FINANCIAL REPORT AS AT 30 JUNE 2020
2
Fielmann Group: Financial Report
as at 30 June 2020
Dear Shareholders, Dear Friends of the Company,
As a result of the coronavirus pandemic, Fielmann AG's business operations have been significantly affected in the first half of 2020. Nonetheless, thanks to our robust business model, outstanding work by our employees and rigorous cost reductions, Fielmann recorded a positive result for the second quarter as well as for the first half of the year.
Interim company report
The economy is currently in a global recession as a result of the co- ronavirus pandemic. The economic output fell by 9.7% in the second quarter compared to the previous quarter. This represents the biggest decrease since quarterly reporting began in 1970. According to preliminary indications from the Federal Statistical Office, incoming orders in the manufacturing sector rose by 10.4% in May 2020 compared to the previous month, adjusted to season and calendar.
The use of the short-time work scheme in response to the coronavirus pandemic increased significantly. In April, 6.8 million employees in Germany were affected by the short-time work scheme. In addition, there was a noticeable increase in unemployment. Whereas the unemployment rate amounted to 5.0% in March, it increased to 6.4% in June. As at the reporting date, 2.94 million people are registered as unemployed.
The rate of inflation grew to 0.9% compared to the corresponding month of the previous year.
Report on the revenue, financial and assets situation
Units sold and sales revenue
Fielmann sold 3.1 million glasses in the first six months (previous year:
4.1 million). The Fielmann Group's external sales incl. VAT and changes in inventories fell in the same period to € 712.7 million (previous year: € 884.4 million), while consolidated sales dropped to € 610.8 million (previous year: € 758.2 million).
Unit sales in the second quarter fell to 1.4 million (previous year: 2.1 million). Over the same period, external sales fell to € 305.3 million (previous year: € 446.8 million) and consolidated sales to € 255.6 million (previous year: € 386.4 million).
First half-year 2020 3
Earnings and investments
Thanks to our robust business model, outstanding work by our employees and rigorous cost reductions, Fielmann recorded a positive result for the second quarter as well as for the first half of the year 2020 despite the coronavirus pandemic. The pre-tax profit amounted to € 37.5 million in the first half of the year (previous year: € 127.6 million) and the net income was
-
25.1 million (previous year: € 89.2 million). The EBITDA fell to € 107.5 million (previous year: € 191.7 million).
From April to June, the pre-tax profit amounted to € 19.9 million (previous year: € 60.5 million) and the net income stood at € 13.2 million (previous year: € 42.2 million).
In the first six months, investments totalled € 31.4 million (previous year: - 35.8 million). All investments were financed from our cash flow. The main focus of the investments was on the digitisation of the business model. As at 30 June, Fielmann operated 779 stores (previous year: 743), 212 of which also contained hearing aid studios (previous year: 202).
Earnings per share
in € 000s | 30 June 2020 | 30 June 2019 | ||
Consolidated net income for the period | 25,065 | 89,158 | ||
Income attributable to other shareholders | -770 | -2,499 | ||
Profits to be allocated to parent | 24,295 | 86,659 | ||
company shareholders |
Number of shares in '000 units
Own shares in '000 units
Number of shares in '000 units
Earnings per share
84,000
-45
83,955
0.29
84,000
-45
83,955
1.03
Dividend per share
Fielmann acted early to take the necessary measures shortly after the onset of the crisis in order to secure the liquidity and jobs. For this purpose, wide-ranging cost savings were implemented. To strengthen the liquidity, the Management Board and Supervisory Board proposed to the Annual General Meeting that the 2019 year-end result be carried forward, thereby maintaining company independence. The Annual General Meeting approved this applicatipn from the Management Board and Supervisory Board with 99.93%.
4
Information on the bodies of the Company
The period of office of the previous members of the Supervisory Board came to an end upon the closure of the Annual General Meeting 2020. The employee representatives were elected by vote on 29 June, while the shareholder representatives were appointed by resolution at the Annual General Meeting on 9 July 2020. The Supervisory Board is now composed as follows:
Supervisory Board members among shareholders
Prof. Dr. Mark K. Binz
(Chairman of the Supervisory Board)
Hans-Georg Frey
Carolina Müller-Möhl
Hans Joachim Oltersdorf
Marie-Christine Ostermann
Pier Paolo Righi
Sarna Marie Elisabeth Röser
Hans-Otto Schrader
Supervisory Board members among employees
Ralf Greve
(Deputy Chairperson of the Supervisory Board)
Heiko Diekhöner
Jana Furcht
Nathalie Hintz
Eva Schleifenbaum
Frank Schmiedecke
Frank Schreckenberg
Mathias Thürnau
Employees
Fielmann is Germany's largest employer in the optical industry with a total of 19,872 employees in the Group as at 30 June (previous year: 19,172), of which 3,808 are apprentices (previous year: 3,346). Fielmann is also the biggest training provider and accounts for more than 40% of all apprentices in Germany.
