Katrin Carstens

Ulrich Brockmann

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 &amp; 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.&nbsp;Hamburg, 7 January 2021&nbsp;Fielmann Aktiengesellschaft The Management Board &nbsp;

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Business model proves robust despite the extensive restrictions in ayear of crisis

Fielmann exceeds FY 2020 forecast

Fielmann AG acquires an 80 percent equity ownership stake in Óptica &amp; Audiología Universitaria, thereby entering the 15th European market. The transaction is effective as of December 31, 2020, and marks an important step in the continued internationalisation of the Fielmann Group.With about 400,000 glasses sold and more than € 100 million in sales (2019), Óptica &amp; Audiología Universitaria is the third-largest retail chain in Continental Europe's fourth-largest optical market. The family business currently operates 80 stores with more than 1,000 employees in Spain. During the ongoing fiscal year, the company outperformed its competitors and gained market share.

"With Óptica &amp; Audiología Universitaria we acquire one of the leading optical businesses in Spain. Its strict customer focus, highly qualified staff, superior products at the best prices and an outstanding productivity make the company a perfect match for us. Through synergies within the Fielmann Group, we will further accelerate the growth of Óptica &amp; Audiología Universitaria. Our long-term plan constitutes selling more than 900,000 glasses and generating sales of more than € 250 million. This acquisition is another important step in our Vision 2025. Fielmann is shaping the industry across the continent to the benefit of consumers," says Marc Fielmann, CEO of Fielmann AG. "In 2021, we will further drive our international expansion, gain additional market share in both our core and growth markets and enter an additional new market."Manuel Caballero and Rufo Gómez, founders of Óptica &amp; Audiología Universitaria, retain a 20 percent equity stake and will continue to actively develop the business: "Digitisation and internationalisation are the two key challenges affecting our industry today. Thanks to Fielmann, we not only gain access to significant financial resources, an international supply chain and a superior omnichannel platform but also win a family business with shared values as a strategic partner. We will utilise the Fielmann Group's resources to grow Óptica &amp; Audiología Universitaria and to attain market leadership." In 2021, Óptica &amp; Audiología Universitaria is going to open 10 new stores in Spain. In the long-term, the company plans to operate more than 200 stores across the country.About Fielmann AGFielmann stands for fashionable eyewear at fair prices. The stock-listed family business is based in Hamburg, Germany, and operates its own design studios, production facilities and about 800 stores across 14 European countries. With its omnichannel business model, the company serves more than 25 million customers. Its main products are eyewear, contact lenses and hearing aids. Fielmann owes its success to its more than 21,000 competent and motivated employees who embody the company's customer-centric philosophy. In 2019, Fielmann sold 8.3 million glasses, generated external sales (incl. VAT) of € 1.76 billion and a pre-tax profit of € 253.8 million. Being a social family business, Fielmann contributes to the communities it operates in, sponsors thousands of youth sport teams across Europe, supports heritage preservation and various projects aimed at protecting the environment and the climate. Since 1984, the company is planting a tree for every employee each year - so far this amounts to more than 1.6 million trees and bushes.About Óptica &amp; Audiología UniversitariaFounded in 1992, Óptica &amp; Audiología Universitaria is thriving thanks to a clear focus on the customer and an offer of leading brands at the best prices. The family business has quickly become one of the top three chains in Spain and today operates 80 shops in Alicante, Barcelona, Castellón, Girona, Lérida, Madrid, Murcia, the Balearic Islands, Tarragona, Valencia, and Zaragoza.

Acquisition of third-largest optical retail group in Spain is part of Fielmann's Vision 2025

Fielmann drives international expansion, acquires Óptica & Audiología Universitaria in Spain

Effective as of 1 March 2021, Katja Gross will be appointed as Executive Director of Fielmann AG. She will lead all HR functions of the Fielmann Group, a position previously held by CEO Marc Fielmann since 2018 on an interim basis. This appointments marks the end of a two-year succession process.As the CEO of Fielmann Group, Marc Fielmann continues to be responsible for the company's philosophy and its strategy as well as for the Marketing, Communications, Product Development, Digital and IT departments as well as central functions."The basis for our success is having highly skilled employees who embody our customer-friendly philosophy. With the Supervisory Board's appointment of Katja Gross as Executive Director, we conclude an important, long-term succession process. Within her 19 years in our company, Katja has gained extensive experience regarding our organization and its philosophy. During the coronavirus pandemic she has proven herself as structured but also empathetic senior manager", says Marc Fielmann, CEO of Fielmann Group.

