Although consolidated sales - DIY stores, building materials and holding company - improved by 7.5 per cent to EUR 1.006 bn in the third quarter, the increase in gross profit did not match the growth in sales. This was due to the rise in procurement prices, which could not be offset by higher retail prices in the competitive environment. At the same time, the sales forecast continues to envisage growth in the medium single-digit percentage range.
Drop in earnings
Third quarter adversely affects Hornbach’s profits
Although consolidated sales - DIY stores, building materials and holding company - improved by 7.5 per cent to EUR 1.006 bn in the third quarter, the increase in gross profit did not match the growth in sales. This was due to the rise in procurement prices, which could not be offset by higher retail prices in the competitive environment. At the same time, the sales forecast continues to envisage growth in the medium single-digit percentage range.