Hornbach Holding Ag & Co. Kgaa · XETR:HBH

Hornbach Holding Ag & Co. Kgaa — Hornbach Hldg — Q1 2022/23 Earnings Presentation

22 slides from Hornbach Holding Ag & Co. Kgaa's earnings presentation, Jun 29, 2022

  1. Slide 1: Update Call Q1 2022/23

    Update Call Q1 2022/23 HORNBACH Holding AG & Co. KGaA Karin Dohm (CFO) June 29, 2022, 8:30 a.m. CEST Page 1 Update Call Q1 2022/23 | June 29, 2022 ©HORNBACH Group 2022

  2. 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

  3. Slide 3: HORNBACH Group: Q1 2022/23 Financial Update

    HORNBACH Group: Q1 2022/23 Financial Update Strong sales development – earnings well ahead of pre-Covid levels Overall demand for construction and DIY products has remained steady ▪ Net sales ahead of previous year‘s record level: +8.1% to € 1,813.4m ▪ Online sales share at 15.3% in Q1 2022/23 Earni

  4. Slide 4: HORNBACH on track to deliver further organic growth

    Expansion achievements in Q1 2022/23 HORNBACH on track to deliver further organic growth Organic network expansion continued HORNBACH Group: European footprint (May 31, 2022) ▪ 169 large format DIY stores in 9 countries and 37 builders merchant outlets as of May 31, 2022 ▪ Hornbach Baumarkt opened 2

  5. Slide 5: Net sales in Q1 2022/23 again ahead of previous year's record level

    Net sales in € million Net sales in Q1 2022/23 again ahead of previous year‘s record level Q1 net sales (Mar 1 – May 31) ▪ Strong net sales momentum continues – HORNBACH Baustoff Union driven by steady demand and inflation HORNBACH Baumarkt AG +8% +6% ▪ Net sales HORNBACH Baumarkt subgroup +8.2% +18

  6. Slide 6: Robust like-for-like growth

    HORNBACH Baumarkt: Like-for-like sales growth in % Robust like-for-like growth Like-for-like sales growth1) per quarter in % and stores open to private customers in % Q1 2021/22 Q2 2021/22 Q3 2021/22 Q4 2021/22 FY 2021/22 Q1 2022/23 ▪ Continued like-for-like sales growth in Total 4.3 2.5 (0.1) 20.0

  7. Slide 7: Further growth in E-commerce

    HORNBACH Baumarkt: Net sales in € million from online channels Further growth in E-commerce ▪ E-commerce share of HORNBACH 8.5% 9.7% 14.7% 23.9% 15.3% E-commerce share Baumarkt sales (incl. Click & Collect) at 15.3% in Q1 2022/23 Click & Collect Direct delivery 375 ▪ Click & Collect with a strong de

  8. Slide 8: HORNBACH Baumarkt: Gaining further market share outside Germany

    Market share Jan – Apr 2022 in % HORNBACH Baumarkt: Gaining further market share outside Germany Large DIY stores > 1,000 sqm ▪ HORNBACH further gained market share (GfK) in Market share of HORNBACH Baumarkt in % (GfK) countries outside Germany ▪ Market share in Germany normalized at 14.9% in the pe

  9. Slide 9: Gross margin reflects rising purchasing and transportation costs

    Cost structure in % of net sales and gross margin Gross margin reflects rising purchasing and transportation costs ▪ Gross margin reduced amid a 36.6% 36.2% 35.9% 35.5% challenging market environment 34.2% ▪ Selling and store expenses 30.4% 29.3% Gross margin in % of sales increase slightly due to 4

  10. Slide 10: Adjusted EBIT remains well ahead of pre-Covid levels

    Adjusted EBIT1) in € million and adj. EBIT margin in % Adjusted EBIT remains well ahead of pre-Covid levels ▪ Resilient group profitability despite Adjusted EBIT margin Q1: higher purchasing and shipping costs 6.4% 7.2% 11.0% 10.1% 8.2% ▪ Adjusted EBIT on Group level down 12.3% Q3 in Q1 2022/23 and

  11. Slide 11: Funds from operations remain on a high level

    Q1 2022/23 cash flow in € million Funds from operations remain on a high level Q1 2019/20 Q1 2020/21 Q1 2021/22 Q1 2022/23 ▪ Decline in operating cashflow mainly working Cash flow from operating 142.6 386.6 238.3 175.6 capital related (higher inventories) activities ▪ Funds from operations remain si

  12. Slide 12: Strong balance sheet structure

    Balance sheet in € million Strong balance sheet structure Assets Equity & Liabilities 4,507 4,507 ▪ Increase in inventories by € 59m due 4,306 4,306 332 446 Liquid funds to higher stock levels 1,133 Current liabilities Inventories. 1,079 ▪ Additions to property, plant and 1,395 1,459 accounts receiv

  13. Slide 13: Outlook for FY 2022/23

    Guidance and store openings Outlook for FY 2022/231) 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 € 362.6m

  14. Slide 14: Q&A

    Q&A Page 14 Update Call Q1 2022/23 | June 29, 2022 ©HORNBACH Group 2022

  15. Slide 15: Upcoming events & contact

    Upcoming events & contact Financial Calendar June 30, 2022 Roadshow in London Investor Relations contact July 8, 2022 Annual General Meeting of HORNBACH Holding AG & Co. KGaA (virtual) Antje Kelbert (+49) 0 63 48 / 60 – 2444 September 8, 2022 ODDO BHF / Commerzbank Corporate Conference, Frankfurt /

  16. Slide 16: Backup

    Backup Page 16 Update Call Q1 2022/23 | June 29, 2022 ©HORNBACH Group 2022

  17. Slide 17: Key investment highlights

    HORNBACH – one of Europe’s most attractive home improvement stocks Key investment highlights Efficient and Attractive customer Proven growth Structural scalable set up proposition strategy growth foundation ▪ Organically grown network of ▪ Focus on project and ▪ Ongoing physical expansion: ▪ “Cocoon

  18. Slide 18: 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 AT DE DE CH CH NL CH RO DE LU 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 2,559 2,467 1,582 Adeo

  19. Slide 19: Financial debt maturity profile as of May 31, 2022

    Financial debt maturity profile as of May 31, 2022 (€ million) May 31, 2022 Feb 28, 2022 291.5 292.2 116.3 226.0 357.9 414.3 1,698.1 1,688.3 Total financial debt 446.1 332.3 Cash and cash equivalents 1,252.0 1,356.0 Net financial debt 549.7 564.9 EBITDA (LTM) 2.3 2.4 Net debt / EBITDA 100.8 96.9 95.

  20. Slide 20: Decline in adjusted EBIT mainly from Baumarkt segment

    Segment adj. EBIT in € million and segment adjusted EBIT margin in % Decline in adjusted EBIT mainly from Baumarkt segment 9.8% 7.8% 5.2% 4.7% 72.1% 72.5% adj. EBIT margin ▪ Adjusted EBIT of HORNBACH Baumarkt down 13.1%, but up 58.9% compared to 2019/20 -13.1% ▪ HORNBACH Baustoff only slightly below

  21. Slide 21: 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

  22. Slide 22: 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

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