"We are looking forward to working with her on the board level. Surely, Katja and her organization will play a leading role in shaping our Vision 2025 by executing the international HR strategy as well as our group-wide leadership program."

Katja Gross holds a German diploma degree in Psychology as well as a Master's degree in Corporate Law. She started her career with Fielmann in 2001 as manager in the company's personnel development department. In the following years, Katja was subsequently taking on additional leadership responsibility. In 2010 she was put in charge of the Philosophy Training department, in 2014 she became Director of Personnel Development and since 2018 she is Vice-President with responsibility for all HR functions of the Fielmann Group."With the unanimous appointment of Katja Groß as Executive Director the Supervisory Board emphasizes the significance and importance of the 21.000 employees of the Fielmann Group. We are very happy to transfer this responsibility to an experienced manager like Katja, who has been with Fielmann for nearly 20 years. In the last two years, as Vice President HR, she has really proven herself", says Prof. Mark Binz, Chairman of the Supervisory Board of Fielmann AG.

Appointment of Katja Gross marks the finalisation of a succession plan


Fielmann appoints Executive Director

While the coronavirus pandemic continues to significantly affect daily life as well as economies across Europe, its robust business model, the outstanding work of our employees and a strict cost regime have enabled Fielmann to record a swift economic recovery since May. This recovery led to a positive result in the first half of the year and even accelerated from July to September.Q3 2020The number of units sold in the third quarter of 2020 stood at 1.98 million pairs of glasses (previous year: 2.06 million). External sales grew by 4.0% to €481.6 million (previous year: €463.2 million) and consolidated sales rose by 5.2% to €421.0 million (previous year: €400.1 million). The pre-tax profit increased to €81.4 million (previous year: €78.5 million) and the net income to €57.8 million (previous year: €54.8 million).Q1-Q3 2020Unit sales in the first nine months of this financial year amounted to a total of 5.07 million pairs of glasses (previous year: 6.13 million). External sales declined by 11.4% to €1.19 billion (previous year: €1.35 billion) while consolidated sales were 10.9% lower with €1.03 billion (previous year: €1.16 billion). In the same period, Fielmann generated a pre-tax profit of €118.9 million (previous year: €206.1 million) and the net income was €82.8 million (previous year: €144.0 million). As at 30 September 2020, Fielmann operated 783 stores (previous year: 770), 216 of which also contained hearing aid studios (previous year: 206).Vision 2025Despite the economic challenges posed by the coronavirus pandemic, our business development has proven to be resilient. This strengthens our determination to continue the implementation of our Vision 2025 that entails a continued digitisation and internationalisation of our business model. In the first nine months of 2020, investments totalled €55.0 million (previous year: €74.4 million) and were financed from our cash flow.OutlookBased on the recovery during the third quarter, we expect external sales of more than €1.6 billion (previous year: €1.76 billion), net group sales of more than €1.4 billion (previous year: €1.52 billion) and earnings before taxes of more than €140 million (previous year: €253.81 million) for the year as a whole.As governments in most of our markets have taken strong measures in order to contain the second wave of the pandemic, these restrictions as well as additional measures that might likely follow might lead to a reassessment of our prognosis later this year. Nonetheless, Fielmann remains confident to emerge from the crisis in a position of strength.As a successful and financially potent family business, we are confident that we will enter at least one new market within the next 9 months.Hamburg, November 2020Fielmann Aktiengesellschaft The Management Board

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Fielmann Report 30.09.2020 

Accelerated recovery in third quarter (Q3 2020)

