RSS HORNBACH Group Q3 Net Income Declines; FY Earnings Forecast Remains Unchanged

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 RSS HORNBACH Group Q3 Net Income Declines; FY Earnings Forecast Remains Unchanged

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The HORNBACH Group (HBAPF.PK) announced that its net income before minority interests for the third quarter was 17.7 million euros, a decrease from last year's 29.3 million euros. The earnings per share for HORNBACH Holding were recorded at 1.06 euros, down from 1.76 euros. The adjusted EBIT dropped 28.1% to 34.6 million euros, partially due to necessary increases in salaries. However, sales rose by 1.3%, reaching 1.50 billion euros in the third quarter. The Group has maintained its earnings forecast for the full fiscal year 2024/25.

Erich Harsch, CEO of HORNBACH Baumarkt AG, expressed satisfaction with customer engagement despite the challenging consumer environment and confidence in the results for the upcoming fiscal year. He highlighted the company's strong presence in multiple European nations, which has bolstered their business, and outlined plans for continued organic growth in Europe, identifying promising expansion opportunities. In late February, HORNBACH will reopen its store in Nuremberg, with further openings planned in Germany, Austria, and Romania throughout 2025/26.

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