BORNHEIM (dpa-AFX) - The Hornbach Holding DIY group is entering the new financial year with caution. The company announced in Bornheim on Tuesday that the start to the spring season had been subdued in most countries due to the weather, as well as persistently high inflation and rising product prices. As a result, the company expects sales to remain more or less flat in 2023/24 (as of the end of February). It could therefore not be ruled out that adjusted earnings before interest and taxes (Ebit) could fall by five to 15 percent.

As already announced, sales in the past fiscal year increased by 6.6 percent to 6.26 billion euros. Adjusted EBIT fell by around one fifth to 290.1 million euros as a result of inflation and cost pressure. Hornbach had already presented preliminary figures at the end of March. Net income fell by 31.4 percent to 167.8 million euros. The company nevertheless intends to pay its shareholders a stable dividend of 2.40 euros./nas/stk