DGAP-News: Hornbach Holding AG: Hornbach shows stamina in a tough climate
(firmenpresse) - DGAP-News: Hornbach Holding AG / Key word(s): Final Results
Hornbach Holding AG: Hornbach shows stamina in a tough climate
28.05.2013 / 11:30
---------------------------------------------------------------------
Consolidated sales slightly up on previous year in 2012/2013 financial year
Hornbach shows stamina in a tough climate
DIY megastores and garden centers face up to recession in Europe / As
expected, earnings fall short of previous year's figures / Market share
extended both at home and abroad / Five new stores opened / Hornbach
invests Euro 150 million / Extremely long winter impedes 2013/2014 spring
season
Frankfurt/Main, May 28, 2013. The Hornbach Group increased its sales by 0.8
percent to Euro 3.229 billion in the 2012/2013 financial year (March 1,
2012 to February 28, 2013). Consistent with expectations, the Group's
operating earnings (EBIT) of Euro 145.9 million fell short of the previous
year's record figure of Euro 169.1 million. Albrecht Hornbach, Chairman of
the Board of Management, sees the increasingly severe recession and its
negative impact on consumer confidence across large parts of Europe since
2012 as the main reason for this development. 'We showed great stamina in
an extremely tough macroeconomic climate. Thanks to our five new stores, we
achieved a further slight improvement in our consolidated sales. Given the
weaker like-for-like sales performance of our international stores due to
economic factors, however, we were unable to match the very strong earnings
posted for the previous year.'
At the presentation of the annual results in Frankfurt, Hornbach voiced his
pride regarding the Group's performance in Germany. Here, the country's
third-largest DIY player had significantly outperformed the overall
do-it-yourself (DIY) sector and expanded its market share. On a
like-for-like, basis, i.e. excluding newly added locations and extensions,
the Hornbach DIY megastores with garden centers in Germany once again
matched the very high sales generated in the 2011/2012 financial year. The
5.8 percent jump in sales in the previous year had marked the strongest
growth in Germany in the past 20 years. Outside Germany, like-for-like
sales fell by 3.2 percent. 'Thanks to our respectable performance in
Germany, we managed to keep the group-wide downturn in comparable store
sales by 1.4 percent well in check', commented Albrecht Hornbach.
No longer a 'normal DIY store'
Sales at the Hornbach-Baumarkt-AG subgroup rose by 0.6 percent to Euro 3.02
billion. Compared with the robust performance in Germany, consumer
confidence in many international regions was directly affected by the
European sovereign debt crisis. Hornbach nevertheless clearly outperformed
its competitors in almost all of its international markets. 'With our
sustainable strategy and our unmistakable concept, that makes project
customers the focus of all our efforts, we are now anything but a 'normal
DIY store'', added Hornbach. By offering high-quality, modern furnishing
and fitting ranges, such as the 'Bathroom House' and the 'Kitchen Center',
Hornbach stores had moved far beyond past DIY store clichés. The company
intends to further build on this high standard, both in terms of the
quality of its products and of the wide range of services on offer, such as
the tradesman, paint mixing and picture framing services, as well as
services offered by the online store, such as the 'Reserve on line and pick
up at the store' service.
Other parts of the Group reported improvements, in some cases substantial,
in their sales and earnings. The HORNBACH Baustoff Union GmbH subgroup,
which operates 25 regional builders' merchant outlets in south-western
Germany, increased its sales by 3 percent to Euro 207.3 million and its
operating earnings (EBIT) by more than 21 percent to Euro 4.6 million. The
HORNBACH Immobilien AG subgroup improved its EBIT by 19 percent to Euro
46.4 million.
Germany's top-performing online DIY store and garden center
'Notwithstanding the subdued consumer climate across large parts of Europe,
we invested a double-digit million sum in key forward-looking projects in
the past financial year', explained Hornbach. 'That is because we think and
act on a long-term basis.' First and foremost, these projects included
developing and expanding the online store at www.hornbach.de. According to
Hornbach, this is considered Germany's largest and top-performing virtual
DIY store given its range of more than 50,000 products, i.e. virtually the
entire stationary product range, and its impressive service offering. Not
only that, the company would increasingly benefit in future from megatrends
such as energy-efficient building renovation, contemporary interiors, and
barrier-free construction and renovation.
