
Earnings significantly improved compared to last year's Q1
The adjusted EBIT of HORNBACH Group increased by 33.8% to EUR 146.4 million
(Q1 2023/24: EUR 109.4 million) based on a more favorable spring season
compared to the previous year. As such, the adjusted EBIT margin in Q1
2024/25 improved to 8.1% (Q1 2023/24: 6.2%). Gross margin came in at 35.4%
(Q1 2023/24: 33.6%) as it continued to benefit from normalized core
commodity prices as well as good weather in March and April, leading to a
healthier product mix. While operating costs were affected by higher wages,
overall costs increased slower than sales due to the Group's ongoing focus
on cost discipline.
Adjusted EBIT in the HORNBACH Baumarkt subgroup increased by 40.1% to EUR
135.2 million (Q1 2023/24: EUR 96.5 million). HORNBACH Baustoff Union
subgroup reported adjusted EBIT of EUR 2.0 million (Q1 2023/24: EUR 2.8
million) and HORNBACH Immobilien subgroup recorded EUR 15.9 million (Q1
2023/24: EUR 16.3 million).
Earnings per HORNBACH Holding share increased to EUR 5.96 (Q1 2023/24: EUR
4.15).
HORNBACH confirms cautious outlook for 2024/25
Based on a weaker start into Q2 in June and in light of still subdued
customer sentiment, HORNBACH confirms the outlook given on May 22, 2024. The
Group continues to expect net sales in the financial year 2024/25 slightly
above6) the previous year's level (EUR 6,161 million) and adjusted EBIT at
or slightly above6) the level of the 2023/24 financial year (EUR 254.2
million) with gross margins stabilizing at the current higher levels.
As outlined on May 22, 2024, despite continued cost discipline, further cost
increases are inevitable, which will largely result from salary adjustments
following the high inflation rates in the previous year.
Table 2: Miscellaneous key figures HORNBACH Holding AG & Co. KGaA Group
May 31, February 29, ± in
2024 2024 %
Shareholders' equity as % of total 45.3% 43.5%
assets
Number of retail stores3) 171 171 0.0
Sales areas in 000 m² (BHB)4) 2,051 2,051 0.0
Number of HORNBACH Baustoff Union 38 38 0.0
outlets
Number of employees5) 25,334 24,783 2.2
3) Of which 169 HORNBACH DIY stores with garden centers and two BODENHAUS
outlets
4) Sales area BHB: Closed building (warm or cold): 100%; covered open space
(cold): 50 %; building material drive-in (cold): 50 %; non-covered open
space (cold): 25 %.
5) Number of employees including passive employees
6) Guidance nomenclature:
Sales 'at previous year's level' = -1% to +1% | 'slight' = +/- 2% to +/- 5%
| 'significant' = changes of more than 6%.
Adj. EBIT 'at previous year's level' = -5% to +5% | 'slight' = +/- 5% to +/-
12% | 'significant' = > +/- 12%.
Note
The Quarterly Statement of the HORNBACH Holding AG & Co. KGaA Group for Q1
2024/25 is available online at: www.hornbach-holding.de.
The analyst and investor update call is scheduled for 8:30 AM CEST today
(English). A live broadcast is accessible via the following link:
https://channel.royalcast.com/landingpage/hornbach/20240625_1/
About HORNBACH Group
HORNBACH Group is an independent, family-run retail group under the umbrella
of HORNBACH Holding AG & Co. KGaA, which is listed on the Frankfurt Stock
Exchange and represented in the SDAX. The largest subsidiary, HORNBACH
Baumarkt AG, operates 171 DIY megastores with garden centers (incl.
specialist stores) and online shops in nine European countries. The Group
also includes HORNBACH Baustoff Union, a regional builders' merchant company
with 38 locations in southwestern Germany and France, as well as HORNBACH
Immobilien AG, which develops retail real estate for the Group. In the
financial year 2023/24 (reporting date: February 29, 2024), the HORNBACH
Group generated net sales of EUR 6.2 billion, making it one of the five
largest DIY and garden retail companies in Europe. The Group has a workforce
of around 25,000 employees.
Press and Investor Relations
contacts
Antje Kelbert Head of Investor Anne Spies Senior Investor
Relations Phone: +49 (0) 6348 / 60 Relations Manager Phone: +49 (0)
2444 (1)antje.kelbert@hornbach.com 6348 / 60 4558
Christian Grether Head of Public (1)anne.spies@hornbach.com
Relations Phone: +49 (0) 6348 / 60 Maximilian Franz Investor
2571 Relations Manager Phone: +49 (0)
(2)christian.grether@hornbach.com 6348 / 60 2071
1. (2)maximilian.franz@hornbach.com
mailto:antje.kelbert@hornbach.com 1. mailto:anne.spies@hornbach.com
2. 2.
mailto:christian.grether@hornbach. mailto:maximilian.franz@hornbach.
com com
HORNBACH Holding on LinkedIn
---------------------------------------------------------------------------
25.06.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
---------------------------------------------------------------------------
Language: English
Company: HORNBACH Holding AG & Co. KGaA
Hornbachstraße 11
76879 Bornheim
Germany
ISIN: DE0006083405
WKN: 608340
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1931845
End of News EQS News Service
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1931845 25.06.2024 CET/CEST
| Name | WKN | Börse | Kurs | Datum/Zeit | Diff. | Diff. % | Geld | Brief | Erster | Schluss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
 |
HORNBACH HOLD.ST O.N. | 608340 | Xetra | 79,000 | 28.06.24 16:12:00 | -0,100 | -0,13% | 78,700 | 79,100 | 79,200 | 79,100 |
