Hornbach underlines its sustainable success

9/30/2010, 11:00 AM (Source: GlobeNewswire)
HORNBACH HOLDING AG / Hornbach underlines its sustainable success processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.

DIY company presents figures for first half of 2010/2011:
Sales up 3.6 percent, Group operating earnings up 7.6 percent -
Slight increase in earnings forecast announced



Frankfurt am Main/Neustadt a. d. Weinstrasse, September 30, 2010. The Hornbach
Group has presented pleasing half-year figures. Sales at the Hornbach Holding AG
Group grew 6.5 percent to Euro 830.1 million in the second quarter, and by
3.6 percent to Euro 1.66 billion in the first half of the financial year
(March 1 to August 31, 2010). On a like-for-like basis, i.e. excluding sales at
newly opened stores, Hornbach's sales were 3.7 percent higher in the second
quarter and 0.8 percent higher in the first half as a whole. Earnings at the
Group rose even faster than sales. Operating earnings (EBIT) showed
disproportionate growth compared with sales, rising 14.0 percent to
Euro 80.4 million in the second quarter, and by 7.6 percent to
Euro 140.0 million in the first half.



Similarly positive were the results at Hornbach-Baumarkt-AG. This subgroup, the
largest company within the Group, operates 131 DIY megastores with garden
centers in nine countries across Europe, of which 92 stores are located in
Germany. The subgroup's sales grew 6.5 percent to Euro 775.3 million in the
second quarter, and by 3.5 percent to Euro 1.55 billion in the first half.
Operating earnings (EBIT) amounted to Euro 67.9 million for the period from June
to August (+15.6%), and to Euro 117.5 million for the past six months as a whole
(+8.5%).



DIY stores and builders' merchant business head-to-head in terms of sales and
earnings growth



"There are three reasons why I am satisfied with our business performance",
commented Albrecht Hornbach, Chairman of the Board of Management of Hornbach
Holding AG, at a press conference in Frankfurt. "Firstly, the trend is positive
and sales are on the increase. Secondly, the momentum driving this growth came
both from Germany and from our stores in other European countries. And thirdly,
both the DIY stores and the builders' merchant outlets have delivered improved
earnings, thus contributing to the pleasing performance of the overall
business." After all, Hornbach Baustoff Union GmbH (HBU) also maintained its
growth, increasing its sales 7.1 percent in the second quarter and 5.5 percent
in the first half.



The Hornbach Group is on the one hand upholding its sales forecast, which
foresees growth in a low to medium single-digit percentage range both at the
overall Group and at the Baumarkt subgroup. On the other hand, the Group has
raised its earnings forecast due to the positive first-half earnings performance
and its more favorable assessment of macroeconomic data in the nine European
countries with Hornbach stores. Operating earnings are expected to slightly
exceed the level reported for the 2009/2010 financial year, for which the
overall Group posted EBIT of Euro 151 million. The Board of Management had
previously still expected EBIT to fall slightly shorter of the previous year's
figure.



The Hornbach Group can also point to highly solid key balance sheet figures as
of August 31, 2010. Its equity ratio amounts to 41.8% (balance sheet date as of
February 28, 2010: 42.4%). The Group's net financial debt has reduced from
€ 422.6 million to € 250.9 million. The overall Group has almost
13,600 employees in total at present. Three new DIY megastores with garden
centers are currently being built in the Netherlands (Breda), Romania
(Bucharest) and the Czech Republic (Plzen).



European leader for FSC-certified timber



Albrecht Hornbach pointed out that the Hornbach Group was very actively
committed to sustainability. "All of the timber in the items in our product
range comes from proven sustainable and socially responsible forestry." With
more than 4,500 FSC-certified products, Hornbach is Europe's leading DIY player
in this respect. FSC stands for Forest Stewardship Council. The FSC seal
guarantees that the timber sold meets the strictest social and ecological
criteria. On September 23, 2010, FSC International, the superordinate global
federation of national FSC associations, awarded Hornbach-Baumarkt-AG the FSC
Global Partner Award in the retail sector for its commitment to protecting rain
forests and upholding social standards in international forestry. Hornbach is
thus one of the first retail companies worldwide to receive this prize. "With
our guiding principles, our commitment to society, and our long-term approach to
our business activities and their social implications, we are the top German DIY
player when it comes to sustainability. We aim to provide a role model for
others and to show that even medium-sized family-driven companies can make a
great difference in terms of environmental protection and other issues relevant
to society", remarked Albrecht Hornbach.





