Slides
Page 1
Investor presentation HORNBACH Holding AG & Co. KGaA November 2026
Page 2
©HORNBACH 2026 Disclaimer This document has been prepared by HORNBACH Holding AG & Co. KGaA (the “Company”, and together with its consolidated subsidia ries, the “HORNBACH Group”) solely for informational purposes. This disclaimer shall apply in all respects to the entire presentation, including any oral presentation of the slides by the representatives of the Company (or any other person on behalf of the Company), any questions-and-answer session that follows an oral presentation as well as any additional materials distributed at, or in connection with, this presentation (collectively, the “Presentation”). The Presentation may not be reproduced or redistributed in whole or in part without the prior written consent of the Company. None of the Company, its affiliates or any of their respective board members, directors, officers, employees, agents or any o ther person shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of the Presentation or its contents or otherwise arising in connection with the Presentation. The information an d opinions contained in this Presentation do not purport to be comprehensive, are provided as of the date of the document and are subject to change without notice. The Company is not under any obligation to update or keep current t he information contained in the Presentation. The Presentation does not constitute or form part of, and should not be construed as, an offer to sell or issue, or the solic itation of an offer to purchase, subscribe to, or acquire, securities of the Company or its affiliates, or an inducement to ente r into investment activity in the United States or in any other country. No part of this Presentation, nor the fact of its distribut ion, should form the basis of, or be relied on by any person in connection with, any contract or commitment or investment decisi on whatsoever. Certain industry, market and competitive position data contained in this Presentation come from official or third -party sources. Third-party publications, studies and surveys generally state that the data contained therein has been obtained from sources believed to be reliable but that there is no guarantee of the accuracy or completeness of such data. While the Compan y believes that each of the publications, studies and surveys has been prepared by a reputable source, the Company has not independently verified the data contained therein, and the Company assumes no responsibility whatsoever in respect of the acc uracy and completeness of any such data. In addition, certain industry, market and competitive position data contained in this Presentation come from the HORNBACH Group’s own research and analyses and certain estimates are based on the knowledge a nd experience of the HORNBACH Group’s management in the markets in which the HORNBACH Group operates. While the Company believes that such research, analyses and estimates are reasonable and reliable, they, and their underlying metho dology and assumptions, have not been verified by any independent source for accuracy and completeness and are subject to change without notice. Therefore, the Company also assumes no responsibility whatsoever in respect of the accuracy and completeness of any such research, analyses and estimates. Certain information in the Presentation, including, inter alia, statements regarding the possible or assumed future performan ce of the Company and its affiliates or its industry or other projections, constitute forward -looking statements. These statements reflect the Company’s current knowledge and expectations and projections about future events. By their natur e, forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors because they relate to events and depend on circumstances that will occur in the future whether or not outside the control of the Com pany. Such factors include, but are not limited to, changes in economic conditions and industry -specific conditions, the competitive as well as the political situation, changes in national and international law, interest rate or exchange rate flu ctuation, legal disputes and investigations, and the