GJ 20172018 Q39M Factbook Banken en final neu Q3/9M 2017/2018 ©HORNBACH Group 2017 Page 1 ... (from...

Factbook Q3/9M 2017/2018 Page 1©HORNBACH Group 2017

Factbook3rd Quarter / 9 Months 2017/2018

Factbook3rd Quarter / 9 Months 2017/2018


HORNBACH Group: #5 DIY retailer in Europe

156 megastores in 9 European countries and online shopsfocused on retail with DIY, garden and home improvementproducts for private and professional clients(Hornbach Baumarkt AG subgroup)

29 builders’ merchant outlets in south-west Germany and Franceselling construction materials to professional clients(Hornbach Baustoff Union GmbH subgroup)

Retail property development for the operating units(Hornbach Immobilien AG subgroup)

50%44%

6% Hornbach Baumarkt AG[Germany]

Hornbach Baumarkt AG[International]

Hornbach Baustoff Union

Sales split 9M 2017/18

Stat

us:e

nd-N

ovem

ber2

017


1877 Foundation

1968 1st DIY store withgarden center

1980 1st DIY megastore

1987 Going public HORNBACHHOLDING Group

1993 Going public HORNBACH-Baumarkt Subgroup

1996 Austria

1997 Netherlands

1998 Czech Republic

2001 „Zuckerhut“ Award

2002 Switzerland

2003 Sweden

2004 Slovakia

2004 Emission High Yield bond (6.125%)

2006 HORNBACH wins German„Handelspreis“

2007 Romania

2007 Lifetime Award for Otmar Hornbach

2008 Retailer of the Year in Germany

2010 Start of Multi-Channel Retailing

2013 Emission Eurobond (3.875%)

2015 Change in legal form of HORNBACHHolding AG into „KGaA“

HistoryHORNBACH Group


1 Number of shares: 16,000,000 / Stock market code: HBH2 Number of shares: 31,807,000 / Stock market code: HBM3 plus other subsidiary companies in Germany and abroad

cHORNBACH

Baustoff UnionGmbH3

Neustadt/Weinstraße

Not listed

HORNBACHImmobilien AG3

Bornheim

Not listed

HORNBACH Baumarkt AG³Bornheim

Listed Ordinary Shares²(ISIN DE0006084403)

76.4% 100%100%

Free FloatHORNBACH Familien

Treuhand GmbH

HORNBACHManagement AG

(General Partner)

Management

100%

HORNBACH Holding AG & Co. KGaANeustadt/Weinstraße

Listed Ordinary Shares1

(ISIN DE0006083405)

Free Float

23.6%

62.5% 37.5%

Shareholder StructureHORNBACH Group

sinc

eM

arch

28,2

017


156 DIY and garden stores1.8 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)

100% 100%76.4%

Property development forall operating units aswell as third parties

29 OutletsBuilders‘ merchant

business

South-West Germany (27)France (2)

Neustadt/Weinstrasse

Group StructureHORNBACH Group

Nov

embe

r30,

2017


Germany98 stores

1,052,000 sqm

156 DIY storesin 9 countries

sales area:1.8 million sqm

store size:Ø 11,700 sqm

Netherlands13 stores

164,500 sqm

Luxembourg1 store

12,100 sqm

Switzerland6 stores

78,000 sqm

Austria14 stores

168,600 sqm

Sweden5 stores

73,100 sqm

Czech Republic10 stores

140,900 sqm

Slovakia3 stores

46,100 sqm

Romania6 stores

86,600 sqm

27 x x

2 x

Nov

embe

r201

7Network

HORNBACH Group


1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

HORNBACH Baumarkt HORNBACH Baustoff Union

Organic GrowthHORNBACH Group

FY 2016/2017:€ 3.94 bn

GJ 2016/2017:18,835 employees*

SalesCAGR~12%

FY 1987/88:613 employees

* incl. passive employees


0

500

1000

1500

2000

2500

3000

3500

4000 Germany International

SK

ANL

CZ

CH

SE

RO

L

FY 2016/2017:€ 3.71 bn

ExpansionHORNBACH Baumarkt Subgroup

35%

65%

45%

55%

Net

Sale

sin€

mill

ion


Market Position – Strategy – Growth Opportunities


16,46015,700

6,1275,375

3,7103,097

2,600 2,536 2,474 2,236

[Source: Dähne, Company information]

