Katrin Carstens

Ulrich Brockmann

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 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

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

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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

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The economic environment in 2022 continues to be influenced by the ongoing coronavirus pandemic as well as the effects of the war in Ukraine. Inflation rates remain persistently high, consumer sentiment is declining further. In Germany, corresponding measures are at their lowest level since the onset of recording in the early 1990s.While many competitors have increased prices, customers of the Fielmann Group can rely on guaranteed low prices. We also remain committed to our Vision 2025 and continue to invest in the digitalisation and internationalisation of our family business: Our growth in e-commerce and in our international markets is a result of this.&nbsp;Q1-Q3/2022According to preliminary numbers, the Fielmann Group grew its external sales incl. VAT and changes in inventories by +5,4% to about €1.53 billion (previous year: €1.45 billion) in the first nine months of 2022. Consolidated sales rose to circa €1.32 billion (previous year: €1.25 billion). Earnings before taxes will amount to approximately €141 million (previous year: €181.3 million).Compared to the previous year, our e-commerce business delivered particularly strong growth of +39%: In total, we shipped more than one million parcels to our customers. With the further rollout of our omnichannel platform, we expect continued growth in the coming months. As the sale of prescription eyewear requires measurements and services in retail stores, e-commerce continues to be driven mainly by lower-margin sunglasses and contact lenses. The resulting change in the product mix is adding to our sales growth, however with only a subpar contribution to earnings.The Fielmann Group grew in all major markets compared with the previous year, recording double-digit growth in Italy, Slovenia, Spain and in several Eastern European countries. As the price leader, we are expanding our market share in a challenging environment.&nbsp;Q3/2022In Q3 the Fielmann Group was able to reach sales levels above last year despite considerable macroeconomic headwinds, especially in Germany: According to current estimations, external sales will increase to €536 million (previous year: €531.6 million) in the third quarter. Consolidated sales will rise to approximately €463 million (previous year: €460.8 million). Earnings before taxes amount to about €52 million for the third quarter (previous year: €85.4 million).A decisive factor that impacted our earnings is the adjustment of salaries for our store staff. Our personnel costs rose by €43 million after nine months to a total of €564.6 million (previous year: €521.7 million). By increasing the salaries, we reflect our appreciation for the committed and dedicated service our employees in Germany and abroad are delivering to our customers every day. By offering attractive wages, we succeed in a competitive labour market characterised by a shortage of skilled staff.In the first nine months, we created almost 400 additional jobs in our stores, employing a total of 22,640 staff as at the reporting date (previous year: 22,245). This increase in staff is mainly driven by our international expansion in Spain, Italy, the Czech Republic and Poland.In addition to the change in our product mix towards more sunglasses and contact lenses, our guaranteed low prices and additional costs incurred as part of our "50 years of Fielmann" anniversary impacted our earnings.Marc Fielmann, CEO of the Fielmann Group: "While many competitors have already significantly increased their prices during the crisis, we are thinking long-term and – as we did during previous structural reforms and crises – invest anti-cyclically in low prices to grow our market position. This pays off in the long term, because in times of uncertainty, customers buy where they can get guaranteed quality at the best prices. In eyewear and hearing aids, this is the Fielmann Group. Our new customer acquisition figures encourage us to resolutely continue this path.”&nbsp;OutlookThe effects of the war in Ukraine, persistently high inflation levels and continually rising interest rates are increasingly denting consumer confidence across Europe. Additionally, the lingering coronavirus pandemic continues to impact our business. Against this background, we expect external sales of approximately €2 billion (previous year: €1.94 billion), consolidated sales of around €1.75 billion (previous year: €1.68 billion) and an EBT of more than €160 million (previous year: €209.7 million) for 2022.We remain optimistic: As the price leader, this crisis is an opportunity for us to gain market share and to retain our many new customers in the long term through excellent service.The third quarter report will be published on 10 November 2022. Hamburg, 02 November 2022Fielmann Aktiengesellschaft The Management Board

Digital investments pay off as e-commerce grows +39% YOY in the first nine months

Fielmann Group invests in price leadership, strong growth in Southern & Eastern Europe

