Hornbach Group shows consistent growth>
Hornbach Group shows consistent growth
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ Pleasing start to 2009/2010 financial year- Consolidated sales growth of 5.4 percent in 1st quarter- German stores post like-for-like growth of 3.1 percent andcontribute substantiallyto pleasing business performance - Like-for-like growth of 1.5percent at Group- No real estate transactions - unlike in 1st quarter of previousyear- Pleasing operating earnings performance - adjusted EBIT rises by5.8 percent- Forecast confirmedBornheim bei Landau, July 2, 2009. The Hornbach Group, one ofEurope's largestoperators of DIY stores and garden centers, can report a successfulstart to the 2009/2010 financial year. Despite the ongoingunfavorable macroeconomic framework, the Group increased both itssales and its operating earnings adjusted for one-off items in theprevious year. In the first quarter (March 1 to May 31, 2009), thenet sales of Hornbach Holding AG thus rose by 5.4 percent to ? 819.8million (previous year: ? 777.7m). Sales at Hornbach-Baumarkt-AG, thelargest operating subgroup, rose by 4.8 percent to ? 774.8 million(previous year: ? 739.2m). Like-for-like sales (excluding newlyopened stores) improved by 1.5 percent across the Group. Thisdevelopment was chiefly due to the pleasing growth momentum seen inGermany, where the DIY stores with garden centers reported growth of3.1 percent. Hornbach's stores in other European countries virtuallymaintained their level of like-for-like sales."In view of the ongoing difficult economic climate, we are verysatisfied with the results for the first quarter", commented AlbrechtHornbach, Chairman of the Board of Management of Hornbach Holding AG."We attribute this positive performance not least to our clearprofile as the DIY store for projects in Europe and as an innovationleader in the sector." The first-class quality of the company'sproduct ranges, its professional advice and consistent permanent lowprice policy with no discount campaigns were appreciated by DIYenthusiasts and professional tradesmen alike. In most regions whereHornbach operates, demand for building, home improvement and gardenproducts and services had so far not been impeded by macroeconomicuncertainties, or only to a marginal extent.Adjusted operating earnings boosted by 5.8 percentIn line with expectations, due to a base effect involvingnon-operating real estate gains in the previous year the earnings ofthe Hornbach Group fell short of the figures for the equivalentquarter in the previous year. Operating earnings (EBIT) reduced by11.3 percent to ? 59.6 million (? 67.2m). Consolidated earningsbefore taxes dropped by 13.9 percent to ? 50.4 million. Basicearnings per preference share were reported at ? 3.72 (previous year:? 4.87). Following adjustment for net non-operating earnings items of? 10.8 million, however, the Group's earnings performance in thefirst three months of the current financial year was neverthelesspleasing. Adjusted operating earnings thus improved by 5.8 percent.The company's consistent sales and earnings growth is particularlyapparent in the quarterly figures of Hornbach-Baumarkt-AG, the mostimportant operating subsidiary, as no non-operating real estate gainswere generated here in the previous year either. Net sales at theHornbach-Baumarkt-AG subgroup rose by 4.8 percent to ? 774.8 million(previous year: ? 739.2m), while operating earnings (EBIT) grew by2.0 percent to ? 49.6 million (previous year: ? 48.6m). Net incomefor the period increased by 4.0 percent to ? 33.1 million (previousyear: ? 31.8m). Basic earnings per Baumarkt share amounted to ? 2.10(previous year: ? 2.03).Hornbach continues to act as a guarantor of safe jobs, even indifficult times. In contrast to the overall trend, the number ofemployees across the Group rose by 0.7 percent to 13,262.The Hornbach Group invested a total of ? 38.8 million in the firstthree months of the current financial year (previous year: ? 35.2m).Of these funds, around 72 percent were invested in land andbuildings, while the remainder was mainly channeled into plant andoffice equipment. Investments were financed in full from theoperating cash flow of ? 105.1 million (previous year: ? 116.7m).Shareholders' equity at the Hornbach Holding AG Group improved by5.1 percent to ? 820.5 million (February 28, 2009: ? 780.5m), whilethe equity ratio continued to amount to a pleasing 39 percent.Hornbach currently operates 130 DIY megastores with garden centersacross nine European countries. The average store size is in excessof 11,000 m². There are 92 stores in Germany, while the internationalstores are located in Austria (11), the Netherlands (8), the CzechRepublic (6), Switzerland (4), Sweden (3), Slovakia (2), Romania (3),and Luxembourg (1).Cautious optimism for the 2009/2010 financial year as a wholeHornbach will maintain its course of expansion even in the currentcrisis. Two new store openings are planned for the current financialyear. The third Hornbach store in Romania was already opened inBrasov in March. The fifth store in Switzerland is expected to beopened in Galgenen in the Zurich area in the fourth quarter(December 1, 2009 to February 28, 2010). All in all, Hornbach expectsto generate sales growth in a low to medium single-digit percentagerange both on the level of the