EQS-News

Preliminary financials for FY2023: Fielmann Group grows sales +12%, EBITDA +21%, EBITDA margin +1 percentage point - Seite 2

Central European markets delivered solid organic growth. Our unit market share in Germany grew by +2 percentage points to 55% – the highest value ever – thanks to the dedication of our great teams. Italy and Poland continued to record double-digit sales growth – again gaining market shares. In Spain, the Fielmann Group generated +42% sales growth over last year and is therefore progressing swiftly on its course to reach market leadership. Further growth drivers were our continued expansion in the Czech Republic and a recovery in business in Ukraine. The acquisition of SVS Vision in the United States contributed a total of around €30 million sales from September 2023 onwards.

At year end, the Fielmann Group operated 1,086 stores worldwide (previous year: 968). 385 of them include hearing aid studios (previous year: 352) that fitted more than 119,000 hearing aids in 2023. Globally, 23,412 people including our new members in Spain and the US contributed to the growth of our family business as of 31 December 2023 (previous year: 22,631).

FY2023 marked the turnaround in profitability with an EBITDA margin expansion of more than 1 percentage point: According to preliminary figures, EBITDA is expected to amount to approximately €410 million (+21%, previous year: €340 million), while EBT will reach around €193 million (+20%, previous year: €161 million). This positive development goes back to an increase in progressive glasses sold, the impact of our Cost Leadership Program and marketing spendings below last year.

Dividend increase
Considering the successful development of the Group in 2023, the Management Board and Supervisory Board are going to recommend an increased dividend of €1.00 per share (previous year: €0.75) to the Annual General Meeting on 11 July 2024. Based on our year-end share price, the dividend yield amounts to 2.0%. The total dividend payout equates to €84 million (previous year: €63 million).

Outlook
In Q4/2023 and early 2024 most of our markets exhibited low consumer sentiment – in Germany a bleak economic outlook led to an even further decline. Whilst we felt these headwinds in our home market, our market share gains in 2023 make us optimistic that we can grow our market position in 2024 even further. Our focus remains on retaining new and known customers by delivering guaranteed quality and an excellent service at the best prices. Promising growth opportunities in Eastern Europe, Spain and the US coupled with a diligent execution of our Cost Leadership Program make us confident that we will continue to extend our profitability. Our guidance for FY2024 will be reviewed by our Supervisory Board in April and published subsequently, as part of our Annual Report.