availability of funds. These factors may cause actual results, performance or developments to differ materially from those expressed or implied by such forward -looking statements. Accordingly, no assuran ce is given that such forward-looking statements are correct, complete or accurate. They speak only as at the date of the Presentation and the Company undertakes no obligation to update these forward -looking statements. The financial information of the HORNBACH Group included in the Presentation should be read in conjunction with the relevant audited annual financial statements, reviewed half -year financial statements and unaudited quarterly financial statements. In addition to figures prepared in accordance with IFRS, the Presentation also includes certain alternative perfo rmance measures. These alternative performance measures have been included because the Company believes that investors may find them helpful to assess the HORNBACH Group’s performance. However, these alternative performance measures should be c onsidered only in addition to, but not in isolation or as a substitute for, the information prepared in accordance with IFRS. Alternative performance measures are not subject to IFRS or any other generally accepted accounting principles, and oth er companies that report similarly named measures may define or calculate these performance measures in different ways. Due to rounding, numbers presented in this Presentation may not add up precisely to the totals provided and percentages may n ot precisely reflect the absolute figures. 2
Page 3
©HORNBACH 2026 HORNBACH Financial figures HORNBACH Group as of Feb 28, 2026; market share: GfK DIY -TSR (Large DIY stores > 1,000 sqm), Jan-Dec 2025; no data for Luxemburg, Romania, Slovakia, Sweden HORNBACH Holding ▪ Group sales: € 6.4bn ▪ Adjusted EBIT: € 265m ▪ Reliable dividend since IPO HORNBACH Baumarkt ▪ 9 countries ▪ 175 DIY stores, 5 specialized flooring stores, 10 online shops ▪ 95% of Group sales HORNBACH BaustoffUnion ▪ Regional footprint (GER + FR) ▪ 39 builders merchant outlets ▪ 5% of Group sales Sweden 8 DIY stores Netherlands 18 DIY stores 2 HORNBACH Vloeren stores Market share: 29.4% Luxembourg 1 DIY store Switzerland 8 DIY stores Market share: 15.0% Germany 97 DIY stores 3 BODENHAUS stores Market share: 15.7% Czechia 10 DIY stores Market share: 38.8% Austria 16 DIY stores Market share: 17.6% Romania 11 DIY stores Slovakia 6 DIY stores one of Europe’s most attractive home improvement stocks ©HORNBACH 2026 3
Page 4
©HORNBACH 2026 HORNBACH Baumarkt: No. 1 project DIY store for DIY enthusiasts and professionals 4 HORNBACH Baumarkt: Attractive customer proposition Sales split by customer type Retail customers Commercial customers Broad and deep assortment with high product availability on >10,000 sqm ▪ More than 50,000 SKUs in large quantities available in-store ▪ Extended product range in the online store and on the online marketplace Attractive pricing ▪ Every-day-low-price guaranteed: Price leadership online and in store ▪ With customer account: Price guarantee up to 30 days after purchase Excellent service and expert advice ▪ Convenient shopping: Easily accessible locations, generous opening hours, drive-in ▪ Project consulting, installation services, rental service, financing, repair Our mission Be the best partner for projects in house, apartment and garden. Customer needs Project execution with the right products and quantities within the given time frame and budget.
Page 5
©HORNBACH 2026 HORNBACH Baumarkt: Interconnected retail strategy enhances shopping experience 5 HORNBACH Baumarkt: Strategy and business model #1 Best DIY app in Germany and Austria > 4.3 million Number of customer accounts < 5% Low return ratio across all countries > 350 million Visits in the HORNBACH web shops in 2025/26 Seamless “customer journey” across all channels ▪ Click & Collect, direct delivery of online orders to home / construction site / store ▪ Product availability and location in store ▪ Return of online orders to the store Additional online services ▪ Large offering of made-to-measure products (paint, sheet metal, doors, windows, shower cubicles, etc.) ▪ Customer account: Shopping lists, purchase history, electronic invoices, credit notes for price guarantee ▪ Self-scan for a convenient in-store checkout ▪ Expert advice also via video conference 1 Kundenmonitor 2026 Germany / Austria