Accounting and valuation principles
The same accounting and valuation principles apply to the interim report of 30 June 2020 as to the annual financial statement of 31 December 2019 which was compiled according to International Financial Reporting Standards (IFRS and IAS). The result for the comparative period takes into account the actual tax ratio of the financial year 2019.
Effects of the coronavirus pandemic on the accounting
For Fielmann, the effects of the COVID-19 pandemic represent a so-called "triggering event" as per IAS 36, so that an impairment test for the cash generating units (CGUs) and individual assets was conducted by the reporting date. The pre-tax capitalisation rate now amounts to 7.4% (previously: 4.0%).
First half-year 2020 5
Determined based on adjusted planning, the recoverable amounts for the individual assets result in write-downs of T€ 1,748 and are divided as follows:
Assets
Tangible fixed assets
Rights of usufruct from leases
Intangible assets
in € 000s
1,098
525
125
The impairment costs are reported under "Other write-downs" and under "Write-downs on rights of usufruct from leases" and are divided between the segments according to the geographical location of the CGUs.
Segment | in € 000s | |
Germany | 780 | |
Switzerland | ||
470 | ||
Austria | ||
162 | ||
Other | 336 |
In the first six months, the reimburements of € 27.0 million received from the short-time work scheme and comparable measures abroad were used for personnel expenses. The short-time allowance in Germany and Italy is to be assigned to the respective employee as the beneficiary.
For this reason, only the partial amount of € 17.0 million applies as reimbursement of social security contributions and salary costs as per IAS 20.
Forecast, opportunities and risk report
Since 27 April 2020, Fielmann has been providing regular service at all stores during the usual opening times, has drawn up science-based hygiene standards to protect employees and customers, and has equipped all stores with sufficient protective glasses, protective masks, and disinfectant. The number of customers inside the stores is currently still limited, and people are asked to make appointments in advance. People are asked to make appointments in advance. Appointments for the chosen store can be made by phone or online on the company's website.
There is still a wide range of restrictions to our business operations. Fur- thermore, a new wave of infections cannot be ruled out. This results in a negative impact on units sold, sales revenue and profits, which cannot be forecast precisely.
6
Coronavirus pandemic
The Management Board continuously monitors and evaluates the situation for the Fielmann Group and the development of the restrictions to public life caused by the coronavirus pandemic. The implemented measures and the company's current economic development are securing the company's continuation.
Outlook
Based on the visible recovery in the course of the second quarter, for the year as a whole we expect external sales of over € 1.5 billion (previous year: € 1.76 billion), group sales of over € 1.3 billion (previous year: € 1.52 billion) and a pre-tax profit of over € 100 million (previous year: € 253.8 million). This forecast applies on the proviso that there are no further significant restrictions due to the coronavirus pandemic this year, which compromise our business activities.
Balance sheet oath
We affirm that to the best of our knowledge the consolidated accounts prepared in accordance with the applicable accounting regulations convey a view of the Group's assets, finances and income that is true and fair and that business development including business results and the position of the Group are presented in the Management Report for the Group in such a way as to provide a true and fair view as well as to portray the opportunities and risks inherent in the future development of the Group accurately.
