Hornbach-Baumarkt-AG Group

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42 GROUP MANAGEMENT REPORT Sales Performance unsettled and at times overly wet summer, a factor that left its mark on garden product sales in particular. For the second quarter as a whole, however, we managed to post pleasing sales growth, with like-for-like growth of 2.8%. By the end of the first six months, our cumulative sales were 1.3% ahead of the previous year’s record figure. Customer demand was more subdued in the second half of the financial year compared with the strong growth rates seen a year earlier. This also reflected the decline in consumer confidence since June 2012, a key indicator that would only recover at the beginning of 2013. The bad news surrounding the euro sovereign debt crisis and the macroeconomic slowdown did not simply pass the Germans by, even if their confidence held up well compared with other Europeans. Our like-for-like sales performance in Germany in the period from December 2012 to February 2013 was additionally burdened by calendar-related factors – our stores had three business days fewer than in the previous year – and the early onset of what would turn out to be a severe winter. In 2012/2013 as a whole, we nevertheless managed to maintain the level of sales achieved following strong growth in the previous year. HORNBACH once again outperformed its competitors in Germany by a significant margin. According to the BHB sector association, the DIY sector reported a downturn in like-for-like sales by 0.8% in the period from January to December 2012. By contrast, our domestic stores posted slight sales growth in the 2012 calendar year, thus outperforming the German sector average by around one-and-ahalf percentage points. HORNBACH thus further expanded its market position. As a percentage of aggregate sales at all German DIY stores and garden centers (€ 22.4 billion), HORNBACH’s market share grew from 9.2% to 9.3%. If the calculation is based only on those DIY stores and garden centers with sales areas of more than 1,000 m² in Germany (market volume: € 18.6 billion), then we increased our market share in this segment from 11.0% to 11.1%. Overall, our retail concept, with its particular focus on the needs of project customers, enabled us to benefit to an above-average extent from demand in the German housing construction and renovation business. This success was also driven by HORNBACH’s online store (www.hornbach.de), which has impacted positively on brand building and on customer retention levels. • Other European countries Like-for-like sales outside Germany declined by 3.2% in the 2012/2013 financial year (including currency items: by 3.3%). This weaker sales performance in line with expectations was mainly due to the faltering economic situation across large parts of Europe on account of the debt crisis. Consumer uncertainty was far more pronounced here than in Germany in the second half of the financial year. As 2012 progressed, private households in various European countries stepped firmly on the brakes in terms of their consumer spending. This situation was exacerbated by restrictions in the housing construction and real estate sector, which also left their mark on the DIY business. The Netherlands, for example, has witnessed a severe crisis in its real estate sector now that mortgage interest will no longer be fully deductible for tax purposes. Our stores in Austria, where we managed to uphold the high level of like-for-like sales attained in the previous year, were able to escape this overall downward trend. In Romania, we successfully achieved a turnaround in the year under report. Here, we defied the negative market trend by generating like-for-like sales growth for the first time since the 2008/2009 financial year. Alongside our own sales performance, comparison with developments in the overall sector is also highly significant. Based on the information available, in the year under report HORNBACH significantly outperformed its competitors in five out of seven countries outside Germany, and thus acquired further market share despite the tough economic climate. In two countries, our figures were consistent with the sector average.
GROUP MANAGEMENT REPORT Sales Performance 43 Stores and sales areas at the HORNBACH-Baumarkt-AG Group (No. of HORNBACH DIY megastores with garden centers) (Total sales areas in thousand square meters) Financial year Financial year 08 | 09 92 37 08 | 09 09 | 10 92 39 09 | 10 10 | 11 92 41 10 | 11 11 | 12 91 43 11 | 12 12 | 13 92 46 12 | 13 0 20 40 60 80 100 120 140 1,000 1,100 1,200 1,300 1,400 1,500 1,600 Germany Other European countries Development in HORNBACH’s store network HORNBACH launched operations with five new DIY megastores with garden centers in the 2012/2013 financial year under report. In May 2012, a new HORNBACH DIY megastore with a garden center was opened in Sundbyberg near Stockholm (Sweden). Our Swedish store network now comprises four locations. In July 2012, we opened a new megastore in Timisoara, our fifth location in Romania. This was followed in August 2012 by a new store in Riddes (Wallis Canton), thus extending our store network in Switzerland to six HORNBACH DIY megastores with garden centers. The fourth quarter witnessed two new store openings in Germany. In December 2012, a new HORNBACH store opened its doors in Oberhausen. In February 2013, the expansion program for the financial year was rounded off with the opening of a newly built store at the Bremen location. This store has replaced the previous store located nearby. Including the four stores newly opened and the replacement location, a total of 138 retail outlets were in operation across the Group as of February 28, 2013 (February 29, 2012: 134). Sales areas at the 92 stores in Germany amounted to around 988,000 m². The 46 DIY megastores with garden centers in other European countries had sales areas of around 610,000 m². The international stores are located in Austria (11), Netherlands (9), Luxembourg (1), Czech Republic (8), Switzerland (6), Sweden (4), Slovakia (2), and Romania (5). Total sales areas amounted to around 1,598,000 m² at the HORNBACH-Baumarkt-AG Group as of February 28, 2013. As in the previous year, the HORNBACH DIY megastores with garden centers had average sales areas of around 11,600 m².
Page 1 and 2: Hornbach-Baumarkt-AG Group Annual R
Page 3 and 4: Key Group, Financial and Operating
Page 5 and 6: Time and Space Those are the dimens
Page 7 and 8: COMPANY PROFILE 7 Germany. The net
Page 10 and 11: 10 TO OUR SHAREHOLDERS TO OUR SHARE
Page 12 and 13: 12 REPORT OF THE SUPERVISORY BOARD
Page 14 and 15: 14 REPORT OF THE SUPERVISORY BOARD
Page 16 and 17: 16 DIRECTORS & OFFICERS DIRECTORS &
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Page 21 and 22: CORPORATE GOVERNANCE 21 of its Boar
Page 23 and 24: CORPORATE GOVERNANCE 23 worked with
Page 25 and 26: CORPORATE GOVERNANCE 25 Dates of re
Page 27 and 28: CORPORATE GOVERNANCE 27 to a member
Page 30 and 31: 30 THE HORNBACH-BAUMARKT SHARE THE
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AUDITOR’S REPORT 159 AUDITOR’S
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Germany Baden-Württemberg Binzen E
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