HORNBACH Group achieves sales and earnings growth and continues to increase market share

HORNBACH Group achieves sales and earnings growth and continues to increase market share

• FY 2024/25 net sales of EUR 6.2 billion (+0.6%) reflect positive performance despite a challenging consumer environment
• Gross profit improved through product range updates and due to further normalization of core commodity prices
• Adjusted consolidated operating earnings (EBIT) increased by 6.0% to EUR 269.5 million, in line with guidance and preliminary figures
• Further market share gains in Germany and Europe
• Stable dividend proposed at EUR 2.40 per share – subject to approval by Annual General Meeting on July 11, 2025
• Guidance 2025/26: Net sales expected at or slightly above FY 2024/25, with adjusted EBIT projected to be in line with 2024/25 reflecting ongoing caution around costs

Table 1: Key figures HORNBACH Holding AG & Co. KGaA Group

¹⁾ in constant currencies; includes sales from all stores that have been open for at least one year as well as sales from online shop

²⁾ adjusted to exclude non-operating income and expenses, e.g. impairment losses on assets, income from disposals of properties, income from write-ups of assets impaired in previous years.

Rounding up or down may lead to discrepancies between percentages and totals. Percentage figures calculated on basis of EUR 000s.

Bornheim (Palatinate), Germany, May 21, 2025.

HORNBACH Group (HORNBACH Holding AG & Co. KGaA Group; ISIN: DE0006083405) delivered strong results for the financial year 2024/25 (March 1, 2024 to February 28, 2025) with sales of EUR 6,200 million (+0.6%) and adjusted EBIT of EUR 269.5 million (+6.0%). For the current financial year 2025/26, HORNBACH expects sales at or slightly above the previous year’s level, supported by new stores and a thus far promising Q1 spring season. Against the backdrop of inflation-related wage increases, adjusted EBIT in 2025/26 is expected at the 2024/25 level. In accordance with its dividend policy, HORNBACH Holding’s management will propose a stable dividend of EUR 2.40 per share to the Annual General Meeting on July 11, 2025.

“We are pleased despite the weak consumer markets to have achieved strong earnings growth in the 2024/25 financial year. We see positive signs in the medium to long term: real wages have risen, interest rates are falling and inflation is declining. The infrastructure package announced by the German federal government is also welcome. Although the spring season has gotten off to a successful start, we are remaining cautious in our forecast for the current 2025/26 fiscal year. It is not yet possible to predict what specific impact the political and economic developments in Europe and around the world will have on us, our supply chains, and our customers' consumer and investment sentiment”, commented Albrecht Hornbach, CEO of HORNBACH Management AG.

Erich Harsch, CEO of HORNBACH Baumarkt AG, added: “Increased customer footfall shows that people continue to enjoy shopping at our stores. Despite cautious consumer sentiment the average basket size remained stable, meaning we are performing better than the industry as a whole, which is encouraging. In the current financial year, we are continuing to invest in the construction of new stores, the modernization or expansion of existing locations, digitalization and the further development of our services. We still see significant potential for further expansion across Europe. In line with this at the end of March we opened a new store in Duisburg, and three additional stores are scheduled to open in Austria and Romania in the coming months.”

In the 2024 calendar year, HORNBACH Baumarkt successfully grew its market share (GfK³⁾) to 15.2% in Germany (2023: 14.9%), to 28.1% in the Netherlands (2023: 27.1%), to 37.7% in Czechia (2023: 36.2%), and to 14.3% in Switzerland (2023: 13.9%). In Austria, HORNBACH maintained its market share on a high level at 17.3% (2023: 17.3%).

Adjusted EBIT of HORNBACH Group improved to EUR 269.5 million

The adjusted EBIT of HORNBACH Group in 2024/25 increased by 6.0% to EUR 269.5 million (2023/24: EUR 254.2 million). This is in line with the earnings guidance published on May 22, 2024, which expected adjusted EBIT at or slightly above previous year’s level. Adjusted EBIT benefited from improvements to gross profit based on the introduction of new products as well as the further normalisation of core commodity prices. The adjusted EBIT margin improved to 4.3% (2023/24: 4.1%).

Adjusted EBIT in the HORNBACH Baumarkt subgroup increased by 10.0% to EUR 233.7 million (2023/24: EUR 212.4 million), HORNBACH Baustoff Union’s adjusted EBIT came in at EUR 3.1 million (2023/24: EUR 4.7 million) as the subgroup has been affected by the ongoing weakness in the German construction industry in the 2024/25 financial year. HORNBACH Immobilien subgroup’s adjusted EBIT increased to EUR 63.9 million (2023/24: EUR 63.3 million).