Hamburg, August 2020 | Fielmann Aktiengesellschaft |
The Management Board |
First half-year 2020 7
Statement of the overall result
For the period from 1 January to 30 June
Consolidated net income for the period
Items which are reclassified under certain conditions and reported in the profit and loss account
Earnings from foreign exchange conversion, reported under equity
Items which will not be reclassified and reported in the profit and loss statement in future
Valuation of employee benefits in accordance with IAS 19
Other profit/loss after tax
Overall result
2020 | 2019 | Change from | ||||
previous year | ||||||
in € 000s | in € 000s | in % | ||||
25,065 | 89,158 | -71.9 | ||||
244 | 670 | -63.6 | ||||
-371 | -778 | -52.3 | ||||
-127 | -108 | 17.6 | ||||
24,938 | 89,050 | -72.0 |
of which attributable to minority interests | 770 | 2,499 | -69.2 | |||
of which attributable to parent company shareholders | 24,168 | 86,551 | -72.1 |
Explanatory notes on the financial result as at 30 June 2020
The figures for the previous year are indicated in parentheses:
in € 000s | Expenses | Income | Balance | |||||||
Result from cash and capital investments | -181 | (-105) | 371 | (620) | 190 | (515) | ||||
Result from on-balance sheet and other transactions | ||||||||||
not relating to financial assets | -1,715 | (-1,629) | 110 | (58) | -1,605 (-1,571) | |||||
Interest result | -1,896 | (-1,734) | 481 | (678) | -1,415 (-1,056) | |||||
Result from shares in associates | -202 | (-296 ) | 0 | (0) | -202 | (-296) | ||||
Write-ups and write-downs on financial assets and | ||||||||||
similar items | 0 | (0) | 0 | (0) | 0 | (0) | ||||
Financial result | -2,098 | (-2,030) | 481 | (678) | -1,617 (-1,352) |
8
Explanatory notes on the segment report
In accordance with the regional structure of the internal reporting system, Segment Reporting distinguishes between the geographic regions in which the Group offers and delivers products and services.
Information on related parties (IAS 24)
The contractual relations to the related parties described in the 2019 financial report continue in almost unchanged form. All transactions are made at the customary market prices and conditions and are of minor importance to the Fielmann Aktiengesellschaft.
After six months, the revenues amount to T€ 448 (previous year: T€ 505)
and the expenses to T€ 1,553 (previous year: T€ 1,905). The balances have been offset as at the reporting date.
Other information
The amount of 45,079 units of own shares was offset from the item "Securi- ties" (previous year: 45,183). The book value as at 30 June 2020 is T€ 3,084 (previous year: T€ 2,684). The quoted Fielmann shares were acquired within the meaning of § 71 Para. 1 No. 2 of the German Stock Corporation Act (AktG) in order to offer them to staff of Fielmann Aktiengesellschaft or its affiliated companies as employee shares.
Significant events after 30 June 2020
At the time of preparing the present report, there had been no significant events after the end of the second quarter which could have an effect on the assets, financial position and earnings of the Fielmann Aktiengesellschaft and Fielmann Group.
Explanatory notes on the cash flow statement
Cash and cash equivalents totaling € 130.6 million (previous year: € 218.7 million) include liquid funds as well as securities with a fixed term of up to three months. The development is in relation to the deferral of maturities as well as the temporary suspension of regular business operations due to the coronavirus pandemic.
First half-year 2020 9
Summary of financial assets
in € 000s | 30 June 2020 | 31 December 2019 | 30 June 2019 | ||||
Liquid funds | 107,220 | 100,818 | 165,462 | ||||
Capital investments with a specific maturi- | |||||||
ty of up to 3 months | 23,373 | 29,905 | 53,236 | ||||
Cash and cash equivalents | 130,593 | 130,723 | 218,698 | ||||
Non-current financial assets | 2,163 | 2,033 | 2,241 | ||||
Other non-current financial assets | 27,479 | 28,966 | 51,884 | ||||
Capital investments with a specific maturi- | |||||||
ty of more than 3 months | 112,752 | 105,837 | 116,439 | ||||
Financial assets | 272,987 | 267,559 | 389,262 |
Financial calendar 2020/21 | |
Analyst conference | 28 August 2020 |
Interim report | 12 November 2020 |
Preliminary figures 2020 | February 2021 |
Interim report | April 2021 |
Bloomberg code | FIE |
Reuters code | FIEG.DE |
Securities ID number/ISIN | DE0005772206 |
Further information:
Fielmann AG · Investor Relations
Ulrich Brockmann
Weidestraße 118 a · 22083 Hamburg · Germany
Telephone: + 49 (0) 40 / 270 76 - 442 · Fax: + 49 (0) 40 / 270 76 - 150
Email: investorrelations@fielmann.com · Internet: www.fielmann.com
10
Segment reporting 1 January to 30 June 2020 The previous year's figures are stated in parentheses.
