Hornbach Holding Aktiengesellschaft / Key word(s): Quarter Results/Development of Sales
Hornbach begins 2015/2016 financial year on successful note
Interim report for 1st quarter: Despite record growth in previous year, consolidated sales rise a further 1.6 percent to Euro 1,052 million / Like-for-like sales almost match previous year's figure / As expected, substantial base effects lead earnings to fall short of high figures for 1st quarter of 2014/2015
Neustadt a. d. Weinstrasse, June 26, 2015.
Group CFO Roland Pelka is very satisfied with the company's performance in the first three months of the 2015/2016 financial year. "Given a 16 percent jump in sales, the standard set in the previous year's quarter was extremely high. We managed to generate further growth, and that despite the lower number of business days this year." Sales for the first quarter of 2015/2016 include two stores newly opened in Saarbrucken (replacement location) and Regau (Austria). As of May 31, 2015, Hornbach operated a group-wide total of 147 DIY retail outlets (February 28, 2015: 146), of which 97 stores in Germany and 50 in other European countries.
On a like-for-like basis, i.e. excluding sales at stores newly opened or closed in the past twelve months, and net of currency items, consolidated sales for the first quarter fell 1.1 percent, and thus only marginally short of the level achieved in the previous year's quarter. Including currency items, the Group even generated like-for-like growth of 0.3 percent.
Sales at Hornbach's stores in its home market showed slight growth of 0.2 percent to Euro 575.7 million (2014/2015: Euro 574.5 million), compared with growth of 20.0 percent one year earlier. On a like-for-like basis and given two business days fewer than in the previous year's period, domestic sales dropped slightly by 2.4 percent (2014/2015: plus 19.4 percent). Based on the company's own figures, Hornbach thus significantly outperformed the sector average in Germany once more and gained further market share (2014: 11 percent).
Outside Germany, in the first quarter of 2015/2016 Hornbach maintained the positive sales trend already initiated in the past financial year. Including recent new store openings, sales in other European countries, where our DIY business activities in eight countries outside Germany are pooled, grew by 4.3 percent to Euro 419.6 million (2014/2015: Euro 402.1 million). The international share of sales at the Hornbach-Baumarkt-AG subgroup increased from 41.2 percent to 42.2 percent. Like-for-like sales in other European countries grew by 0.7 percent net of currency items (2014/2015: plus 8.2 percent) and by 4.0 percent including currency items (2014/2015: plus 6.7 percent).
The Hornbach Baustoff Union GmbH (HBU) subgroup also maintained its ground well in the first quarter of 2015/2016 compared with the very high standard set in the previous year. Having surged by 10.1 percent to Euro 58.0 million in the previous year, builders' merchant sales fell by 2.8 percent to Euro 56.4 million in the period under report. Following the opening of one new outlet and measures taken to optimize the location network, HBU is currently operating 24 builders' merchant outlets in south-western Germany and two locations close to the border in France (Lorraine).
As expected, earnings fall short of previous year's record figures
Note: The extensive interim reports of Hornbach Holding AG and Hornbach-Baumarkt-AG can be downloaded from the Investor Relations section of the company's homepage at: http://www.hornbach-group.com/reports.
Key Figures of the Hornbach Group for the 1st Quarter at a Glance
1) Previous year's figures adjusted due to IFRIC 21; please see Note 1 in the notes to the interim report for the first quarter of 2015/2016.
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|Company:||Hornbach Holding Aktiengesellschaft|
|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|
|End of News||DGAP News-Service|