DGAP-News: Hornbach Holding AG & Co. KGaA / Keyword (s): Half-year report
30.09.2021 / 07:00
The issuer is solely responsible for the content of this advertisement.

Hornbach Group Maintains Profitable Growth in H1 2021/22 – Sales and Profits Continue at Record Highs

– Strong customer demand for DIY products continued in the second year of the pandemic: half-year consolidated sales increased 5.1% to 3.3 billion euros

– Increased market share in key country markets – Like-for-like growth in Germany continues to be well above industry average

– Online sales increase by 48% to 593 million euros in the first half – Online activities now represent 19.2% of total sales (2020/21: 13.6%)

– At 337.2 million euros, Adjusted EBIT breaks previous year’s record – Profitability remains well above pre-pandemic levels

– Forecasts for the year 2021/22 confirmed and specified in more detail: the Hornbach group forecasts an adjusted EBIT in the upper third of the corridor of 290 million euros to 326 million euros

Key figures of the Hornbach group for the 2sd Quarter and 1st A look at the semester

2sd Trimester

2sd Trimester

±

(in millions of euros, unless otherwise indicated)

2021/22

2020/21

in %

Hornbach group net sales

1 614.3

1,555.1

3.8

Net sales of the Hornbach Baumarkt AG subgroup

1509.4

1,456.8

3.6

of which in Germany

764.8

748.6

2.2

of which in other European countries

744.6

708.2

5.1

Sales growth at constant scope (DIY)

2.5%

21.4%

of which in Germany

1.7%

24.1%

of which in other European countries

3.4%

18.6%

Net sales of the Hornbach Baustoff Union GmbH subgroup

104.6

97.9

6.8

Gross margin (as a% of net sales)

35.4%

35.2%

BAII

168.1

162.2

3.6

Adjusted EBIT1)

168.1

161.9

3.8

of which Hornbach Baumarkt AG sub-group

150.5

147.0

2.4

Consolidated profit before taxes

155.4

150.3

3.4

Consolidated net income before minority interests

118.4

112.0

5.7

Earnings per Hornbach Holding share (basic / diluted in €)

5.85

5.51

6.2

Investments

101.9

37.5

> 100

1st Half

1st Half

±

(in millions of euros, unless otherwise indicated)

2021/22

2020/21

in %

Hornbach group net sales

3 292.4

3 132.2

5.1

Net sales of the Hornbach Baumarkt AG subgroup

3,085.2

2,949.0

4.6

of which in Germany

1,579.7

1,557.0

1.5

of which in other European countries

1505.5

1391.9

8.2

Sales growth at constant scope (DIY)

3.4%

19.4%

of which in Germany

0.7%

24.3%

of which in other European countries

6.4%

14.4%

Net sales of the Hornbach Baustoff Union GmbH subgroup

206.5

182.4

13.2

Gross margin (as a% of net sales)

35.4%

35.6%

BAII

337.2

335.6

0.5

Adjusted EBIT1)

337.2

334.7

0.7

of which Hornbach Baumarkt AG sub-group

304.3

307.0

-0.9

Consolidated profit before taxes

312.9

313.5

-0.2

Consolidated net income before minority interests

236.4

235.0

0.6

Earnings per Hornbach Holding share (basic / diluted in €)

11.69

11.57

1.0

Investments

156.9

64.7

> 100

Miscellaneous Key figures: Hornbach Holding AG & Co. KGaA Group

August 31, 2021

February 28, 2021

± in%

Equity as% of total assets

46.7%

44.2%

Number of retail stores2)

165

163

1.2

Sales area in 000 m² (base BHB)

1941

1,918

1.2

Number of employees

24 285

23,279

4.3

Rounding up or down may result in discrepancies between percentages and totals. Calculation of percentages on the basis of thousands of euros.
1) Adjusted to exclude non-operating income and expenses
2) including two Bodenhaus specialist stores

Bornheim, September 30, 2021.
The Hornbach group (Hornbach Holding AG & Co. KGaA Group) maintained its profitable growth course in the first half of 2021/22 (from March 1 to August 31, 2021) and gained additional market share in the countries where it operates. Consolidated turnover in the first six months increased by 5.1% to 3,292.4 million euros (2020/21: 3,132.2 million euros). Thanks to this good business performance and second quarter profit growth, the Hornbach Group adjusted consolidated operating profit (adjusted EBIT) exceeded the previous year’s record in the first half. Based on this strong first half performance, full-year revenue and adjusted EBIT are now expected to reach the midpoint of the forecast range.

