German DIY retailer Hornbach has reported a sharp increase in its sales for the 2022/23 financial year. The company announced that net sales at Hornbach Baumarkt AG rose by 6.3 per cent to EUR 5,843 million between 1 March 2022 and 28 February 2023. On a like-for-like basis and adjusted for currency effects, sales rose by 3.6 per cent.
The group also highlighted its like-for-like growth in the DIY sector, which was up by 28.4 per cent in a three-year comparison. This underlines the significant acceleration of growth during the coronavirus pandemic, according to the company. Online sales declined by a total of 12.8 per cent to EUR 823 million in the 2022/23 financial year (previous year: EUR 944 million). Baumarkt AG's sales area productivity went up by 2.7 per cent to EUR 2,925 per square metre at the end of February 2023.
In Germany, net sales including online trade rose by 2.9 per cent to EUR 2,861 million (previous year: EUR 2,780 million). On a like-for-like basis, growth was 2.4 per cent (previous year: 3.7 per cent). In the eight countries outside Germany, net sales, including online trade, increased by 9.8 per cent to EUR 2,982 million (previous year: EUR 2,716 million). The foreign share of group sales rose from 49.4 per cent to 51.0 per cent. Adjusted for area and currency effects, international sales rose by 4.7 per cent (previous year: 7.3 per cent).
"Against a backdrop of geopolitical uncertainty, persistently high inflation and consumer sentiment at an historic low, the 2022/23 financial year was very challenging for the retail sector. However, demand for DIY products remained at a consistently high level as people continued to prioritise investments in their homes,” said Albrecht Hornbach, CEO of Hornbach Management AG. "We therefore remain confident in our robust business model and continue to invest in our employees, our technology and the expansion of our store network."
As of 28 February 2023, the group operated 171 shops (previous year: 167) and 9 online shops in Europe.