Q2 2025 HORNBACH Holding AG & Co KgaA Earnings Call Transcript
Key Points
- HORNBACH Holding AG and Co KGaA (XTER:HBH) delivered a solid performance in the first six months of the fiscal year, with stable sales at EUR3.46 billion and increased market shares in several countries.
- Gross margin increased to 34.9%, a rise of 1.6 percentage points, reflecting normalized core commodity prices and a healthier product mix.
- Adjusted EBIT came in at EUR265 million, significantly stronger than the previous year's first half.
- Earnings per share stood at EUR10.78, approximately 38% above the prior year period.
- Customer satisfaction remains high, with top rankings in customer service surveys in Germany and the Netherlands.
- Macroeconomic uncertainty and inflation have pressured consumer demand, resulting in weaker spending across home improvement projects.
- Net sales at the subgroup HORNBACH Baustoff Union decreased by 7.3%, reflecting ongoing weakness in the German construction sector.
- Average ticket sizes were slightly down year-on-year, indicating continued softness in large projects and discretionary spending.
- The company faces a subdued consumer sentiment, leading to an overall softness in spending, particularly for larger projects.
- Despite the positive performance, the forecast for the full year remains cautious, with expectations of sales and adjusted EBIT only slightly above the previous year.
Good morning and welcome to our update call for the second quarter and first half of 2024, '25 fiscal year of HORNBACH Holding. My name is Antje Kelbert and I'm the Head of our Investor Relations team. Joining us today is Karin Dohm, our CFO who will take you through some highlights and details of our six months.
Before I hand over to Karin, let me remind you that the entire conference call including the Q& A session will be recorded and made available with the transcript on the company's website. (Event Instructions)
Please also take note of this disclaimer which is valid for the entire presentation and for the Q&A session. And now Karin, I hand over to you.
Thank you, Antje. Good morning and a warm welcome from my side. Thank you for joining.
As you saw, we delivered a solid performance in the first six months of our
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