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4-Traders Homepage  >  Equities  >  Xetra  >  HORNBACH Holding AG & Co. KGaA       DE0006083439

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Hornbach Holding AG : HORNBACH reduces forecast

11/28/2012 | 05:26am US/Eastern

Neustadt an der Weinstrasse/Bornheim bei Landau, November 27, 2012.
The Board of Management of HORNBACH HOLDING AG and the Board of Management of HORNBACH-Baumarkt-AG have updated the sales and earnings forecast for the current 2012/2013 financial year (March 1, 2012 to February 28, 2013) to account for the unfavorable macroeconomic framework in Europe. Full-year consolidated sales of HORNBACH HOLDING AG Group for 2012/2013 are now expected at around the previous year's figure of Euro 3.2 billion (HORNBACH-Baumarkt-AG subgroup: Euro 3.0 billion). Previously, the target was to generate sales growth in a low single-digit percentage range.

This more cautious assessment of the company's ongoing business performance is due to the deterioration in consumer confidence in the second half of 2012/2013. Given the weaker sales performance, the earnings forecast for the HORNBACH HOLDING AG Group and the HORNBACH-Baumarkt-AG subgroup has also been adjusted. Accordingly, the Board of Management now expects operating earnings (EBIT) for the 2012/2013 financial year to fall short of the record figure of Euro 169 million (HORNBACH-Baumarkt-AG subgroup: Euro 128 million) reported for the 2011/2012 financial year.

Further details will be released upon publication of the interim report for the first nine months of 2012/2013 on December 21, 2012 (www.hornbach-gruppe.com).

Contact:
Axel Müller
Investor Relations
Tel. +49-6348-60 2444
axel.mueller@hornbach.com

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