Page 6
©HORNBACH 2026 Mixture of owned and leased real estate supports operational agility 6 HORNBACH Group: Store network as of Feb 28, 2026 ~62% of retail space owned Homogeneous store network (78% of stores > 10,000 sqm): Economies of scale in store operation Average selling space of approx. 12,000 sqm > 2 million sqm retail space Warehouse-style megastores in high-quality locations 26% 36% 36% 2% Owned Property HORNBACH Immobilien Owned Property HORNBACH Baumarkt Finance Lease Land rented, building owned
Page 7
©HORNBACH 2026 Market-leading sales density and above-average growth 7 HORNBACH Baumarkt: Leading sales floor efficiency Like-for-like growth rate of the German DIY sector / German GDP vs HORNBACH (calendar year)3,4Sales per sqm (€) of HORNBACH and German competitors1 80 90 100 110 120 130 140 150 160 170 180 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 DIY sector (GER) HORNBACH (GER) 1 Dähne Statistik Baumarkt + Garten 2026/own calculations; all figures follow the Dähne methodology applied since 2024. 2 Weighted net sales per sqm (fiscal year 2025/26); based on BHB definition for weighted sales area | 3 In constant currencies; includes sales from all stores that have been open for at least one year as well as sales from onlineshops | 4 GfK DIY panel (until 2013), GfK DIY -TSR (from 2014) +71% +20% Covid pandemic Start HORNBACH online shop Insolvency Praktiker/Max Bahr 2008 = 100 % 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 11,000 12,000 13,000 14,000 600 800 1,000 1,200 1,400 1,600 1,800 2,000 2,200 2,400 2,600 2,800 3,000 3,200 2,000 Average store size OBI 2025 OBI 2019 BAUHAUS 2025 BAUHAUS 2019 HORNBACH 2025 HORNBACH 2019 HAGEBAU 2025 HAGEBAU 2019 TOOM 2025 TOOM 2019 Sales per sqm Sales per sqm (in €) 2 2,903 Sales per sqm (in €)2 2,386
Page 8
©HORNBACH 2026 8 HORNBACH Group: Resilient business model ▪ Old building stock, lack of new construction ▪ Growing demand for multifunctional & flexible living spaces ▪ Rising energy prices ▪ Goal of CO₂ neutrality by 2050 in the EU ▪ Shifting demographics ▪ Installations services to realize complex projects Around 85% of Europe’s building stock is over 20 years old, and 85–95% is expected to remain in use by 20501. Approximately 75% of the EU’s building stock is energy-inefficient; the EU aims to at least double the annual energy-efficient renovation rate2. Approximately 70–80% of the EU’s existing housing stock is not suitable for independent living for people with reduced mobility3. 1 EU Commission – “Renovation Wave for Europe” (2020) | 2 European Environment Agency (EEA) – Buildings and Construction | 3 Housing Europe Structural renovation tailwinds underpin durable, largely non-cyclical demand Accessible homes & installation servicesEnergy efficiencyHome improvement and maintenance
Page 9
©HORNBACH 2026 A large and fragmented European home improvement market offers lasting headroom to grow 9 HORNBACH Group: Structural growth opportunities DIY stores € 24bn Specialist stores and small outlets (plumbing, timber, tiles etc.) € 48bn Other specialist stores with DIY assortments (furniture, electronics) € 34bn Other distribution channels (supermarkets, online pure players) € 148bn Trade services Total home improvement market € 25bn Growth potential beyond DIY segment in Germany ▪ DIY stores currently account for 9% of the German home improvement market ▪ Huge potential to gain market share from other segments by addressing trade professionals, offering “do-it-for-me” services, creating specialized store formats 1 Klaus Peter Teipel, Research & Consulting for 2025 Retail 4.9% 2.9% 0.5% 10.6% Online share: German home-improvement market valued at 1 € 280bn Marketplace Example: Germany
Page 10
