HORNBACH (HBH) Q2 2027 earnings summary

Executive summary

• Q2 net sales reached €1,813.7m (+7.3% YoY) and adjusted EBIT €124.6m (+12.8%); 6M sales were €3,816.2m (+6.0%) and adjusted EBIT €285.6m (+4.9%).

• Robust demand and market-share gains drove growth across reported European markets, with performance ahead of or matching DIY sector trends.

• Full-year 2026/27 guidance was confirmed amid subdued consumer sentiment and geopolitical uncertainty.

Financial highlights

• Q2 adjusted EBIT was €124.6m (+12.8% YoY); 6M adjusted EBIT was €285.6m (+4.9%), with a 7.5% adjusted EBIT margin.

• 6M gross profit rose 5.0% to €1,320.6m; gross margin was 34.2% in Q2 and 34.6% in 6M, down 0.4 and 0.3 percentage points, respectively.

• 6M consolidated net income was €182.2m (+1.8% YoY), with EPS of €10.93.

• Operating cash flow reached €352.0m; 6M free cash flow after dividends was €194.9m, up 50.4%.

Outlook and guidance

• FY 2026/27 guidance confirmed: sales expected at or slightly above the prior-year level of €6.4bn, with adjusted EBIT at the prior-year level of €264.7m.

• CapEx is expected to be significantly above prior year, weighing on free cash flow; operating cash flow supports continued investment.

• Expansion plans include store openings in Slovakia, Austria and the Netherlands, plus six former HELLWEG locations in Germany.

• Guidance reflects uncertainty from economic, competitive and regulatory factors, geopolitical risks and higher costs.