HORNBACH Baumarkt AG / Key word(s): Change in Forecast
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HORNBACH Baumarkt AG reduces earnings target
Bornheim bei Landau, December 9, 2015.
The Board of Management of HORNBACH Baumarkt AG has updated the company’s
expected earnings for the current 2015/2016 financial year (March 1, 2015
to February 29, 2016) to account for an unsatisfactory third-quarter
Although the Group increased its consolidated sales for the period from
September to November 2015 by 5.9% to EUR 863 million, based on initial
preliminary figures consolidated operating earnings (EBIT) for the same
period fell year-on-year by around 74% to EUR 5.0 million (2014/2015: EUR
19.4 million). This severe downturn in quarterly earnings related above all
to the DIY store business in Germany. Despite sales remaining virtually
unchanged on the previous year, the earnings performance here was adversely
affected by higher costs and a lower gross margin.
Given this development, full-year consolidated operating earnings (EBIT)
for the 2015/2016 financial year are now no longer expected to roughly
match the level reported for the 2014/2015 financial year but rather to
fall short of the previous year’s figure of EUR 109.8 million.
The Board of Management sees the target corridor for sales growth at the
HORNBACH Baumarkt AG Group, namely of generating sales growth in a medium
single-digit percentage range, as unchanged.
Further details will be released upon publication of the interim report for
the first nine months of 2015/2016 on December 21, 2015
HORNBACH Baumarkt AG
The Board of Management
Tel. +49-6348-60 2444
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Company: HORNBACH Baumarkt AG
76878 Bornheim bei Landau/Pfalz
Phone: +49 (0)6348 / 60 00
Fax: +49 (0)6348 / 60 40 00
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
End of Announcement DGAP News-Service