PRESS RELEASE: Hornbach Holding AG & Co. KGaA: Hornbach Group Maintains Profitable Growth in H1 2021/22 – Sales and Profits Continue at Record Highs


DGAP-News: Hornbach Holding AG & Co. KGaA / Keyword (s): Half year report Hornbach Holding AG & Co. KGaA: The Hornbach group maintains profitable growth in the first half of 2021/22 – Sales and profits continue at record levels 2021 -09-30 / 07:00 The issuer is solely responsible for the content of this announcement.

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Hornbach Group Maintains Profitable Growth in H1 2021/22 – Sales and Profits Continue at Record Highs

– Strong customer demand for DIY products continued in the second year of the pandemic: half-year consolidated sales increased 5.1% to 3.3 billion euros

– Increased market share in key country markets – Like-for-like growth in Germany continues to be well above industry average

– Online sales increase by 48% to 593 million euros in the first half – Online activities now represent 19.2% of total sales (2020/21: 13.6%)

– At 337.2 million euros, Adjusted EBIT breaks previous year’s record – Profitability remains well above pre-pandemic levels

– Forecasts for the year 2021/22 confirmed and specified in more detail: the Hornbach group forecasts an adjusted EBIT in the upper third of the corridor of 290 million euros to 326 million euros

Key figures of the Hornbach group for the 2nd quarter and the 1st half at a glance

                                                         2^nd Quarter 2^nd Quarter    ± 
(in EUR million, unless otherwise stated)                     2021/22      2020/21 in % 
Net sales at Hornbach Group                                   1,614.3      1,555.1  3.8 
Net sales at Hornbach Baumarkt AG subgroup                    1,509.4      1,456.8  3.6 
of which in Germany                                             764.8        748.6  2.2 
of which in other European countries                            744.6        708.2  5.1 
Like-for-like sales growth (DIY)                                 2.5%        21.4% 
of which in Germany                                              1.7%        24.1% 
of which in other European countries                             3.4%        18.6% 
Net sales at Hornbach Baustoff Union GmbH subgroup              104.6         97.9  6.8 
Gross margin (as % of net sales)                                35.4%        35.2% 
EBIT                                                            168.1        162.2  3.6 
Adjusted EBIT^1)                                                168.1        161.9  3.8 
of which Hornbach Baumarkt AG subgroup                          150.5        147.0  2.4 
Consolidated earnings before taxes                              155.4        150.3  3.4 
Consolidated net income before minority interests               118.4        112.0  5.7 
Earnings per Hornbach Holding share (basic/diluted in EUR)         5.85         5.51  6.2 
Investments                                                     101.9         37.5 >100 
                                                         1^st Half 1^st Half    ± 
(in EUR million, unless otherwise stated)                  2021/22   2020/21 in % 
Net sales at Hornbach Group                                3,292.4   3,132.2  5.1 
Net sales at Hornbach Baumarkt AG subgroup                 3,085.2   2,949.0  4.6 
of which in Germany                                        1,579.7   1,557.0  1.5 
of which in other European countries                       1,505.5   1,391.9  8.2 
Like-for-like sales growth (DIY)                              3.4%     19.4% 
of which in Germany                                           0.7%     24.3% 
of which in other European countries                          6.4%     14.4% 
Net sales at Hornbach Baustoff Union GmbH subgroup           206.5     182.4 13.2 
Gross margin (as % of net sales)                             35.4%     35.6% 
EBIT                                                         337.2     335.6  0.5 
Adjusted EBIT^1)                                             337.2     334.7  0.7 
of which Hornbach Baumarkt AG subgroup                       304.3     307.0 -0.9 
Consolidated earnings before taxes                           312.9     313.5 -0.2 
Consolidated net income before minority interests            236.4     235.0  0.6 
Earnings per Hornbach Holding share (basic/diluted in EUR)     11.69     11.57  1.0 
Investments                                                  156.9      64.7 >100 
Misc. key figures: Hornbach Holding AG & Co. KGaA Group August 31, 2021 February 28, 2021 ± in % 
Shareholders' equity as % of total assets                        46.7 %            44.2 % 
Number of retail stores^2)                                          165               163    1.2 
Sales area in 000 m² (based on BHB)                               1,941             1,918    1.2 
Number of employees                                              24,285            23,279    4.3 

