Hornbach stumbles on guidance decrease

Hornbach Holding AG & Co KGaA

14/06/2022 07:31

** Shares in Hornbach  HBH.DE  fall 5% in early Frankfurt
trade after the German DIY store group cut its EBIT outlook for
FY 2022/23  urn:newsml:reuters.com:*:nASM000FAM
    ** The Bornheim-based firm now expects FY adjusted EBIT to
decline at around a low double-digit percentage range from EUR
362.6 mln ($378.12 million) reported last year
    ** It had previously forecast EBIT to fall slightly
year-on-year
    ** It cites challenges caused by inflation, supply chain and
product pricing as reasons for the guidance downgrade
    ** "Brutal warning after eight consecutive earnings guidance
upgrades. Named issues are anything but new but will that help?"
a local trader says
    ** Hornbach shares fall to the bottom of Germany's small-cap
index  .SDAXI  in early Frankfurt trade

($1 = 0.9590 euros)

 (Reporting by Tristan Chabba)
 ((Tristan.chabba@thomsonreuters.com))