HORNBACH Group Meets FY 2023/24 Targets Amid Market Challenges

HORNBACH Holding AG & Co. KGaA announced completion of FY 2023/24, achieving its financial objectives despite macroeconomic challenges. Although consolidated net sales slightly decreased by 1.6% to EUR 6,161 million, this was in accordance with the company's forecasts. Notably, Q4 saw a minor sales dip of 1.5%, but signals of recovery were observed.

Adjusted Group operating earnings (EBIT) were reported at approximately EUR 254 million, marking a 12% reduction in alignment with previous guidance. The company attributes the stable performance to improved gross margins influenced by the normalization of core commodity prices and a more favorable product mix.

HORNBACH demonstrated resilience by increasing its market share in key international markets. In Germany, despite the competitive landscape, the company managed to maintain a strong position. Moreover, the HORNBACH Baumarkt AG subgroup reported close alignment with the preceding year's sales performance. Online sales, though experiencing a slight decline, remained robust compared to pre-pandemic levels.

The DIY sector's continuous appeal and emerging market trends, like energy efficiency and barrier-free renovations, present growth opportunities for HORNBACH. The company's strategic initiatives to enhance its product offerings and services, including the acquisition of Seniovo, fortify its market positioning.

The financial standing and strategic advances outlined signify HORNBACH Group's adaptability and its sustained commitment to growth amidst fluctuating market conditions. Complete financial results and forecasts for FY 2024/25 will be disclosed on May 22, 2024.