In its past fiscal year, German DIY chain Hornbach has raised its consolidated turnover by 5 %, partially thanks to a good performance in the Netherlands: its Dutch turnover growth even reached a double-digit growth.
Continuous investment in eCommerce
In its 2015/16 fiscal year, which ran until 29 February, the German chain's turnover grew 5.1 % to 3.755 billion euro. Its Baumarkt division, which consists of the 153 DIY markets and garden centers, even managed a 5.3 % growth.
Dutch turnover even grew twice as much: "We clearly meet a need in the Netherlands, where we opened two new stores (Best and Geleen) at the end of 2015. We also see online growth as the turnover from our web shop is increasing", says Hornbach Netherlands' financial director Wim Sigmond.
Turnover was not the only thing that grew at Hornbach: its productivity per surface unit improved and the company also immediately increased its dividend 13 % on the back of the excellent results. The 140-year old company will continue to invest in eCommerce to stay up-to-date with the "continuous transformation of the commercial world."