Fielmann AG : Business trend remains favourable but our sentiment remains mixed
>Q2 growth at +12% vs +11% pre-announced, margins in line, FY outlook confirmed pending the closing of the acquisition in the US - The detailed H1 2023 results show revenues of € 971m, a shade above the € 966m indicated in the trading statement of 13 July and reflect y-o-y growth of +13.6% (i.e. according to our calculations +11.6% at constant scope excl. the integration of MFI in Spain), EBITDA of € 208m (vs € 207m pre-indicated), i.e. a margin of 21.4% (vs 20.1% in...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.
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