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First-quarter earnings in 2005/2006 significantly down on previous year (Ad Hoc Announcement)
NEUSTADT / Weinstrasse, June 13, 2005.
The earnings performance of the HORNBACH HOLDING AG Group was unsatisfactory in the first quarter of the current financial year (March 1 - May 31, 2005). This is principally due to sales at the HORNBACH-Baumarkt-AG subgroup falling short of expectations on account of poor weather conditions and to a year-on-year decline in the gross margin.
On the basis of initial preliminary figures, the earnings of the HORNBACH HOLDING AG Group for the first quarter of 2005/2006 are significantly down on the previous year:
EBITDA: € 57m (minus 16 %)
EBIT: € 40m (minus 22 %)
Earnings before taxes: € 29m (minus 30 %)
Consolidated sales (net) rose by 5.4 % to € 651 million in the first quarter of 2005/2006 (previous year: € 618m). Like-for-like sales at the DIY megastores with garden centers declined by 0.5 %. Germany reported a decline of 1.3 % in comparable store sales in the first three months, while the international HORNBACH DIY megastores with garden centers witnessed growth of 1.2 %. The like-for-like sales growth reported for the months of April and May was not sufficient to compensate for the loss of sales in March due to the wet and cold weather conditions.
The detailed report on the first quarter of 2005/2006 will be published at the Annual Press Conference on June 24, 2005.
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