Letter from the CEO
Dear shareholders and friends of the company,
2025 was a historic year for the Fielmann Group. We not only achieved the goals of our Vision 2025 – we exceeded them.
In a challenging macroeconomic environment marked by geopolitical tensions and weak consumer sentiment in Germany, we delivered consistently high customer satisfaction, the highest total consolidated sales and the highest net income in the history of our family business.
2025 Balance Sheet Highlights
Free cash flow
€
380
m
(FY24: €79m)
Leverage ratio
1.2
x
(FY24: 1.7x)
Equity ratio
40.2
%
(FY24: 38.8%)
Outlook for 2026
Customer satisfaction
around
90
%
Total consolidated sales
€
2.55
bn
–
€
2.60
bn
Adjusted EBITDA margin
around
23
%
Adjusted EBITDA
€
590
m
–
€
610
m
Adjusted EBT margin
12
–
13
%
Vision 2035 and
targets 2030
Vision 2035
As the most trusted partner for hearing and vision, we redefine comprehensive care globally.
Targets 2030
Customer satisfaction
around
90
%
Total consolidated sales
around €
4
bn
(€3.8bn–€4.2bn)
Adjusted EBITDA margin
around
25
%
Investor Relations contact
Nils Scharwaechter
Director Investor Relations
E-mail:
investorrelations@fielmann.com