Hugin Ad hoc announcement according to § 15 WpHG: Interim report: Hornbach-Baumarkt-AG: Third quarter surpasses expectations
Dienstag, 12.12.2006 10:58 von Hugin
Bornheim bei Landau, December 12, 2006.
The earnings performance of the HORNBACH-Baumarkt-AG Group exceeded
previous expectations in the third quarter of the financial year
(September 1 to November 30, 2006). Based on preliminary figures, the
Group's operating earnings (EBIT) jumped by 190 % to Euro 26.6
million in the third quarter (previous year: Euro 9.2 million),
following growth of 41.6 % to Euro 47.0 million in the second quarter
(previous year: Euro 33.2 million). On a cumulative basis for the
first nine months, the Group's EBIT now amounts to Euro 114.5
million, equivalent to an increase of 53 % on the same period in the
previous year (Euro 74.8 million). This pleasing earnings performance
is due in particular to the marked revival in like-for-like sales
both in Germany and abroad.
In view of the sales tax increase coming into effect on January 1,
2007 and the possible fluctuation in weather conditions in the fourth
quarter, the Board of Management is maintaining its previous earnings
forecast (EBIT) for the 2006/2007 financial year. The Board
accordingly continues to expect earnings to grow at a considerably
more rapid rate than sales.
The forthcoming capitalization of tax refund claims amounting to
around Euro 9 million at the end of the year will have a positive
impact on the annual net income for 2006/2007. The tax refund claims
relate to corporate income tax credits due to be disbursed in equal
annual amounts in the coming ten years as a result of a change in
legal requirements (SEStEG) in connection with Section 37 of the
German Corporate Income Tax Act (KStG).
The definitive figures and comments on the quarterly results of the
HORNBACH-Baumarkt-AG Group are scheduled to be published on December
21, 2006.
Contact: HORNBACH Group, Axel Müller, Investor Relations, Tel.: +49
6348 60 2444, Fax: +49 6348 60 4299, E-mail:
axel.mueller@hornbach.com
--- End of Ad-hoc Message ---
WKN: 608440; ISIN: DE0006084403; Index: CDAX, Prime All Share, SDAX;
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