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    FIE   DE0005772206

FIELMANN AG

(FIE)
  Report
Real-time Estimate Quote. Real-time Estimate Tradegate - 12/07 02:30:00 am
58.75 EUR   +0.34%
11/18FIELMANN AG : Gets a Buy rating from Kepler Cheuvreux
MD
11/15FIELMANN AG : DZ Bank reiterates its Buy rating
MD
11/12FIELMANN AG : Warburg Research reiterates its Buy rating
MD
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Fielmann : HY1 2021 interim report

08/26/2021 | 04:11am EST
Double digit sales (+56%) and triple digit profit growth (+173%) in Q2, outlook confirmed

The Fielmann Group has accelerated its recovery in the first half of 2021. Increasing vaccination rates and decreasing coronavirus incidences coupled with a continued rollout of our omnichannel platform have contributed to a positive development across all major markets. Compared to the second quarter of last year, sales revenues grew by double digits while profits even reached triple-digit growth over the same period.

Q2 2021

In the second quarter of 2021, the Fielmann Group's external sales increased by 56% to €474.9 million (previous year: €305.3 million) and consolidated sales rose by 60% to €407.7 million (previous year: €255.6 million). From April to June, the pre-tax profit grew by 173% to €54.2 million (previous year: €19.9 million) and the net income increased by 163% to €36.0 million (previous year: €13.7 million).

HY1 2021

In the first half of this financial year, external sales incl. VAT and changes in inventories rose by 29% to €919.8 million (previous year: €712.7 million), while consolidated sales increased by the same rate to €789.6 million (previous year: €610.8 million). The pre-tax profit grew by 156% to €96.0 million in the first half of the year (previous year: €37.5 million) and the net income grew by 150% over last year, reaching €64.5 million (previous year: €25.8 million).

As at 30 June 2021, the Fielmann Group operated an omnichannel business model with digital sales channels across all major markets as well as 885 stores (previous year: 779), 298 of which also contained hearing aid studios (previous year: 212). 21,427 employees (previous year: 19,872) contributed to our success. By launching its omnichannel sales platform with an online shop and our first retail store in Prague, Fielmann entered the 16th European market.
Outlook

In pursuit of its Vision 2025 the Fielmann Group continues to invest more than €100 million per year in the extension of its omnichannel platform, its retail store network, and its international expansion. For the full year 2021, we plan to deploy digital sales channels in additional countries and to open a total of 45 new optical retail stores across Europe.

Based on the considerable recovery during the first half of the year 2021, we expect external sales of more than €1.9 billion (previous year: €1.6 billion), group sales of €1.7 billion (previous year: €1.4 billion) and a pre-tax profit of more than €200 million (previous year: €175.5 million) for the year as a whole.

This prognosis applies on the proviso that no further restrictions due to the coronavirus pandemic occur during the year.

Hamburg, 26 August 2021

Fielmann Aktiengesellschaft
The Management Board


Further information:
Katrin Carstens, Director Corporate Communications, Phone: +49(0)40 270 76 - 5907
Ulrich Brockmann, Director Investor Relations, Phone: +49(0)40 270 76 - 442


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Disclaimer

Fielmann AG published this content on 26 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 August 2021 08:10:08 UTC.


ę Publicnow 2021
All news about FIELMANN AG
11/18FIELMANN AG : Gets a Buy rating from Kepler Cheuvreux
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Analyst Recommendations on FIELMANN AG
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Financials
Sales 2021 1 686 M 1 905 M 1 905 M
Net income 2021 154 M 174 M 174 M
Net Debt 2021 2,49 M 2,81 M 2,81 M
P/E ratio 2021 31,9x
Yield 2021 2,94%
Capitalization 4 918 M 5 546 M 5 555 M
EV / Sales 2021 2,92x
EV / Sales 2022 2,67x
Nbr of Employees 22 245
Free-Float 28,3%
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Mean consensus BUY
Number of Analysts 9
Last Close Price 58,55 €
Average target price 70,44 €
Spread / Average Target 20,3%
EPS Revisions
Managers and Directors
Marc Fielmann Chief Executive Officer & Head-Strategy
Georg Alexander Zeiss Head-Finance, Properties & Legal Compliance
Mark Karlheinz Binz Chairman-Supervisory Board
Hans Joachim Oltersdorf Member-Supervisory Board
Pier Paolo Righi Member-Supervisory Board
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