DYI store chain Hornbach drops 10% after weak Q3, lowered sales target

Hornbach Holding AG & Co KGaA

20/12/2024 08:19

** Shares in Hornbach Holding  HBH.DE  fall 10% after the
German DIY store group posted soft Q3 results and lowered its FY
sales guidance
    ** It reports Q3 sales of 1.51 billion euros ($1.57 billion)
and an adjusted EBIT of 34 million euros, below Baader analysts'
estimates by 2% and 7% respectively
    ** Given the weak developments in the consumer climate,
particularly in Germany, Hornbach expects FY sales to remain at
last year's level, vs previous forecast for a slight increase
    ** It maintains FY earnings outlook despite a far better
than expected earnings momentum in H1, Baader notes
    ** The shares fall to the bottom of German small-cap index
SDAX  .SDAXI  and are on track for their worst day since May
2023 if the losses hold

($1 = 0.9635 euros)

 (Reporting by Amir Orusov)
 ((Amir.orusov@thomsonreuters.com))