©HORNBACH 2026 Successful long-term organic growth 10 HORNBACH Group: A proven growth strategy Net sales of HORNBACH Group since IPO 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 1987 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2007 HORNBACH Baustoff Union HORNBACH Baumarkt (Other Europe) HORNBACH Baumarkt (Germany) Baustoff € 0.4bn Europe € 3.2bn Germany € 2.8bn 1968, 1991 1st DIY store – from 1991 expansion in former East Germany 1994 Expansion of building materials activities 1996 - 1998 Expansion into Austria, Netherlands, Czechia and Luxembourg 2002 - 2004 Expansion into Switzerland, Sweden and Slovakia 2007 Expansion into Romania 2010 Launch of German online shop 2013 - 2018 Further rollout of online shops across Europe 2025 Expansion into Serbia announced
Page 11
©HORNBACH 2026 Unlocking growth opportunities in Serbia 11 HORNBACH Baumarkt: Consistent expansion Expansion into Serbia ▪ Expansion via large-scale DIY and garden centers and launch of online shop ▪ First openings at the earliest end of 2027 ▪ Potential for 6 – 8 locations in large catchment areas ▪ Attractive market for home improvement retail: ▪ high demand for renovation and construction ▪ 95% home ownership rate ▪ rising purchasing power ▪ Attractive competitive environment: no big box DIY players – possibility to gain significant market share Several locations secured – first building permits granted Investment volume per location between € 25m and € 40m Currently, no additional investments in real estate planned1 1 Admin / logistics
Page 12
©HORNBACH 2026 Consolidation in Germany offers opportunities to strengthen our position in home market 12 HORNBACH Baumarkt: Consistent expansion Addition of former Hellweg locations ▪ Recent insolvency of HELLWEG and BayWa Bau & Garten with more than 100 stores in Germany affected. ▪ At least 35 stores to be taken over by home improvement retailers so far, including Bauhaus, OBI, HORNBACH, Globus and Hagebau. ▪ HORNBACH to take over 6 locations: Ahrensfelde (Berlin region), Berlin-Köpenick, Dortmund-Kley, Essen-Borbeck, Freiberg (Saxony), Sankt Augustin (Cologne-Bonn region) ▪ New locations strengthen HORNBACH’s footprint in German key regions and create potential for further market share growth. Berlin-Köpenick Ahrensfelde Sankt Augustin Freiberg Essen-Borbeck Dortmund-Kley Locations to be taken over as of December 1, 2026 Reopening planned for spring 2027 as HORNBACH DIY stores Limited CAPEX – increase in pre-opening costs & inventories in Q4 expected
Page 13
©HORNBACH 2026 Stable dividend for financial year 2025/26 HORNBACH Group: Dividend per share in € and EPS in € Dividend policy 1 XETRA closing share price as of February 28/29 of the respective year 2 Of consolidated net income after minorities Reliable dividend payments since the IPO in 1987 Stable dividend at least at prior-year level Payout ratio2 27.7% (PY: 27.3%) 13 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0.64 0.77 0.77 1.50 1.50 1.50 1.50 1.50 2.00 2.40 2.40 2.40 2.40 2.40 Dividend per shareHBH share price1 4.06 4.55 5.64 5.04 4.84 5.11 4.08 6.56 10.33 12.48 9.83 7.83 8.80 8.66 55.28 60.85 76.25 56.90 65.85 70.30 46.10 50.90 78.20 117.60 78.60 68.95 79.50 86.00 Earnings per share
Page 14
©HORNBACH 2026 Erich Harsch CEO Strategy, DIY and Garden Retail, Public Relations 14 Management Board of HORNBACH Management AG HORNBACH’s management combines external expertise and family leadership Jan Hornbach Member of the Board Real Estate and New Stores Nils Hornbach Member of the Board Specialised trade business and Digitalization Dr. Joanna Kowalska CFO Finance, Accounting, Tax, Group Controlling, Risk Management, Internal Audit, Legal, Compliance and Investor Relations ▪ Chairman of the Executive Board of HORNBACH Management AG since November 1, 2026 ▪ Appointed until May 31, 2028 ▪ Chairman of the Executive Board of HORNBACH Baumarkt AG since 2020 ▪ Before: CEO of dm-drogerie markt GmbH & Co. KG and member of the Supervisory Boards at the HORNBACH Group ▪ Member of the Executive Board of HORNBACH Management AG since November 1, 2026 ▪ Appointed until October 31, 2029 ▪ Member of the Executive Board of HORNBACH Baumarkt AG since 2023 ▪ Before: Managing Director of HORNBACH International GmbH ▪ Member of the Executive Board of HORNBACH Management AG since November 1, 2026 ▪ Appointed until October 31, 2029 ▪ Member of the Executive Board of HORNBACH Baumarkt AG since 2023 ▪ Before: Various responsibilities at HORNBACH, including in E-Business and Last Mile Logistics ▪ Chief Financial Officer (CFO) of HORNBACH Management AG and HORNBACH Baumarkt AG since 2025 ▪ Appointed until August 14, 2028 ▪ Before: Managing Director, Senior Vice President and member of the extended Executive Board at the OBI Group