Top 10 Ranking (2016): European DIY RetailersHORNBACH Baumarkt Subgroup

Net

Sale

sin€

mill

ion


9.4

20.0

24.1

4.76.8

14.1

OBI Bauhaus HORNBACH Zeus/Hagebau Toom Globus/Hela

6,127

5,375

3,710

2,536 2,236

1,469

OBI Bauhaus HORNBACH ZEUS/Hagebau Toom Globus/Hela

Net Sales (Europe): HORNBACH ranks #3 …

…but is #1 in sales per store (€ million) … and sales per sqm (€)

Net

Sale

sin€

mill

ion

Top 6 Ranking (2016): German DIY RetailersHORNBACH Baumarkt Subgroup

[Source: Dähne, Company information]

1,263

1,729

2,070

1,122 1,063

1,751

OBI Bauhaus HORNBACH Zeus/Hagebau Toom Globus/Hela


Bubble size = total net sales (Europe)

0

2.000

4.000

6.000

8.000

10.000

12.000

14.000

750 1.000 1.250 1.500 1.750 2.000 2.250

aver

age

stor

esi

ze(i

nsq

m)

Net Sales / sqm

OBI

Bauhaus

HORNBACH

Toom

Globus/Hela

Zeus/Hagebau

Eurobaustoff

EMV-Profi

Hellweg

[Source: Dähne, HORNBACH]

Megastore

Average store size, net sales and sales densities (2016):HORNBACH Baumarkt Subgroup

Factbook Q3/9M 2017/2018 Seite 13©HORNBACH-Gruppe 2017

Volume of the German Core DIY Market in 2016

Distance selling3.5 bn €

21.6

16.0

7.2

3.5

Baumärkte Fachmärkte Kleinbetriebsformen Distanzhandelund E-Commerce

DIY stores Specialist retailers Small scale formats Distance selling(incl. e-commerce)

Stationary DIY retail44.8 bn €

Extended DIY core market: 48.3 bn €

Gro

sssa

les

inbi

llion€

0.5

1.3

1.7

E-commerce DIY stores

Online retailers

Other DIY distance sales incl. e-commerce

thereof 2.8 bn €e-commerce

Factbook Q3/9M 2017/2018 Seite 14©HORNBACH-Gruppe 2017

1998

=100%

DIY sector (D) HORNBACH (D)

-12%

+ 36%

Rising market share in GermanyHORNBACH Baumarkt AG

Like-for-like sales growth inGermany

4.9%

11.1%

1998 2000 2002 2004 2006 2008 2010 2012 2014 2016

Market share in Germany(in % of the sales volume)

[Source: BHB/GfK DIY-Panel (until 2013), GfK DIY-TSR (from 2014), HORNBACH]

[Source: BHB, HORNBACH]


Megastore network& multi-channel retailing

Sophisticatedlogistics & IT

Continuinginternationalisation

Outperforming the DIY market &delivering a unique customer experience

Every-day-low-price

Project-orientedservices

Superiorproduct offering

HORNBACH is the top address for DIY projects

Sustainable Growth StrategyHORNBACH Baumarkt Subgroup


What clients expect from usHORNBACH Baumarkt Subgroup

Partner for project customersand professionals

Top quality specialist advice

Added value with our productrange and service offerings

Everything in stock

Making shopping easier

Unique advertising campaigns

Every-Day-Low-Price


Customers across Europe honor HORNBACH‘s conceptHORNBACH Baumarkt Subgroup


Prime locations

Focus on big catchment areas

Large store format

Homogeneous store network

Generates economies of scalein store operation and store development

Meets customers needs and providessuperior shopping experience

Store Type Selling Space(BHB weighted)

CapEx 1)

Type 48,500 – 10,999 sqm(incl. drive thru)

15 – 20 €m

Type 5 11,000 – 14,999 sqm 20 – 25 €m

Type 6≥ 15,000 sqm(incl. drive thru)

25 – 30 €m

1) average CapEx for property and building

HORNBACH4

HORNBACH5

HORNBACH6

Store FormatsHORNBACH Baumarkt Subgroup


43

44

52

12 4

Property HI Property HBM

Operating Leases Finance Lease

Misc.

FY 16/17

(€ million)

Book value Yield value(x13)

HiddenReserves

(x13)

Baumarkt Subgroup 598 886 288

Immobilien Subgroup 428 785 357

HORNBACH Group 1,026 1,671 645

Sales area in %No. of stores

Febr

aury

28,2

017

Property Ownership and Hidden ReservesHORNBACH Group

28%

29%

33%

9%2%

Most recent DIY property transactions 2016/2017

Rental Multiplier:

x21(December 2016)

Rental Multiplier:

x16.5(January 2017)


5.7%

25.0%

2016 2030e

[Source: IFH, BHB, Roland Berger, HORNBACH]

Growing online share of DIY retail marketHORNBACH Baumarkt Subgroup

E-commerce in DIY retailing is expectedto account for 25% of sales by 2030.

