EQS-News

Fielmann Group with +12% sales growth in 2023 and +11% growth in Q1/2024 - Seite 2

In total, the Fielmann Group reached external sales of €2.27 billion in FY2023. Consolidated sales rose to €1.97 billion (+12%, previous year: €1.76 billion). Because of our positive performance in Europe and a diligent execution of our Cost Leadership Program, we were able to significantly improve our profitability: In 2023, our EBITDA margin expanded by 1.5 percentage points to 20.8%. EBITDA amounted to €410 million (+21%, previous year: €340 million), while EBT reached €194 million (+21%, previous year: €160 million).

Q1/2024
In the beginning of 2024, a weak consumer sentiment, particularly in Germany, slowed down our business growth whereas a positive environment combined with an effective execution of our growth levers saw our US business contributing strongly.

In the first quarter of 2024, consolidated Fielmann Group sales increased by +11% to €529 million (previous year: €478 million). While our US business added more than €30 million in sales during the first quarter, our European business grew +4% over Q1/2023. Germany reached a growth rate of +3% over last year, Switzerland recorded sales +4% over the same period last year. Austria improved +9% and Spain went up +10% over Q1/2023. Poland – once again – stood out with +36% growth over last year.

Despite the slower topline dynamic in Europe, Fielmann Group’s Q1/2024 EBITDA increased by +11% to €117 million (previous year: €106 million) while EBT improved by +7% to €62 million (previous year: €58 million). A diligent execution of our cost leadership program partially compensated a significant personnel costs uptick in our European stores: At the beginning of the year Fielmann significantly increased salaries for opticians and acousticians and is making use of a tax-credited bonus scheme available to all employees in Germany. Our Q1/2024 performance in Europe is to be viewed with hard Q1/2023 comparables in mind (a one-off insurance reimbursement for hearing aid repairs in Germany and in 2023 Easter holidays were in Q2 rather than Q1). In April 2024 we observe an acceleration of our growth over last year, especially in Germany.