HORNBACH Holding Faces Decline in Adjusted EBIT, Retains Buy Recommendation

HORNBACH Holding AG & Co. KGaA has seen a dip in its adjusted EBIT for Q3 2025/26, despite a modest increase in net sales. The preliminary figures indicate a 2.2% rise in net sales to EUR 1,538.7 million. However, this increase was insufficient to counterbalance rising costs, resulting in a 21.0% decline in adjusted EBIT to EUR 27.3 million.

The company confirms its earlier forecast, anticipating net sales for the fiscal year 2025/26 to range between a 2% decrease and a 6% increase from the previous year's EUR 6,200 million. Adjusted EBIT is expected to fluctuate by ±5% from the 2024/25 figure of EUR 269.5 million. The target price remains at EUR 110, with Quirin Privatbank maintaining a Buy recommendation.

While the adjusted EBIT outlook has been slightly reduced, HORNBACH's financial health remains strong, supporting the continued positive investment stance.