Fielmann’s shares fell to the deepest level for more than two months after the announcement of detailed half -year numbers of the optician chain. So the results did not bring real news.
Finally, the papers made up for part of their initial loss and recently noted 5.7 percent in the red of 53.40 euros. With a price gain of around 28 percent in the current year, the papers are still among the better values in the small -scale sdax.
With his half -year report, Fielmann confirms the key data published in July and again the annual finance targets. Analyst Thomas Maul from DZ Bank does not expect any major adjustments to the consensus estimates in view of the affirmed annual outlook. He welcomed the ambitious business goals, but sees increased risks for his margin and dividend expectations in the upcoming expansion phase.
Fielmann’s sales goal implies a strong development in the United States, where further significant acquisitions can also be expected, commented on a dealer. However, the margin goal of 25 percent requires that the profitability of the US business must improve significantly. In this respect, he continues to consider the expansion of the company in the United States with caution.