Tuesday, 07/28/2020 10:59 AM from PERSONAL-FINANCIAL.COM editorial team
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Photo: Sven Hoppe / dpa
Despite temporary branch closings in some federal states during the lockdown, Hornbach achieved a record Q1 (as of May 31). Sales rose by 15.7% to just under 1.6 billion euros, while EBIT increased by 78.4% and reached 172.8 million euros. In view of the ongoing corona risks, CEO Albrecht Hornbach remains cautious and expects for the FY. with sales at the previous year’s level of 4.7 billion euros and with a slightly lower EBIT (previous year: 227 million euros).
However, we assume that the targets will be adjusted upwards in the course of the year, which should give the share a further boost. We expect that
us also from the 1.8. beginning share buyback program. Until the end of FY. Hornbach wants to acquire 60,000 of its own papers for a maximum of EUR 2 million. Enough money is available, liquid funds almost doubled to 703 million euros in Q1. At the end of the week, investors took profits. However, the 4% price setback offers everyone who has watched the rally an attractive buying opportunity.
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