Non-operating charges against earnings, which are mainly attributable to valuation effects in accordance with IAS 36 (impairments), decreased from EUR 28.4 million to EUR 16.8 million in the 2024/25 financial year. EBIT including non-operating effects rose by 11.9% to EUR 252.7 million (2023/24: EUR 225.8 million).

Earnings per HORNBACH Holding share came in at EUR 8.80 (2023/24: EUR 7.83). The Management Board and the Supervisory Board will propose a stable dividend of EUR 2.40 per share subject to approval by the Annual General Meeting of HORNBACH Holding AG & Co. KGaA, which will be held on July 11, 2025. The company is thus continuing its long-standing dividend strategy and paying a dividend at least at the previous year's level for the 38th time since its IPO.

Cash flow from operating activities on the Group level decreased to EUR 318.4 million (2023/24: EUR 454.9 million), mainly driven by fluctuations in working capital. HORNBACH Group’s investments of EUR 183.7 million (2023/24: EUR 192.6 million) included investments for new store openings in the coming years and a number of store conversions.

Guidance 2025/26*: Cautious outlook reflects ongoing volatile macroeconomic and geopolitical conditions

Net sales in the 2025/26 financial year are expected to be at or slightly above the level of the 2024/25 financial year (EUR 6,200 million). Sales growth will be supported by recently opened stores in Nuremberg (February 26, 2025) and Duisburg (March 26, 2025) as well as three further new openings in Austria and Romania in the course of 2025/26. The start to the spring season has been promising, however the volatile macroeconomic and geopolitical environment poses continued challenges with regard to supply chains and consumer sentiment.

Adjusted EBIT is expected to be at the level of the 2024/25 financial year (EUR 269.5 million) with gross margins remaining stable. However, despite continued cost discipline, further cost increases are expected to result from salary adjustments reflecting higher inflation rates in previous years.

*Guidance nomenclature:
Sales: “At previous year's level” = -2% to +2% | “Slight” = +/- 2% to +/- 6% | “Significant” = changes of more than 6%. |
Adj. EBIT: “At previous year's level” = -5% to +5% | “Slight” = +/- 5% to +/- 12% | “Significant" = > +/- 12%.

Table 2: Miscellaneous key figures HORNBACH Holding AG & Co. KGaA Group

³⁾ GfK definition: DIY stores bigger than 1,000 sqm; data available for Germany, Netherlands, Austria, Switzerland and Czech Republic

⁴⁾ Of which 170 HORNBACH DIY stores with garden centers and two BODENHAUS outlets

⁵⁾ Sales area BHB: Closed building (warm or cold): 100%; covered open space (cold): 50 %; building material drive-in (cold): 50 %; non-covered open space (cold): 25 %.

⁶⁾ Number of employees as of February 28/29, including passive employees

Notes
The Annual Report of the HORNBACH Holding AG & Co. KGaA Group for the 2024/25 financial year is available online at: www.hornbach-holding.de.

The press briefing on the annual results is scheduled for 11 AM CEST today (German). A live broadcast is accessible via the following link:
https://hornbach.engagestream.companywebcast.com/hornbach-gruppe-jahrespressekonferenz-2025

The analyst and investor conference on the annual results is scheduled for 2 PM CEST today (English). A live broadcast is accessible via the following link: https://hornbach.engagestream.companywebcast.com/2025-05-21-hornbach-holding-analyst-conference

Explanations and reconciliations of the key financial figures used can be found on our website.

About the HORNBACH Group

The HORNBACH Group is an independent, family-run retail group managed by HORNBACH Holding AG & Co. KGaA, which is listed on the Frankfurt Stock Exchange and included in the SDAX. Its largest subsidiary, HORNBACH Baumarkt AG, operates 173 DIY megastores with garden centers (including specialist stores) and online shops in nine European countries. The HORNBACH Group also includes HORNBACH Baustoff Union, a regional builders’ merchant company with 39 locations in southwestern Germany and France, and HORNBACH Immobilien AG, which develops retail real estate for the Group. In the 2024/25 financial year (balance sheet date: February 28, 2025), the HORNBACH Group generated net sales of EUR 6.2 billion, making it one of the top five retailers for DIY and garden products in Europe. The Group has around 25,000 employees.

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