Interim report of Fielmann AG as at 30 September 2020

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Preliminary figures for the financial year 2021 document the successful recovery of the Fielmann Group despite the ongoing Covid-19 pandemic: Thanks to the loyalty of our customers and the dedication of our teams, we not only generated the highest sales in company history but also exceeded our pre-crisis sales by double-digits. Our profitability in 2021 was affected by significant investments and one-off effects in the second half of the year.Preliminary financials for FY2021 In 2021 the Fielmann Group generated external sales of € 1.94 billion (incl. VAT and inventory changes), a 19% increase over last year and 10% over the pre-crisis level of 2019. Consolidated sales rose to € 1.68 billion (+17%, previous year: € 1.43 billion). All major markets grew by double digits over last year and, with the exception of Austria, they all exceeded the pre-crisis levels of 2019 as well. As the Fielmann Group continues to internationalise its business, our international markets continued to outperform, reaching net sales of € 455 million, a 53% increase over the previous year (€ 297 million) and 41% over the pre-crisis level of 2019 (€ 323 million). Among our product categories, our hearing aid business developed particularly favourable, reaching net sales of € 93 million (previous year: € 80,7 million). Of the 913 stores (previous year: 870) that the Fielmann Group operated at year-end, 312 contained hearing studios (previous year: 280). Of the 22,028 people that contribute to our family business (previous year: 21,853), 1,128 work in our hearing aid business (previous year: 982). FY2021 earnings before tax are expected to stand at approximately € 210 million (+20%, previous year: € 175.5 million) and the net income for the year will reach about € 145 million (+20%, previous year: € 120.8 million). The earnings are impacted by significant investments: Most of our new store openings occurred in Q3 and Q4/2021 (30 of 45 in total). Additionally, the adjusted delimitation of research, development and operating expenses of our software development lead to one-time write-offs and other costs of about € 15 million in Q4/2021. Dividend to be increased by 25% Fielmann is maintaining its long-standing, shareholder-friendly dividend policy. Considering the company's positive development as well as the available liquidity, the Management Board and the Supervisory Board are going to recommend a dividend for the 2021 financial year of € 1.50 per share (+25%, previous year: € 1.20) to the Annual General Meeting on 14 July 2022. Based on our year-end share price, the dividend yield amounts to 2.5%. The total dividend pay-out equates to € 126.0 million (previous year: € 100.8 million). Outlook: Double-digit sales growth in 2022 As part of our planning, we have earmarked significant investments to further internationalise and digitise our Group in line with our Vision 2025. While the ongoing Covid-19 pandemic continues to affect our business in most markets, we expect a normalisation during the course of HY1/2022 leading to double-digit sales growth. The Fielmann Group is going to enter at least one new market this year. Hamburg, 24 February 2022 Fielmann Aktiengesellschaft&nbsp; The Management Board

External sales grow +10% over pre-crisis level (2019), dividend to be increased to € 1.50

Fielmann Group reaches external sales of more than € 1.9 billion in 2021

The Fielmann Group experienced a continued recovery in the first nine months of 2021. According to the Q3 interim statement published today, consolidated sales during the first nine months increased by nearly 22% over 2020 and by 8% over 2019.While footfall levels in many European cities and shopping centres have not yet fully returned to pre-crisis levels, the Fielmann Group grew significantly thanks to the loyalty of its 27 million customers as well as strong growth in its international markets: Our international sales (net) reached € 338 million in the first nine months of 2021, a 39% increase over the same period in 2019. The sales share of our international markets went up from 21% in 2019 to 27% in 2021.Q1-Q3/2021In the first three quarters of 2021, external sales rose by almost 22% to € 1.45 billion (previous year: € 1.19 billion) and consolidated sales by 21% to € 1.25 billion (previous year: € 1.03 billion). This development was driven by double-digit growth in all major markets.Pre-tax profit increased by 52% to € 181.3 million (previous year: € 118.9 million), while net income for the period rose to € 121.9 million (previous year: € 81.9 million). Earnings per share (EPS) increased by 47% to € 1.38 (previous year: € 0.94). Q3/2021The third quarter accounted for external sales of € 531.6 million (+10%, previous year: € 481.6 million) and consolidated sales of € 460.8 million (+10%, previous year: € 421.0 million). While Germany generated Q3 sales levels not only above 2020, but also well above 2019, Switzerland and Austria reached pre-crisis levels but did not grow over 2020. Our other international markets grew by about 20% on a comparable basis in the quarter while Spain contributed further growth.Quarterly pre-tax profit (EBT) reached € 85.4 million, a 5% increase over the same period last year. After taxes, our net income stood at € 57.4 million, which was 2% more than in the third quarter of 2020.Vision 2025 stimulates growth and creates jobs"Our positive development is the result of our continued investments into the digitisation and internationalisation of our Group as part of our Vision 2025," says Marc Fielmann, CEO of the Fielmann Group." „In 2021, the Fielmann Group entered another new market, added digital sales channels in various countries and will have opened 46 additional stores by year-end. Our large-scale investments into our omnichannel business model, our international expansion and growing product categories such as the hearing aids create a strong basis for organic growth in the coming years.“As at 30 September 2021, the Fielmann Group operates digital sales channels in nearly all its markets as well as 897 stores (end of 2020: 870), of which 308 also provide hearing aid services (end of 2020: 280). In the first nine months of 2021, Fielmann has created 392 additional jobs and currently employs a total of 22,245 staff, including 4,522 trainees.All investments were financed entirely from existing cash-flows and liquidity.Outlook: Targets for the full year confirmedBased on the visible recovery in the first three quarters of 2021 the Management Board of the Fielmann Group confirms its guidance: We continue to expect external sales of more than € 1.9 billion (previous year: € 1.6 billion), net sales of around € 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 full year.The profit forecast includes increased up-front costs resulting from an accelerated organic growth strategy, higher transport costs and one-off write-offs for software applications that were changed in scope. This prognosis is contingent on the assumption that no major, coronavirus-related restrictions will impact our business during the remainder of the year.For 2022, we anticipate double-digit growth rates for both external and net sales. We will continue to expand our omnichannel business model as well as our international distribution network to at least one new country.Hamburg, 11 November 2021Fielmann Aktiengesellschaft The Management Board