Page 15
©HORNBACH 2026 Strong commitment of Hornbach family as anchor shareholder 15 HORNBACH Group: Company structure as of Feb 28, 2026 Free float HORNBACH Familien Treuhand GmbH HORNBACH Management AG (General partner) HORNBACH Holding AG & Co. KGaA Neustadt/Weinstraße | Listed Ordinary Shares1 (ISIN DE0006083405) Minority shareholders 4.67% HORNBACH Baumarkt AG2 Bornheim, not listed HORNBACH Immobilien AG2 Bornheim, not listed HORNBACH Baustoff Union GmbH2 Neustadt/Weinstraße 37.50%62.50% 100% 95.33% 100% 100% HORNBACH Familien Treuhand holds all shares in HORNBACH Management AG and must hold more than 10% in HORNBACH Holding (currently 37.5%) HORNBACH Management AG is led by Erich Harsch as Chairman of the Board of Management; with Jan Hornbach and Nils Hornbach, the sixth generation of the founding family is represented on the Board. 3 HORNBACH Baustoff Union is led by Dr. Christian Hornbach 1 Number of shares: 16,000,000 / stock market code: HBH | 2 Including other subsidiary companies in Germany and abroad | 3 Since November 1, 2026
Page 16
©HORNBACH 2026 Leading European home improvement player with a resilient business model 16 HORNBACH Group: Investment Highlights Best customer experience Highest sales density Efficient big box store network, large project focus and interconnected retail Broad and deep product offering, EDLP strategy and industry-leading e-commerce platform Strong international contribution With consistently growing market shares in key international markets Operational and financial flexibility 62% of high-quality selling space owned in 9 European countries Well positioned to cater for a rising need for renovations Energy efficiency, ageing housing stock and demographic change Value stock With a family anchor shareholder, strong ESG focus and reliable dividend payments since decades
Page 17
©HORNBACH 2026 Q2/6M 2026/27 Highlights & Financial Figures 17
Page 18
©HORNBACH 2026 18 HORNBACH Baumarkt: 6M Highlights High customer satisfaction and expansion across regions 1 Kundenmonitor 2026 Top rankings in customer surveys ▪ #1 Overall customer satisfaction in Germany and Austria1) ▪ Strong placements in multiple categories, e.g. selection and range, price, product quality, services as well as digital channels Investments into existing stores & regions ▪ New drive added to Geleen DIY store (NL) ▪ Successful opening Graz-Liebenau (Austria), September 11, 2026 ▪ Opening Beuningen “Vloeren” (NL), announced for October 2026 Expansion opportunity in Germany ▪ Addition of six former HELLWEG locations ▪ Strengthening of German store network, increasing regional coverage and supporting further market share gains ▪ Reopening as HORNBACH stores in spring 2027
Page 19
©HORNBACH 2026 Strong first half-year driven by customer demand HORNBACH Group: Q2/6M 2026/27 – Financial update 19 Net sales LFL1 sales growth Gross profit Gross margin Adjusted EBIT 1 Lfl = Like-for-like, in constant currencies; includes sales from all stores that have been open for at least one year and sales fro m online shop; refers to home improvement business of HORNBACH Baumarkt AG . 2 Free Cash Flow after net CAPEX and dividend. % € 3,816.2m (+6.0%) +4.0% € 1,320.6m (+5.0%) 34.6% (-0.3 ppt) € 285.6m (+4.9%) Free cash flow2 € 194.9m (+50.4%) 6M 2026/27 ©HORNBACH 2026 € 1,813.7m (+7.3%) +5.4% € 620.7m (+6.2%) 34.2% (-0.4 ppt) € 124.6m (+12.8%) Q2 2026/27
Page 20
©HORNBACH 2026 Strong sales growth supported by a well diversified European footprint HORNBACH Group: 6M Consolidated net sales in € million 20 Sales by segments 3,404 196 6M 2025/26 6M 2026/27 3,599 3,816 3,603 213 +6.0% +217 46.4% 53.6% HORNBACH Group Baumarkt AG geographical sales split Baumarkt AG sub-group: +5.9% Baustoff Union sub-group: +8.6% 6M 2026/27 Germany Other EuropeBaumarkt AG Baustoff Union Germany: +3.8% Other Europe: +7.7% (PY: 52.7%) (PY: 47.3%) Note: Inaccuracies in sum might result from rounding differences.