Hamburg. When Günther Fielmann opened his first optician’s on 21 September 1972, it was a revolution in the industry. At a time when opticians still wore white coats and kept their glasses frames in drawers under lock and key, he presented his glasses openly on the wall and let customers decide for themselves what they wanted to try on. His shop was not only more modern, there was also more choice and lower prices than the competition. The clever businessman offered glasses cleaning and other services free of charge, as well as warranties on his glasses. Not everyone found that good at the time. Fielmann was soon dubbed the “Robin Hood of glasses wearers”. That was the start of an extraordinary company historyAlmost 50 years later to the day, Marc Fielmann stands in the new branch, opened just a few days ago, in the Mercado shopping centre in Hamburg-Ottensen. More than 2,500 glasses models are available in the salesroom, which features a lot of light and glass. At the start of the anniversary week with its many promotions and offers, the son of the company founder and now the head of Fielmann has volunteered to work in the shop. “We are supporting this week with lots of colleagues from the headquarters in the branches,” says Fielmann, who has pinned a name badge to his lapel just like everyone else. The first customers were already there before the shop opened at 10 am, also because there are many special offers and competitions. “The new shop concept is much more spacious and transparent,” says the CEO. The modernisation of a total of around 1,000 branches is one of the major topics of recent years. “Especially on our anniversary, it shows that Fielmann has proven to be adaptable and responds to changing customer needs.”When he founded his company, Günther Fielmann was 33 years old, the same age as Marc Fielmann today. The small shop in Cuxhaven has become the largest optician’s group in Central Europe with 27 million customers in 16 countries, 22,000 employees and around two billion euros of turnover in the last year. In Germany, one in every two pairs of glasses comes from the Hamburg-based company, which also sells contact lenses and hearing aids. Fielmann accounts for around 20 per cent of the industry turnover. The optician chain has a branch in almost every city, more than one in many cases – there are currently 612 in the chain’s country of origin, 21 of which are in Hamburg. When he became CEO three years ago, Marc Fielmann set the goals of the listed company with Vision 2025 and has since been driving forward the crucial parameters of international expansion and digitalisation.Topics that were unimaginable in 1972. The personal computer had just been invented, the Internet did not yet exist as the World Wide Web. The word of the year is “rebellious”, as Marc Fielmann discovered when preparing for the anniversary. This is quite an apt description of his father – the optician who wanted to do everything differently to others when opening his first shop. When the company was founded, optometry was organised like a cartel. Günther Fielmann linked the prices of his glasses to their manufacturing costs, was content to sell at a lower margin and responded to customer needs and preferences. This was well received.Within the first two years, the businessman from Schleswig-Holstein opened six further stores. In 1981, with 49 branches at the time, Fielmann achieved his ultimate breakthrough with “spectacle chic at zero cost”, allowing people covered by statutory health insurance to choose from 90 pairs of glasses with hundreds of variations instead of the previous eight (more or less ugly) frames – on prescription. “Those who were unable to afford expensive glasses wore the evidence of their low income on their nose, so to speak, as health service glasses,” said Günther Fielmann at the time, calling it “democratisation of fashion eyewear”. Satisfaction guarantee, money- back guarantee – the self-made man had many ideas. Customer orientation remains part of the company’s DNA to this day. The next coup, the first television commercial, followed in 1985: “And my dad hasn’t spent a penny...”, said little Julia, instantly making Fielmann famous throughout Germany. The industry was seething. It became clear that Fielmann – equipped with perfectionism, an eye for detail, discipline and a pronounced awareness of power – had transformed the glasses business. “The economic success is based on the fact that Günther Fielmann was the first to come up with the idea of making prescription glasses socially acceptable and working