What industry experts predict… … and how HORNBACH responds


18.0% 16.6%

11.9% 11.9% 11.1%

7.3%

OBI Bauhaus ZEUS/Hagebau Toom HORNBACH Globus

DIY Market Share in Germany: Offline vs. OnlineHORNBACH Baumarkt Subgroup

[Source: Dähne, Statista, HORNBACH]

… but is market leader in terms of e-commerce sales of the stationary DIY players in Germany.

According to DIY total sales HORNBACH ranks # 5 …

28%

18%15%

n/a

>30%

4%

OBI Bauhaus ZEUS/Hagebau Toom HORNBACH Globus

Market volume 2016

€ 21.6 Mrd.

Market volume (2016)

€ 0.5 Mrd.


Catalyst for EDLP transparency and price awareness

Time-saving: “Reserve online & collect in-store”

Spill-over benefits for our stores

Additionally addressing customersliving outside of the catchmentareas of our stationary stores

International roll-out

Leading Online Shop for Construction and Renovation ProductsHORNBACH Baumarkt Subgroup


Going Live Road-MapHORNBACH Baumarkt Subgroup

Country Start of Online Shop Number of SKUs(Nov 2017)

Germany December 2010 149,000

Austria January 2013 113,000

Switzerland November 2014 111,000

Netherlands March 2015 64,000

Czech Republic December 2015 42,000

Luxemburg December 2015 96,000

Slovakia August 2017 14,000

Sweden October 2017 20,000

Romania Planned in Q4 2017/18 -


Nürnberg (2015)

Castrop-Rauxel(2015)

Berlin (2015)

Soltau (2012) Lehrte (1994)

Essingen (1999)

Lorsch (2015)

Vilshofen (2005)

Elaborated Supply Chain Management for Europe-wide B2B LogisticsHORNBACH Baumarkt Subgroup

Sophisticated merchandisemanagement in conjunction withour homogeneous store network

Our logistics system combinesdirect supplies to stores andindirect deliveries via logisticscenters

Enhanced import possibilities

Group-wide integrated IT andmerchandise systems

Logistics centers(cross docking, import warehouse)

Special warehouse(for long and bulky goods)


HORNBACHDVZ

Fulfillment

HORNBACH6

MVZ

Fulfillment service provider

HORNBACH mailing center

Direct shipment supplier

HORNBACH4

Store

Home deliveryservice

Reserve &collect at store

Collect productsordered online at store

Pure online business: 3 ways to customers Store as e-commerce service partner

B2C LogisticsHORNBACH Baumarkt Subgroup


* year-end figure

USP compared with competitors

Lower dependency on national manufacturerbrands

Exclusive control over market launchand market positioning

Active management of product lifecycle

Significantly higher gross margins

Successful way to counter downwardprice pressure from internet

Benefits of private labels

8,2%10,3%

15,0%

18,9%

21,9%

30%

0,0%

5,0%

10,0%

15,0%

20,0%

25,0%

30,0%

35,0%

Private labels share of sales*

Private Label StrategyHORNBACH Baumarkt Subgroup


Homing(Consumers‘ living trends)

New target groups

(women, do-it-for-me, seniors)

Increasing needfor renovation and

modernization(80% of houses/flats > 30 years)

Energy efficiency

(Lower lifecycle cost, CO2 reduction)

International expansion

Barrier-free living

(ageing of the population)

Online retailing

(Growing share of DIY e-commerce,Omni-Channel and the death of pure play))

Opportunities and Growth Drivers in the DIY MarketHORNBACH Group

Consumer trendsSustainability


Financial Year 2016/2017


Highlights Financial Year 2016/2017HORNBACH Group

Like-for-like sales growth including webshop;International + 5.1 %, Germany + 1.4 %

Outperformance of the industry

Further regressive gross margin(37.2 % vs. 37.7 % HBM; 36.6 % vs. 37.0 % HH)

Lower store operating expenses as a percentage of net sales due tolease swap

Higher costs due to expansion of e-commerce

Lower negative impact of impairment tests

High effective tax rate due to write offs of tax loss carryforward inSweden

Stable dividends

Strong balance sheet and high equity ratio (52.8%)


