Hornbach Holding AG & Co. KGaA / Key word(s): Quarter Results/Development of Sales
Based on initial preliminary figures, consolidated sales in the opening quarter increased by 17.8% to Euro 1,577 million (2019/20: Euro 1,338.4 million). Consolidated adjusted EBIT (operating earnings excluding non-operating earnings items*) rose by some 78% to around Euro 173 million (2019/20: Euro 96.9 million).
The substantial improvement in earnings was essentially driven by strong sales growth at the 160 DIY stores with garden centers operated by the Hornbach Baumarkt AG subgroup. In the course of the coronavirus crisis, demand from DIY customers in the stationary and online business has risen notably since mid-March, also benefiting from favorable spring weather in 2020. At plus 34%, the strongest sales growth was reported in May 2020, when all 64 of the Hornbach DIY stores and garden centers initially affected by official sales restrictions had been reopened (March 2020: minus 2%; April 2020: plus 17%).
The full-year outlook for 2020/21 published in the 2019/20 Annual Report is nevertheless unchanged for now. In this respect, the Board of Management points to the considerable and hardly predictable macroeconomic risks to the company's business performance looking forward due to the coronavirus crisis. From a current perspective, it still deems it likely that consolidated sales for the 2020/21 financial year as whole will approximately match the level reported for the 2019/20 financial year (Euro 4.7 billion) and that consolidated adjusted earnings (adjusted EBIT) will fall slightly short of the previous year's figure (Euro 227.0 million).
The definitive figures for the first quarter of 2020/21 will be published in the Quarterly Statement on June 26, 2020.
* In Q1 2020/21, non-operating income amounted to Euro 0.6 million (Q1 2019/20: no non-operating items).
Group Communications and Investor Relations Director
HORNBACH Holding AG & Co. KGaA
Tel. +49 (0) 6348 602444
09-Jun-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|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|
|EQS News ID:||1066623|
|End of Announcement||DGAP News Service|
1066623 09-Jun-2020 CET/CEST