Business figures - Hornbach DIY group dampens expectations
Customers' reluctance to spend is making DIY group Hornbach Holding more pessimistic for this financial year. Sales in the twelve months to the end of February are likely to fall slightly short of the previous year's figure of just under 6.3 billion euros, as the company announced on Wednesday. The operating profit adjusted for special items (adjusted EBIT) is likely to land at the lower end of the target range lowered in September. At that time, CEO Albrecht Hornbach had announced a decline of 10 to 25 percent - to around 218 million to 261 million euros.
In the third quarter (to the end of November), sales shrank by four percent year-on-year to just under 4.9 billion euros. Adjusted operating profit fell by just under two percent to 48.1 million euros. On the bottom line, however, the company earned 29.3 million euros, around ten percent more than in the previous year. Despite everything, Group CEO Hornbach expressed his satisfaction: Times of crisis are good times for DIY enthusiasts and Hornbach has further expanded its market share outside Germany.
Press release
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- Despite the challenges in the retail trade sector in Germany, many individuals still have a strong desire to buy DIY products, which is beneficial for businesses like Hornbach.
- During the last financial year, Hornbach DIY group, despite the anticipated decrease in sales, managed to increase its market share outside Germany, showcasing the resilience of its retail business.
- The quarterly figures for Hornbach in the retail trade sector, including the third quarter, demonstrate a mix of positive and negative trends, with a decrease in sales yet an increase in the bottom line profit.
- In light of the financial year performance, analysts are closely monitoring the business figures of Hornbach, particularly in the retail trade sector, to gauge its impact on the company's overall financial standing.
- Hornbach's influence in the retail trade market doesn't just extend to its home market, Germany; it has also made a strong impact in other countries, attributing to a portion of its significant turnover during the financial year.
Source: www.stern.de
