DFVA Analyst Meeting 2017

Transcription

1 DFVA Analyst Meeting 2017 HORNBACH Holding AG & Co. KGaA September 28, 2017 Frankfurt/Main Page 1

2 Financial Year 2017/2018 1st Half/2nd Quarter (March August 2017) Page 2

3 since March 28, 2017 Shareholder Structure HORNBACH Group Free Float HORNBACH Familien Treuhand GmbH 100% 62.5% 37.5% HORNBACH Management AG Free Float HORNBACH Holding AG & Co. KGaA Neustadt/Weinstraße Listed Ordinary Shares 1 (ISIN DE ) c (General Partner) Management 23.6% 76.4% 100% 100% HORNBACH Baumarkt AG³ Bornheim Listed Ordinary Shares² (ISIN DE ) HORNBACH Immobilien AG 3 Bornheim Not listed HORNBACH Baustoff Union GmbH 3 Neustadt/Weinstraße Not listed 1 Number of shares: 16,000,000 / Stock market code: HBH 2 Number of shares: 31,807,000 / Stock market code: HBM 3 plus other subsidiary companies in Germany and abroad Page 3

4 August 31, 2017 Group Structure HORNBACH Group Neustadt/Weinstrasse 100% 76.4% 100% Property Development within HORNBACH Group 156 DIY and garden stores 1.8 million sqm sales area in 9 countries Germany (98) Austria (14), Netherlands (13), Czech Republic (10), Luxembourg (1), Switzerland (6), Sweden (5), Slovakia (3), Romania (6) 27 Outlets Builders merchant business South-West Germany (25) France (2) Page 4

5 August 2017 Network HORNBACH Group Germany 98 stores 1,049,000 sqm 25 x x 2 x 156 DIY stores in 9 countries sales area: 1.8 million sqm store size: Ø 11,700 sqm Austria 14 stores 168,600 sqm Czech Republic 10 stores 140,900 sqm Romania 6 stores 86,600 sqm Slovakia 3 stores 46,100 sqm Luxembourg 1 store 12,100 sqm Sweden 5 stores 73,100 sqm Netherlands 13 stores 164,500 sqm Switzerland 6 stores 78,000 sqm Page 5

6 Sales Figures 1st Half / 2nd Quarter Page 6

7 million Growth in Net Sales six months HORNBACH Group 1, ,976 1,084 2,055 1,116 2,187 1,143 2,310 1, % +2.0% , % / / / / / % HORNBACH Baustoff Union HORNBACH Baumarkt AG [International] HORNBACH Baumarkt AG [Germany] [rounding differences] Page 7

8 million Growth in Net Sales Q1 and Q2 HORNBACH Group HORNBACH Holding Group 1, , , , / / % + 4.1% Q 1 Q 2 HORNBACH Baumarkt Subgroup HORNBACH Baustoff Union Subgroup 1, , , , % + 3.9% % + 7.5% Q 1 Q 2 Q 1 Q 2 Page 8

9 Sales Share International - August 31 HORNBACH Baumarkt Subgroup 38% Germany 42% Germany 46% Germany 2007/ / /2018 Page 9

10 Like-for-like Sales* Germany + 2.1% + 4.0% International + 6.4% 2016/ / Total % + 2.6% Q 1 Q 2 * in constant currencies Page 10

11 Like-for-like Sales + 2.1% 2016/ /2018 Germany % + 0.3% Q 1 Q 2 Page 11

12 Like-for-like Sales* + 6.4% 2016/ /2018 International % + 5.3% Q 1 Q 2 * in constant currencies Page 12

13 Financial Figures 1st Half / 2nd Quarter Page 13

14 EBITDA HORNBACH Group 2016/ /2018 six months % % + 8.7% Q1 Q2 2016/ /2018 based on International Financial Reporting Standards (IFRS) Page 14

15 EBITDA HORNBACH Baumarkt Subgroup six months 2016/ / % % + 9.7% Q1 Q2 2016/ /2018 based on International Financial Reporting Standards (IFRS) Page 15

16 EBIT HORNBACH Group 2016/ /2018 six months % % + 9.3% Q1 Q2 2016/ /2018 based on International Financial Reporting Standards (IFRS) Page 16

17 EBIT Breakdown six months % / / % % HBM HBU HI HBM: HORNBACH Baumarkt Subgroup HBU: HORNBACH Baustoff Union Subgroup HI: HORNBACH Immobilien Subgroup Page 17

18 EBIT Breakdown six months 2016/ / Germany International Page 18

19 EBIT Breakdown six months HORNBACH Group 2016/ / % EBIT Non-operating Earnings (0.6) (1.5) Non-operating Expenses EBIT adjusted I % ICR costs EBIT adjusted II % Page 19

20 Earnings before Taxes HORNBACH Group 2016/ /2018 six months % % % Q1 Q2 2016/ /2018 based on International Financial Reporting Standards (IFRS) based on International Financial Reporting Standards (IFRS) Page 20

21 Earnings before Taxes HORNBACH Baumarkt Subgroup six months 2016/ / % % % Q1 Q2 2016/ /2018 based on International Financial Reporting Standards (IFRS) Page 21

