HORNBACH Holding AG & Co. KGaA: Hornbach Group confirms FY 2022/23 sales guidance – FY adjusted EBIT expected to be below guidance due to ongoing macro challenges

Hornbach Group confirms FY 2022/23 sales guidance – FY adjusted EBIT expected to be below guidance due to ongoing macro challenges

Bornheim (Palatinate), June 13, 2022
Based on unaudited preliminary results, the management of Hornbach Holding AG & Co. KGaA (ISIN DE0006083405) expects Q1 2022/23 net sales (March 1, 2022 to May 31, 2022) to have increased by 8% to EUR 1,813 million in line with FY guidance given on May 17, 2022. Overall demand for construction and DIY products has remained steady in Q1.

However, the macroeconomic outlook and the challenges with regard to inflation, supply chain and product pricing have become further pronounced and persistent in the second quarter making visibility for the rest of the year more difficult. Given the ongoing margin pressure and in line with our conservative approach to guidance, the management of Hornbach Group believes it would be prudent to be cautious at this stage of the year. We therefore reduce our guidance with regard to the full-year adjusted EBIT from the previous level of slightly lower year on year and we are now expecting the adjusted EBIT level to decline around a low double digit percentage range, below the record number of EUR 362.6 million in FY 2021/22.

We will continue to monitor closely the key factors influencing profitability and manage the business accordingly.

The preliminary, unaudited figures for Q1 2022/23 are shown in the following table:

The final financial results for Q1 2022/23 will be published on June 29, 2022.

Explanations and reconciliations of the key financial figures used can be found on page 58 et seqq. of the Annual Report 2021/22 of the Hornbach Holding AG & Co. Group (available at http://www.hornbach-group.com/FinancialReports).