The hardware store and building materials group HORNBACH started the 2026/27 financial year with more sales.
BORNHEIM (dpa-AFX) – The group benefited above all from the good development of DIY and garden centers in other European countries, as it announced on Friday in Bornheim. However, HORNBACH Holding earned slightly less operationally than a year earlier due to increased costs. However, management believes the company is “on the right track” with regard to its annual forecast. This was well received by investors.
From the perspective of analyst Volker Bosse from Baader Bank, HORNBACH has had a mixed first quarter. Thanks to better foreign business compared to Germany, sales growth is solid and exceeds expectations. Gross profit also increased. Meanwhile, the lower adjusted operating result (EBIT) missed its estimate.
In the three months to the end of May, HORNBACH’s sales rose by almost five percent year-on-year to around two billion euros. Adjusted earnings before interest and taxes (EBIT) fell slightly by 0.5 percent to 161 million euros. The group cited increased personnel costs as the reason, primarily due to the opening of new stores as well as operating costs such as maintenance and IT infrastructure. The adjusted operating margin shrank from 8.5 to 8.0 percent.
The bottom line is that HORNBACH earned 99.8 million euros after third-party shares, 5.7 percent less than the year before. This is primarily due to higher interest expenses and negative currency effects, it said.
The group is sticking to its forecast for the current 2026/27 financial year. Management expects sales to remain at around the previous year’s figure of 6.4 billion euros or slightly above. He predicts a roughly stable result for the operating profit (EBIT) adjusted for special effects. In the last financial year, the company achieved an adjusted operating profit of almost 265 million euros.
The HORNBACH share temporarily gained 1.94 percent to 79.00 euros on XETRA.
BORNHEIM (dpa-AFX)
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