HAMBURG (dpa-AFX) - Fielmann Group AG (FLMNF.PK) a German eyewear and hearing aid company, on Thursday confirmed its preliminary results that EBITDA for the first half improved on higher revenues. The company also confirmed its full-year earnings outlook.
Half yearly EBITDA increased 21.5 percent to 208 million euros from 171 million euros for the same period last year bringing the EBITDA margin to 21 percent from 20 percent.
Earnings before tax rose 21.4 percent to 108 million euros from 89 million euros of last year, on favourable development driven by Vision 2025 investments leading to strong e-commerce sales and international sales growth over the previous year.
The external sales climbed 13.6 percent to 1.13 billion euros 994 million euros of the prior year. Consolidated sales also increased by the same rate to 971 million euros from 855 million euros last year.
Looking ahead to the full year, the company still expects to reach the EBITDA margin of 25 percent as communicated in the Vision 2025 plan.
The company also expects to conclude the acquisition of the SVS and that it will add to Fielmann Group sales immediately, but the contribution to EBITDA will be minimal in 2023 as it will be offset by acquisition costs. It expects significant improvement from the acquisition in 2024.
Currently, shares of Fielmann are trading at 46.00 euros up 0.74% on the Xetra stock exchange.
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