HORNBACH Group FY Adj. EBIT To Decrease By Approx. 20%; Group Sales Up 6.6%

The HORNBACH Group (HBAPF.PK) reported preliminary adjusted EBIT for fiscal 2022/23 at approximately 290 million euros, below the record figure reported for the previous year of 362.6 million euros. The Group said its adjusted EBIT declined as guided by 20.0%, mainly due to inflationary pressures and cost pressures weighing on its margins. Earnings were also impacted by increased store operating and personnel costs.

Consolidated net sales in the financial year 2022/23 increased by 6.6% to 6.26 billion euros. The largest operating subgroup, HORNBACH Baumarkt AG, increased its sales by 6.3% to 5.84 billion euros. On a like-for-like basis and net of currency effects, sales of HORNBACH Baumarkt AG rose by 3.6%.

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