Brief: Hornbach Holding Preliminary Q2 Adjusted EBIT Eur 111.8 Mln

Hornbach Holding AG & Co KGaA

15/09/2023 15:25

Sept 15 (Reuters) - HORNBACH HOLDING AG & CO KGAA
 HBH.DE :
    * HORNBACH HOLDING AG & CO. KGAA: HORNBACH GROUP SALES AND
EARNINGS STABILIZED IN Q2 – MORE PRONOUNCED MACRO CHALLENGES
IMPAIR FURTHER RECOVERY AND INDUCE FORECAST ADJUSTMENT
    * Q2 NET SALES UP BY 1.1%, Q2 ADJUSTED EBIT DOWN BY 13.4%
    * H1 NET SALES EUR 3.44 BILLION
    * H1 ADJUSTED EBIT EUR 221.3 MILLION
    * HORNBACH HOLDING AG & CO KGAA SAYS CAUTIOUS ON FURTHER
RECOVERY
IN SECOND HALF OF FINANCIAL YEAR DUE TO DETERIORATION IN
MACROECONOMIC OUTLOOK FOR GERMANY AND EU
    * HORNBACH HOLDING AG & CO KGAA SEES FY 2023/24 NET SALES AT
OR
SLIGHTLY BELOW PREVIOUS YEAR'S LEVEL (BEFORE: AROUND PREVIOUS
YEAR'S LEVEL)
    * HORNBACH HOLDING AG & CO KGAA - FY 2023/24 ADJUSTED EBIT
IS NOW
EXPECTED TO DECLINE BY -10% TO -25% BELOW NUMBER OF EUR 290.1
MILLION IN FY 2022/23 (BEFORE: -5% TO -15%)
    * Q2 ADJUSTED EBIT EUR 111.8 MILLION VERSUS EUR 129.1
MILLION LAST
YEAR

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