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HORNBACH (HBH) investor relations material
HORNBACH Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary19 Dec, 2025
Executive summary
Net sales for the first nine months reached €5,137.8 million, up 3.8% year-over-year, with Q3 sales at €1,538.7 million (+2.2%), and the Baumarkt subgroup growing 4% and gaining market share in Germany and Europe.
Adjusted EBIT for 9M was €299.5 million, nearly flat compared to the prior year; Q3 adjusted EBIT declined by €7.3 million to €27.3 million due to higher costs.
Four new stores opened, including expansion into Romania, Austria, and a new concept store in Germany; entry into the Serbian market planned with up to eight stores, first opening expected end of 2027.
E-commerce sales rose 8.1% to €625.2 million, now accounting for 12.9% of total sales, with balanced growth in Click & Collect and direct delivery.
Customer footfall increased by 2.8% over nine months, with a slight rise in average ticket size.
Financial highlights
Gross profit increased by 4.1% to €1,784 million, maintaining a stable gross margin of 34.7%.
EBITDA for 9M was €465.3 million, nearly unchanged year-over-year; Q3 EBITDA fell 8.8% to €82.1 million.
Consolidated net income for 9M was €189.1 million, down 4.7% year-over-year; Q3 net income dropped 42.2% to €10.2 million.
Free cash flow after CapEx and dividend was €104.5 million, down from €149.8 million last year, reflecting higher investment.
Personnel costs rose 4.9% to €871 million, mainly due to wage increases and new store staff.
Outlook and guidance
Full-year outlook unchanged: net sales expected at or slightly above €6,200 million, with adjusted EBIT at the prior year’s level (€269.5 million).
CapEx for FY 2025/26 guided up to €230 million, with elevated levels anticipated in coming years due to ongoing expansion.
No further store openings planned for Q4; 176 locations expected by year-end.
Positive outlook for 2026, supported by a 15% year-over-year increase in German building permits.
Guidance reflects continued external challenges and macroeconomic uncertainty.
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Q4 2026 TU23 Mar, 2026
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Frequently asked questions
Hornbach Holding AG & Co. KGaA, develops and operates do-it-yourself megastores with garden centers. The company offers DIY assortment, which includes building materials, tools and equipment, lighting, kitchen supplies, bathroom supplies, gardening supplies and accessories, floor coverings, and security systems; as well as a wide range of garden products that include lawns turf grasses and decorative plants, patio furniture and accessories, leisure pools and spas. It also provides home improvement products under the brands Hornbach; OBI; Beckers; VIGO; Sanit-Plus; Globetrotter; Sonaca; Maurer; Baufarm; Jumbo; ANDERSEN Schlüter-Systeme GmbH fixtures for kitchens in addition to others from the Schluter Group.
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