Rounding up or down may result in discrepancies between percentages and totals. Calculation of percentages on the basis of thousands of euros. ^ 1) Adjusted to exclude non-operating income and expenses ^ 2) Including two specialty stores Bodenhaus Bornheim, September 30, 2021. The Hornbach group (Hornbach Holding AG & Co. KGaA Group) maintained its profitable growth course in the first half of 2021 / 22 (from March 1 to August 31, 2021) and gained additional market share in the countries where it is present. Consolidated turnover in the first six months increased by 5.1% to 3,292.4 million euros (2020/21: 3,132.2 million euros). Thanks to this good business performance and second quarter profit growth, the Hornbach Group adjusted consolidated operating profit (adjusted EBIT) exceeded the previous year’s record in the first half. Based on this strong first half performance, full-year revenue and adjusted EBIT are now expected to reach the midpoint of the forecast range.

“Our half-year results clearly show that consumers continue to care deeply about making their homes attractive and safe. Customer demand for construction and DIY products remained high during the summer months, although the weather was very volatile and consumers started to travel a lot more again. . We increased our sales by an additional 5.1% in the first half of 2021/22 and our adjusted EBIT broke the previous year’s record. All of this underlines the performance capability of our Interconnected Retail (ICR) approach, ”commented Albrecht Hornbach, CEO of Hornbach Management AG. “Thanks to the ICR, Hornbach significantly outperformed the industry average in Germany and other major national markets, especially during the difficult period of the pandemic in the first half of the calendar year, and gained further shares Steps

Hornbach Baumarkt AG, the largest operating subgroup (DIY retail) which operated a total of 165 locations and online stores in nine European countries as of August 31, 2021, increased its net sales by 4.6% to 3,085.2 million euros in the first half of 2021/22 (2020/21: 2,949.0 million euros). New DIY stores and garden centers were opened in the second quarter in Trollhättan (Sweden) and Cluj (Romania). At constant scope and exchange rates, DIY stores and garden centers achieved sales growth of 3.4% in the first half. The online DIY activity (interconnected retail; ICR) increased its sales by 48.4% to 593 million euros in the first half and thus represented 19.2% of the turnover of the sub-group ( 2020/21: 13.6%).

The net sales of DIY stores and the Hornbach online store in Germany increased by 1.5% to reach 1,579.7 million euros in the first half of 2021/22 (2020/21: 1,557, 0 million euros). Like-for-like sales in Germany increased by 0.7% over the same period (2020/21: 24.3%). Net sales in the eight countries excluding Germany (other European countries) increased by 8.2% to reach € 1,505.5 million in the first half of 2021/22 (2020/21: € 1,391.9 million ). International activities contributed 48.8% of the turnover of the Hornbach Baumarkt AG sub-group (2020/21: 47.2%). At constant scope and exchange rates, sales in other European countries increased by 6.4% (2020/21: 14.4%).

The Hornbach Baustoff Union GmbH sub-group, which currently operates 34 manufacturer outlets in southwest Germany and two sites close to the border in France (Lorraine), increased its half-year turnover by 13 , 2% to 206.5 million euros (2020/21: 182.4 M €). Operating profit exceeds the record of the previous year

Thanks to strong sales performance and profit growth in the second quarter, the Hornbach Group’s key profit figures for the first half of the year (March 1 to August 31, 2021) broke the records set the previous year. EBIT adjusted to exclude non-operating income items increased by 3.8% to € 168.1 million in the second quarter of 2021/22 (2020/21: € 161.9 million) and by 0. 7% to 337.2 million euros in the first half of 2021/22 (2020/21: 334.7 million euros). With an adjusted EBIT margin of 10.2% during the semester (2020/21: 10.7%), profitability remained significantly higher than before the pandemic. Half-year earnings per share increased year on year to EUR 11.69 (2020/21: EUR 11.57).

At the level of the Hornbach Baumarkt AG sub-group, the adjusted EBIT of 304.3 million euros almost corresponds to the high figure of the previous year (2020/21: 307.0 million euros). The profit per Baumarkt share amounts to 6.58 EUR (2020/21: 6.62 EUR). The Hornbach Baustoff Union GmbH subgroup and the Hornbach Immobilien AG subgroup contributed an adjusted EBIT of 12.6 million euros (2020/21: 5.7 million euros) and 29.1 million euros. ‘euros (2020/21: 29.4 million euros) to the consolidated result.

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September 30, 2021 1:00 am ET (5:00 am GMT)


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