DGAP-News: Hornbach Holding AG: Hornbach pursues previous year's record
(firmenpresse) - DGAP-News: Hornbach Holding AG / Key word(s): Quarter Results
Hornbach Holding AG: Hornbach pursues previous year's record
28.06.2012 / 07:00
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Figures published for first quarter of 2012/2013
Hornbach pursues previous year's record
At Euro 919 million, consolidated sales in Q1 match previous year's record
/ German project customers still account for above-average demand / Solid
earnings situation / New store opening in Sweden / Sales and earnings
forecast confirmed
Neustadt a. d. Weinstrasse, June 28, 2012. The Hornbach Group (Hornbach
Holding AG Group) successfully tracked down the previous year's record
level of sales in the first quarter of 2012/2013. Despite poor April
weather and fewer shopping days, consolidated sales showed slight growth of
0.1% to Euro 918.8 million in the period from March to May 2012, thus
matching the record figure posted for the first quarter of the previous
year (Euro 918.1 million).
Supported by the strong performance of the German construction sector,
domestic project customers continue to account for the greatest demand at
the DIY megastores with garden centers operated by Hornbach-Baumarkt-AG.
Following one new store opening in Sweden in May 2012, this subgroup now
has a total of 135 outlets in nine countries across Europe. Sales at the 24
builders' merchants outlets at the Hornbach Baustoff Union GmbH subgroup
also virtually matched the previous year's figure.
'The standard to beat was extremely high in the first quarter of 2012/2013.
One year earlier, more favorable seasonal conditions enabled the Hornbach
Group to boost its sales by 11 %. In Germany, our DIY megastores with
garden centers posted like-for-like sales growth of 12 % - the highest jump
in sales since our IPO in 1993. The fact we managed to match this record
level with fewer business days in the current year is a great achievement',
commented Albrecht Hornbach, Chairman of the Board of Management of
Hornbach Holding AG at the presentation of the quarterly results.
Sales at Hornbach-Baumarkt-AG, the largest operating subgroup, improved by
0.2 % to Euro 865.1 million in the period under report (previous year: Euro
863.7 million). 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
the subgroup's sales were 1.1 % down on the previous year. Including
currency items, this downturn reduced to 0.9%.
As in the previous year, the German Hornbach stores posted sales of Euro
504 million, with like-for-like sales also matching the previous year's
figure. Other European countries reported slight sales growth of 0.6 % to
Euro 361 million. Due to the difficult macroeconomic framework outside
Germany, sales in the international business excluding newly opened stores
and currency items decreased by 2.4%.
Albrecht Hornbach added that it was pleasing to see that the negative
sales trend in Eastern Europe had slowed down noticeably in recent months.
'Having marked time for a longer period, the stores in Romania in
particular have reported sales growth once again for the first time, and
that even excluding sales at new stores.'
Hornbach Baustoff Union GmbH also faced an ambitious basis for comparison,
given the sharp rise in sales by almost 16 % to Euro 54 million in the
previous year's period. With sales of Euro 53 million in the first quarter
of 2012/2013, the builders' merchant subgroup nevertheless almost matched
the previous year's figure.
Given the challenging base effects in the previous year's quarter, Hornbach
views the company's earnings performance in the first quarter of 2012/2013
as a success. Operating earnings (EBIT) at the Hornbach Group fell by 4.9%
to Euro 75.4 million in the first quarter (previous year: Euro 79.3
million). Earnings per preference share are reported at Euro 2.34 (previous
year: Euro 2.45). The Hornbach-Baumarkt-AG subgroup, also publicly listed,
reported EBIT of Euro 62.3 million (previous year: Euro 67.2 million) and
earnings per Baumarkt share of Euro 1.29 (previous year: Euro 1.38). The
full-year sales and earnings forecast (balance sheet date: February 28,
2013) has been confirmed. Accordingly, the Hornbach Group expects to
generate sales growth in a medium single-digit percentage range and EBIT
slightly in excess of the level reported for the 2011/2012 financial year
(Euro 169 million).
Note: The extensive interim reports of Hornbach Holding AG and
Hornbach-Baumarkt-AG can be downloaded from the internet at:
www.hornbach-group.com/reports.
Key figures for 1st quarter at a glance
Key figures of the HORNBACH HOLDING AG 1st 1st Change
Group Quarter Quarter
(in EUR million, unless otherwise stated) 2012/2013 2011/2012 %
Net sales 918.8 918.1 0.1
of which: Hornbach-Baumarkt-AG subgroup 865.1 863.7 0.2
of which: Hornbach Baustoff Union GmbH
subgroup 53.2 54.0 -1.4
of which: in other European countries 361.4 359.4 0.6
Like-for-like sales growth (DIY) 1) -1.1% 7.7%
Gross margin (as % of net sales) 37.5% 36.9%
EBIT 75.4 79.3 -4.9
Earnings per preference share (EUR) 2.34 2.45 -4.5
Investments 32.7 58.1 -43.7
Misc. key figures of the HORNBACH May 31, February 29, Change1) currency-adjusted
HOLDING AG Group 2012 2012
(in EUR million, unless otherwise %
stated)
Shareholders' equity as % of total
assets 45.0% 45.9%
Number of DIY stores 135 134
Sales area of DIY stores in 000 m²(based on BHB) 1,563 1,549 0.9
Number of employees 14,476 14,320 1.1
Rounding up or down may lead to discrepancies between percentages and
totals. Calculation of percentage figures based on Euro 000s.
End of Corporate News
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Language: English
Company: Hornbach Holding AG
Le Quartier Hornbach 19
67433 Neustadt an der Weinstraße
Germany
ISIN: DE0006083439
WKN: 608343
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
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