Fielmann AG : H1 results contained no surprises, persistently challenging environment but group maintains its targets
>H1 in line with the July warning, Q2 revenues at +8% y-o-y, H1 margin at 10.4% - The company issued a profit warning on 4 July, indicating that Q2 revenues had been disappointing, especially in Germany and Austria (hence H1 revenues forecast at € 851m, i.e. +8% y-o-y, and EBT close to € 89m, reflecting a margin of c. 10.4% vs 12.2% in H1 2021). The company also said that it was adopting more cautious forecasts for FY 2022 (full-year revenues close to € 1,800m, i.e....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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