Fielmann AG : German economy still a drag
>Preliminary 2023 results in line with the guidance but still below expectations - The initial indications provided by the group on its 2023 annual results (the detailed figures will be released on 30 April along with the Q1 2024 results) point to sales of around € 1,970m, or growth of +12% (+8% organic), EBT close to € 193m (margin 9.8% versus 9.1% in 2022, or a gain of +70bp, vs +90bp at the 9-month stage) and EBITDA in the region of € 410m (or a margin of 20.8% ver...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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