Optiker chain - Fielmann increases profit
The Optik chain Fielmann has significantly higher profits in the first half of the year. The savings program of Hamburg continues to pay off. Fielmann is able to withstand the weak consumption environment in Europe. The company expects further growth through the latest acquisitions in the USA. These will initially burden the profitability, but the company is optimistic about the future development.
In the market, the statements before the Annual General Meeting were well received. The paper in the small cap segment SDax gained approximately four percent in the morning. Traders evaluated the statements on the operating margin positively, expressing confidence. The sales development is solid.
US Business in Focus
According to preliminary calculations, the Ebitda result before taxes, taxes, and depreciation in the first six months increased by approximately 14 percent to around 235 million to 240 million Euro, as Fielmann reports from Hamburg. The corresponding margin was about 21.6 percent, compared to 21.2 percent the previous year. Fielmann benefited from the increasing share of more expensive progressive lenses and hearing systems, as well as its savings program. The pre-tax profit is expected to be around 125 million Euro, 16 percent higher. The turnover increased by 12 percent to 1.1 billion Euro.
Fielmann has been investing heavily in the USA in recent months. The US chain Shopko is the latest acquisition. The Hamburgers announced the acquisition, which is valued at around 290 million US dollars (around 268 Mio Euro), in June. According to Fielmann, Shopko operates over 140 stores in 13 US states. The company had previously emphasized the growth potential in the USA several times, at the end of April, CEO Marc Fielmann spoke of the largest market in the world.
- Despite the strong performance of Fielmann's Optik chain, the SDAX index in the small cap segment only saw a modest increase of around 4% after positive statements before the Annual General Meeting.
- Fielmann's budget program in Hamburg has been instrumental in the company's ability to maintain profitability despite the weak consumer environment in Europe.
- The latest acquisitions in the United States of America, such as the Shopko chain, are expected to bring about a 'leap in winnings' for Fielmann, although they will initially impact profitability.
- Optiker chains from Germany, like Fielmann, are gaining ground in the competitive European retail market, showcasing the country's strength in sectors like optics.
- Despite cautious buying trends in the market, the US-focused Optik chain Shopko, recently acquired by Fielmann, operates over 140 stores in 13 US states, indicating a substantial market presence.
- The success of Fielmann's international expansion strategy and its focus on premium products like progressive lenses and hearing systems has resulted in a significant Ebitda increase in the first half of the year, with revenues growing by 12%.
