DGAP-News: Hornbach Holding AG & Co. KGaA / Key word(s): 9-month figures/Quarterly / Interim Statement
Pleasing third quarter takes Hornbach Group's nine-months earnings ahead of previous year
Consolidated sales up 5.9% to around Euro 3.2 billion in first nine months / DIY stores with like-for-like growth of 4.0% - Builders' merchant sales up 4.6% / Nine-month operating earnings (EBIT) rise 5.7% to Euro 182.3 million / Disproportionate earnings growth in third quarter
Neustadt a. d. Weinstrasse, December 22, 2016.
"We boosted our earnings strength once again in the third quarter of 2016/2017 compared with the previous year. Our sales growth was very pleasing in this year's fall season, and that both in Germany and other European countries. An increasing share of this success is also due to our online activities", commented Albrecht Hornbach, Chairman of the Board of Management of Hornbach Management AG.
According to Albrecht Hornbach, the third-quarter earnings growth was also due to a high level of cost awareness at the Group. Overall, the Hornbach Group's store, pre-opening, and administration expenses grew less rapidly than sales in both the third quarter and the nine-month period. "And we achieved this while continuing to channel substantial funds into the increasing digitization of our business model", stressed Hornbach. He is convinced that "our interconnected retail strategy, i.e. the smart dovetailing of stationary and online businesses, is the key to sustainable success."
DIY stores with garden centers increase nine-month sales by 6.0%
The Hornbach stores outside Germany continue to report the highest sales growth. Like-for-like sales in the international business added 3.9% to the already high previous year's figure in the third quarter and rose by 6.1% in the nine-month period. In Germany, the like-for-like sales growth of 2.2% in the third quarter and 2.4% in the nine-month period was in line with the first six months. Cumulative nine-month EBIT at this subgroup grew by 4.5% to Euro 133.0 million (2015/2016: Euro 127.3 million).
The Hornbach Baustoff Union GmbH (HBU) subgroup, which is even more closely aligned to the needs of professional construction customers than the Hornbach Baumarkt AG subgroup, increased its net sales for the third quarter of 2016/2017 by 8.4% to Euro 67.4 million (2015/2016: Euro 62.2 million). Nine-month sales rose by 4.6% to Euro 190.7 million (2015/2016: Euro 182.4 million), while EBIT showed slightly disproportionate growth of 5.0% to Euro 8.7 million (2015/2016: Euro 8.3 million).
When presenting the nine-month results, the Board of Management also confirmed the full-year sales and earnings forecasts for 2016/2017. Accordingly, both the Hornbach Group and the Hornbach Baumarkt AG subgroup are still expected to achieve sales growth in a medium single-digit percentage range. Excluding non-operating income and expenses, EBIT is expected to match the previous year's level (Euro 99.3 million) at the Hornbach Baumarkt AG subgroup and to match or slightly exceed the figure for the 2015/2016 financial year (Euro 151.2 million) at the overall Hornbach Holding Group.
Key Figures of the Hornbach Group for the 3rd Quarter and First Nine Months at a Glance
Rounding up or down may lead to discrepancies between percentages and totals. Calculation of percentage figures based on Euro 000s.
22.12.2016 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||Hornbach Holding AG & Co. KGaA|
|Le Quartier Hornbach 19|
|67433 Neustadt an der Weinstraße|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|