Inflation, the Ukraine war and weaker consumer sentiment will weigh on the results of the Fielmann optician chain this year. The company announced on Monday that the pre-tax profit should fall from 209.7 million euros to more than 190 million euros. Sales are expected to increase from almost 1.7 billion to around 1.8 billion euros. So far, Fielmann had promised sales growth of up to ten percent and a “noticeable” improvement in the profit margin.
According to preliminary calculations, the company recorded a decline in pre-tax earnings from EUR 54.2 million to EUR 39 million in the second quarter due to higher personnel costs and marketing expenses. Sales increased from almost 408 million to around 437 million euros. Fielmann benefited from sales of sunglasses and contact lenses, although these are not as profitable as the prescription glasses business, which grew more slowly. Fielmann also complained about burdens in connection with the pandemic. So there is a high sick leave rate.
The statements were not well received by investors. The company’s stock fell 4.5 percent. (dpa)