overall Group and of theHornbach-Baumarkt-AG subgroup in the current financial year."We expect our DIY stores with garden centers in Germany to continueto outperform the sector average in terms of like-for-like sales,"added Albrecht Hornbach. Sales at the Hornbach Baustoff Union GmbHsubgroup should also outperform the builders' merchant segment inGermany. In other European countries, Hornbach expects the widespreaddistribution of risks across its European DIY store network to enablereductions in sales in specific regions to be compensated for atleast in part by sales growth in other regions.Due mainly to significantly lower earnings in the real estatesegment, operating earnings (EBIT) at the overall Hornbach Holding AGGroup for the 2009/2010 financial year as a whole will fallsignificantly short of the previous year's figure, but arenevertheless expected toexceed the EBIT posted for the 2007/2008 financial year (? 105.5m).Hornbach campaign wins award at Cannes as wellHornbach consistently focuses on its "project customer" target group.This is also true of the company's advertising, which presents keythemes succinctly and unmistakably. The campaign "If you can imagineit, you can also build it" was awarded a Silver Lion at theadvertising festival held in Cannes at the end of June. This is thefirst time that a German company has won one of the coveted awards inthe supreme discipline in the competition, the Integrated Lions. Thecampaign had already received numerous awards previously, includingone from the Art Directors Club. "That this motto should be singledout is at the same time also a great compliment to our projectcustomers, who form the focal point of our concept," commented JürgenSchröcker, Chief Marketing Officer.The most important key figures can be found below. The extensiveinterim reports of Hornbach Holding AG and Hornbach-Baumarkt-AG havebeen published in the investor relations section of the internet siteof the Hornbach Group at www.hornbach-group.de.Overview of Key Figures for the 1st Quarter (March 1 to May 31)Key Figures at the HORNBACH HOLDING 1st Quarter 1st Quarter ChangeAG Group(in ? million unless otherwise 2009/2010 2008/2009 in %stated)Net sales 819.8 777.7 5.4of which in other European countries 312.6 294.6 6.1Like-for-like sales growth (DIY) 1.5% 1.5%Gross margin (as % of net sales) 36.2% 36.1%EBITDA 77.1 84.4 -8.6EBIT* 59.6 67.2 -11.3Consolidated earnings before taxes 50.4 58.5 -13.9Net income for the period** 37.1 45.9 -19.3Earnings per preference share (in ?) 3.72 4.87 -23.6Investments 38.8 35.2 10.2Misc. Key Figures at the HORNBACH May 31, 2009 Feb. 28, 2009 ChangeHOLDING AG Group(in ? million unless otherwise in %stated)Total assets 2,103.2 1,995.8 5.4Shareholders' equity 820.5 780.5 5.1Shareholders' equity as % of totalassets 39.0% 39.1%Number of employees 13,262 13,169 0.7* includes non-operating earnings components from the real estatesegment. Net non-operating accounting gains of ? 10.7 million werereported in the first quarter of the previous year, while in linewith the budget no disposal gains were generated on real estatetransactions in the first quarter of 2009/2010. Following adjustmentfor non-operating earnings items, operating EBIT improved by 5.8percent.** including minority interests pursuant to IFRS.Key Figures at the 1st Quarter of 1st Quarter of ChangeHORNBACH-Baumarkt-AG Subgroup(in ? million unless otherwise 2009/2010 2008/2009 in %stated)Net sales 774.8 739.2 4.8of which in other Europeancountries 312.6 294.5 6.1Like-for-like sales growth 1.5% 1.5%Gross margin (as % of net sales) 36.8% 36.7%EBITDA 63.2 62.4 1.3EBIT 49.6 48.6 2.0Consolidated earnings beforetaxes 44.4 43.6 1.8Net income for the period 33.1 31.8 4.0Basic earnings per share (in ?) 2.10 2.03 3.4Investments 27.4 12.8 113.6Misc. Key Figures at the May 31, 2009 Feb. 28, 2009 ChangeHORNBACH-Baumarkt-AG Subgroup(in ? million unless otherwise in %stated)Total assets 1,518.7 1,425.2 6.6Shareholders' equity 625.8 591.3 5.8Shareholders' equity as % of totalassets 41.2% 41.5%Number of stores 130 129 0.8Sales area in 000 m² (based on BHB) 1,464 1,447 1.2Number of employees 12,679 12,576 0.8Rounding up or down may lead to discrepancies between percentages andtotals. Calculation of percentage figures based on ? 000s.http://hugin.info/130429/R/1326582/312247.pdfhttp://hugin.info/130429/R/1326582/312248.pdfhttp://hugin.info/130429/R/1326582/312250.pdf --- End of Message ---HORNBACH HOLDING AGLe Quartier Hornbach 19 Neustadt an den Weinstraÿe GermanyWKN: 608343; ISIN: DE0006083439 ; Index: CDAX, Prime All Share;Listed: Prime Standard in Frankfurter Wertpapierbörse, Regulierter Markt in Frankfurter Wertpapierbörse;
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
" alt="MorphoSys and the University of Melbourne File New Patent
Applications in MOR103 Program>
">
" alt="Schibsted ASA (SCH) - Mandatory Notification of Trade>
">
Datum: 02.07.2009 - 01:01 Uhr
Sprache: Deutsch
News-ID 1002268
Anzahl Zeichen: 0
contact information:
Contact person:
Town:
London
Phone:
Kategorie:
Business News
Anmerkungen:
Diese Pressemitteilung wurde bisher 146 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Hornbach Group shows consistent growth>
"
steht unter der journalistisch-redaktionellen Verantwortung von
HORNBACH HOLDING AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
