Hornbach increases sales and operating profit despite rising costs
Translated from German and summarized by DistantNews. Read the original for the full story.
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- Hornbach Holding reported preliminary second-quarter net sales of about €1.8 billion, up roughly 7% from a year earlier.
- Adjusted earnings before interest and taxes rose 13% to nearly €125 million despite continued cost pressure.
- The home-improvement retailer confirmed its annual forecast, and its SDax-listed shares gained 4% on Tradegate after the update.
Hornbach Holding reported robust demand in its second quarter, which ended in August, despite rising costs. Preliminary figures showed net sales up about 7% to €1.8 billion.
The company said a calendar effect also helped, giving it 1.3 additional selling days. Adjusted earnings before interest and taxes increased 13% to nearly €125 million, even as cost pressures continued.
Hornbach confirmed its full-year forecast. The company plans to publish detailed results on September 29. Investors reacted positively, sending the SDax-listed shares up 4% on the Tradegate trading platform compared with the Xetra close.
About this summary
Originally published by Die Zeit in German. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.
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