Hornbach Holding Ag & Co. Kgaa · XETR:HBH
Hornbach Holding Ag & Co. Kgaa — Hornbach Hldg — Q3 2023 Earnings Presentation
24 slides from Hornbach Holding Ag & Co. Kgaa's earnings presentation, Dec 22, 2022
Slide 1: Update Call Q3/9M 2022/23
Update Call Q3/9M 2022/23 HORNBACH Holding AG & Co. KGaA Karin Dohm (CFO) December 22, 2022, 8:30 a.m. CET Page 1 Investor Presentation | December 2022 ©HORNBACH Group 2022 20221222
Slide 2: Disclaimer
Disclaimer This document has been prepared by HORNBACH Holding AG & Co. KGaA (the “Company”, and together with its consolidated subsidiaries, the “HORNBACH Group”) solely for informational purposes. This disclaimer shall apply in all respects to the entire presentation, including any oral presentati
Slide 3: Continued high demand – guidance reconfirmed
HORNBACH Group: Financial Update 9M 2022/23 Continued high demand – guidance reconfirmed Overall demand for construction and DIY products remained steady ▪ Net sales ahead of previous year‘s record level • Q3 2022/23 net sales +10.4% to € 1,546m • 9M 2022/23 net sales +6.7% to € 5,010m ▪ Online sale
Slide 4: HORNBACH expansion on track – focus on employees
Operational Highlights HORNBACH expansion on track – focus on employees Expansion continued according to plan in 9M 2022/23 Focus on employees ▪ HORNBACH Baumarkt opened new stores in Nitra (Slovakia), Enschede ▪ Reconciling work and private life: (Netherlands), Constanta (Romania) • Germany: Launch
Slide 5: Net sales in Q3 2022/23 significantly ahead of previous year's record level
Net sales in € million Net sales in Q3 2022/23 significantly ahead of previous year‘s record level Net sales (9M: Mar 1 – Nov 30 / Q3: Sep 1 – Nov 30) ▪ Continued sales growth from good like-for-like performance and expansion ▪ Net sales HORNBACH Baumarkt subgroup +6.4% HORNBACH Baustoff Union • Ger
Slide 6: Strong like-for-like growth in Q3 2022/23
HORNBACH Baumarkt: Like-for-like sales growth in % Strong like-for-like growth in Q3 2022/23 ▪ Acceleration of LFL performance in Like-for-like sales growth1) per quarter and 9 months in % Q3 2022/23 driven by robust demand amid Q1 2022/23 Q2 2022/23 Q3 2022/23 9M 2022/23 3-year LFL2) inflation Tota
Slide 7: HORNBACH Baumarkt: Strong market share in DIY retailing across Europe
Market share Jan – Oct 2019 and 2022 in % HORNBACH Baumarkt: Strong market share in DIY retailing across Europe Large DIY stores > 1,000 sqm ▪ Market share in Germany increased from 13.2% Market share of HORNBACH Baumarkt in % (GfK) – Jan to Oct in 2019 to 14.9% in 2022 on the back of a successful I
Slide 8: E-commerce significantly ahead of pre-pandemic levels
HORNBACH Baumarkt: Net sales in € million from online channels E-commerce significantly ahead of pre-pandemic levels 8.8% 9.7% 13.2% 17.6% 14.5% E-commerce share1) ▪ E-commerce share of HORNBACH Click & Collect Direct delivery +37% -12% Baumarkt sales (incl. Click & Collect) at 769 14.5% in 9M 2022/
Slide 9: Gross margin reflects risen purchase prices and transportation costs
Cost structure in % of net sales and gross margin in % Gross margin reflects risen purchase prices and transportation costs ▪ Gross margin impacted by challenging 35.8% 35.6% 35.3% 35.1% market environment with higher purchasing 33.3% and transportation costs 30.8% 29.6% Gross margin ▪ Selling and s
Slide 10: Adjusted EBIT remains ahead of pre-Covid levels
Adjusted EBIT1) in € million and adjusted EBIT margin in % Adjusted EBIT remains ahead of pre-Covid levels ▪ Solid Group profitability despite higher Adjusted EBIT and adjusted EBIT margin 9M: purchasing and shipping costs 5.2% 6.4% 8.9% 8.4% 6.5% ▪ Adjusted EBIT on Group level down 17.0% 180.6 240.