Page 21
©HORNBACH 2026 HORNBACH Baumarkt: Market share calendar year: Jan – Jul 2026 in % Netherlands 29.8% (+1.0 ppt) Czechia 40.1% (+1.6 ppt) Switzerland 15.4% (+0.6 ppt) Germany 15.9% (+0.4 ppt) Austria 18.0% (+0.3 ppt) Source: GfK DIY-TSR (Large DIY stores > 1,000 sqm) Note: No GfK DIY-TSR data for Luxemburg, Romania, Slovakia, Sweden 21 Growing market share across key markets ©HORNBACH 2026
Page 22
©HORNBACH 2026 Sales improved on a like-for-like basis HORNBACH Baumarkt: Like-for-like sales growth and customer trends 22 Note: Like-for-like, in constant currencies; includes sales from all stores that have been open for at least one year as well as sale s from online shop. Netherlands Sweden Switzerland Czechia Slovakia Austria Luxembourg Romania Total Germany Other Europe 6M 2025/26 4.0 3.6 3.2 1.5 4.8 5.6 3.4 4.1 2.6 4.3 4.0 3.5 6M 2026/27in % 9.7 10.3 2.4 7.3 (4.5) 5.4 5.6 0.4 4.6 2.2 Footfall increased by 3.5% (PY: +3.3%) Average basket increased by 1.9% (PY: +1.0%) Groupwide similar business days year on year=
Page 23
©HORNBACH 2026 E-commerce sales grew significantly HORNBACH Baumarkt: Net sales in € million from online channels 178 314 328 61 133 158 6M 2019/20 6M 2025/26 6M 2026/27 239 447 486 +8.6% +39 +19% Note: Inaccuracies in sum might result from rounding differences. | 1 Of HORNBACH Baumarkt AG net sales 9.8% 13.1% 13.5% E-Commerce share1 23 Click & Collect Direct Delivery E-commerce share increased to 13.5% Strong performance in Click & Collect as well as Direct Delivery
Page 24
©HORNBACH 2026 Costs Ratios Gross profit growth offsets cost increase HORNBACH Group: Gross profit and cost structure in € million and in % of net sales 34.9% 6M 2025/26 34.6% 6M 2026/27 1,257 1,321 +5.0% +63 6 826 23.0% 6M 2025/26 5 861 22.6% 6M 2026/27 992 1,040 159 4.4% 175 4.6% +4.9% +48 Gross profit Margin Increase in gross profit (+5.0%) – driven by higher sales Cost development ▪ Selling & store cost ratio decreased despite higher operating and expansion driven personnel costs ▪ Increase in general & admin costs reflects investments in IT infrastructure and personnel ▪ Pre-opening costs due to preparations for new store openings Total personnel costs increased to € 609m (+4.9%) 24 Pre-opening General & Admin Selling & Store
Page 25
©HORNBACH 2026 6M adjusted EBIT and adjusted EBIT margin Adjusted EBIT above prior-year level HORNBACH Group: 6M Adjusted EBIT1 in € million and adjusted EBIT margin in % 162 161 110 125 2025/26 2026/27 272 286 +4.9% +13.4 1 Adjusted to exclude non-operating earnings items, e.g. impairment losses on assets, income from disposals of properties, income from write-ups of assets impaired in previous years. Note: Inaccuracies in sum might result from rounding differences. Adjusted EBIT 6M split by geography 36.5% 63.5% Germany Other Europe ▪ Positive non-operating effects of € 0.3m (PY: positive effects of € 0.5m) 25 (PY: 37.6%) (PY: 62.4%) 7.6% 7.5% adj. EBIT margin Q2 Q1
Page 26
