HORNBACH Baumarkt (HBM) Investor presentation summary

Business profile and customer proposition

• Retail operations span 9 countries, with 175 DIY stores, 5 flooring stores and 10 online shops; the Baumarkt segment accounts for 95% of Group sales.

• Customer proposition centers on project-focused ranges, more than 50,000 in-store SKUs, everyday low prices, expert advice and services for DIY and professional customers.

• Omnichannel services include Click & Collect, direct delivery and online returns; web shops recorded more than 350m visits in 2025/26, and e-commerce reached 13.5% of retail sales in 6M 2026/27.

• Around 62% of retail space is owned, with average selling space of ~12,000 sqm and more than 2m sqm of total retail space.

Growth opportunities

• Renovation demand is supported by ageing buildings, energy-efficiency needs and demographic change; ~85% of Europe’s building stock is over 20 years old.

• DIY stores represent 9% of Germany’s €280bn home improvement market, with potential to expand through professional services, do-it-for-me offerings and specialist formats.

• Serbia expansion targets 6–8 locations; first openings are planned no earlier than end-2027, with €25m–€40m investment per location.

• Six former Hellweg locations are due to transfer on Dec. 1, 2026, with reopening planned for spring 2027; limited CAPEX is expected, alongside higher pre-opening costs and inventories in Q4.

First-half performance

• 6M 2026/27 net sales rose 6.0% to €3,816.2m; like-for-like sales grew 4.0%, gross profit increased 5.0% to €1,320.6m, and gross margin was 34.6%, down 0.3 ppt.

• Adjusted EBIT increased 4.9% to €285.6m; Baumarkt sales rose 5.9%, with Germany up 3.8% and Other Europe up 7.7%.

• Footfall increased 3.5% and average basket 1.9%; market share rose in Germany, the Netherlands, Czechia, Switzerland and Austria through Jan–Jul 2026.

• Selling and store costs declined as a share of sales despite higher operating and expansion-related personnel costs; total personnel costs rose 4.9% to €609m.