207 216 213 218 229

1,279 1,325 1,3901,524

1,670

1,7411,827

1,9662,011

2,040

2012/13 2013/14 2014/15 2015/16 2016/17

HORNBACH Baustoff Union HORNBACH Baumarkt AG [International] HORNBACH Baumarkt AG [Germany]

+9.6%

+1.5%

+4.9%

+4.8%

3,2293,369

3,5723,755

3,941

Sustainable Sales GrowthHORNBACH Group

€m

illio

n

rounding differences


90 98

2015/2016 2016/2017

138157

2015/2016 2016/2017

EBIT

3.7% 2.6%4.0% 2.6%

HORNBACH Group HORNBACH Baumarkt Subgroup

Margin

based on International Financial Reporting Standards (IFRS)

€m

illio

n


72 53

7.6%

33.3%

2015/2016 2016/2017

98 90

13.6%30.9%

2015/2016 2016/2017

Group Net Income

Margin 2.6% 2.0%2.3% 1.4%

HORNBACH Group HORNBACH Baumarkt Subgroup

Tax rate

€m

illio

n


2015/2016 2016/2017

Capital ExpendituresHORNBACH Group

Olomouc

156

179

€m

illio

n


3rd Quarter / 9 Months 2017/2018


Highlights 9 Months 2017/2018HORNBACH Group

Group-wide like-for-like sales growth (DIY) of 3.6%

Germany +1.6 %

Other European countries +6.1%

DIY: store openings in Den Haag and Halle, closing Hanau

Builders‘ merchants business : 2 new HBU outlets in Worms andBaumholder

Webshop launched in Slovakia and Sweden

Gross margin slightly above previous year‘s level

Lower store expense ratio

Higher administration expense ratio mainly due to ICR

EBIT of HORNBACH Group up 12.4% to 205.0 €m in 9M 2017/2018

Sales and earnings forecast 2017/2018 confirmed


180 180 182 191 206

1,058 1,1091,200

1,3311,451

1,4431,561

1,5971,633

1,658

2013/2014 2014/2015 2015/2016 2016/2017 2017/2018

HORNBACH Baustoff Union HORNBACH Baumarkt AG [International] HORNBACH Baumarkt AG [Germany]

Sales Growth – 9 MonthsHORNBACH Group

[rounding differences]

+9.1%

+1.6%

+5.1%

+8.2%

3,318

2,6822,851

2,9803,155

€m

illio

n


1,116.1 1,070.5968.7

1,195.51,114.8

1,007.3

Q 1 Q 2 Q 3

2016/2017

2017/2018

1,058.9 1,003.6900.9

1,130.31,042.7

936.5

Q 1 Q 2 Q 3

56.866.5 67.464.6

71.4 70.2

Q 1 Q 2 Q 3

HORNBACH Holding Group

HORNBACH Baumarkt Subgroup HORNBACH Baustoff Union Subgroup

€m

illio

nGrowth in Net SalesHORNBACH Group

+ 4.1%+ 7.1% + 4.0%

+ 3.9%+ 6.7% + 4.0% + 7.5%+ 13.8% + 4.1%


Like-for-like Sales*HORNBACH Baumarkt Subgroup

* In constant currencies

Q 32016/17

9 M2016/17

Q 42016/17

FY2016/17

Q 12017/18

Q 22017/18

H 12017/18

Q 32017/18

9 M2017/18

Total 3.0 4.0 -0.7 3.0 5.4 2.6 4.0 2.7 3.6

Previous year 2.9 1.8 5.6 2.6 4.4 4.5 4.5 3.0 4.0

Germany 2.2 2.4 -2.3 1.4 3.8 0.3 2.1 0.5 1.6

Previous year -0.2 0.4 2.5 0.8 2.7 2.2 2.5 2.2 2.4

International 3.9 6.1 1.3 5.1 7.5 5.3 6.4 5.4 6.1

Previous year 7.0 3.7 9.7 4.9 6.6 7.7 7.1 3.9 6.1


182.3205.0

2016/2017 2017/2018

76.5 76.0

29.8

92.783.1

29.2

Q 1 Q 2 Q 3

2016/2017

2017/2018

[based on International Financial Reporting Standards (IFRS)]

EBITHORNBACH Group

9 Months

+ 12.4%

+ 21.2% + 9.3% - 1.9%


EBIT Breakdown – 9 MonthsHORNBACH Group

133.0

8.7

43.8

153.7

8.8

44.9

HBM HBU HI

2016/2017

2017/2018

HBM: HORNBACH Baumarkt SubgroupHBU: HORNBACH Baustoff Union SubgroupHI: HORNBACH Immobilien Subgroup