Note:

Key figures for the second quarter and the first half of 2010/2011 can be found
as follows. The extensive Half-Year Financial Reports 2010/2011 of HORNBACH
HOLDING AG and HORNBACH-Baumarkt-AG can be downloaded from the internet at:
www.hornbach-group.com/reports.





Key Figures for 2(nd) Quarter/1(st) Half of 2010/2011 at a Glance



+------------------------------------------+-------------+-------------+------+
| HORNBACH HOLDING AG Group |2(nd) Quarter|2(nd) Quarter|Change|
| | | | |
| (in € million, unless otherwise stated) | 2010/2011| 2009/2010| %|
+------------------------------------------+-------------+-------------+------+
| Net sales |  830.1|  779.4|  6.5|
+------------------------------------------+-------------+-------------+------+
| Gross margin as % of net sales |  36.5%|  35.7%|   |
+------------------------------------------+-------------+-------------+------+
| EBITDA |  97.3|  88.4|  10.1|
+------------------------------------------+-------------+-------------+------+
| Earnings before interest and taxes (EBIT)|  80.4|  70.5|  14.0|
+------------------------------------------+-------------+-------------+------+
| Consolidated earnings before taxes |  73.1|  60.8|  20.1|
+------------------------------------------+-------------+-------------+------+
| Consolidated net income (1)) |  54.0|  41.1|  31.3|
+------------------------------------------+-------------+-------------+------+
| Earnings per preference share in € |  5.38|  4.15|  29.6|
+------------------------------------------+-------------+-------------+------+
| Investments |  24.2|  26.1| (7.4)|
+------------------------------------------+-------------+-------------+------+



+------------------------------------------+----------+----------+-------+
| HORNBACH HOLDING AG Group |1(st) Half|1(st) Half| Change|
| | | | |
| (in € million, unless otherwise stated) | 2010/2011| 2009/2010| %|
+------------------------------------------+----------+----------+-------+
| Net sales |  1,656.8|  1,599.2|  3.6|
+------------------------------------------+----------+----------+-------+
| Gross margin as % of net sales |  36.7%|  36.0%|   |
+------------------------------------------+----------+----------+-------+
| EBITDA |  173.7|  165.5|  5.0|
+------------------------------------------+----------+----------+-------+
| Earnings before interest and taxes (EBIT)|  140.0|  130.1|  7.6|
+------------------------------------------+----------+----------+-------+
| Consolidated earnings before taxes |  126.0|  111.2|  13.3|
+------------------------------------------+----------+----------+-------+
| Consolidated net income (1)) |  91.8|  78.2|  17.4|
+------------------------------------------+----------+----------+-------+
| Earnings per preference share in € |  9.11|  7.84|  16.2|
+------------------------------------------+----------+----------+-------+
| Investments |  43.6|  64.9| (32.9)|
+------------------------------------------+----------+----------+-------+


+-------------------------------------+---------------+-----------------+------+
| Misc. key figures of the HORNBACH |August 31, 2010|February 28, 2010|Change|
|HOLDING AG Group | | | |
| | | | |
| (in € million, unless otherwise |  |  | %|
|stated) | | | |
+-------------------------------------+---------------+-----------------+------+
| Total assets |  2,267.3|  2,032.9|  11.5|
+-------------------------------------+---------------+-----------------+------+
| Shareholders' equity |  947.5|  861.5|  10.0|
+-------------------------------------+---------------+-----------------+------+
| Shareholders' equity as % of total | | | |
|assets |  41.8%|  42.4%|   |
+-------------------------------------+---------------+-----------------+------+
| Number of employees |  13,596|  13,214|  2.9|
+-------------------------------------+---------------+-----------------+------+