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Fielmann Report 30.09.2021

Fielmann Group records double digit sales growth in Q3

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.Q2 2021 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).HY1 2021 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.Outlook 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 2021Fielmann Aktiengesellschaft The Management Board

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Fielmann Report 30.06.2021

Double digit sales (+56%) and triple digit profit growth (+173%) in Q2, outlook confirmed

HY1 2021 interim report

Accelerated by declining coronavirus incidences, the success of vaccination programs and investments in the digitisation and internationalisation of the business, the Fielmann Group’s recovery gained pace in Q2 2021 across all major markets. Our sales and profits grew by double digits over last year.HY1 2021 (preliminary results)External sales, including VAT and changes in inventories, increased by +29% to € 919 million (previous year: € 712.7 million). Group sales rose +29% to € 790 million (previous year: € 610.8 million). We expect profit before taxes (EBT) to have risen by approximately +150% to around € 95 million (previous year: € 37.5 million).Vision 2025 Fielmann drives its Vision 2025, invests more than 100 million € p.a. in the extension of its channel network as well as the digitisation and the internationalisation of its enterprise. HY1 2021 saw the deployment of our patented e-commerce solution for prescription eyewear with the soft launch of our new app in Germany that will be made available to an increasing number of customers. And our omnichannel platform continues to be rolled out internationally: During the last weeks Fielmann entered the 16th market in Continental Europe by launching its e-commerce platform and opening several stores in the Czech Republic.Outlook Based on the swift recovery during the course of the first half of 2021, we expect for the full year external sales of about €1.9 billion (previous year: €1.6 billion), group sales of circa €1.7 billion (previous year: €1.4 billion) and a pre-tax profit of around €200 million (previous year: €175.5 million). This prognosis is contingent on the assumption that no major, coronavirus-related restrictions will impact our business during the course of the year.Hamburg, 08 July 2021Fielmann Aktiengesellschaft The Management Board

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HY1 2021 sales increased by +29%, profit surged by approximately +150%

Preliminary results of Fielmann AG as at 30 June 2021

<h3>Fielmann pushes its omnichannel model</h3>&nbsp;

