Q3 2025 HORNBACH Holding AG & Co KgaA Earnings Call Transcript
Key Points
- HORNBACH Holding AG and Co KGaA (XTER:HBH) achieved a sales growth of 0.5% to EUR4.95 billion in the first nine months of the fiscal year, despite a challenging macroeconomic environment.
- The company's market share increased in most countries, with a notable rise in customer frequency by 1.6%.
- Gross margin improved by 1.3 percentage points, contributing to a significant increase in adjusted EBIT to EUR300 million.
- E-commerce sales remained stable at 12.4% of total sales, with growth driven by Click & Collect and direct delivery.
- The company maintained a strong balance sheet with an equity ratio of 46.8% and reduced net financial debt, resulting in an improved debt ratio of 2.3%.
- Sales growth was slightly below expectations, with a like-for-like sales increase of only 1.1% in Q3, which was considered softer than anticipated.
- Switzerland was the only region that did not achieve positive sales growth on a like-for-like basis.
- The company faced increased costs due to salary raises, which impacted the Q3 cost base and contributed to a decline in EBIT for the quarter.
- The guidance for full-year revenue was adjusted to stable, reflecting a more cautious outlook despite positive sales developments in Q3.
- The company is navigating a market characterized by soft consumer sentiment and reluctant spending behavior, particularly for larger projects.
Good morning, and welcome to our update call for the third quarter and the first nine months of the 2024-2025 fiscal year for HORNBACH Holding. My name is Antje Kelbert, Head of Investor Relations. This morning at 7:00 AM, we released our reports and presentation on our IR website. Karin Dohm, CFO of HORNBACH Group, will take you through financial highlights and development of our first nine months.
Before I hand over to Karin, I would like to remind you that the entire conference call, including the Q&A session, will be recorded and made available with the transcript on the company's website. Following Karin's remarks, we will open the floor to questions. If you are unable to get your question during the call, please reach out to the Investor Relations team afterwards. Please also take note of this disclaimer, which is valid for the entire presentation and for the Q&A session.
And now, Karin, I hand over to you. Please go ahead.
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