with several branches,” says the president of the Central Association of Opticians and Optometrists, Thomas Truckenbrod. The glasses king, who crucially defines the market as the industry leader, has always received criticism and still does today. Fielmann continually expanded his network of branches and took over smaller opticians. Following the reunification of Germany, the new German states became an important new market for him, with Fielmann setting up his own glasses production in Rathenow, Brandenburg. At the beginning of the 2000s, he bought the castle in Plön and converted it into a training institution. When the health insurance companies cut back on co-payments for glasses and then completely stopped them as part of the healthcare reform in 2004, Günther Fielmann invented what is known as zero-cost insurance. This allows customers to get a pair of glasses from the corresponding collection free of charge and they are also insured. The downside: with many, often similar models, Fielmann may be seen as reliable, but also conservative.The family-run company went public in the mid-1990s to accelerate growth. The stock, which began with a par value of 5 D-mark, became the most successful new issue of 1994. The stock stood there solidly for a long time. Investors were able to rely on steadily growing business figures and dividends. That came to an end with the beginning of the coronavirus pandemic Following highs of over 70 euros and many ups and downs, the share lost around half of its value and is currently listed at around 35 euros. The joint-stock company, which is still 70 per cent under family ownership, is also suffering from significant cost pressure due, among other things, to the effects of the Ukraine war and inflation. It is now company heir Marc Fielmann’s job to get the company through the difficult times for the global economy. The graduate in business administration has been working in the glasses group since 2012; he worked alongside his father for eight years until his father stepped down from the board of management at the end of 2019 at the age of 80 and handed the management of the company over to his son. “I have outgrown my dreams,” Günther Fielmann once said, describing his life’s work. The 83-year-old has not appeared in public in recent years and no longer gives interviews. The responsibility for his three organic farms in Schleswig-Holstein has also been passed on to his son, a father himself now. He is following the anniversary celebrations from his farm in Lütjensee.Marc Fielmann has now settled in his role as the successor to industry legend Günther Fielmann. With a blend of informality, self-confidence and commitment, Fielmann Junior – frequently seen without a tie – has gradually been putting his stamp on the company. Whether and how he can further develop the “rebelliousness” and creative drive of his father in the company remains to be seen.The market in Germany is almost saturated, competition is particularly fierce in the cities. Alongside increased overseas expansion, it is above all the digital business that is being driven forward under the second generation’s management with millions of euros of investments. The optical group has just invested 65 million euros in a further location with glasses production and a highly automated packaging warehouse in the Czech city of Chomutov. The company’s public appearance has also changed. In commercials, the rather stoic company plays with humour and emotions under the slogan “Show strength”. And young Marc Fielmann is touching on yet another sacrilege. He announced in the Abendblatt that the company headquarters in Barmbek is being renovated and needs to be vacated. Whether Fielmann will ultimately remain in Hamburg depends on the negotiations with property providers. A decision is set to be made by the end of 2022.&nbsp;For now, it’s time to celebrate. “Other companies have a big party. We are celebrating with lots of promotions and with our customers,” says CEO Marc Fielmann. There is an anniversary collection reinterpreting the shapes and colours of the 1970s.An homage to the time when the company was founded with names from 50 years ago, such as Oliver, Frank and Claudia. The anniversary week is getting off to a good start. Fielmann anticipates that 40,000 pairs of glasses will be sold throughout Germany on just the first day. “A new milestone, namely the most glasses sold in a day,” says Fielmann.&nbsp;Source: Hamburger Abendblatt © Hamburger Abendblatt. Text: Hanna-Lotte Mikuteit. Photos: Rauhe, M. Hernandez, Fielmann AG

