The Fielmann optics group recorded a significant increase in sales and profits in the third quarter. The company benefited from strong organic growth in its existing markets, as the SDax-listed company announced in Hamburg on Thursday. The recession and poor consumer sentiment played into Fielmann’s hands, the management explained the development in the quarter. Acquisitions and cost savings gave the chain an additional boost.
Group sales rose by 13.8 percent to around 526 million euros in the quarter. Organic growth was ten percent, with purchases accounting for the rest. The ongoing austerity program had a positive impact on the results. Earnings before interest, taxes, depreciation and amortization (Ebitda) rose disproportionately by more than a third to 130 million euros. Before taxes, Fielmann earned 65 million euros, a quarter more than in the same period last year. The company performed better than analysts had previously expected.
Fielmann confirmed the annual forecast, which was increased in September due to the completion of two takeovers in the USA. External sales (including VAT and inventory changes) and group sales are each expected to increase by around 13 percent to around 2.3 billion and 2.0 billion euros, respectively. The operating result (Ebitda) and the pre-tax result are expected to grow by 18 percent each to around 400 million and over 190 million euros, respectively. (dpa)