The HORNBACH Baumarkt AG Group announced preliminary consolidated earnings results for the third quarter and nine months of fiscal 2019. Based on initial, preliminary figures, third Quarter operating earnings excluding non-operating items (adjusted EBIT) fell year-on-year by around 67% to just under EUR 4 million compared to EUR 12.2 million a year ago. Consolidated sales improved by 7.5% to EUR 1,006 million in third quarter of 2018/19. This was mainly due to higher procurement prices which, given competitive considerations, could not be offset by higher retail prices. This resulted above all from an unsatisfactory earnings performance in November 2018.

For the nine-months, sales growth was 4.7% to EUR 3,256 million.

The Board of Management is upholding its sales forecast 2018/19 without amendment. This provides for sales growth in a medium single-digit percentage range. It now rather expects adjusted operating earnings (adjusted EBIT) to fall more than 10% of the previous year's figure.