Fielmann exceeds FY 2020 forecast
Business model proves robust despite the extensive restrictions in ayear of crisis
Thanks to its robust business model and the outstanding performance of its employees, the German market leader emerges from 2020 in a position of strength. After expectations were already adjusted upwards in September 2020, preliminary estimates show that Fielmann AG's results will probably exceed the forecast for the whole year. All of this despite the extensive restrictions due to the ongoing coronavirus pandemic.
According to preliminary estimates, Fielmann generated external sales (including VAT and inventory changes) of € 1,625 million (previous year: € 1,764.6 million). Consolidated sales are expected to stand at € 1,425 million (previous year: € 1,520.7 million). The pre-tax profit will reach nearly € 170 million (previous year: € 253.8 million).
As at the end of 2020, Fielmann operated 870 stores (previous year: 776 stores), including 80 stores of the Spanish optical chain Óptica & Audiología Universitaria acquired on 31 December 2020. The Spanish subsidiary will contribute to the Group's earnings for the first time in the 2021 fiscal year.
Thanks to the consistent application of our hygiene standards, we safeguarded the health of our customers and employees alike. With our online appointment tool we allow our customers to plan their visit in advance. At the same time, we welcome spontaneous walk-ins using our new digital time management tool. This way, Fielmann optimises the footfall in the store, minimises waiting times and maximises productivity.
As a financially successful family business, Fielmann enters the new year with confidence. Despite the economic challenges posed by the restrictions due to the ongoing coronavirus pandemic, our business development proves to be resilient and is less affected than it was at the beginning of the pandemic. This strengthens our determination to continue the implementation of our Vision 2025: we continue to invest and thus drive the digitisation and internationalisation of our business model.
Hamburg, 7 January 2021
The Management Board