+------------------------------------------+-------------+-------------+------+
| HORNBACH-Baumarkt-AG subgroup |2(nd) Quarter|2(nd) Quarter|Change|
| | | | |
| (in € million, unless otherwise stated) | 2010/2011| 2009/2010| %|
+------------------------------------------+-------------+-------------+------+
| Net sales |  775.3|  728.1|  6.5|
+------------------------------------------+-------------+-------------+------+
| of which: in other European countries |  327.1|  302.2|  8.2|
+------------------------------------------+-------------+-------------+------+
| Like-for-like sales growth (2)) |  3.7%|  1.9%|   |
+------------------------------------------+-------------+-------------+------+
| Gross margin as % of net sales |  37.3%|  36.5%|   |
+------------------------------------------+-------------+-------------+------+
| EBITDA |  81.2|  72.6|  11.8|
+------------------------------------------+-------------+-------------+------+
| Earnings before interest and taxes (EBIT)|  67.9|  58.7|  15.6|
+------------------------------------------+-------------+-------------+------+
| Consolidated earnings before taxes |  64.5|  53.0|  21.7|
+------------------------------------------+-------------+-------------+------+
| Consolidated net income |  46.6|  35.5|  31.5|
+------------------------------------------+-------------+-------------+------+
| Basic earnings per share in € |  2.93|  2.25|  30.2|
+------------------------------------------+-------------+-------------+------+
| Investments |  15.4|  14.9|  3.7|
+------------------------------------------+-------------+-------------+------+



+------------------------------------------+----------+----------+-------+
| HORNBACH-Baumarkt-AG subgroup |1(st) Half|1(st) Half| Change|
| | | | |
| (in € million, unless otherwise stated) | 2010/2011| 2009/2010| %|
+------------------------------------------+----------+----------+-------+
| Net sales |  1,555.2|  1,502.9|  3.5|
+------------------------------------------+----------+----------+-------+
| of which: in other European countries |  653.4|  614.9|  6.3|
+------------------------------------------+----------+----------+-------+
| Like-for-like sales growth (2)) |  0.8%|  1.7%|   |
+------------------------------------------+----------+----------+-------+
| Gross margin as % of net sales |  37.5%|  36.6%|   |
+------------------------------------------+----------+----------+-------+
| EBITDA |  143.6|  135.8|  5.8|
+------------------------------------------+----------+----------+-------+
| Earnings before interest and taxes (EBIT)|  117.5|  108.3|  8.5|
+------------------------------------------+----------+----------+-------+
| Consolidated earnings before taxes |  111.4|  97.4|  14.4|
+------------------------------------------+----------+----------+-------+
| Consolidated net income |  80.3|  68.5|  17.2|
+------------------------------------------+----------+----------+-------+
| Basic earnings per share in € |  5.05|  4.35|  16.1|
+------------------------------------------+----------+----------+-------+
| Investments |  27.1|  42.3| (35.9)|
+------------------------------------------+----------+----------+-------+


+-------------------------------------+---------------+-----------------+------+
| Misc. key figures of the |August 31, 2010|February 28, 2010|Change|
|HORNBACH-Baumarkt-AG subgroup | | | |
| | | | |
| (in € million, unless otherwise |  |  | %|
|stated) | | | |
+-------------------------------------+---------------+-----------------+------+
| Total assets |  1,637.4|  1,439.4|  13.8|
+-------------------------------------+---------------+-----------------+------+
| Shareholders' equity |  729.2|  654.7|  11.4|
+-------------------------------------+---------------+-----------------+------+
| Shareholders' equity as % of total | | | |
|assets |  44.5%|  45.5%|   |
+-------------------------------------+---------------+-----------------+------+
| Number of stores |  131|  131|  0.0|
+-------------------------------------+---------------+-----------------+------+
| Sales area in 000 m² (based on BHB) |  1,482|  1,480|  0.1|
+-------------------------------------+---------------+-----------------+------+
| Number of employees |  12,973|  12,640|  2.6|
+-------------------------------------+---------------+-----------------+------+





(1))        pursuant to IFRS including minority interests
(2))        currency-adjusted
Rounding up or down may lead to discrepancies between percentages and totals.
Calculation of percentage figures based on € 000s.





Investor Relations

Axel Müller

Tel: (+49) 0 63 48/ 60 - 2444

Fax: (+49) 0 63 48/ 60 - 4299

E-Mail: invest@hornbach.com




[HUG#1447679]



--- End of Message ---

HORNBACH HOLDING AG
Le Quartier Hornbach 19 Neustadt an den Weinstraße Germany

WKN: 608343;ISIN: DE0006083439;
Listed: Prime Standard in Frankfurter Wertpapierbörse,
Regulierter Markt in Frankfurter Wertpapierbörse;


Half-Year Financial Report 2010/2011 HORNBACH HOLDING AG Group:
http://hugin.info/130429/R/1447679/390285.pdf

Press Release H1 2010/2011:
http://hugin.info/130429/R/1447679/390287.pdf

Half-Year Financial Report 2010/2011 HORNBACH-Baumarkt-AG Group:
http://hugin.info/130429/R/1447679/390286.pdf




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