The earnings position of Hornbach Baumarkt AG showed a significant improvement in the third quarter of 2019/20 (1 September to 30 November 2019) compared to the previous year, reports the company. It has therefore raised its earnings forecast.
Based on preliminary figures, with a rise in net sales of 4.8 per cent to nearly EUR 1.055 bn, the operating earnings adjusted for non-operating items (EBIT) have increased compared to the previous year’s quarter of EUR 4 mio to a good EUR 29 mio. The reason for the “very pleasing earnings performance in the third quarter of 2019/20 was due in particular to the like-for-like sales growth achieved at home and abroad over and above the previous year’s high level of sales, as well as to improved cost ratios,” says Hornbach.
In the first three quarters of 2019/20, net sales rose by 7.5 per cent to around EUR 3.50 bn.
Source: DIY International, https://www.diyinternational.com