<h3>Fielmann Fit, Fielmann Focus and Fielmann Vision – these three technologies combined will enable Fielmann customers to buy glasses also from the online shop and via the app in future. While the first two technologies are already available to existing Fielmann customers, the third technology, online refraction, currently has to be proven in extended user testing. The “online glasses” from Fielmann are on the home straight.</h3>&nbsp;It’s been common knowledge for some time now that Fielmann is serious about “online glasses”. Nevertheless, Marc Fielmann is currently still talking, as he did at the annual press conference, about the fact that the glasses from the online shop are a product of chance and will remain so for the time being. The last part of the statement in particular illustrates once again that there are certain factors in refraction (and this list is long) that make a personal visit to the specialist unavoidable. And yet Fielmann sees itself on the verge of meeting the desire of many customers to be able to buy their glasses from the comfort of their own homes. “The challenge is and remains quality,” says the CEO, while underlining the Hamburg-based company’s claim that it will only dispense glasses online if they meet the same quality standards as a visual aid purchased in a branch store.Initial hurdles were overcome some time ago with shares in FittingBox, a specialist for augmented reality, and the integration of 3D glasses fitting into the customers’ systems. The “Fielmann Fit” technology measures the customer’s face using over 18,900 measuring points and compares the anatomical data with the 3D model of the selected glasses. Initially, Fielmann had used this technology to sell non-corrective sunglasses in its online shop, but it is now the first step towards also being able to sell corrective glasses online. In 2014, the company also decided to use its own development for lens centring.

After four years of research and development, in 2019 the solution was found to gradually automate this process as well, enabling clients to perform centring via a mobile phone. This technology has been christened “Fielmann Focus”. At the end of last year, after a series of measurements with thousands of test persons and certification as a medical product, the technology was made available to a small group of customers in live operation for the first time. For a good month now, this has been available to all Fielmann customers whose lens values are stored in the system and who meet certain parameters. For example, the dioptre values are only allowed to lie between plus and minus 2.5, and a “new generation” smartphone must also be available. “During the measurement process, the customer must ensure that they hold their smartphone at eye level, their gaze is directed at the upper area of the screen, the room is correctly lit and there is no hair hanging over their face,” explains Marc Fielmann.In the self-test with a test account provided by Fielmann (single-vision glasses; left: cylinder -0.75 dpt, axis 90°; right: cylinder -0.75 dpt, axis 85 °, sphere -0.25 dpt), two questions (whether they are of age of majority and eye diseases) must first be answered. After selecting the lenses (from 17.50 euros per pair for “entry-level” plastic lenses to 297.50 euros per pair for high-tech plastic lenses from Zeiss – super anti-reflective, hardened, easy-care coating with lotus effect, very thin material, flat lens design, incl. UV protection), Fielmann Focus starts with: “Please remove your glasses for accurate centring and follow the instructions on the display.” What stands out: You do need to experiment a little before finding the right position (indicated by a green circle around the face). In addition, a steady hand is needed so as not to later interrupt the measurement, which lasts only three seconds. All that remains is to pay at the checkout and the glasses are on their way to the customer.

Online refraction goes into “extended user test”

The decisive key technology, however, which is also intended to enable new customers to order their glasses from Fielmann from the first to the last step, is now entering the ”extended user test”. The online refraction called “Fielmann Vision” made use of a well-known method of objective refraction determination: the photorefraction. Combined with artificial intelligence, it is intended to deliver data that is so reliable that the technology can be integrated into Fielmann’s digital channels, both the app and the online shop, in the foreseeable future.So far, the Hamburg-based company has invested more than 15 million euros in the development of its own measurement technologies, 15 patents are already protected, five have been published and four more are pending. “In the medium term, we would like to make the technology available to the entire optical industry,” says Marc Fielmann – and naturally also hopes to recoup the investment in the development of the measuring technologies through their sale. What impact will these inventions have on the industry? Will this permanently change the way we buy glasses in the future and is this really bad news for the traditional optician? Or is the (later) opening up of these technologies for the market an opportunity in the long term for physical retail opticians to pick up customers early on in their customer journey and to rely more and more on an omnichannel model themselves? If you trust Fielmann’s statements, the answer has to be “yes”: “The future lies in omnichannel. But I believe that the physical retail share of glasses sold will remain at 90 per cent in the future. If you add in contact lenses and sunglasses, which are much easier to sell online, then we expect them to account for 20 per cent of total sales in the long run.”

