HORNBACH Baumarkt AG / Key word(s): Change in Forecast/Quarter Results
2019/20 earnings forecast raised after significant third-quarter earnings growth
Key figures for the first nine months of 2019/20 developed as follows: Net sales rose by 7.5% to around Euro 3.50 billion (2018/19: Euro 3.26 billion), while adjusted EBIT grew by almost 50% to around Euro 200 million (2018/19: Euro 134.3 million). Nine-month EBT increased by nearly 27% to around Euro 157 million (2018/19: Euro 124.2 million).
The significant earnings growth for the third quarter and cumulatively for the first nine months makes it more likely that full-year earnings for the 2019/20 financial year will exceed recent expectations. Despite potential weather-related fluctuations and macroeconomic risks in the fourth quarter of 2019/20 (December 1, 2019 to February 29, 2020), the earnings forecast of the Hornbach Baumarkt AG Group for the 2019/20 financial year has been raised. Adjusted EBIT (2018/19: € 81.9 million) is now expected to show growth in a medium to upper double-digit percentage range (previously: “by more than 40%”).
The sales forecast for the 2019/20 financial year was confirmed. Consolidated sales are thus still expected to increase in a medium to upper single-digit percentage range.
Details about the sales and earnings performance will be published in the Statement on the Third Quarter of 2019/20 on December 19, 2019 (www.hornbach-group.com).
HORNBACH Baumarkt AG
Group Communications and Investor Relations Director
HORNBACH Holding AG & Co. KGaA
Tel. +49 (0) 6348 602444
|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, Stuttgart, Tradegate Exchange|
|EQS News ID:||933001|
|End of Announcement||DGAP News Service|