©HORNBACH 2026 Operating cash flow fully covers CAPEX requirements HORNBACH Group: Cash flow in € million Cash flow from operating activities driven by improved working capital: ▪ Stronger seasonal reduction of inventories (+) ▪ Initiatives to improve working capital (+) ▪ Repayment of reverse factoring program (-) 6M 2025/26 CAPEX increased mainly due to network expansion: ▪ Land and stores (53%) ▪ Store equipment (33%) ▪ Mainly software (14%) Free cash flow improved despite higher CAPEX Cash flow from operating activities 352.0 271.6 of which: funds from operations 306.7 295.5 of which: change in working capital 45.3 (23.9) Cash flow from investing activities (117.4) (102.3) of which: gross CAPEX (121.0) (106.7) Cash flow from financing activities 34.7 (109.7) Free cash flow (after net CAPEX and dividend) 194.9 129.6 6M 2026/27 26 Cash flow from financing activities reflects refinancing: Baumarkt bond replaced by promissory note loan
Page 27
©HORNBACH 2026 Equity & Liabilities Strong balance sheet structure underpinned by a high equity ratio HORNBACH Group: Balance sheet in € million Assets Net financial debt1 decreased to € 1,174m – driven by increased liquid funds Leverage ratio2 at 2.3x (Feb 2026: 2.8x) Strong equity ratio of 45.8% (Feb 2026: 44.5%) 1,332 1,347 2,147 28 Feb 2026 1,063 1,633 2,277 31 Aug 2026 4,826 4,973 Current liabilities Shareholders’ equity Non-current liabilities 582305 1,504 3,017 28 Feb 2026 1,404 2,987 31 Aug 2026 4,826 4,973 Liquid funds Non-current assets Inventories, accounts receivable, and other assets 27 1 Sum of short- and long-term financial debt (including lease liabilities) less cash and cash equivalents 2 Net debt/EBITDA
Page 28
©HORNBACH 2026 FY 2026/27 Outlook 28
Page 29
©HORNBACH 2026 FY 2026/27 guidance: Growth in a challenging environment 29 HORNBACH Group: Guidance and store openings Guidance nomenclature: Sales: “At previous year’s level” = -2% to +2% | “Slight” = +/-2% to +/-6% | “Significant” = changes of more than 6% Adj. EBIT: “At previous year’s level” = -5% to +5% | “Slight” = +/-5% to +/-12% | “Significant" = > +/-12%. Future developments are subject to considerable uncertainty. Please see disclaimer at the beginning of the presentation regar ding forward-looking statements. Net sales Adjusted EBIT CAPEX 2025/26 € 6,434m € 264.7m € 220m At or slightly above the prior-year level (-2% to +6%) At the prior-year level (-5% to +5%) HORNBACH Baumarkt: Store openings 2026/27 Trnava (Slovakia), April 22, 2026 Graz-Liebenau (Austria), September 11, 2026 Beuningen “Vloeren” (Netherlands), October 21, 2026 Significantly above the prior-year Additional information 2026/27
Page 30
©HORNBACH 2026 IR Contact & Events 30 Antje Kelbert Head of Investor Relations (+49) 0 63 48 / 60-2444 antje.kelbert@hornbach.com Anne Spies Senior IR Manager (+49) 0 63 48 / 60-4558 anne.spies@hornbach.com Maximilian Franz IR Manager (+49) 0 63 48 / 60-2071 maximilian.franz@hornbach.com Fabienne Villwock Assistant Investor Relations (+49) 0 63 48 / 60-5262 fabienne.villwock@hornbach.com Event calendar November 4, 2026 Kapitalmarktforum, Mannheim November 11, 2026 Münchner Kapitalmarkt Konferenz, Munich November 16, 2026 Winter 1on1-Summit, virtual November 18, 2026 BofA Global Consumer & Retail Conference, Paris November 24, 2026 Deutsches Eigenkapitalforum, Frankfurt December 22, 2026 Quarterly Statement Q3 2026/27 HORNBACH on LinkedIn | www.hornbach-holding.de
