HORNBACH Group Q3 Net Income Declines; FY Earnings Forecast Remains Unchanged

(RTTNews) - HORNBACH Group (HBAPF.PK) reported third quarter net income before minority interests of 17.7 million euros compared to 29.3 million euros, last year. Earnings per HORNBACH Holding share was 1.06 euros compared to 1.76 euros. Adjusted EBIT came in at 34.6 million euros, down 28.1% from a year ago, partly influenced by necessary salary raises. Sales were up 1.3% to 1.50 billion euros in the third quarter. The Group's earnings forecast for the full year 2024/25 remains unchanged.

Erich Harsch, CEO of HORNBACH Baumarkt AG, said: "Despite the challenging consumer environment, we are very satisfied with customer engagement and are confident of our upcoming fiscal year results. Our presence in several European countries has strengthened our business and we will continue to grow organically in Europe where we see attractive opportunities for expansion. At the end of February, we will reopen our store in Nuremberg followed by additional store openings in Germany, Austria, and Romania in 2025/26."

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