Hornbach Holding AG & Co. KGaA / Key word(s): Change in Forecast
09.12.2015 17:43
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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HORNBACH Group reduces earnings target
Neustadt a. d. Weinstrasse, December 9, 2015.
The Board of Management has updated the earnings expectations for the
HORNBACH Holding AG & Co. KGaA Group for the 2015/2016 financial year
(March 1, 2015 to February 29, 2016) to account for an unsatisfactory
third-quarter earnings performance at the HORNBACH Baumarkt AG subgroup.
Although the HORNBACH Group increased its consolidated sales for the period
from September to November 2015 by 5.7% to EUR 926 million, based on
initial preliminary figures consolidated operating earnings (EBIT) for the
same period fell year-on-year by around 43% to EUR 21.3 million (2014/2015:
EUR 37.2 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 165.1 million.
The Board of Management sees the target corridor for sales growth at the
HORNBACH Holding AG & Co. KGaA 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 Holding AG & Co. KGaA
represented by HORNBACH Management 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,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Hornbach Holding AG & Co. KGaA
Le Quartier Hornbach 19
67433 Neustadt an der Weinstraße
Germany
Phone:
Fax:
E-mail:
Internet:
ISIN: DE0006083405
WKN: 608340
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart
End of Announcement DGAP News-Service
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