HAMBURG (dpa-AFX) - Fielmann Group AG (FLMNF.PK), a German eyewear company, reported that its profit attributable to the shareholders of the parent company for the half year period ended 30 June 2024 rose to 86.23 million euros or 1.03 euros per share from 69.92 million euros or 0.83 euros per share last year.
Earnings before interest, taxes, depreciation and amortization or EBITDA grew 13.7% to 236.81 million euros from 208.21 million euros in the prior year.
The Fielmann Group's eyewear sales increased by 3% to a total of 4.5 million pairs of glasses in the period January to June 2024 from the previous year.
Total sales rose by 11.3% year-over-year to 1.09 billion euros. Organic sales growth was 5%.
Looking ahead for the full year 2024, Fielmann expects consolidated sales of 2.3 billion euros, up 15 percent over last year. At Group level, including Fielmann USA, the company projects an increased EBITDA margin in 2024 compared to previous year when adjusting for transaction and integration costs.
Group EBT margin is set to increase both in 2024 and 2025.
For European markets, the company expects to reach an EBITDA margin of about 23 percent in 2024 and confirmed Vision 2025 goal of 25 percent in 2025.
Fielmann USA is starting at a lower profitability base but will significantly improve its EBITDA margin in 2024 and 2025.
In 2025, EBITDA margin is expected to reach about 24 percent at Group level when including the newly acquired US businesses.
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