in € million | Germany | Switzerland | Austria | Other | Consolidation | Consolidated | ||||||||||||
value | ||||||||||||||||||
Sales revenues from | ||||||||||||||||||
the segment | 511.9 | (640.3) | 70.8 | (88.7) | 34.2 | (44.9) | 24.2 | (25.6) | -30.3 | (-41.3) | 610.8 | (758.2) | ||||||
Sales revenues from | ||||||||||||||||||
other segments | 29.3 | (41.1) | 0.2 | (0.2) | 0.8 | (0.0) | ||||||||||||
Outside sales | ||||||||||||||||||
revenues | 482.6 | (599.2) | 70.8 | (88.7) | 34.0 | (44.7) | 23.4 | (25.6) | 610.8 | (758.2) | ||||||||
Cost of materials | 125.0 | (156.8) | 15.0 | (18.4) | 7.3 | (10.2) | 7.4 | (7.3) | -26.2 | (-36.0) | 128.5 | (156.7) | ||||||
Personnel costs | 235.6 | (253.4) | 34.5 | (35.8) | 14.5 | (16.3) | 10.3 | (9.7) | 294.9 | (315.2) | ||||||||
Scheduled depreciation | 48.9 | (47.2) | 8.0 | (7.3) | 3.0 | (3.2) | 6.8 | (5.0) | 66.7 | (62.7) | ||||||||
Expenses in the | ||||||||||||||||||
financial result | 1.8 | (1.5) | 0.2 | (0.3) | 0.1 | (0.2) | 0.3 | (0.4) | -0.3 | (-0.4) | 2.1 | (2.0) | ||||||
Income in the financial | ||||||||||||||||||
result | 0.6 | (0.9) | 0.2 | (0.2) | -0.3 | (-0.4) | 0.5 | (0.7) | ||||||||||
Earnings before tax | ||||||||||||||||||
- in segments excl. | 36.0 | (107.9) | 3.0 | (14.1) | 4.5 | (8.2) | -6.0(-2.6) | 0.0 | (0.0) | 37.5(127.6) | ||||||||
investment income | ||||||||||||||||||
Taxes on income and | ||||||||||||||||||
earnings | 12.4 | (33.6) | -0.3 | (2.5) | 0.3 | (1.4) | 0.0 | (1.0) | 12.4 | (38.5) | ||||||||
Consolidated net | ||||||||||||||||||
income for the | 23.6 | (74.3) | 3.3 | (11.6) | 4.2 | (6.8) | -6.0(-3.6) | 0.0 | (0.0) | 25.1 | (89.1) | |||||||
period | ||||||||||||||||||
Non-current segment | ||||||||||||||||||
assets excluding | ||||||||||||||||||
financial instruments | ||||||||||||||||||
and deferred tax assets | 577.1 | (563.5) | 77.5 | (80.4) | 35.0 | (40.5) | 83.5 | (62.2) | 773.1 | (746.6) | ||||||||
of which non-current | ||||||||||||||||||
segment assets | ||||||||||||||||||
excluding rights of | ||||||||||||||||||
usufruct from leases | 342.4 | (305.3) | 29.2 | (30.3) | 5.4 | (6.1) | 45.0 | (26.3) | 422.0 | (368.0) | ||||||||
of which rights of | ||||||||||||||||||
usufruct from leases | 234.7 | (258.2) | 48.3 | (50.1) | 29.6 | (34.4) | 38.5 | (35.9) | 351.1 | (378.6) | ||||||||
Additions to non- | ||||||||||||||||||
current segment assets | ||||||||||||||||||
excluding financial | ||||||||||||||||||
instruments and | ||||||||||||||||||
deferred tax assets | 47.9 | (315.5) | 1.4 | (55.7) | 0.3 | (37.9) | 3.4 | (43.5) | 53.0 | (452.6) | ||||||||
of which additions to | ||||||||||||||||||
non-current segment | ||||||||||||||||||
assets without rights of | ||||||||||||||||||
usufruct from leases | 28.2 | (29.9) | 1.5 | (0.4) | 0.2 | (1.1) | 1.5 | (4.4) | 31.4 | (35.8) | ||||||||
of which rights of | ||||||||||||||||||
usufruct from leases | 19.7 | (258.6) | -0.1 | (55.3) | 0.1 | (36.8) | 1.9 | (39.1) | 21.6 | (416.8) | ||||||||
Shares in associates | 4.7 | (4.9) | 4.7 | (4.9) | ||||||||||||||
Deferred tax assets | 11.8 | (10.6) | 0.3 | (0.0) | 0.3 | (0.3) | 0.3 | (0.8) | 12.7 | (11.7) |
First half-year 2020 11
Cash flow statement
Cash flow statement according to IAS 7 | |||||||||
for the period from 1 January to 30 June in € 000s | 2020 | 2019 | Change | ||||||
Earnings before taxes (EBT) | 37,508 | 127,636 | -90,128 | ||||||
-/+Profit shares of associates | 202 | 296 | -94 | ||||||
+ Statement-related interest expenditure from leases | 1,126 | 1,197 | -71 | ||||||