The Hornbach Group's workforce grew by 4.1 percent to 14,913 employees in
the 2012/2013 financial year. Most of the new jobs, numbering almost 600 in
total, were created at the four new stores opened in Sweden, Romania,
Switzerland, and Oberhausen/Germany. Furthermore, the store in
Bremen/Germany was replaced by a large newly built megastore.
The equity ratio at the Hornbach Group rose from 45.9 percent to 48.3
percent at the balance sheet date on February 28, 2013. The dividends to be
paid by Hornbach Holding AG (Euro 0.64 per ordinary share and Euro 0.67 per
preference share) and Hornbach-Baumarkt-AG (Euro 0.50 per share) should
remain unchanged on the previous year.
Long winter places damper on new season start
The first months of the new financial year have been a race to catch up.
'The winter, which in some parts of Europe lasted into May, literally froze
customer demand in the European DIY sector. We have never seen a start like
this to a new financial year,' remarked Hornbach, but expressed his
confidence that the company would make up lost ground as the year
progressed. The Hornbach Group is nevertheless cautious in the assessment
provided in the outlook section of its newly presented Annual Report.
Consolidated sales for the 2013/2014 financial year, including sales at
three new stores and one planned replacement location, are thus expected to
'slightly exceed' the previous year's figure. According to the forecast,
operating earnings (EBIT) at the Hornbach Holding AG Group will 'more or
less match or fall slightly short of the level reported for the 2012/2013
financial year (Euro 145.9 million)'. In 2013/2014, the Hornbach Group
plans to make investments in a range of between Euro 150 million and Euro
200 million.
Key earnings figures of the Hornbach Group (Hornbach Holding AG Group)
Key figures of the Hornbach Holding AG 2012/2013 2011/2012±Group
(in Euro million, unless otherwise stated) financial financial in %
year year
Net sales 3,229.0 3,204.2 0.8
of which Hornbach-Baumarkt-AG subgroup 3,020.0 3,001.0 0.6
- Germany 1,740.6 1,729.0 0.7
- Other European countries 1,279.4 1,272.1 0.6
Like-for-like sales growth (DIY) -1.4% 2.8%
of which: Hornbach Baustoff Union GmbH
subgroup 207.3 201.5 2.9
Gross margin (as % of net sales) 36.5% 36.6%
EBIT 145.9 169.1 -13.7
of which: Hornbach-Baumarkt-AG subgroup 99.3 128.4 -22.7
of which: Hornbach Immobilien AG subgroup 46.4 39.0 19.0
of which: Hornbach Baustoff Union GmbH
subgroup 4.6 3.8 21.1
Earnings per Holding preference share (in
Euro) - WKN 608343 4.08 4.79 -14.8
Misc. key figures of the Hornbach February February±Holding Group 28, 2013 29, 2012(Differences due to rounding up or down to nearest Euro million; percentage
in %
Shareholders' equity as % of total
assets 48.3% 45.9%
Number of DIY stores with garden centers 138 134
Sales area of DIY stores with garden
centers in 000 m²(BHB) 1,598 1,549 3.2
Number of employees 14,913 14,320 4.1
changes calculated on basis of Euro 000s)
Note
The Annual Reports of the HORNBACH HOLDING AG Group and the
HORNBACH-Baumarkt-AG subgroup for the 2012/2013 financial year are
available online at: www.hornbach-group.com.
End of Corporate News
---------------------------------------------------------------------
28.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: Hornbach Holding AG
Le Quartier Hornbach 19
67433 Neustadt an der Weinstraße
Germany
ISIN: DE0006083439
WKN: 608343
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
213310 28.05.2013
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 28.05.2013 - 11:30 Uhr
Sprache: Deutsch
News-ID 263707
Anzahl Zeichen: 11402
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 309 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Hornbach Holding AG: Hornbach shows stamina in a tough climate"
steht unter der journalistisch-redaktionellen Verantwortung von
Hornbach Holding AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