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50 years of Fielmann: a revolution for people who wear glasses

Source: Hamburger Abendblatt

When Günther Fielmann opened his first store in Cuxhaven on 21 September 1972, he was driven by one simple idea: the customer should be put first, not maximum profit. In a time when traditional opticians wore white coats, glasses were stored in drawers and customers had their options pre-selected for them, this truly was a revolutionary idea. Prices were steep across the board. Those who did not have enough money for these glasses were limited to just eight pairs of unsightly standard-issue glasses under statutory health insurance schemes – which subjected wearers to social stigma.&nbsp;&nbsp; The 1970s – the early days&nbsp; Upon opening his first store in 1972, Günther Fielmann transformed the glasses market by introducing low prices and extensive services. During this time, the company’s defining philosophy – which still guides the business to this day – was formulated under the guiding principle of “You are the customer”. The guarantees introduced in the 70s still apply today: three years’ quality and manufacturing guarantee, the Best Price Guarantee as proof of value for money, and our satisfaction guarantee – and every complaint is accepted.&nbsp;&nbsp;The 1980s – historical achievements&nbsp; Fielmann’s real breakthrough finally came in 1981 with the “fashionable eyewear at no cost” initiative. Overnight, Fielmann began to offer those with statutory insurance much more than the eight pairs of standard-issue glasses. At no extra cost, customers could choose from a range of 90 high-quality metal and plastic-framed glasses in 640 different varieties. As Günther Fielmann said: “Before Fielmann, everyone who couldn’t afford a pair of expensive premium spectacles had to wear proof of their low income on the end of their nose. Fielmann abolished this injustice!” This democratisation of fashionable eyewear is the historical achievement of our company’s founder, Günther Fielmann, earning him the nickname “the Robin Hood of those with poor vision” (FAZ) and laying the foundations for his success as the “Glasses King” (Die ZEIT).&nbsp;&nbsp;&nbsp;The 1990s – expansion&nbsp; When the Berlin Wall fell in 1989, Fielmann began to expand into Germany’s new federal states. In so doing, the company went from being “one of Germany’s large optician’s chains” to the largest optician’s chain in the now-reunified Federal Republic of Germany – and the industry’s largest employer. In 1994, the company was floated on the stock market, enabling it to expand abroad. By the end of the decade, Fielmann had successfully launched in Austria, Poland and Switzerland.&nbsp;&nbsp;The 2000s – manufacturer and training provider&nbsp; At the start of the 2000s, Fielmann established a production and logistics centre in Rathenow an der Havel in Brandenburg, the birthplace of German eyewear. By eliminating the middle man, Fielmann is able to offer significantly lower prices than its competitors. At one of the industry’s largest high-tech production sites anywhere in the world, today almost 1,000 employees manufacture millions of lenses and glasses – of course, with the “Made in Germany” label.&nbsp;&nbsp;Since 2004, statutory insurance providers have terminated almost all services relating to glasses. However, in partnership with the insurance company HanseMerkur-Versicherung, Fielmann offers the Zero-cost insurance (Nulltarifversicherung). For just € 10 a year, customers receive a complete pair of glasses, with prescription lenses, that are protected against breakage, damage, and changes in prescription. More than nine million insurance customers have signed up already.&nbsp;&nbsp;2006 saw the inauguration of the Fielmann Academy at Plön Castle, the former summer residence of the Danish king, which is now the industry’s largest training and research centre. In Germany, Fielmann trains more than 40% of all optical apprentices while operating only 5% of the industry’s optical stores. The family business is the largest training provider in the industry.&nbsp;&nbsp;The 2010s – succession&nbsp; In 2012, Marc Fielmann’s appointment marked the entry of the next generation into the family business. Working alongside his father, he accelerated the company’s international expansion and initiated the digital transformation of the company’s business model. After eight years of working side by side, Günther Fielmann handed the reins to his son at the end of 2019. With the acquisition of Optika Clarus in Slovenia and Optica Universitaria in Spain, Fielmann grew to become the Fielmann Group.&nbsp;&nbsp;The 2020s – present day&nbsp; In 50 years, we have grown from one store in Northern Germany to a multi-brand, omnichannel Group serving 27 million customers through more than 900 retail stores and various online channels across 16 European countries. Just as it was back then, Fielmann’s secret to success remains the consistent customer centricity that our 22,000 employees embrace every single day. With record levels of customer satisfaction and customer repurchase figures of more than 90%, the market leader is continuing to strengthen its position.&nbsp;&nbsp;Anniversary week&nbsp; Now, it is time to say thank you. Customers who visit a Fielmann store or fielmann.de/50-jahre next week (19–24 September) will be in for a pleasant surprise: Fielmann will be giving away every 50th set of frames the entire week. Anyone who purchases a set of frames in-store will also receive 50% off a second pair, with the cheapest of the pairs being discounted. We will also be celebrating with a large competition – with 300,000 top-quality prizes up for grabs.&nbsp;&nbsp;The limited-edition Anniversary Collection&nbsp; The Fielmann name is synonymous with fashionable eyewear at fair prices. The company not only offers big-name brands and international couturiers, but also employs top in-house designers who set the benchmark for eyewear fashion. To mark the company’s 50th anniversary, Fielmann has designed the exclusive Anniversary Collection, which reinterprets the designs of the 1970s with modern styles in gradient and statement colours. These 18 pairs of glasses are a homage to the days when the company was founded. This is also reflected in the product names – Oliver, Frank, Claudia and Peter – which were the most popular names in Germany at the time. Inspiration for the designs has come from the company’s archive materials. And, just like in the 70s, the materials come entirely from Italy and the frames are handmade, with the anniversary logo now an added feature.&nbsp;&nbsp;Hamburg, 15 September 2022&nbsp;Fielmann Aktiengesellschaft&nbsp; The Management Board&nbsp;

