HORNBACH Baumarkt AG

  • WKN: 608440
  • ISIN: DE0006084403
  • Land: Deutschland

Nachricht vom 19.03.2020 | 19:05

HORNBACH Baumarkt AG: HORNBACH Baumarkt AG Group specifies earnings forecast

HORNBACH Baumarkt AG / Key word(s): Change in Forecast
HORNBACH Baumarkt AG: HORNBACH Baumarkt AG Group specifies earnings forecast

19-March-2020 / 19:05 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.



HORNBACH Baumarkt AG Group specifies earnings forecast

Bornheim bei Landau, March 19, 2020.
On December 10, 2019, the HORNBACH Baumarkt AG Group raised its earnings forecast for the past 2019/20 financial year (March 1, 2019 to February 29, 2020). In connection with the preparation of the current consolidated financial statements, the company's Board of Management is now providing further details. Based on initial, preliminary, and unaudited earnings figures, operating earnings adjusted to exclude non-operating earnings items (adjusted EBIT) are now expected to have more than doubled (2018/19: Euro 81.9 million).

This strong earnings growth was driven in particular by like-for-like sales growth generated in Germany and abroad on top of the previous year's high levels, which accelerated in the mild winter quarter (December 1, 2019 to February 29, 2020), as well as by improved cost ratios.

Non-operating earnings items mainly involve impairments recognized pursuant to IAS 36 (Impairments). Based on the preliminary, as yet unaudited data, impairments rose significantly compared with the previous year.

The Hornbach Baumarkt AG Group increased its sales in the 2019/20 financial year by 8.1 % to more than Euro 4.4 billion. In its Trading Statement, due for publication on March 20, 2020, the HORNBACH Group will report separately and in further detail on its sales performance in the past 2019/20 financial year.

The updated earnings forecast for 2019/20 is subject to the proviso that no adjusting events requiring retrospective recognition in the annual financial statements arise as the corona crisis progresses.

Due to the corona pandemic, Hornbach has been ordered to temporarily close its stationary stores in several countries. The resultant negative impact on the company's sales and earnings performance in the new 2020/21 financial year cannot be quantified at this point in time.

Details of the earnings performance in 2019/20 and an outlook for the 2020/21 financial year will be published at the Annual Results Press Conference of the Hornbach Group, which is scheduled to be held on May 27, 2020.

 


Contact:
Axel Mueller
Group Communications and Investor Relations Director
HORNBACH Holding AG & Co. KGaA
Tel. +49 (0) 6348 602444
axel.mueller@hornbach.com

19-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de



show this

Interview im Fokus

Mountain Alliance: „Großer Digitalisierungsschub“

Furioses Börsendebüt für den Datenbankspezialisten Exasol. Einer der Profiteure: Die Münchner Beteiligungsgesellschaft Mountain Alliance AG (MA, ISIN DE000A12UK08), die auch nach einem Teilexit noch rund 2% an Exasol hält. Aktuell notiert die MA-Aktie rund 30 % unter dem NAV. Financial.de sprach mit MA-CEO Daniel Wild über die stärksten Digitalisierungstrends, die kritische Größe von 100 Mio. Euro Börsenwert, den neuen Investor und weitere Aktienkäufe.

GBC-Fokusbox

Aves One AG: Kursziel 13,60 €

Die Aves One AG ist auch in der Corona-Krise als Bestandshalter von langlebigen Logistik-Assets mit langfristigen Mietverträgen gut aufgestellt. Das Unternehmen hat als Guidance einen Umsatz und ein EBITDA mindestens auf Vorjahresniveau verkündet. Unseres Erachtens sollte dies auch ohne Zukäufe gut machbar sein, da die im abgelaufenen Geschäftsjahr 2019 erworbenen Assets bereits zu einer höheren Umsatzbasis führen sollten. Auf Basis unseres DCF-Modells haben wir ein Kursziel in Höhe von 13,60 € ermittelt und vergeben ein KAUFEN-Rating.

News im Fokus

Deutsche Lufthansa AG: Einigung über Lufthansa Stabilisierungspaket

30. Mai 2020, 00:04

Aktuelle Research-Studie

2G Energy AG

Original-Research: 2G Energy AG (von First Berlin Equity Research GmbH): Hinzufügen

29. Mai 2020