BORNHEIM (dpa-AFX) - Customers' reluctance to spend is making DIY group Hornbach Holding even more pessimistic about the current financial year. Accordingly, sales in the twelve months to the end of February 2024 are likely to remain slightly below the previous year's figure of just under 6.3 billion euros, as the SDax-listed company announced on Wednesday in Bornheim, Palatinate. Operating profit adjusted for special items (adjusted EBIT) is likely to land at the lower end of the target range already lowered in September.

CEO Albrecht Hornbach had announced a decline of 10 to 25 percent - to around 218 to 261 million euros. Analysts surveyed by the Bloomberg news agency recently assumed an average of 228 million euros.

In the third quarter to the end of November, the Group's turnover shrank by four percent year-on-year to just under 4.9 billion euros. Adjusted operating profit fell by just under two percent to 48.1 million euros. On the bottom line, however, the company earned 29.3 million euros, around ten percent more than in the previous year. Group CEO Hornbach was satisfied despite everything: Times of crisis are good times for DIY enthusiasts and Hornbach has further expanded its market share outside Germany./stw/jsl/he