Growth in western Europe

In the recently completed business year (1 March 2009 to 28 February 2010) the Hornbach Group increased its net sales by 3.7 per cent to € 2.853 bn. The Hornbach-Baumarkt-AG sub-group, which had 131 DIY and garden stores in operation in nine countries throughout Europe on the reporting date, increased its net sales by 3.4 per cent to € 2.686 bn. Foreign countries in Europe accounted for 41.3 per cent of the total. This growth was provided by the branches in Germany and western Europe in particular. Sales in Germany went up by 2.8 per cent to € 1.577 bn. Sales in the foreign markets rose by 4.2 per cent to € 1.109 bn following two new openings. Sales were 0.7 per cent up in like-for-like terms and at constant currency rates (unadjusted for currency rate effects: plus 0.3 per cent), and 1.8 per cent up in Germany. On the other hand, like-for-like foreign sales fell at constant currency rates by 0.9 per cent, and by 1.9 per cent without adjustment for currency rate effects.