Slide 11: Further key earnings figures significantly above pre-Covid levels
Earnings before taxes and net income in € million Further key earnings figures significantly above pre-Covid levels ▪ Earnings before taxes decreased by 17.5% to € 297.2m EPS € 6.26 € 8.02 € 13.72 € 13.66 € 13.08 ▪ Tax rate at 24.6% in 9M 2022/23 369 (9M 2021/22: 23.9%) EBT 360 Net income ▪ Net inco
Slide 12: Funds from operations remain on a high level
Cash flow in € million Funds from operations remain on a high level 9M 2019/20 9M 2020/21 9M 2021/22 9M 2022/23 ▪ Decline in operating cash flow mainly Cash flow from operating driven by working capital 346.9 583.0 407.3 278.6 activities ▪ Funds from operations remain significantly above of which: f
Slide 13: Strong balance sheet structure
Balance sheet in € million Strong balance sheet structure Assets Equity & Liabilities ▪ Additions to property, plant and 4,533 4,533 equipment and right-of-use assets 4,306 4,306 363 Liquid funds of € 91m 332 1,022 Current liabilities Inventories. 1,079 ▪ Increase in inventories by € 55m due 1,488 a
Slide 14: Outlook for FY 2022/23 confirmed
Guidance and store openings Outlook for FY 2022/23 confirmed1) HORNBACH Baumarkt: Store openings in 2022/23 Net sales 2022/23 Slightly above 2021/22 Net sales 2021/22 € 5,875m Below 2021/22 in a low double-digit Adjusted EBIT 2022/23 Enschede 30/03/2022 percentage range Leipzig Adjusted EBIT 2021/22
Slide 15: New HORNBACH Holding Website launched on December 8, 2022
New HORNBACH Holding Website launched on December 8, 2022 www.hornbach-group.com Page 15 Investor Presentation | December 2022 ©HORNBACH Group 2022
Slide 16: Upcoming events & contact
Upcoming events & contact Financial Calendar Investor Relations contact Antje Kelbert January 5, 2023 ODDO BHF Forum 2023, Lyon (+49) 0 63 48 / 60 – 2444 antje.kelbert@hornbach.com January 9-10, 2023 ODDO BHF / Commerzbank German Investment Seminar, New York January 16, 2023 Kepler Cheuvreux / Unicr
Slide 17: Backup
ACKUP Page 17 Investor Presentation | December 2022 World Class Forum©HORNBACH Group 2022 CO2, 30.09.2022
Slide 18: Key figures: 10-year overview
Key figures: 10-year overview In € million unless otherwise stated 2021/22 2020/21 2019/20 2018/19 2017/18 2016/17 2015/16 2014/15 2013/14 2012/13 Net sales 5,875 5,456 4,729 4,362 4,141 3,941 3,755 3,572 3,369 3,229 of which in Germany 3,149 2,985 2,536 2,376 2,312 2,262 2,223 2,172 2,035 1,949 of
Slide 19: HORNBACH Baumarkt: 5th largest DIY store operator in Europe
HORNBACH Baumarkt: 5th largest DIY store operator in Europe RO RO AT AT LU AT NL SE SE AT DE CH CH NL CH RO DE CZ CZ SE CZ SE LU DE DE SK DE SK SK LU Presence of competitors in HORNBACH business regions Sales (net) in € m (2021) 25,538 15,424 7,244 6,042 5,496* 4,002 3,386 3,040 2,559 2,467 Adeo Kin
Slide 20: Higher dividend paid for financial year 2021/22
Dividend per share in € and EPS in € Higher dividend paid for financial year 2021/22 Total Shareholder Return 2021/22: 52.9% Dividend 12.48 14.00 Dividend policy EPS 12.00 ▪ Sustainable pay-outs: 10.00 Continuous dividend payments 8.00 since IPO 1) 6.00 ▪ Stable dividend: Pay-out at least at previou
Slide 21: Decline in adjusted EBIT from Baumarkt segment
Segment adj. EBIT in € million and segment adjusted EBIT margin in % Decline in adjusted EBIT from Baumarkt segment 7.9% 6.0% 5.6% 5.3% 71.6% 70.9% adj. EBIT margin ▪ Adjusted EBIT of HORNBACH Baumarkt down 19.6% vs. 9M 2021/22 9M 2021/22 ▪ HORNBACH Baustoff above previous year’s record level by +6.
Slide 22: Financial debt maturity profile in € million as of November 30, 2022
Financial debt maturity profile in € million as of November 30, 2022 Nov 30, 2022 Feb 28, 2022 272.1 243.7 152.1 432.9 159.2 488.0 1,747.9 1,688.3 Total financial debt Mortgage loans 363.3 332.3 Cash and cash equivalents Other bank debt 488 Financial derivatives 1,384.6 1,356.0 Net financial debt 43
Slide 23: Stationary store closures for private customers
Stationary store closures for private customers Country Overview of restrictions No. of stores Germany 1 Mar to 6 Jun 2021: Incidence-based closures for private customers of on average half of the store network – gardening 98 section mostly open 22 Nov 2021 to 18 Feb 2022: Proof of vaccination or re
Slide 24: Page 24 Investor Presentation | December 2022 ©HORNBACH Group 2022
Page 24 Investor Presentation | December 2022 ©HORNBACH Group 2022