HORNBACH Baumarkt AG - Capital/Financing Update 2021

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Corporate | 18 October 2021 12:19

HORNBACH Baumarkt AG: Hornbach Baumarkt AG upgraded by S&P to ‘BB+’ from ‘BB’

DGAP-News: HORNBACH Baumarkt AG / Key word(s): Rating

18.10.2021 / 12:19

The issuer is solely responsible for the content of this announcement.

Credit Rating

Hornbach Baumarkt AG upgraded by S&P to ‘BB+’ from ‘BB’

Bornheim bei Landau/Pfalz, October 18, 2021.

Hornbach Baumarkt is pleased to announce upgrades by S&P Global Ratings to its long-term issuer credit rating and the rating on its senior unsecured debt to ‘BB+’ from ‘BB’. The outlook remains stable.

In its announcement on October 13, 2021, S&P highlighted that high demand for do-it-yourself (DIY) and construction products during the pandemic boosted the group’s earnings and margins, strengthened its competitive position, and supported its credit metrics. Looking forward S&P expects “Hornbach will continue capitalizing on its efficient omnichannel proposition underpinning its market share gains across markets, uphold its prudent financial policy, and continue reducing debt.”

Karin Dohm, CFO of Hornbach Baumarkt AG and Hornbach Management AG stated: “We successfully extended our market position by continuously focusing on our customers’ needs, thus reaching a sustainably higher earnings level. S&P’s decision to upgrade our ratings is highly appreciated and a great recognition of our work so far.”

Contact:

Axel Mueller

Group Communications and Investor Relations Director

HORNBACH Holding AG & Co. KGaA

Tel. +49 (0) 6348 602444

[email protected]

18.10.2021 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.

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Language:	English
Company:	HORNBACH Baumarkt AG
	Hornbachstraße
	76878 Bornheim bei Landau/Pfalz
	Germany
Phone:	+49 (0)6348 / 60 00
Fax:	+49 (0)6348 / 60 40 00
E-mail:	[email protected]
Internet:	www.hornbach.de
ISIN:	DE0006084403
WKN:	608440
Listed:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID:	1241385