Start in the Czech Republic, France in sight

Of course, Fielmann doesn’t just limit its omnichannel model to Germany alone, but also implements it in the other European markets. The acquisition of the Spanish optician chain Optica &amp; Audiologia Universitaria on 31 December marked the 15th new market for Fielmann. The company has ambitious plans for growth here. From 80 branches at present, the network is set to be expanded to 200 branches. The aim is to sell more than 900,000 pairs of glasses and achieve a turnover of around 250 million euros annually. And the next expansion will follow in just a few weeks. In a way, the Czech Republic is a logical consequence of this, as the country is almost entirely surrounded by markets in which the Fielmann brand has already been successfully established. The opening of the first branch in Prague is planned for June, with plans to open a total of five branches in the course of the year. ”The market in the Czech Republic is very fragmented with only one international chain of stores represented here (editor’s note): GrandOptical, a GrandVision subsidiary, with 59 branches). The price for this is paid by the customers. Although the purchasing power of just under 10,000 euros is significantly below the level in Germany, there is hardly any difference in the price of glasses,” says Fielmann, who sees a good opportunity for successful brand development here – and wants to exploit synergies with neighbouring Poland. By 2025, the number of branches is to be increased to 20, with an annual turnover of around 15 million euros.Beyond the Czech Republic, Marc Fielmann announced a further market entry in the next 18 months – the location of which he left open but nevertheless hinted at. For example, the purchase of GrandVision by EssilorLuxottica and the resulting disposal of branches is currently taking place (see DOZ 05/21). It would be possible to rapidly expand the network of branches in Italy, one of the growth markets, and in the Netherlands, a country that Fielmann has only served rudimentarily up to now, it would also gain in importance in one fell swoop.And the branches to be sold in Belgium would mean entering the market in the last Benelux country not served by Fielmann.However, Marc Fielmann was far more open in underlining the company’s intentions to set its sights on entering the French market. “Fielmann has been preparing for expansion into the continent’s second largest market for some time. We already have hundreds of French-speaking staff who can support this expansion.” Sounds like they don’t want to wait too much longer&nbsp;…

Hearing acoustics at a high, sales at a low

And what else did the chain store have to report at its annual press conference, which was once again held virtually? The coronavirus crisis has also led to significant losses for the Hamburgers. Sales of glasses fell by a whopping 12.2 per cent (the slump in sunglasses represented a major “share” here), external sales by 7.6 per cent and Group sales by 6.0 per cent. Only sales in hearing acoustics rose considerably despite the pandemic, increasing by a whopping 13 percent. 14 new hearing care studios in Germany and Switzerland contributed to this trend, as did the first two hearing care studios in Austria. With the addition of 57 hearing care studios in Spain on 31 December 2020, this business segment will continue to develop in the coming years. The company expects to achieve a turnover of 150 million euros in this area&nbsp;(for comparison: in 2010, the turnover was only 13 million euros). Fielmann recorded the sharpest decline in profit before and after tax. Whereas the former declined by 30.9 per cent, it was down by as much as 31.9 per cent for the second aspect. “The decline in profits can be entirely attributed to the result of the first half of 2020, but we made a decision to accept this to ensure we could preserve jobs and continue to invest in the future,” Fielmann states. Apart from 30 million euros in compensation for reduced hours, no state aid was taken advantage of. Quite the opposite, the salaries of employees were topped up to 100 percent from the company’s own funds even during the first lockdown when sales were down by up to 80 percent. For this, the executive board and supervisory board waived part of their remuneration.The first quarter of 2021, however, showed a clear recovery. Sales would not only have been significantly higher than the first quarter of the previous year, but even higher than that of 2019. However, a crucial variable is missing from this calculation: This is because the acquisition of Optica &amp; Audiologia Universitaria and the market entry into Slovenia in 2019 with the purchase of Optika Clarus added 108 new branches, which contributed to the result in the first three months of 2021. The development of new markets is intended to secure Vision 2025’s long-term goal of achieving average growth of five percent per year in sales, turnover and profit. Moreover, from 2025 onwards, the goal is to sell every fourth pair of glasses in continental Europe.Last but not least, Fielmann proudly referred to the reopening (after almost two years of construction) of the new high-tech branch on Mönckebergstraße at Hamburg’s Rathausmarkt (see DOZ 08/20). On 1,300 square metres, they have created the “largest and most modern specialist optical shop in Germany”, in which “digital services and optical expertise are combined with the latest technology”. Ten million euros in turnover are to be generated at this location alone and, of course, all the new online measurement technologies will be put to the practical test here. Fielmann is getting serious – both online and in physical stores.

