HORNBACH Group reports lower Q3 net income but maintains full year earnings forecast

From Nasdaq: 2024-12-20 01:21:26

HORNBACH Group reported a decrease in net income before minority interests for the third quarter, with earnings per share also down. Adjusted EBIT was lower due to necessary salary raises, but sales increased by 1.3%. The Group’s earnings forecast for the full year 2024/25 remains unchanged.

CEO Erich Harsch expressed satisfaction with customer engagement despite challenges, highlighting opportunities for expansion in Europe. Store reopenings and openings in Germany, Austria, and Romania are planned for 2025/26.

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Read more at Nasdaq: HORNBACH Group Q3 Net Income Declines; FY Earnings Forecast Remains Unchanged