The Fielmann optician chain increased sales and profits significantly last year. Group sales rose by twelve percent to almost two billion euros, as the company announced on Thursday based on preliminary figures in Hamburg. Fielmann benefited from internal growth in its existing markets as well as acquisitions.
Earnings before interest, taxes, depreciation and amortization (Ebitda) are expected to have increased by a good fifth to 410 million euros in 2023. Profit before taxes rose by 20 percent to around 193 million euros. Fielmann attributed the increase to increased sales of more expensive progressive lenses, the ongoing savings program and lower marketing costs. The company thus achieved its own forecast. Analysts had hoped for slightly more from the result. Shareholders should receive a higher dividend of 1.00 euros per share, after 0.75 euros in the previous year.
Traditionally, Fielmann has not yet given an outlook for the current year. This should take place when the annual report is published in April. In the fourth quarter of 2023 and the beginning of 2024, most markets were characterized by subdued consumer sentiment, it said. In Germany, the propensity to buy has reduced. Nevertheless, the company remains optimistic that it will be able to further expand its market position in 2024. Fielmann sees additional growth opportunities in Eastern Europe, Spain and the USA. Thanks to the cost-saving program, profitability is expected to continue to improve. (dpa)