HORNBACH Baumarkt AG / Key word(s): Change in Forecast
Non-operating earnings items mainly involve impairments recognized pursuant to IAS 36 (Impairments). Based on the preliminary, as yet unaudited data, impairments rose significantly compared with the previous year.
The Hornbach Baumarkt AG Group increased its sales in the 2019/20 financial year by 8.1 % to more than Euro 4.4 billion. In its Trading Statement, due for publication on March 20, 2020, the HORNBACH Group will report separately and in further detail on its sales performance in the past 2019/20 financial year.
The updated earnings forecast for 2019/20 is subject to the proviso that no adjusting events requiring retrospective recognition in the annual financial statements arise as the corona crisis progresses.
Due to the corona pandemic, Hornbach has been ordered to temporarily close its stationary stores in several countries. The resultant negative impact on the company’s sales and earnings performance in the new 2020/21 financial year cannot be quantified at this point in time.
Details of the earnings performance in 2019/20 and an outlook for the 2020/21 financial year will be published at the Annual Results Press Conference of the Hornbach Group, which is scheduled to be held on May 27, 2020.
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:||1002449|
|End of Announcement||DGAP News Service|