&nbsp;Source: Deutsche Optiker Zeitung © DOZ-Verlag, David Friederichs

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DOZ_0621_AK_Fielmann_Omnichannel.pdf

The future has already begun

Source: Deutsche Optiker Zeitung 

Thanks to its robust business model and the outstanding work of its employees, the Fielmann Group can report on a successful start into 2021. &nbsp;Q1 2021The coronavirus pandemic continues to impact private life and business in Europe. As a systemically relevant healthcare provider, Fielmann continues to operate its business in all its 15 European markets. Fielmann applies its science-based hygiene standards and thereby reliably protects the health of both customers and employees. Thanks to our digital technologies, we have been able to limit the flow of customers in-store, give walk-in customers precise waiting times, and considerably improve productivity at the same time. In the first quarter of 2021, the Fielmann Group generated sales revenues above the levels of the previous year and the pre-crisis period in 2019, despite the pandemic-related restrictions. The established markets are also above the previous year's level, excluding the acquired Spanish chain Óptica &amp; Audiología Universitaria. External sales incl. VAT and changes in inventories increased in the first three months of 2021 by 9% to €445 million (previous year: €407 million). Consolidated sales rose by 8% to around €382 million (previous year: €355 million). Pre-tax profits rose to €41.8 million (previous year: €17.6 million) and the net income increased to €28.5 million (previous year: €12.1 million). This result is influenced by higher costs for infection protection measures, among other things. Approximately €6 million have also been included as corona bonuses for all employees working in direct contact with customers.As at 31 March 2021, Fielmann operated 875 stores (previous year: 776), 288 of which also contained hearing aid studios (previous year: 209). Fielmann is Germany's largest employer in the optical industry with a total of 21,582 employees in the Group as at 31 March (previous year: 20,234), of whom 4,277 are apprentices (previous year: 4,065). As a family business, Fielmann has supported its employees throughout the crisis and continues to supplement the net earnings of employees in short-time work to 100%. &nbsp;Financial year 2020At its meeting on 15 April 2021, the Supervisory Board of Fielmann AG approved the consolidated annual accounts for the past financial year. External sales including VAT fell as a result of the pandemic to €1.63 billion (previous year: €1.76 billion) and consolidated sales stood at €1.43 billion (previous year: €1.52 billion). Pre-tax profits amounted to €175.5 million (previous year: €253.8 million) and the net profit for the year reached €120.8 million (previous year: €177.3 million).Fielmann is maintaining its long-standing shareholder-friendly dividend policy. Considering the company's positive development, the management board and the supervisory board will recommend a dividend payout of €1.20 per share to the Annual General Meeting on 8 July 2021. This corresponds to a total dividend payout of €100.8 million and payout ratio of 87%. &nbsp;OutlookOur Vision 2025 is the basis of our forecast for the financial year 2021. The coronavirus pandemic continues to significantly impact private life and business in Europe, with governments in many countries still taking far-reaching protective measures. These restrictions as well as potentially even more severe restrictions will have a negative effect on the number of units sold, sales revenue, and profits, the extent of which is hard to anticipate. For this reason, any forecast for the coming months and the year as a whole is subject to great uncertainty. The optical market in Europe is currently in a process of consolidation. As one of the world's leading optical retailers, Fielmann is benefitting from this trend and will invest almost €100 million in its stores, digitisation and international expansion in the current financial year. The expansion into new markets offers additional potential. In 2021, Fielmann will enter at least one new European market. Marc Fielmann, CEO of Fielmann AG, says: "The Fielmann Group's business development confirms our Vision 2025, as part of which we comprehensively digitise and internationalise our Group. With our omnichannel business model we already serve more than 27 million customers in 15 countries. While customers increasingly bought their contact lenses online during the coronavirus crisis, many people chose to delay their purchase of glasses. We now benefit from these purchases." Further information and details will follow at the Annual Press Conference on 29 April 2021. &nbsp;Hamburg, April 2021Fielmann Aktiengesellschaft The Management Board

