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Hornbach Baumarkt fiscal Q1 profit climbs YOY

Hornbach Baumarkt AG said its normalized net income for the fiscal first quarter ended May 31 was €1.34 per share, a gain from 65 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €42.6 million, an increase from €20.6 million in the year-earlier period.

The normalized profit margin rose to 4.4% from 2.5% in the year-earlier period.

Total revenue increased 16.4% year over year to €976.7 million from €838.9 million, and total operating expenses climbed 12.8% year over year to €903.7 million from €801.4 million.

Reported net income rose on an annual basis to €47.0 million, or €1.48 per share, from €23.2 million, or 73 cents per share.