+ Statement-related other expenditure in the final result | 770 | 537 | 233 | ||||||
- Statement-related income in the final result | -481 | -678 | 197 | ||||||
+ Write-downs on tangible assets and intangible assets | 28,311 | 24,454 | 3,857 | ||||||
+ Write-downs on rights of usufruct from leases | 40,066 | 38,289 | 1,777 | ||||||
- Taxes on income paid | -21,445 | -40,822 | 19,377 | ||||||
+/- Other non-cash income/expenditure | -2,765 | -1,047 | -1,718 | ||||||
+/- Increase/decrease in accruals | -5,433 | 506 | -5,939 | ||||||
-/+ Profit/loss on disposal of tangible assets as properties kept as | |||||||||
financial investments and intangible assets | 117 | -48 | 165 | ||||||
-/+Increase/decrease in inventories, trade debtors and other assets not | |||||||||
attributable to investment or financial operations | -32,562 | -402,602 | 370,040 | ||||||
+/- Increase/decrease in trade creditors and other liabilities not attri- | |||||||||
butable | |||||||||
to investment or financial operations | 17,832 | 408,069 | -390,237 | ||||||
- | Interest paid | -399 | -302 | -97 | |||||
+ | Interest received | 103 | 461 | -358 | |||||
= Cash flow from operating activities | 62,950 | 155,946 | -92,996 | ||||||
Receipts from the disposal of tangible assets | 86 | 154 | -68 | ||||||
- Payments for tangible assets | -16,696 | -21,453 | 4,757 | ||||||
- Payments for intangible assets | -14,673 | -14,304 | -369 | ||||||
+ Receipts from the disposal of financial assets | 67 | 74 | -7 | ||||||
- Payments for financial assets | -197 | 0 | -197 | ||||||
+ Receipts from the disposal of securities and | |||||||||
other investments | 77,830 | 73,522 | 4,308 | ||||||
Payments for the acquisition of securities and | |||||||||
- | other investments | -64,369 | -70,758 | 6,389 | |||||
= Cash flow from investment activities | -17,952 | -32,765 | 14,813 | ||||||
Payments to company owners and non-controlling shareholders | -821 | -2,390 | 1,569 | ||||||
+/- Sale/Acquisition of own shares | -2,319 | -1,951 | -368 | ||||||
+ Receipts from loans raised | 141 | 59 | 82 | ||||||
- | Repayment of loans | -93 | -141 | 48 | |||||
- Payments for liabilities from leases | -40,189 | -38,715 | -1,474 | ||||||
- | Payments for the acquisition of additional shares in subsidiaries | -1,517 | 0 | -1,517 | |||||
= Cash flow from financing activities | -44,798 | -43,138 | -1,660 | ||||||
Changes in cash and equivalents | 200 | 80,043 | -79,843 | ||||||
+/- Changes in cash and equivalents due to exchange rates | -330 | 98 | -428 | ||||||
+ Cash and equivalents at the beginning of the period | 130,723 | 138,557 | -7,834 | ||||||
= Cash and equivalents at the end of the period | 130,593 | 218,698 | -88,105 |
12
in € 000s
Position as at 1 January 2020
Net profit for the year
Other profit Overall result Dividends/profit shares1 Share-based remuneration Own shares
Share changes in subsidiaries
Acquisition of non-controlling interests shares Position as at 30 June 2020
in € 000s
Position as at 1 January 2019
Net profit for the year
Other profit
Overall result
Dividends/profit shares1
Share-based remuneration
Own shares
Position as at 30 June 2019
Subscribed capital | Capital | |
reserves | ||
84,000 | 92,652 | |
84,00092,652
Subscribed capital | Capital | |
reserves | ||
84,000 | 92,652 | |
84,00092,652
1 Dividends paid and share of profit allocated to other shareholders
First half-year 2020 13
Consolidated equity of the parent company's shareholders
