The HORNBACH Holding, a heavyweight in the home improvement store sector, had to accept a slight decline in revenue for the fiscal year 2023/2024, while operating results fell more sharply. Despite reduced consumer spending and a dismal macroeconomic situation, particularly in Germany, the SDax-listed company has recorded a share price increase of over ten percent since the beginning of the year. CEO Albrecht Hornbach sees positive signs, such as the easing inflation and favorable weather conditions at the start of the spring season.

CFO Karin Dohm Highlights Implemented Cost-Saving Measures and Efficiency Improvements. The Group Has Reduced Costs Through IT Investments and Has Not Refilled All Vacant Positions. An Adjustment of Inventory Levels, Which Were Built Up in Response to Stressed Supply Chains in Previous Years, Also Contributed to Cost Reduction.

The Geopolitical Situation and Developments, Such as Attacks on Cargo Ships in the Red Sea, Are Being Closely Monitored, But Currently Have No Direct Impact on HORNBACH's Business. The Focus is on Existing Properties and Not on New Constructions, With Renovation, Modernization, and Refurbishment Being the Priority.

The company's revenue fell by 1.6 percent year on year to 6.16 billion euros, while the adjusted operating result decreased by 12.4 percent to 254 million euros. Analyst Thilo Kleibauer from Warburg Research views the operating result more positively than expected despite the declining revenue and anticipates a good start to the new fiscal year, also thanks to weather conditions. Detailed results of the fiscal year and a forecast for the future will be published on May 22.