Page 31
©HORNBACH 2026 31
Page 32
©HORNBACH 2026 Net sales HORNBACH Group: Key figures: 10-year overview 6,434 32 In € million unless otherwise stated of which in Germany of which in other European countries Sales growth as % of net sales Gross margin as % of net sales EBITDA as % of net sales EBIT as % of net sales Adjusted EBIT1) as % of net sales Earnings before taxes (EBT) as % of net sales Net income for the year before non-controlling interest as % of net sales Earnings per share Employees -annual average -converted into FTE 2025/26 2024/25 2023/24 2022/23 2021/22 2020/21 2019/20 2018/19 2017 /18 2016/17 3,194 3,240 3.8 35.0 486 7.6 256 4.0 265 4.1 201 3.1 144 2.2 8.66 20,968 6,200 3,129 3,071 0.6 34.8 490 7.9 253 4.1 270 4.3 208 3.4 147 2.4 8.80 20,750 6,161 3,158 3,003 (1.6) 33.8 474 7.7 226 3.7 254 4.1 179 2.9 132 2.1 7.83 20,750 6,263 3,270 2,994 6.6 33.4 505 8.1 259 4.1 290 4.6 218 3.5 168 2.7 9.83 20,582 5,875 3,149 2,726 7.7 35.0 565 9.6 355 6.0 363 6.2 314 5.3 245 4.2 12.48 19,961 5,456 2,985 2,471 15.4 35.2 516 9.5 312 5.7 326 6.0 266 4.9 201 3.7 10.33 18,720 4,729 2,536 2,193 8.4 35.8 420 8.9 214 4.5 227 4.8 166 3.5 123 2.6 6.56 17,935 4,362 2,376 1,986 5.3 36.0 235 5.4 121 2.8 135 3.1 99 2.3 75 1.7 4.08 17,053 4,141 2,312 1,829 5.1 36.6 263 6.3 161 3.9 166 4.0 132 3.2 96 2.3 5.11 16,223 3,941 2,262 1,679 4.9 36.6 254 6.5 157 4.0 160 4.1 130 3.3 90 2.3 4.84 15,751 1 Adjusted to exclude non-operating earnings items, e.g. impairment losses on assets, income from disposals of properties, income from write-ups of assets impaired in previous years
Page 33
©HORNBACH 2026 62% owned real estate with hidden reserves 33 HORNBACH Group: Own retail properties as of Feb 28, 2026 Warehouse-style megastores in attractive, big catchment areas Homogeneous store network (78% of stores > 10,000 sqm): Economies of scale in store operation Average selling space of approx. 12,000 sqm > 2 million sqm retail space € 995 million hidden reserves in owned retail properties as of February 28, 2026 ~62% of selling space owned 26% 36% 36% 2% Owned Property HORNBACH Immobilien Owned Property HORNBACH Baumarkt Finance Lease Land rented, building owned Hidden reserves in retail properties1 February 2026 (in € million) Book value Yield value (x13)2 Hidden reserves (x13)2 HORNBACH Baumarkt subgroup 964 1,415 451 HORNBACH Immobilien subgroup 404 948 544 HORNBACH Group 1,368 2,363 995 1 Based on our own assumptions and calculations as of February 28, 2026 | 2 Long-term average multiplier of 13 and age discount of 0.6 % p.a.
Page 34
©HORNBACH 2026 Net debt / EBITDA stood at 2.3x 34 HORNBACH Group: Financial debt maturity profile as of August 31, 2026, in € million 102 104 105 106 106 456 87 58 233 263 < 1 year 9 1-2 years 2-3 years 9 3-4 years 4-5 years > 5 years 207 131 180 130 354 755 18 Mortgage loans Other bank debt, incl. SSD IFRS 16 lease liabilities Net debt / EBITDA stood at 2.3x compared to 2.8x (February 28, 2026) S&P-Rating BB+ rating with stable outlook confirmed in November 2025 (HORNBACH Baumarkt) Scope BBB- investment-grade-rating confirmed on January 2026 (HORNBACH Holding) +
Page 35
©HORNBACH 2026 35©HORNBACH 2026 There’s always a job to be done.