Hornbach Holding Ag & Co. Kgaa · XETR:HBH
Hornbach Holding Ag & Co. Kgaa — Hornbach Hldg — Q2 2022 Earnings Presentation
19 slides from Hornbach Holding Ag & Co. Kgaa's earnings presentation, Sep 30, 2021
Slide 1: Analyst Call Q2/H1 2021/22
Analyst Call Q2/H1 2021/22 HORNBACH Holding AG & Co. KGaA September 30, 2021 Analyst Call Q2 / H1 2021/22 ©HORNBACH Group 2021 Page 1
Slide 2: HORNBACH is benefitting from the "new normal"
HORNBACH is benefitting from the „new normal“ The pandemic has significantly changed what customers need. 1 People are attaching greater importance to security and physical proximity. Their homes are very important to them and they are prepared to invest in them. People’s need for security is also r
Slide 3: HORNBACH on track to deliver further organic growth
HORNBACH on track to deliver further organic growth High customer satisfaction across Organic network expansion continued E-Commerce sales continue to rise as Europe ▪ 2 new stores opened in Q2 2021/22 Covid restrictions lift ▪ # 1 DIY store in Germany, Austria and ▪ 165 DIY stores in 9 countries as
Slide 4: H1 21/22 Financial Update: Sales and EBIT ahead of previous year after successful Q2
H1 21/22 Financial Update: Sales and EBIT ahead of previous year after successful Q2 Customer demand for construction and DIY projects remains at a high level ▪ Half-year net sales plus 5.1% to € 3,292 m (H1 2020/21: € 3,132 m) ▪ Like-for-like sales plus 3.4% (Germany: plus 0.7%; International: plus
Slide 5: Net sales above previous year's record
Net sales above previous year's record HORNBACH Group net sales in H1 (Mar 1 to Aug 31) ▪ Strong sales growth in Q1 + Q2 driven by on-going in € million strong demand across all product categories ▪ Further significantly disproportionate growth in 3,292 +5.1% online sales (ICR) 3,132 3,085 2,606 2,9
Slide 6: Geographical mix: Solid in Germany and strong international growth
Geographical mix: Solid in Germany and strong international growth HORNBACH Baumarkt Subgroup Like-for-like sales growth1) in % Q1 2020/21 Q2 2020/21 H1 2020/21 Q1 2021/22 Q2 2021/22 H1 2021/22 LFL sales grow in almost all Total 17.5 21.4 19.4 4.3 2.5 3.4 regions despite strong base Ø Open to privat
Slide 7: Further growth in e-commerce amid store reopenings
Further growth in e-commerce amid store reopenings HORNBACH Baumarkt Subgroup Net sales (€ million) from online channels 8.7% 16.7% 20.0% Share of ▪ Online share of total sales (incl. 7.3% 9.6% total sales Click & Collect) increased to 20.0% on a rolling 12-months basis Click & collect Direct delive
Slide 8: Sector outperformance continues in Germany
Sector outperformance continues in Germany Like-for-like sales growth HORNBACH1) vs DIY sector2) in Germany (Calendar Year: Jan – Jun 2021) ▪ Group‘s market share in 29.2 Germany (GfK) climbs to 15.6% 22.9 23.4 24.8 22.7 in H1 2021/22 (H1 2020/21: 13.6%) 14.2 14.1 ▪ Relatively better performance of
Slide 9: HORNBACH winning further market share across Europe
HORNBACH winning further market share across Europe Market shares in Europe in H1 2021 – Large DIY stores >1000 qm Sector gross sales growth in %, market share of HORNBACH in % (Jan – Jun 2021) ▪ HORNBACH gained market share in almost all countries where data is available (except Czech Republic) Net
Slide 10: Adjusted EBIT above previous year's record level
Adjusted EBIT above previous year‘s record level HORNBACH Group Reconciliation H1 2020/21 H1 2021/22 ▪ (Adjusted) EBIT on Group level EBIT (€ m) 335.6 337.2 grew 3.8% in Q2 lifting H1 Non-operating items -0.9 - adjusted EBIT above previous Adjusted EBIT* (€ m) 334.7 337.2 year‘s record level ▪ Profi
Slide 11: HORNBACH Baustoff Union with significant jump in adjusted EBIT
HORNBACH Baustoff Union with significant jump in adjusted EBIT HORNBACH Group Adj. EBIT in H1 HORNBACH Group - Segments HORNBACH Baustoff Union Subgroup in € million HBM: HORNBACH Baumarkt AG HBU: HORNBACH Baustoff Union GmbH HI: HORNBACH Immobilien AG ▪ Adjusted EBIT of HORNBACH Baustoff 307.0 304.
Slide 12: Improved cost structure maintained
Improved cost structure maintained HORNBACH Group: Cost structure in % of net sales Gross margin ▪ Structural decline due to higher 36.7% 36.2% online sales (delivery costs) 35.9% 35.6% 35.4% ▪ Higher purchasing prices in H1 2021/22 not entirely compensated by 29.7% higher selling prices 29.4% 28.6%
Slide 13: Rising Funds from Operations – FCF on pre-Covid level
Rising Funds from Operations – FCF on pre-Covid level HORNBACH Group Cash flow (€ million) H1 2019/20 H1 2020/21 H1 2021/22 Lower cash inflow from Working Cash flow from operating activities 317.3 510.0 374.3 Capital in H1 2021/22 due to: ▪ Exceptionally high order volume in of which: funds from ope
Slide 14: Balance sheet further strengthened (€ million)
Balance sheet further strengthened (€ million) HORNBACH Group ▪ Liquid funds increase by 18% ▪ Shareholders‘ equity further increased to 46.7% ▪ Expansion-related increase in property, plant and equipment ▪ Net financial debt (excl. Lease liabilities) down to € 112.5m and right of use assets (Feb 28
Slide 15: FY 2021/22: Operational and financial outlook
FY 2021/22: Operational and financial outlook Guidance confirmed: Sales and EBIT expected in the upper Operations: 3 DIY store openings planned in H2 third of the guidance range HORNBACH Group HORNBACH Baumarkt Plus 1% to 5% (upper third) Sales 2021/22 (before: ~previous year‘s level) Sales 2020/21
Slide 16: Key Investment Highlights
Key Investment Highlights Business model supported by Competitive advantages Strong operational track positive COVID impact and record structural trends ▪ Increased focus on the home ▪ Organically grown homogeneous ▪ Continuous successful („cocooning“) store network in 9 European expansion in Europe
Slide 17: HORNBACH Sustainability Magazine 2021
HORNBACH Sustainability Magazine 2021 Available at: www.hornbach-holding.com/FinancialReports Previous issues: Analyst Call Q2 / H1 2021/22 ©HORNBACH Group 2021 Page 17
Slide 18: Financial Calendar
Financial Calendar Contact September 30, 2021 Half-Year Financial Report as of August 31, 2021 Investor Relations Analyst Conference of HORNBACH Holding AG & Co. KGaA December 22, 2021 Financial Update Q3 as of November 30, 2021 Axel Müller (+49) 0 63 48 / 60 – 2444 axel.mueller@hornbach.com March 2
Slide 19: Store network
Store network Status: Aug 31, 2021 ▪ 163 „HORNBACH“ DIY megastores in 9 countries Country Number of stores Sales area in sqm ▪ 2 „BODENHAUS“ specialist retail stores in Germany (BHB) Austria 14 168,867 Trollhättan (29.6.2021) Czech Republic 10 142,236 Germany 98 1,067,479 Luxembourg 1 12,087 Netherl