Other reserves | ||||||||||
Retained earnings | Currency | Valuation | Reserves for | Reserves for | ||||||
translation | reserves | own shares | share-based | |||||||
reserves | IAS 19 | remuneration | ||||||||
526,444 | 20,696 | -2,948 | -765 | 2,534 | ||||||
24.295 | ||||||||||
244 | -371 | |||||||||
24,295 | 244 | -371 |
-7 | ||||||||||
-2,319 | ||||||||||
-543 | ||||||||||
550,196 | 20,940 | -3,319 | -3,084 | 2,527 | ||||||
Consolidated equity of the parent company's shareholders | ||||||||||
Other reserves | ||||||||||
Retained earnings | Currency | Valuation | Reserves for | Reserves for | ||||||
translation | reserves | own shares | share-based | |||||||
reserves | IAS 19 | remuneration | ||||||||
514,391 | 18,726 | -2,254 | -733 | 2,227 | ||||||
86,659 | ||||||||||
670 | -778 | |||||||||
86,659 | 670 | -778 | ||||||||
14 | ||||||||||
-1,951 | ||||||||||
601,050 | 19,396 | -3,032 | -2,684 | 2,241 | ||||||
First half-year 2020 14
Equity | |||||||
Total | Total | Non-controlling interests | |||||
19,517 | 722,613 | 4,037 | 726,650 | ||||
24,295 | 770 | 25,065 | |||||
-127 | -127 | -127 | |||||
-127 | 24,168 | 770 | 24,938 | ||||
-821 | -821 | ||||||
-7 | -7 | -7 | |||||
-2,319 | -2,319 | -2,319 | |||||
262 | 262 | ||||||
-543 | -543 | ||||||
17,064 | 743,912 | 4,248 | 748,160 | ||||
Total | Total | Non-controlling interests | Equity | ||||
17,966 | 709,009 | 207 | 709,216 | ||||
86,659 | 2,499 | 89,158 | |||||
-108 | -108 | -108 | |||||
-108 | 86,551 | 2,499 | 89,050 | ||||
-2,390 | -2,390 | ||||||
14 | 14 | 14 | |||||
-1,951 | -1,951 | -1,951 | |||||
15,921 | 793,623 | 316 | 793,939 | ||||
15
Consolidated profit and loss account
For the period from | II. Quarter 2020 | II. Quarter 2019 | Change from pre- | ||||
1 April to 30 June 2020 | in €000s | in €000s | vious year in % | ||||
1. | Consolidated sales | 255,582 | 386,438 | -33.9 | |||
2. | Changes in inventories | 11,622 | -1,200 | -1068.5 | |||
Total consolidated sales | 267,204 | 385,238 | -30.6 | ||||
3. | Other operating income | 3,863 | 5,958 | -35.2 | |||
4. | Cost of materials | -50,478 | -83,578 | -39.6 | |||
5. | Personnel costs | -131,408 | -157,378 | -16.5 | |||
6. | Write-downs on rights of usufruct from leases | -20,292 | -19,104 | 6.2 | |||
7. | Other write-downs | -14,935 | -12,831 | 16.4 | |||
8. | Other operating expenses | -33,430 | -56,834 | -41.2 | |||
9. | Interest expenditure from leases | -550 | -636 | -13.5 | |||
10. | Other expenses in the financial result | -322 | -460 | -30.0 | |||
11. | Income in the financial result | 211 | 100 | 111.0 | |||
12. | Result before taxes | 19,863 | 60,475 | -67.2 | |||
13. | Taxes on income and earnings | -6,631 | -18,231 | -63.6 | |||
14. | Net income for the quarter | 13,232 | 42,244 | -68.7 | |||
15. | Income attributable to minority interests | -658 | -1,297 | -49.3 | |||
16. | Profits to be allocated to parent company | ||||||
shareholders | 12,574 | 40,947 | -69.3 | ||||
Earnings per share in € (diluted/basic) | 0.15 | 0.49 |
Consolidated profit and loss account
For the period from | 2020 | 2019 | Change from pre- | |||||
1 January to 30 June 2020 | in €000s | in €000s | vious year in % | |||||
1. | Consolidated sales | 610,844 | 758,196 | -19.4 | ||||
2. | Changes in inventories | 9,281 | 6,438 | 44.2 | ||||
Total consolidated sales | 620,125 | 764,634 | -18.9 | |||||
3. | Other operating income | 7,976 | 9,702 | -17.8 | ||||
4. | Cost of materials | -128,549 | -156,693 | -18.0 | ||||
