Ad-hoc announcement: First quarter significantly ahead of previous year – full-year forecast for 2017/2018 nevertheless unchanged (1)
Neustadt/Weinstrasse, June 9, 2017.
The HORNBACH Holding AG & Co. KGaA 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 7.1 % to Euro 1,196 million (previous year: Euro 1,116 million), while operating earnings (EBIT) for the same period showed clearly disproportionate growth of around 21 % to around Euro 92 million (previous year: Euro 76.5 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 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 Holding AG & Co. KGaA
Represented by HORNBACH Management AG
The Board of Management
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