22 Net Income before Minority Interest HORNBACH Group 2016/ /2018 six months % % + 9.7% Q1 Q2 2016/ /2018 based on International Financial Reporting Standards (IFRS) Page 22

23 Net Income HORNBACH Baumarkt Subgroup 2016/ /2018 six months % % + 9.1% Q1 Q2 2016/ /2018 based on International Financial Reporting Standards (IFRS) Page 23

24 Gross Margin six months HORNBACH Group / / / / /2018 HORNBACH Holding Group HORNBACH Baumarkt Subgroup Page 24

25 Earnings per Share six months HORNBACH Group / / / / /2018 HORNBACH Holding Group* *until FY 2014/2015 average earnings per share HORNBACH Baumarkt Subgroup Page 25

26 Highlights in the First Half 2017/2018 HORNBACH Group Pleasing like-for-like sales growth Germany +2.1% International +6.4 % Total Like-for-like +4.0 % Store opening in Den Hague (Netherlands), Halle (Germany) scheduled for October, Closing in Hanau (Germany) until December 2017 Gross margin slightly above previous year Store expense ratio below previous year Administrative overhead costs above previous year due to ongoing digitalization EBIT %, forecast unchanged Page 26

27 Cash Flow Statement HORNBACH Group Cash flow statement (abridged) 2017/ /2017 million 1. Half 1. Half Cash flow from operating activities of which: funds from operations of which: change in working capital Cash flow from investing activities Cash flow from financing activities Cash-effective change in cash and cash equivalents Change in cash and cash equivalents due to changes in exchange rates Cash and cash equivalents at March Cash and cash equivalents at August rounding differences Page 27

28 Cash Flow Statement HORNBACH Baumarkt Subgroup Cash flow statement (abridged) 2017/ /2017 million 1. Half 1. Half Cash flow from operating activities of which: funds from operations of which: change in working capital Cash flow from investing activities Cash flow from financing activities Cash-effective change in cash and cash equivalents Change in cash and cash equivalents due to changes in exchange rates Cash and cash equivalents at March Cash and cash equivalents at August rounding differences Page 28

29 Group Balance Sheet Structure (IFRS) HORNBACH Group ASSETS 2,648 2,693 Total assets 2,693 EQUITY and LIABILITIES Total assets 2, Liquid funds Current liabilities 526 Inventories, accounts receivable and other assets Non-current liabilities 724 1,667 Non-current assets 1,669 Shareholders equity 1,484 1, % 52.8% February 28, 2017 August 31, 2017 August 31, 2017 February 28, 2017 rounding differences Page 29

30 Group Balance Sheet Structure (IFRS) HORNBACH Baumarkt Subgroup ASSETS 1,960 2,020 Total assets 2,020 EQUITY and LIABILITIES Total assets 1, Liquid funds 441 Current liabilities 446 Inventories, accounts receivable and other assets Non-current liabilities 503 1,132 1,134 Non-current assets 1,083 Shareholders equity 1, % 51.6% February 28, 2017 August 31, 2017 August 31, 2017 February 28, 2017 rounding differences Page 30

31 Capital Expenditures six months HORNBACH Group / / / / /2018 others HORNBACH Immobilien Subgroup HORNBACH Baumarkt Subgroup Page 31 Olomouc

32 Employees HORNBACH Group 18,835 19,292 7,693 7,993 International Germany 11,142 11,299 February 28, 2017 August 31, 2017 Page 32

33 Outlook Page 33

34 Sales Forecast Financial 2017/2018 3,229 HORNBACH Holding Group 3,755 3,572 3,369 3,941 3,020 HORNBACH Baumarkt Subgroup?? 3,152 3,357 3,535 3, / / / / / /18 FC 2012/ / / / / /18FC Page 34

35 EBIT Forecast Financial Year 2017/2018 HORNBACH Holding Group HORNBACH Baumarkt Subgroup ? ? / / / / / /18 FC 2012/ / / / / /18 FC Page 35

36 Store Openings 2017/2018 Den Haag Den Haag Halle (Q3) + Closing Hanau (Q3) Halle Page 36

37 Financial Calendar HORNBACH Group 2017 December 21, 2017 Financial Update : 3rd Quarter of 2017/2018 as of November 30, 2017 March 22, 2018 Trading Statement for the 2017/2018 Financial Year May 24, 2018 Publication of Annual Report 2017/2018 and DVFA Analysts Conference of HORNBACH Baumarkt AG Page 37

38 Disclaimer - Contact DISCLAIMER This presentation is to be read in the context of the audited financial data of the HORNBACH Holding Group and the disclosures made in the notes to the consolidated financial statements contained in the annual report. It contains statements relating to the future based on assumptions and estimates made by HORNBACH s Board of Management. Forward-looking statements are only valid at the time at which they are made. Although we assume that the expectations reflected in these forecast statements are realistic, the company can provide no guarantee that these expectations will turn out to be accurate. The assumptions may involve risks and uncertainties which could result in actual events differing significantly from the forecast statements. Such factors include those discussed in the Risk Report and Outlook of the annual report. We do not assume any obligation to update the forward-looking statements contained in this presentation. Page 38