Hornbach Holding : H1 2024 earnings in line. Some signs of improvement but no significant rebound
>H1 sales of € 3,455m (+0.1%) / EBIT of € 265.4m (margin of 7.7 %, +130bp) - Yesterday, Hornbach Holding published H1 2024-25 results that were broadly in line with our estimates. Despite relatively stable sales at € 3,455m, underlying operating profit was up 20% to € 265.4m, i.e. an underlying operating margin of 7.7% (+130bp). Attributable net profit was € 180.8m, up 35%.Good resilience of sales but visibility still limited - After growth of 1.8% in...Hornbach Holding is engaged in the development and operation of do-it-yourself (DIY) megastores with garden centers on an international basis. In addition, Co. and its subsidiaries are engaged in the construction materials and builders' merchant business. Co. operates within two segments: retail business and its real estate business. As of Feb. 28, 2014, Co. was operating a total of 49 DIY megastores with garden centers in eight countries outside Germany.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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