Ad-hoc announcement: First quarter significantly ahead of previous year – full-year forecast for 2017/2018 nevertheless unchanged (2)
Bornheim bei Landau, June 9, 2017.
The HORNBACH Baumarkt AG Group significantly improved its earnings performance compared with the previous year in the first quarter (Q1) of the 2017/2018 financial year (March 1 to May 31, 2017). The Group’s net sales rose by 6.7 % to Euro 1,130 million (previous year: Euro 1,059 million), while operating earnings (EBIT) for the same period showed clearly disproportionate growth of around 26 % to around Euro 77 million (previous year: Euro 61.5 million).
The very pleasing earnings performance in Q1 2017/2018 was attributable in particular to like-for-like sales growth accompanied by a disproportionate increase in gross profit. Furthermore, EBIT benefited from more favorable cost ratios overall.
The Board of Management is nevertheless not amending the full-year sales and earnings forecast for 2017/2018. In particular, it expects higher store and administration expenses in the three subsequent quarters of the 2017/2018 financial year.
Accordingly, the sales forecast still provides for growth in a medium single-digit percentage range in the sales of the HORNBACH Baumarkt AG Group in the 2017/2018 financial year. With regard to the earnings forecast, the company still expects its EBIT to slightly exceed and its adjusted EBIT to roughly match the respective figures for the 2016/2017 financial year.
Further details about the Group’s sales and earnings performance will be published in the Quarterly Statement for the First Quarter of 2017/2018 on June 30, 2017 (www.hornbach-group.com).
HORNBACH Baumarkt AG
The Board of Management
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Managers Transactions: Hornbach Baumarkt AG // Albrecht Hornbach
Directors Dealings: Hornbach Holding AG & Co. KGaA // Albrecht Hornbach
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