Flooding undermined the results

The Hornbach Baumarkt AG achieved gross sales of € 999 mio from March to the end of August 2002, which is 11.6 per cent higher than over the comparative period in 2001. This amounts to growth of 2.2 per cent on a like-for-like basis including international activities. However, the operating result includes a setback, which the company explains by the intensity of the pricing competition and the flood disaster. Consequently the result from ordinary activities of the Baumarkt AG have dropped by 25.5 per cent to € 33.0 mio.