HORNBACH Holding AG & Co. KGaA
/ Key word(s): Preliminary Results
Trading Statement 2022/23: HORNBACH Group increases sales by 6.6% to EUR 6.3 billion in FY 2022/23
1) Adjusted to exclude non-operating income and expenses.
2) Of which 169 HORNBACH DIY stores with garden centers and two BODENHAUS outlets.
3) Number of employees, including passive employment relationships, at balance sheet date on February 28.
Rounding up or down may lead to discrepancies between percentages and totals. Percentage figures calculated on basis of Euro 000s.
The HORNBACH Group (HORNBACH Holding AG & Co. KGaA Group; ISIN: DE0006083405) increased consolidated net sales in the financial year 2022/23 (March 1, 2022 to February 28, 2023) by 6.6% to EUR 6,263 million on the back of continued steady and strong underlying customer demand according to unaudited preliminary figures. In Q4 2022/23 (December 1, 2022 to February 28, 2023) sales grew by 6.1% to EUR 1,253 million. The largest operating subgroup, HORNBACH Baumarkt AG, which operates 171 locations and online stores in 9 European countries as of February 28, 2023 (previous year: 167 locations), increased its sales by 6.3% to EUR 5,843 million. On a like-for-like basis and net of currency effects, sales of HORNBACH Baumarkt AG rose by 3.6%. A 3-year like-for-like figure of +28.4% underscores the significant acceleration in growth during the Covid pandemic. As expected, online sales (including Click & Collect) continued to normalise from the higher levels that were achieved during the Covid pandemic and decreased by -12.8% to EUR 823 million (previous year: EUR 944 million). Sales efficiency once again showed a strong development with plus 2.7% and with sales of EUR 2,925 per square meter, HORNBACH Baumarkt AG is well ahead of competition. The HORNBACH Baustoff Union GmbH subgroup posted strong sales growth of 11.6% to EUR 421 million. HORNBACH Group’s preliminary adjusted EBIT (operating earnings adjusted to exclude non-operating earnings items) for FY 2022/23 came in as guided at approx. EUR 290 million, below the record figure reported for the previous year (EUR 362.6 million), however well above FY 2019/20 level with plus 28%.
“Amid geopolitical uncertainty, persistently high inflation and consumer sentiment reaching historic lows, the financial year 2022/23 has been very challenging for retail. However, demand for home improvement products remained on a high level with people continuing to prioritize investments in their homes”, said Albrecht Hornbach, CEO of HORNBACH Management AG. “Therefore, we remain confident in the resilience of our business and continue to invest in our people, our technology and in the expansion of our store network.”
Erich Harsch, CEO of the Hornbach Baumarkt AG, added: “We believe that do-it-yourself will play an important role in helping people to make their homes more sustainable, notably when it comes to energy efficient renovations. In challenging times people tend to turn to DIY simply to save money. Based on our broad and deep product range and stringent price leadership we are the retailer of choice for customers.”
Table 2: Like-for-like sales performance1) HORNBACH Baumarkt AG subgroup (in %)4)
4) Excluding currency items; including Bodenhaus and online sales.
5) GfK definition: DIY stores bigger than 1,000 sqm; Data available for Germany, Netherlands, Austria, Switzerland and Czech Republic.
About HORNBACH Group
HORNBACH Group is an independent, family-run retail group under the umbrella of HORNBACH Holding AG & Co. KGaA, which is listed on the Frankfurt Stock Exchange and represented in the SDAX. The largest subsidiary, HORNBACH Baumarkt AG, operates 171 DIY megastores with garden centers (incl. specialist stores) and online shops in nine European countries. The Group also includes HORNBACH Baustoff Union, a regional builders' merchant company with 39 locations in southwestern Germany and France, as well as HORNBACH Immobilien AG, which develops retail real estate for the Group. In the financial year 2022/23 (reporting date: February 28, 2023), the HORNBACH Group generated net sales of EUR 6.3 billion, making it one of the five largest DIY and garden retail companies in Europe. The Group has a workforce of more than 25,000 employees.
HORNBACH Holding on Linkedin
23.03.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
|Company:||HORNBACH Holding AG & Co. KGaA|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1589837|
|End of News||EQS News Service|
1589837 23.03.2023 CET/CEST