Germany · Delayed Price · Currency is EUR HORNBACH Holding AG & Co. KGaA Earnings Call Transcripts
Fiscal Year 2026
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A leading European DIY retailer reported resilient growth, expanding its footprint and digital integration while maintaining a strong dividend record. Strategic expansion into Serbia is planned by 2027, with ongoing efficiency and ESG initiatives.
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Net sales grew 3.8% to €5.1 billion, with strong international and e-commerce performance, stable gross margin, and Adjusted EBIT matching last year. Expansion continues with new stores and entry into Serbia, while CapEx and personnel costs rise. Guidance for stable EBIT and sales is maintained.
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Net sales rose 4.4% year-over-year, with strong like-for-like and e-commerce growth, and market share gains across Europe. Adjusted EBIT increased 2.5%, and free cash flow improved, while guidance for the full year is confirmed. Expansion continues with new store openings and infrastructure investments.
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Q1 net sales rose 5.7% year-over-year, with strong like-for-like and e-commerce growth. Adjusted EBIT improved 10.4%, and market share increased across key regions. Full-year guidance is confirmed, with macroeconomic uncertainties and cost pressures noted.
Fiscal Year 2025
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Net sales rose 0.6% to €6.2 billion and adjusted EBIT grew 6% to €270 million, with market share gains in key countries. Outlook for FY 2025-2026 is stable to slightly positive, with continued expansion and cautious guidance amid macroeconomic uncertainty.
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Solid nine-month growth was achieved despite macroeconomic headwinds, with improved gross margin, higher EBIT, and strong cash flow. Full-year EBIT is expected at or slightly above last year, with new store openings and continued market share gains, especially outside Germany.
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Stable H1 sales and improved margins led to a 38% EPS increase, with strong free cash flow and robust financials. Despite macroeconomic headwinds and subdued consumer sentiment, guidance for slightly higher full-year sales and EBIT is maintained.
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Q1 saw strong EBIT growth, higher gross margin, and increased sales, with market share gains in key regions. Guidance remains unchanged despite a slower Q2 start due to weather and sporting events, while Baustoff Union continues to face construction sector headwinds.