HAMBURG (dpa-AFX) - Fielmann Group AG (FLMNF.PK), on Tuesday, reported that Q1 group sales rose by 11% to EUR 529 million from EUR 478 million last year.
While the company's US business added more than EUR30 million in sales during the first quarter, its European business grew 4% over Q1/2023. Germany reached a growth rate of 3% over last year, and Switzerland recorded sales growth of 4% over the same period of last year. Austria improved 9% and Spain rose 10% over Q1/2023. Poland - once again - stood out with 36% growth over last year.
Despite the slower topline dynamic in Europe, Fielmann Group's Q1/2024 EBITDA increased by 11% to EUR 117 million from the previous year's EUR 106 million, while EBT improved by 7% to EUR 62 million from EUR 58 million reported in the prior year period.
In FY2024, the company said it expects to continue its strong topline growth at a similar pace as in 2023 and 'we are going to expand our bottom line with a proportional or slightly higher EBITDA increase as well as a slightly higher EBT margin.'
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