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MarketScreener Homepage  >  Equities  >  Xetra  >  Fielmann Aktiengesellschaft    FIE   DE0005772206

FIELMANN AKTIENGESELLSCHAFT

(FIE)
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Fielmann AG: Fielmann implements additional measures to contain the coronavirus spread

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03/19/2020 | 03:05pm EDT

DGAP-Ad-hoc: Fielmann AG / Key word(s): Profit Warning
Fielmann AG: Fielmann implements additional measures to contain the coronavirus spread

19-March-2020 / 21:00 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Store operations stopped in various countries, in Germany only emergency service
The coronavirus pandemic significantly affects daily lives as well as the economies across Europe. Many countries have implemented tight measures to curb the spread of the virus.
In the recent days, national and regional authorities have ordered Fielmann to close down its shops in Italy, Austria and Slovenia as well as a few stores in Poland. On 20 March 2020, Fielmann will also temporarily shut down its regular operations of stores in Germany and Switzerland. By implementing this measure, Fielmann contributes to the slowdown of the virus. At the same time, we fulfil our statutory obligations in Germany and Switzerland through an emergency service. We will temporarily stop the regular sale of eyewear, contact lenses and hearing systems. Our subscription and e-commerce services will continue to serve our contact lens customers.
The closure of our stores across our markets implies a sales loss of about 5 million ? per day. The duration and extent of our store closures is currently not foreseeable. The further development is highly dependent on political decisions and their effectiveness in containing the spread of the coronavirus. During these times of crisis, Fielmann stands behind its employees. In Germany and Switzerland, we have given all our opticians and hearing aid acousticians a job guarantee. We voluntarily supplement the available Kurzarbeitergeld (public relief funds available in Germany and Switzerland) so that all store employees continue to receive 100% of their income during these difficult times.
As further restrictions of public life and commerce are imminent during the next few weeks, this may have a significant negative impact on our unit sales, sales and profits. The extent of this impact cannot be determined at this point. The same applies to any forecast for the financial development during the next few months or the whole year.
 

Information and Explanation of the Issuer to this News:

Fielmann implements additional measures to contain the coronavirus spread
Store operations stopped in various countries, in Germany only emergency service
The coronavirus pandemic significantly affects daily lives as well as the economies across Europe. Many countries have implemented tight measures to curb the spread of the virus. Fielmann complies with the requirements of all relevant authorities, follows the recommendations of the Robert Koch Institute and implements additional measures to protect its customers and its employees.
In the recent days, national and regional authorities have ordered Fielmann to close down its shops in Italy, Austria and Slovenia as well as a few stores in Poland. On 20 March 2020, Fielmann will also temporarily shut down its regular operations of stores in Germany and Switzerland. By implementing this measure, Fielmann contributes to the slowdown of the virus. At the same time, we fulfil our statutory obligations in Germany and Switzerland through an emergency service that supports, in particular, critical professions, such as doctors, medical staff, police, fire service, food supply etc.. This emergency service is available at limited opening hours during which we take additional precautions. We will temporarily stop the regular sale of eyewear, contact lenses and hearing systems. Our subscription and e-commerce services will continue to serve our contact lens customers. Further information is available at www.fielmann.de.
The closure of our stores evidently leads to significant business risk. The duration and extent of our store closures is currently not foreseeable. The further development is highly dependent on political decisions and their effectiveness in containing the spread of the coronavirus. During these times of crisis, Fielmann - being a family business - stands behind its employees. In Germany and Switzerland, we have given all our opticians and hearing aid acousticians a job guarantee. We voluntarily supplement the available Kurzarbeitergeld (public relief funds available in Germany and Switzerland) so that all store employees continue to receive 100% of their income during these difficult times. In all other countries, preparations to safeguard our employees' jobs are ongoing.
As further restrictions of public life and commerce are imminent during the next few weeks, this may have a significant negative impact on our unit sales, sales and profits. The extent of this impact cannot be determined at this point. The same applies to any forecast for the financial development during the next few months or the whole year.
As a family business with solid finances, Fielmann is however confident to master this crisis from a position of strength. We will continue to successfully implement our Vision 2025.
 
For more information, please contact:
Katrin Carstens, Deputy Head of Corporate Communications, Phone: 040/270 76 - 5907
Ulrich Brockmann, Head of Investor Relations, Phone: 040/270 76 - 442

 

19-March-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: Fielmann AG
Weidetrasse 118a
22083 Hamburg
Germany
Phone: +49 (0)40 270 76-0
Fax: +49 (0)40 270 76-390
Internet: www.fielmann.de
ISIN: DE0005772206
WKN: 577220
Indices: MDAX
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange
EQS News ID: 1002499

 
End of Announcement DGAP News Service

1002499  19-March-2020 CET/CEST

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© EQS 2020
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