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EQS-News: Fielmann Group AG
/ Key word(s): Interim Report/9 Month figures
Fielmann Group continues double-digit growth in Q3, confirms 2024 full-year guidance
With Germany in recession and consumer confidence levels remaining at low levels across Europe in Q3/2024 – especially in Central Europe – customers choose providers that offer guaranteed quality and services at the best price. In the optical and acoustic industries this is the Fielmann Group. As the price leader, the German family business continues to grow its market shares. Our Vision 2025 investments lead to a sustained topline growth while our Cost Leadership Program helps improve margins in line with our prognosis and long-term strategy. In the first nine months of the year, the Fielmann Group's consolidated sales increased by +13% to €1.69 billion (previous year: €1.50 billion). Of this, +5% was due to organic growth and +8% were contributed by our US acquisitions. In a challenging market environment in Europe, Fielmann grew its market shares in major countries: Germany, Switzerland and Austria increased their sales between 5% to 9% over the same period last year while Spain and Poland grew significantly at +10% and +31%, respectively. Our US acquisitions contributed €127 million during first 9 months of the year (previous year: €9 million). On an as-if basis, the US business grew 8% over last year. During the same period, our adjusted EBITDA was up by 13% over last year and reached €379 million (previous year: €336 million). Our adjusted EBITDA margin in Europe continued to increase by 1.1 margin points to 23.6%, thanks to an improved sell-out structure as well as a rigorous implementation of our Cost Leadership Program. As Fielmann USA starts at a significantly lower base, Fielmann Group’s adjusted margin remains stable at 22.4%. Eye Health Service excites customers, grows rapidly, rollout across Europe Considering the urgent need, the fact that more than 95% of patients rate their experience as good or very good and the positive feedback from the ophthalmology community, Fielmann is rolling out this innovative eye health service across Europe. Outlook Hamburg, Germany – November 1, 2024 About the Fielmann Group Further information
Additional features: File:
01.11.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | Fielmann Group AG |
| Weidestrasse 118 a | |
| 22083 Hamburg | |
| Germany | |
| Phone: | |
| Fax: | 90 |
| Internet: | -group.com |
| ISIN: | DE0005772206 |
| WKN: | 577220 |
| Indices: | SDAX |
| Listed: | Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange |
| EQS News ID: | 2018411 |
| End of News | EQS News Service |
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2018411 01.11.2024 CET/CEST
