09-12-2015 04:40 PM
News Detail – Hornbach Baumarkt AG

HORNBACH Baumarkt AG: HORNBACH Baumarkt AG reduces earnings target

HORNBACH Baumarkt AG / Key word(s): Change in Forecast
09.12.2015 17:40

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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 earnings performance.

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 (www.hornbach-group.com).

The Board of Management

Axel Müller
Investor Relations
Tel. +49-6348-60 2444

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Language:     English
Company:      HORNBACH Baumarkt AG
              76878 Bornheim bei Landau/Pfalz
Phone:        +49 (0)6348 / 60 00
Fax:          +49 (0)6348 / 60 40 00
E-mail:       info@hornbach.de
Internet:     www.hornbach.de
ISIN:         DE0006084403
WKN:          608440
Indices:      SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,               Stuttgart
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