HY1 2021 interim report
Double digit sales (+56%) and triple digit profit growth (+173%) in Q2, outlook confirmed
The Fielmann Group has accelerated its recovery in the first half of 2021. Increasing vaccination rates and decreasing coronavirus incidences coupled with a continued rollout of our omnichannel platform have contributed to a positive development across all major markets. Compared to the second quarter of last year, sales revenues grew by double digits while profits even reached triple-digit growth over the same period.
In the second quarter of 2021, the Fielmann Group’s external sales increased by 56% to €474.9 million (previous year: €305.3 million) and consolidated sales rose by 60% to €407.7 million (previous year: €255.6 million). From April to June, the pre-tax profit grew by 173% to €54.2 million (previous year: €19.9 million) and the net income increased by 163% to €36.0 million (previous year: €13.7 million).
In the first half of this financial year, external sales incl. VAT and changes in inventories rose by 29% to €919.8 million (previous year: €712.7 million), while consolidated sales increased by the same rate to €789.6 million (previous year: €610.8 million). The pre-tax profit grew by 156% to €96.0 million in the first half of the year (previous year: €37.5 million) and the net income grew by 150% over last year, reaching €64.5 million (previous year: €25.8 million).
As at 30 June 2021, the Fielmann Group operated an omnichannel business model with digital sales channels across all major markets as well as 885 stores (previous year: 779), 298 of which also contained hearing aid studios (previous year: 212). 21,427 employees (previous year: 19,872) contributed to our success. By launching its omnichannel sales platform with an online shop and our first retail store in Prague, Fielmann entered the 16th European market.
In pursuit of its Vision 2025 the Fielmann Group continues to invest more than €100 million per year in the extension of its omnichannel platform, its retail store network, and its international expansion. For the full year 2021, we plan to deploy digital sales channels in additional countries and to open a total of 45 new optical retail stores across Europe.
Based on the considerable recovery during the first half of the year 2021, we expect external sales of more than €1.9 billion (previous year: €1.6 billion), group sales of €1.7 billion (previous year: €1.4 billion) and a pre-tax profit of more than €200 million (previous year: €175.5 million) for the year as a whole.
This prognosis applies on the proviso that no further restrictions due to the coronavirus pandemic occur during the year.
Hamburg, 26 August 2021
The Management Board