“Our half-year results clearly show that consumers continue to care deeply about making their homes attractive and safe. Customer demand for construction and DIY products remained high during the summer months, although the weather was very volatile and consumers started to travel a lot more again. . We increased our sales by an additional 5.1% in the first half of 2021/22 and our adjusted EBIT broke the previous year’s record. All of this underlines the performance capability of our Interconnected Retail (ICR) approach, ”commented Albrecht Hornbach, CEO of Hornbach Management AG. “Thanks to the ICR, Hornbach significantly outperformed the industry average in Germany and other major national markets, especially during the difficult period of the pandemic in the first half of the calendar year, and gained further shares Steps

Hornbach Baumarkt AG, the largest operating subgroup (DIY retail) which operated a total of 165 locations and online stores in nine European countries as of August 31, 2021, increased its net sales by 4.6% to 3,085.2 million euros in the first half of 2021/22 (2020/21: 2,949.0 million euros). New DIY stores and garden centers were opened in the second quarter in Trollhättan (Sweden) and Cluj (Romania). At constant scope and exchange rates, DIY stores and garden centers achieved sales growth of 3.4% in the first half. The online DIY activity (interconnected retail; ICR) increased its sales by 48.4% to 593 million euros in the first half and thus represented 19.2% of the turnover of the sub-group ( 2020/21: 13.6%).

The net sales of DIY stores and the Hornbach online store in Germany increased by 1.5% to reach 1,579.7 million euros in the first half of 2021/22 (2020/21: 1,557, 0 million euros). Like-for-like sales in Germany increased by 0.7% over the same period (2020/21: 24.3%). Net sales in the eight countries excluding Germany (other European countries) increased by 8.2% to reach € 1,505.5 million in the first half of 2021/22 (2020/21: € 1,391.9 million ). International activities contributed 48.8% of the turnover of the Hornbach Baumarkt AG sub-group (2020/21: 47.2%). At constant scope and exchange rates, sales in other European countries increased by 6.4% (2020/21: 14.4%).

The Sub-group Hornbach Baustoff Union GmbH, which currently operates 34 manufacturer outlets in southwestern Germany and two sites close to the border in France (Lorraine), increased its half-year turnover by 13.2% to 206.5 million euros (2020/21: 182.4 million euros).

Operating profit exceeds the record of the previous year

Thanks to strong sales performance and profit growth in the second quarter, the Hornbach Group’s key profit figures for the first half of the year (March 1 to August 31, 2021) broke the records set the previous year. EBIT adjusted to exclude non-operating income items increased by 3.8% to € 168.1 million in the second quarter of 2021/22 (2020/21: € 161.9 million) and by 0. 7% to 337.2 million euros in the first half of 2021/22 (2020/21: 334.7 million euros). With an adjusted EBIT margin of 10.2% during the semester (2020/21: 10.7%), profitability remained significantly higher than before the pandemic. Half-year earnings per share increased year on year to EUR 11.69 (2020/21: EUR 11.57).

At the level of Hornbach Baumarkt AG sub-group, Adjusted EBIT of 304.3 million euros almost matches the high figure of the previous year (2020/21: 307.0 million euros). The profit per Baumarkt share amounts to 6.58 EUR (2020/21: 6.62 EUR). The Sub-group Hornbach Baustoff Union GmbH and Sub-group Hornbach Immobilien AG contributed adjusted EBITs of 12.6 million euros (2020/21: 5.7 million euros) and 29.1 million euros (2020/21: 29.4 million euros) to the result consolidated.

Guidance: Sales and Adjusted EBIT Expected to Midpoint Previous Forecast

At the end of the first half of 2021/22, the company confirmed and specified in more detail the annual forecasts published on June 25, 2021 in the Quarterly Declaration for the first quarter of 2021/22. Sales growth for the Hornbach group is now expected to be above the midpoint of the 1% to 5% forecast range (fiscal year 2020/21: 5,456 million euros). Regarding earnings performance, the company currently expects Adjusted Consolidated Operating Profit (EBIT) to reach the top third of the forecast range of € 290 million to € 326 million and , as previously planned, slightly below the record figure published for Fiscal Year 2020/21 (€ 326.4 million). Hornbach aims to achieve an adjusted EBIT margin at the high end of the 5.3% to 5.7% range in 2021/22. Profitability should therefore greatly exceed that of the financial year preceding the coronavirus pandemic (2019/20: 4.8%) and the average of the last 20 years (4.5%).

Publication of the fourth magazine on sustainable development

The Hornbach group has published its annual magazine on sustainable development as well as its half-yearly financial report. Beyond legal reporting obligations, this publication provides space for topics that motivate the company, its employees and customers, such as resource-efficient logistics, recycling of building materials, women in leadership positions and of course the challenges presented by the coronavirus. pandemic.

Note: The half-yearly financial reports of Hornbach Holding AG & Co. KGaA and Hornbach Baumarkt AG as well as the Sustainability magazine can be downloaded from the “Publications” section of our website. Link: www.hornbach-group.com/FinancialReports

Contact:
Axel Müller
Group Communication and Investor Relations Director
HORNBACH Holding AG & Co. KGaA
Phone. +49 (0) 6348 602444
[email protected]

30.09.2021 Distribution of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this advertisement.

DGAP’s distribution services include regulatory announcements, financial / corporate news, and press releases.
Archives on www.dgap.de


Source link

Leave a Reply

Your email address will not be published.