Hornbach Holding : Q1 2018-19 results in line with expectations, full-year guidance confirmed; investment case intact
>Strong international sales growth in Q1 2018-19 - Hornbach Holding reported its Q1 2018-19 results today (22 June, Q1 ends 31 May). Group sales increased 3% yoy to €1,227m, in line with our forecast of €1,219m (no consensus available). While revenue growth was flat in Germany (+0% yoy), sales in the rest of Europe sales were up 6% yoy. On a like-for-like basis group sales grew 2.3% yoy (vs 5.4% in Q1 2017-18) with Germany flat (-0.2% yoy) and international up 6.3% yo...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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