HORNBACH Baumarkt AG / Key word(s): Change in Forecast
09.12.2015 17:40
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
HORNBACH Baumarkt AG reduces earnings target
Bornheim bei Landau, December 9, 2015.
The Board of Management of HORNBACH Baumarkt AG has updated the company’s
expected earnings for the current 2015/2016 financial year (March 1, 2015
to February 29, 2016) to account for an unsatisfactory third-quarter
earnings performance.
Although the Group increased its consolidated sales for the period from
September to November 2015 by 5.9% to EUR 863 million, based on initial
preliminary figures consolidated operating earnings (EBIT) for the same
period fell year-on-year by around 74% to EUR 5.0 million (2014/2015: EUR
19.4 million). This severe downturn in quarterly earnings related above all
to the DIY store business in Germany. Despite sales remaining virtually
unchanged on the previous year, the earnings performance here was adversely
affected by higher costs and a lower gross margin.
Given this development, full-year consolidated operating earnings (EBIT)
for the 2015/2016 financial year are now no longer expected to roughly
match the level reported for the 2014/2015 financial year but rather to
fall short of the previous year’s figure of EUR 109.8 million.
The Board of Management sees the target corridor for sales growth at the
HORNBACH Baumarkt AG Group, namely of generating sales growth in a medium
single-digit percentage range, as unchanged.
Further details will be released upon publication of the interim report for
the first nine months of 2015/2016 on December 21, 2015
(www.hornbach-group.com).
HORNBACH Baumarkt AG
The Board of Management
Contact:
Axel Müller
Investor Relations
Tel. +49-6348-60 2444
axel.mueller@hornbach.com
09.12.2015 The DGAP Distribution Services include Regulatory Announcements,
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Language: English
Company: HORNBACH Baumarkt AG
Hornbachstraße
76878 Bornheim bei Landau/Pfalz
Germany
Phone: +49 (0)6348 / 60 00
Fax: +49 (0)6348 / 60 40 00
E-mail: info@hornbach.de
Internet: www.hornbach.de
ISIN: DE0006084403
WKN: 608440
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart
End of Announcement DGAP News-Service