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50 years of Fielmann Logo

How a family business has shaped the optical industry for half a century 

50 years of Fielmann: 21 September 2022 marks a significant milestone 

The Fielmann Group, the most customer-centric provider of eyewear and hearing aids, announced today that it is investing more than € 65 million in a new high-tech facility consisting of an eyewear production as well as a highly automated fulfilment centre in Chomutov, Czech Republic. The construction is ongoing, operations are scheduled to start in 2024. In the medium-term, the Fielmann Group is creating 500 new jobs in Chomutov. Marc Fielmann, CEO of Fielmann Group: “Following our Vision 2025, our new facility in Chomutov is an important addition to the unique made-to-order manufacturing and fulfilment network that drives our omnichannel platform. This investment not only provides the basis for the Fielmann Group’s rapid expansion across Europe but is also part of a large-scale program that is re-defining the product availability, delivery times and prices our 27 million customers can expect. By growing our manufacturing footprint in Europe, we also reduce costs as well as CO2 emissions, bolster our strategic independence and improve our profitability.” In the medium-term, the Fielmann Group invests more than € 100 million in its manufacturing and logistics capabilities to sustain its strong growth across Europe. In Chomutov, Czech Republic, the German family business invests € 65m in a state-of-the-art manufacturing and logistics facility stretching across 37.000 square meters. The made-to-order manufacturing has an initial capacity of 2.5 million pairs of glasses per year and can be extended to nearly 5 million pairs of glasses in the long-term. The fully automated shuttle fulfilment centre is planned to handle a capacity of up to 8 million items. Georg Rau, VP Manufacturing &amp; Logistics of Fielmann Group: “Chomutov is part of a long-term investment program that upgrades and extends the manufacturing and logistics capabilities of the Fielmann Group. We are going to significantly improve our lead times, the dependability of our product delivery and the cost structure for our sales channels. Next to Chomutov, we are currently setting up new fulfilment centres across Europe to sustain the double-digit growth of our e-commerce business. Furthermore, we are evaluating new manufacturing locations in Western and Southern Europe where the number of our customers is growing rapidly. And we are dedicating an additional € 35 million investment to our largest manufacturing and fulfilment site in Rathenow to better serve our customers.” Chomutov is located in the north-western Ústecký kraj region of the Czech Republic and has about 50,000 inhabitants. The manufacturing and logistics facility of the Fielmann Group is located in the immediate vicinity of the D7 highway, which connects Chomutov with Prague in the south and with Chemnitz, Leipzig and Dresden in the north. “We are very pleased that one of the leading optical companies in the world has chosen to make our city a significant centre of the optics industry”, says Marek Hrabáč, mayor of Chomutov. “Fielmann is one of the most renowned brands in Europe and has been an institution in the optical industry for 50 years. We are proud to add yet another industry leader to the list of companies that have chosen Chomutov for its attractiveness in terms of the highly skilled local workforce, the reliable infrastructure and collaborative governance you can find here. We are absolutely convinced that Fielmann and Chomutov are a wonderful match for the future.” About the Fielmann Group: The Fielmann Group is a stock-listed family business based in Hamburg, Germany. As the most customercentric provider of eyewear, contact lenses and hearing aids, we serve our 27 million active customers through an omnichannel platform comprised of digital sales channels as well as more than 900 retail stores across 16 countries. Further information: Details on the economic development of the Fielmann Group will be provided on Thursday, 25th of August 2022 in our half-year report. Hamburg, 23rd of August 2022 Fielmann Aktiengesellschaft The Management Board

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New high-tech facility part of € 100m investment program improving lead times, costs & CO2 footprint

Fielmann Group expands European manufacturing network with € 65m investment in Chomutov

