Fielmann AG : A very tough year-end, longer-term outlook of a margin increase, rating lowered to Neutral
>A very tough early Q4 sees the group make a negative pre-announcement, FY 22 EBT now forecast at >€ 160m (vs € 190m prev.) - The group announced yesterday preliminary details on its Q3 earnings, which it is set to release as planned on 10 November, and lowered its full-year sales/EBT guidance. We understand that the start of Q4 reflects unfavourable trends in activity that have prompted the group to revise its full-year outlook. In our flash of 18 October, we had al...Fielmann is an eyewear manufacturing group based in Germany. Co. is predominately active in the optical industry and operates across every level: as manufacturer, agent and optician. Co. is involved in the operation of and investment in opticians' shops, hearing aid companies and the manufacture of and trade in visual aids and other optical products, in particular spectacles, spectacle frames and lenses, sunglasses, contact lenses, related articles and accessories, freely traded merchandise not subject to licensing of all kinds as well as hearing aids and related accessories. Co. markets its products in Germany, Switzerland, Austria, Belarus, Ukraine, Poland, Netherlands, and Luxembourg.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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