HORNBACH (HBH) Q4 2025 (Media) earnings summary

Executive summary

• Achieved 3.8% year-over-year revenue growth to €6,434 million in FY 2025/26, meeting or slightly exceeding guidance.

• Maintained strong market position with increased market shares across key European countries, including Germany, Netherlands, Austria, Switzerland, and Czech Republic.

• Continued expansion with new store openings, including the sixth store in Slovakia and plans for Austria, the Netherlands, and Serbia.

• E-commerce sales grew, raising the online share to 12.7% of total sales and online revenue up 7.1% to €771.4 million.

• Stable dividend of €2.40 per share proposed, marking 39 consecutive years of dividend payments.

Financial highlights

• Consolidated net sales rose by €234 million to €6,434 million (+3.8%) compared to the previous year.

• Adjusted EBIT decreased slightly by 1.8% to €264.7 million, remaining within guidance.

• Gross profit margin improved to 35.0% (+0.2 ppt year-over-year) due to product mix and innovation.

• Operating cash flow increased to €374.7 million, fully covering investments.

• Capital expenditure rose 19.9% to €220.4 million, mainly for new stores and modernization.

Outlook and guidance

• FY 2026/27 revenue expected to be at or slightly above prior year (-2% to +6%), with adjusted EBIT forecasted to remain at prior year level (-5% to +5%).

• Planned CAPEX for 2026/27 is €220 million, with further store openings in Austria, the Netherlands, and Serbia.

• Guidance reflects growth ambitions but notes potential negative impacts from geopolitical uncertainties and rising costs.