Hornbach Holding: Positive surprise

In the second quarter, sales at Hornbach Holding increased by 22.7 percent to 1.555 billion euros. This meets expectations. The EBIT improves by 59.5 percent to 162 million euros. The analysts at DZ Bank had expected 144 million euros.

In the current financial year, sales should increase by 8 percent to 15 percent. The market expects an increase of 12 percent. The company’s forecast for adjusted EBIT is between EUR 270 million and EUR 330 million. The experts consider 319 million euros to be realistic.

You stick to the hold recommendation for the shares of Hornbach Holding. They see the target price at 92.00 euros.

The experts are positively surprised by the result in the second quarter. The pandemic is reviving business, but the holding has also worked on costs. The interlinking of stationary markets and web shops is also positive for Hornbach. This paid off during the crisis.

The shares of Hornbach Holding gain 0.2 percent in the morning to 99.90 euros.


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