At Hornbach, sales rose by 8.4 percent to EUR 4.73 billion in the past financial year. Adjusted EBIT increased by 68.3 percent to EUR 227 million. The experts at DZ Bank had expected 210 million euros. As in the previous year, there should be a dividend of EUR 1.50. Hornbach is thus continuing a tradition. Since the IPO (1987), at least one dividend has been paid at the previous year’s level.
The analysts at DZ Bank therefore confirm their recommendation to buy Hornbach shares. The target price remains at EUR 61.00.
In the first quarter, many markets had to close due to Corona. However, customers were able to continue shopping online. Commercial customers were also mostly served. In the further course, the failures could sometimes even be overcompensated. As a result, sales and EBIT should be well above the previous year, even at the start of the year.
For Hornbach, the forecast for the rest of the year is difficult. Ultimately, there should be sales at the previous year’s level. Adjusted EBIT is expected to decrease slightly. However, the analysts believe that the business will continue to develop quite solidly. They see the goals as conservative. Many consumers will initially withdraw more into the home environment. This ensures a desire to beautify your own home. Hornbach can benefit from this.