5. | Personnel costs | -294,900 | -315,233 | -6.5 | ||||
6. | Write-downs on rights of usufruct from leases | -40,066 | -38,289 | 4.6 | ||||
7. | Other write-downs | -28,311 | -24,454 | 15.8 | ||||
8. | Other operating expenses | -97,150 | -110,679 | -12.2 | ||||
9. | Interest expenditure from leases | -1,126 | -1,197 | -5.9 | ||||
10. | Other expenses in the financial result | -972 | -833 | 16.7 | ||||
11. | Income in the financial result | 481 | 678 | -29.1 | ||||
12. | Result before taxes | 37,508 | 127,636 | -70.6 | ||||
13. | Taxes on income and earnings | -12,443 | -38,478 | -67.7 | ||||
14. | Consolidated net income for the period | 25,065 | 89,158 | -71.9 | ||||
15. | Income attributable to minority interests | -770 | -2,499 | -69.2 | ||||
16. | Profits to be allocated to parent company | |||||||
shareholders | 24,295 | 86,659 | -72.0 | |||||
Earnings per share in € (diluted/basic) | 0.29 | 1.03 |
First half-year 2020 16 | |||||||
Consolidated balance sheet | |||||||
Assets | Position as at | Position as at | |||||
30 June 2020 | 31 December 2019 | ||||||
in €000s | in €000s | ||||||
A. Non-current fixed assets | |||||||
I. Intangible assets | 72,295 | 63,720 | |||||
II. Goodwill | 54,637 | 54,562 | |||||
III. Tangible assets | 283,650 | 288,999 | |||||
IV. Investment property | 11,450 | 11,649 | |||||
V. Rights of usufruct from leases | 351,053 | 370,630 | |||||
VI. Shares in associates | 4,743 | 4,945 | |||||
VII. Other financial assets | 2,163 | 2,033 | |||||
VIII. Deferred tax assets | 12,687 | 10,911 | |||||
IX. Other financial assets | 27,479 | 28,966 | |||||
X. Receivables from leases | 660 | 894 | |||||
820,817 | 837,309 | ||||||
B. Current assets | |||||||
I. Inventories | 168,450 | 158,724 | |||||
II. Trade debtors | 36,604 | 38,910 | |||||
III. Other financial assets | 49,495 | 55,608 | |||||
IV. Non-financial assets | 34,921 | 24,796 | |||||
V. Tax assets | 17,793 | 14,678 | |||||
VI. Financial assets | 112,752 | 105,837 | |||||
VII. Cash and cash equivalents | 130,593 | 130,723 | |||||
550,608 | 529,276 | ||||||
1,371,425 | 1,366,585 | ||||||
Liabilities | Position as at | Position as at | |||||
30 June 2020 | 31 December 2019 | ||||||
in €000s | in €000s | ||||||
A. Equity | |||||||
I. Subscribed capital | 84,000 | 84,000 | |||||
II. Capital reserves | 92,652 | 92,652 | |||||
III. Profit reserves | 550,196 | 526,444 | |||||
IV. Other reserves | 17,064 | 19,517 | |||||
Consolidated equity of the parent company's shareholders | 743,912 | 722,613 | |||||
V. Non-controlling interests | 4,248 | 4,037 | |||||
748,160 | 726,650 | ||||||
B. Non-current liabilities | |||||||
I. Accruals | 29,584 | 30,642 | |||||
II. Financial liabilities | 1,246 | 1,211 | |||||
III. Deferred tax liabilities | 16,201 | 17,601 | |||||
IV. Liabilities from leases | 275,511 | 296,001 | |||||
C. Current liabilities | 322,542 | 345,455 | |||||
I. Accruals | 42,289 | 46,663 | |||||
II. Financial liabilities | 96 | 83 | |||||
III. Liabilities from leases | 77,740 | 76,074 | |||||
IV. Trade creditors | 62,450 | 72,722 | |||||
V. Other financial liabilities | 23,684 | 24,931 | |||||
VI. Non-financial liabilities | 88,542 | 64,744 | |||||
VII. Income tax liabilities | 5,922 | 9,263 | |||||
300,723 | 294,480 | ||||||
1,371,425 | 1,366,585 |
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Fielmann AG published this content on 26 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 August 2020 07:56:06 UTC