fielmann_report_31032021.pdf

Fielmann Report 31.03.2021

Fielmann Group's Q1 2021 sales exceed Q1 2020 as well as pre-crisis level

Interim report of Fielmann AG as at 31 March 2021

For the past financial year, the Fielmann Group confirms external record sales of € 1.94 billion in line with its Vision 2025 growth path. Q1/2022 was affected by the protracted Covid-19 pandemic as well as the outbreak of the war in Ukraine. In this difficult environment, the Group’s business model has proven to be resilient: Thanks to our loyal customers and to our people, we generated +8.9% external sales growth over Q1/2021 and +10.7% over the pre-crisis level. Financial year 2021 On 21 April 2022, our Supervisory Board approved the consolidated annual accounts for the past financial year: In 2021, the Fielmann Group generated external sales of € 1.94 billion (incl. VAT and inventory changes), a +18.9% increase over last year and about 10% over the pre-crisis level of 2019. Consolidated sales rose to € 1.68 billion (+17.4%). As such, despite the ongoing Covid-19 pandemic, our sales are in line with our Vision 2025 growth path.&nbsp;As part of our Vision 2025, we are making significant progress in the digital transformation of our family business: In 2021, we deployed our omnichannel platform in Poland and the Czech Republic and launched our proprietary e-commerce solution for prescription eyewear in Germany. Across Europe, we delivered more than 1 million parcels to our customers (&gt;30% to 2020) and our omnichannel services registered 22 million users (&gt;15% to 2020).&nbsp;The internationalisation of our Group gained pace: In 2021, the Fielmann Group strengthened its position in all major markets. We significantly extended our market shares in the Czech Republic, Italy, Poland and Spain. Our international markets continued to outperform, reaching net sales of € 455 million, a 53.2% increase over the previous year (€ 297 million). Our international markets' sales share increased from 21% in 2019 to 27% in 2021.&nbsp;As reported in February this year, FY2021 earnings were depressed by our growth strategy as well as one-off effects. Nonetheless, FY2021 EBT grew by +19.5% to € 210 million and the net income for the year reached € 145 million (+19.7%). The Supervisory Board and the Executive Board are going to recommend a dividend of € 1.50 per share (+25% to 2021) to the Annual General Meeting in July. Q1/2022 The first quarter of 2022 was marked by a protracted Covid-19 pandemic with record infection levels across Central Europe as well as the outbreak of the war in Ukraine. The Fielmann Group has been serving Ukrainian customers since 1999. With 269 employees we generated sales of about € 4 million in 2021. As a family business, the Fielmann Group extended employment guarantees to all Ukrainian staff and is providing additional assistance to dozens who have fled abroad. Our people who remain in Ukraine continue to receive their full salaries despite sales declining by 90% in March 2022. We will continue our assistance for our Ukrainian customers and people, currently amounting to more than € 100,000 per month. Despite the ongoing pandemic and the outbreak of the war, the Fielmann Group was able to increase its Q1/2022 sales compared to 2021 and also compared to the pre-crisis level: External sales incl. VAT and changes in inventories increased by 8.9% to € 484 million. Consolidated sales rose by 8.5% to around € 414 million. Pre-tax profits rose disproportionately by 18.8% to € 49.6 million and the net income increased by 18.7%, reaching € 34.2 million. Marc Fielmann, CEO of Fielmann Group, commented: “In a challenging environment, our Q1/2022 figures prove the resilience of our business model. In line with our Vision 2025 we have made significant progress in digitalising and internationalising our family business. In times of uncertainty, people prefer to buy from companies that offer excellent service and guaranteed quality at the best prices – in the eyewear industry this is the Fielmann Group.” As at 31 March 2022, the Fielmann Group has rolled out its omnichannel platform to six countries and operates 922 stores (previous year: 875), 318 of which also contain hearing aid studios (previous year: 288). Outlook The Fielmann Group will benefit disproportionately from a normali sation of the environment. We are going to invest about € 100 million in 2022 and expect strong growth for the full year. Our guidance of up to 10% sales growth and notable margin improvement is contingent on the assumption that neither restrictions resulting from the Covid-19 pandemic nor protracted consequences of the war are significantly affecting our business outside Ukraine. To help investors interpret the potential impact of these contingencies, we provide different scenarios with associated sales and profit expectations in our Annual Report. Further information and details will follow at the Annual Press Conference on 28 April 2022. Hamburg, 28 April 2022 Fielmann Aktiengesellschaft The Management Board

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Fielmann_report_1_quarter_2022.pdf

Fielmann Report 31.03.2022

2021 record sales confirmed, Q1/2022 sales grow +9% compared to 2021, +11% to 2019

Fielmann Group delivers strong growth in challenging environment

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