Equity Story of the HORNBACH Group
The overall HORNBACH Holding AG & Co. KGaA Group (“HORNBACH Group”) comprises the HORNBACH Baumarkt AG, the largest operating subgroup, at which Do-It-Yourself (DIY) retail with DIY megastores and garden centers across Europe and DIY online retail are pooled, as well as the HORNBACH Baustoff Union GmbH (regional builders’ merchants) and HORNBACH Immobilien AG (real estate and location development) subgroups. Both HORNBACH Holding AG & Co. KGaA and HORNBACH Baumarkt AG are publicly listed corporations. The shares of both companies are listed in the Prime Standard of the German Stock Exchange. HORNBACH Holding AG & Co. KGaA is a member of the SDAX.
An investment in the HORNBACH Group is an investment in a long-established family company with a history stretching back 140 years. Not only that, HORNBACH has considerable further growth potential. This expectation is supported by the following factors:
- Organic growth strategy: As a general rule, HORNBACH avoids taking over locations from third parties. The Group rather develops its locations itself.
- HORNBACH’s homogenous store network of DIY megastores with garden centers enables it to generate benefits of scale (fixed cost degression)
- Real estate strategy as competitive advantage: Most of the real estate used for operations is owned by the HORNBACH Group – a top-quality strategic and financial reserve for further growth
- Interconnected-Retail-Strategy: Stationary retail linked with online shop
- Germany’s top DIY player in terms of productivity – “sales per store” and “sales per square meter of retail surface”
- Project concept differentiates HORNBACH from its competitors
- Surveys award HORNBACH top positions when it comes to customer satisfaction. One example is “Kundenmonitor Deutschland”, one of the most prestigious consumer surveys for the German retail sector
- Strong financial resources, public corporate rating and flexibility when it comes to refinancing the company via the capital market
- Risks from economic developments in the German market have been diversified by expanding into other European countries (currently with locations in Austria, the Czech Republic, Luxembourg, the Netherlands, Romania, Slovakia, Sweden, and Switzerland)
- Sustainable dividend policy
Voting Rights Announcement: Hornbach Holding AG & Co. KGaA // Schwarzman [First Eagle Investment Management]
Voting Rights Announcement: Hornbach Holding AG & Co. KGaA // Jayanti [First Eagle Investment Management]