+ 1.1%

+ 15.6%

+ 2.4%


87.1102.8

2016/2017 2017/2018

117.7135.5

2016/2017 2017/2018

HORNBACH Holding Group HORNBACH Baumarkt Subgroup

Net income – 9 MonthsHORNBACH Group


Gross Margin – 9 MonthsHORNBACH Group

36.4

37.236.9

36.3 36.4

37.2

37.937.6

37.0 37.1

2013/2014 2014/2015 2015/2016 2016/2017 2017/2018

HORNBACH Holding HORNBACH Baumarkt Subgroup


Earnings per share– 9 MonthsHORNBACH Group

5.38

6.15 5.94 6.06

6.94

2.512.90 2.88 2.74

3.23

2013/2014 2014/2015 2015/2016 2016/2017 2017/2018

HORNBACH Holding* HORNBACH Baumarkt Subgroup

*until FY 2014/2015 average earnings per share


Cash Flow StatementHORNBACH Group

Cash flow statement (abridged) 2017/2018 2016/2017

€ million 9 Months 9 Months

Cash flow from operating activities 188.8 223.4

of which: funds from operations 213.6 191.5

of which: change in working capital -24.9 31.9

Cash flow from investing activities -60.5 -184.5

Cash flow from financing activities -82.8 -137.0

Cash-effective change in cash and cash equivalents 45.4 -98.1

Change in cash and cash equivalents due to changes in exchange rates -1.5 0.0

Cash and cash equivalents at March 1 190.1 349.7

Cash and cash equivalents at November, 30 234.0 251.6



Cash flow statement (abridged) 2017/2018 2016/2017

€ million 9 Months 9 Months

Cash flow from operating activities 154.0 176.3

of which: funds from operations 167.0 146.2

of which: change in working capital -13.0 30.1

Cash flow from investing activities -52.2 -161.8

Cash flow from financing activities -39.0 -101.0

Cash-effective change in cash and cash equivalents 62.8 -86.6

Change in cash and cash equivalents due to changes in exchange rates -1.2 0.0

Cash and cash equivalents at March 1 113.0 283.0

Cash and cash equivalents at November 30 174.6 196.4

Cash Flow StatementHORNBACH Baumarkt Subgroup



1.667 1.681

791 768

190 234

February 28, 2017 November 30, 2017

1.501 1.398

697724

484 526

November 30, 2017 February 28, 2017

52.8%

2,648 2,683

56.0%

2,6482,683

Group Balance Sheet Structure (IFRS)HORNBACH Group

ASSETS EQUITY and LIABILITIES

Total assets

Liquid funds

Non-current assets

Inventories,accounts receivable

and other assets

Total assets

Shareholders‘ equity

Current liabilities

Non-current liabilities


1,132 1,146

715 680

113 175

February 28, 2017 November 30, 2017

1,089 1,011

493503

419 446

November 30, 2017 February 28, 2017

51.6%

1,960 2,001

54.4%

1,9602,001

Group Balance Sheet Structure (IFRS)HORNBACH Baumarkt Subgroup

ASSETS PASSIVA

Total assets

Liquid funds

Non-current assets

Inventories,accounts receivable

and other assets

Total assets

Shareholders‘ equity

Current liabilities

Non-current liabilities


15 12

279 4

5077

110113

83

2013/2014 2014/2015 2015/2016 2016/2017 2017/2018

sonstige HORNBACH Immobilien Subgroup HORNBACH Baumarkt Subgroup

98

Capital Expenditures – 9 MonthsHORNBACH Group

83

121128

92


Employees*HORNBACH Group

11,142 11,321

7,693 8,081

Februar 28, 2017 November 30, 2017

International

Germany

19,40218,835

* incl. passive employees


New Store Openings and Outlook 2017/2018

Sales and earnings forecastHORNBACH Group for FY 17/18:

Sales to increase in a medium single -digitpercentage range

EBIT to match or slightly exceed theprevious year‘s figure (FY 16/17: 156.8€m)

Adjusted EBIT expected to match previousyear‘s level (FY 16/17: 159.8€m)

Den Haag opened

Halle opened (Q3)Hanau closed (Q3)

DISCLAIMERThis 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 statementscontained 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 areonly 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 theseexpectations 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. Suchfactors 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 thispresentation.

Den Haag,

Apr 21, 2017

Halle,Nov 15, 2017

Hanau,Oct 27, 2017

Date post:	10-May-2018
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