HORNBACH Baumarkt (HBM) Q4 25/26 earnings summary

Executive summary

• Group sales for FY 2025/26 reached €6,433.9m, up 3.8% year-over-year, with adjusted EBIT at €264.7m, down 1.8% from the previous year.

• Like-for-like sales grew 2.4% for the year, with strong performance in the Netherlands and other European markets.

• Market share expanded in Germany and across Europe, with notable gains in the Netherlands, Czechia, and Switzerland.

• E-commerce share of net sales increased to 12.7%, driven by both Click & Collect and direct delivery.

• Four new stores opened, and expansion into Serbia is underway, with first openings expected by end of 2027.

Financial highlights

• Net sales: €6,433.9m (+3.8% year-over-year); Q4 sales: €1,296.1m (+3.8%).

• Adjusted EBIT: €264.7m (-1.8% year-over-year); Q4 adjusted EBIT: €-34.8m (-14.0%).

• Gross margin: 35.0% (+0.1ppt year-over-year).

• Sales per sqm: €2,903 (+1.9% year-over-year), maintaining a clear lead over competitors.

• Baumarkt subgroup sales up 4.0% (Germany +2.3%, Other Europe +5.5%); Baustoff Union subgroup down 1.3%.

Outlook and guidance

• Guidance for FY 2025/26 was met, with sales slightly above and adjusted EBIT nearly matching the previous year.

• Continued focus on price leadership, digitalization, and efficiency improvements.

• Strategic investments in expansion and ESG priorities to support long-term growth.