Hornbach Holding Ag & Co. Kgaa · XETR:HBH
Hornbach Holding Ag & Co. Kgaa — Hornbach Hldg — Q3 2022 Earnings Presentation
18 slides from Hornbach Holding Ag & Co. Kgaa's earnings presentation, Dec 22, 2021
Slide 1: Update Call Q3/9M 2021/22
Update Call Q3/9M 2021/22 HORNBACH Holding AG & Co. KGaA Karin Dohm (CFO) December 22, 2021, 8:30 CET
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: Strong sales development - earnings well ahead of pre-Covid level
HORNBACH Group: Q3/9M 2021/22 Financial Update Strong sales development - earnings well ahead of pre-Covid level Robust customer demand for construction and DIY projects Net sales ahead of previous year‘s record level: Q3 +2.2% to € 1,400m / 9M +4.2% to € 4,693m Continued momentum in online sale
Slide 4: HORNBACH on track to deliver further organic growth
HORNBACH Group: Operational Highlights HORNBACH on track to deliver further organic growth Organic network expansion continued Effective management of Covid pandemic and supply challenges 2 new stores in Q3 2021/22: 2 big box DIY stores (NL, CH) Ramped up ICR capacity in regions affected by Covi
Slide 5: Net sales ahead of previous year's record level in all quarters
HORNBACH Group: Net sales in € million Net sales ahead of previous year‘s record level in all quarters Net sales 9M (Mar 1 – Nov 30, 2021) HORNBACH Group: Net sales per quarter Sales on a significantly higher 2-year change: +25.3% 2-year change: +25.4% +27.4% +22.9% level than pre-Covid 1-year cha
Slide 6: Baumarkt: Like-for-like sales growth in Q1 – Q3 and 9M
HORNBACH Baumarkt: Like-for-like sales growth1) in Q1 – Q3 and 9M Like-for-like sales growth1) in % and stores open to private customers in % 2021/22 Lfl growth delivered in almost all regions, Q1 2020/21 Q2 2020/21 Q3 2020/21 9M 2020/21 Q1 2021/22 Q2 2021/22 Q3 2021/22 9M 2021/22 building on strong
Slide 7: Further growth in e-commerce
HORNBACH Baumarkt: Net sales in € million from online channels Further growth in e-commerce Direct delivery without store contact E-commerce share of total sales (incl. Click & Collect) Direct delivery with store contact 1,063 increased to 20.3% on a rolling 12-months basis Click & Collect 853 E
Slide 8: Sector outperformance continues in Germany
HORNBACH Baumarkt: Like-for-like sales growth1) vs. DIY sector2) in Germany Jan – Sep 2021 Sector outperformance continues in Germany HORNBACH (DE) DIY sector (DE) HORNBACH Baumarkt continues to outperform the broader sector 29.2 23.4 24.8 22.9 22.7 ICR and logistics strategy paid off – especial
Slide 9: HORNBACH Baumarkt winning further market share across Europe
HORNBACH Baumarkt: Market growth and market share development Jan – Sep 2021 HORNBACH Baumarkt winning further market share across Europe Large DIY stores >1000 qm HORNBACH gained market share in almost all countries Sector growth based on gross sales in %, market share of HORNBACH in % where data
Slide 10: Adjusted EBIT well ahead pre-Covid levels
HORNBACH Group: Adj. EBIT1) and adj. EBIT margin in 9M in € million and % Adjusted EBIT well ahead pre-Covid levels Adjusted EBIT on Group level down Adj. EBIT margin: 2.1% in 9M, but up 63.7% compared 6.1% 5.2% 6.4% 8.9% 8.4% to 2019/20 +63.7% Profitability was maintained (2.1%) significantly a
Slide 11: HORNBACH Group Segments
HORNBACH Group: Segments adj. EBIT* in 9M in € million 359.8 HORNBACH Group Segments 347.4 HBM: HORNBACH Baumarkt AG HBU: HORNBACH Baustoff Union GmbH HI: HORNBACH Immobilien AG HORNBACH Baumarkt AG 9M 2020/21 9M 2021/22 Adjusted EBIT at € 347.4m slightly down from previous year, but significantly
Slide 12: Improved cost structure maintained
HORNBACH Group: Cost structure in % of net sales Improved cost structure maintained Gross margin 36.4% 35.8% 35.6% 35.3% 35.1% Impacted by higher level of online sales (delivery costs & product mix) 4.8% 4.8% 4.6% Higher input cost 9M 2021/22 reflected in selling prices 4.0% General and administ
Slide 13: Funds from Operations above previous year
HORNBACH Group: Cash flow 9M in € million Funds from Operations above previous year 9M 2019/20 9M 2020/21 9M 2021/22 Fluctuations of working capital in 9M 2021/22 Cash flow from operating activities 346.9 583.0 407.3 due to: of which: funds from operations 298.9 413.1 424.6 Exceptionally high orde
Slide 14: Guidance as of Dec 7, 2021 confirmed
HORNBACH Group / HORNBACH Baumarkt: Guidance and store openings FY 2021/22 Guidance as of Dec 7, 2021 confirmed HORNBACH Baumarkt: European footprint HORNBACH Group HORNBACH Baumarkt 1 store opening planned in Q4 Sales 2021/22 +2% to +7% Plus 2% to 7% previous: +1% to +5% (upper end) previous: +1% t
Slide 15: Key investment highlights
HORNBACH Group: Building one of Europe’s most attractive home improvement stocks Key investment highlights Structural Attractive Proven organic Strong operational growth foundation customer proposition growth strategy record “Cocooning” and working #1 in customer satisfaction Organically grown
Slide 16: Financial Calendar
HORNBACH Group: Upcoming events Financial Calendar January 6 / 7, 2022 HORNBACH @ ODDO BHF Forum Contact January 12, 2022 HORNBACH @ Commerzbank German Investment Seminar Investor Relations January 19, 2022 HORNBACH @ German Corporate Conference Antje Kelbert (+49) 0 63 48 / 60 – 2444 February 10, 2
Slide 17: Backup
Backup
Slide 18: Strong Balance Sheet
Balance sheet structure in € million Strong Balance Sheet Total Total equity 4,272 4,008 Expansion-related increase in property, 4,008 4,272 assets and liabilities plant and equipment and right of Liquid funds Current liabilities use assets 447 435 804 Shareholders‘ equity further increased to I