The first six months of 2022 were strongly influenced by a protracted Covid-19 pandemic as well as the impact of the war in Ukraine. In this challenging environment, the Fielmann Group projects strong sales growth in line with its Vision 2025. Market environment HY1/2022 During the course of the first half of the year, the ongoing Covid-19 pandemic led to continued restrictions, record-high sick leave rates among employees and low footfall in most of our markets. This situation persisted well into Q2/2022, especially in Germany and Austria. While the pandemic continued to have an adverse impact on our sales levels, the Fielmann Group acknowledges the exemplary work of its people in the stores. To account for the lack of skilled personnel in optical and acoustic retail, we have increased and adjusted the salaries in several markets. Across all functions, this led to additional HY1/2022 personnel expenses of around € 22 million. Since February 2022, the consequences of the war in Ukraine impact our operations across Europe. The Fielmann Group acts as a responsible family business: We offered job guarantees to all our 269 Ukrainian employees. Dozens who fled abroad have received training and employment offers. For all refugees arriving from Ukraine, Fielmann and ZEISS realised a 3-month solidarity initiative: More than 80.000 Ukrainians received an individually assembled pair of glasses free of charge in Fielmann stores. ZEISS covered the lenses and Fielmann provided the frames, personnel and services. Although our business in Ukraine suffered sales declines of up to 90 % on a monthly basis, we continue to support our people who remained in the country by paying 100 % of salaries. As at 30 June 2022, 35 out of our 36 Ukrainian stores have re-opened, many of them returning to pre-crisis business levels. Business development HY1/2022 In 2019 we announced our Vision 2025 that builds on our customer centric company philosophy and targets +5 % average sales growth per year by means of digitising and internationalising our family business. We are proud to have delivered on this goal since 2019 – despite the effects the Covid-19 pandemic and the war in Ukraine had on our business. According to the latest forecast, HY1/2022 external sales will reach € 989 million during the first six months of this year (+8 % over the same period last year) while consolidated sales increased to about € 851 million (previous year: € 789.6 million). While this sales growth is in line with our Vision 2025 path, our cost structure in 2022 had been planned for more dynamic growth. Consequently, our profitability was disproportionately affected: For HY1/2022 we expect earnings to have reached about € 89 million (previous year: € 96 million), corresponding to a 10.4 % EBT margin. With respect to our main product categories, prescription eyewear and hearing aids delivered strong single digit growth while sunglasses and contact lenses benefited from the development of our omnichannel platform, growing well above 20 % compared to last year. As contact lenses and sunglasses however contribute lower margins, the changed product mix resulted in a gross profit impact of €13 million. Marc Fielmann, CEO of the Fielmann Group: “Thanks to our outstanding customer service and our superior omnichannel platform, we are delivering consistent growth in an unstable environment. We are particularly pleased with the progress of our e-commerce business: In the first six months of 2022 the Fielmann Group increased the number of parcels shipped across Europe to more than 640.000 which corresponds to +31 % growth over last year.” Outlook The Fielmann Group Management Board views the current market environment with concern. The protracted Covid-19 pandemic, the impact of the ongoing war in Ukraine, persistently high inflation levels and rising interest rates all negatively affect consumer confidence while driving cost inflation. In this environment, we expect a development for the full year that corresponds to the pessimistic scenario communicated in our Annual Report. We update our FY/2022 guidance to external sales of approximately € 2 billion (previous year: € 1.94 billion), consolidated sales of approximately € 1.8 billion (previous year: € 1.68 billion) and an EBT of € 190 million (previous year: € 209.7 million). The Fielmann Group Management Board is taking measures to maintain its strong sales trajectory while boosting the Group’s EBT margin to at least 16 %, as communicated in our Vision 2025. At our Annual General Meeting on 14 July 2022 we will report on our strategic initiatives that will drive profitability in short- and medium-term. In the long-term we remain optimistic: In times of uncertainty, people buy from companies that offer excellent service and guaranteed quality at the best prices – in the eyewear industry this is the Fielmann Group. Hamburg, 04 July 2022 Fielmann Aktiengesellschaft The Management Board

E-commerce growing by +31 % over last year

Fielmann Group expects external sales to grow +8 percent in HY1 2022

<h3>Fielmann presents its 2021 annual report</h3>

<h3>“The future lies in omnichannel.” Marc Fielmann, chairman of the management board of Fielmann AG, is setting the course with this statement. The Hamburg-based company already embarked on this path several years ago under the heading “Vision 2025”. While online eye tests are yet to be implemented in digital distribution channels, international growth is progressing seemingly unabated. Plans for expansion towards France now appear to be more concrete.</h3>&nbsp;It was a rather throw-away comment by Marc Fielmann during the annual press conference. “We are aiming for 200 million euros of turnover in Western Europe in the medium term, not least through an expansion towards France.” Marc Fielmann’s desire to gain a foothold in the neighbouring country comes as no surprise. Even his father conducted initial meetings in 2003, at that time with GrandVison, but things went quiet for a long time with regard to the western neighbour. But the matter now seems to have gained momentum again: with Italy (2015) and Spain (2020), two important markets in Western Europe are already part of the Fielmann Group’s area of activity, so it was and is ultimately just a matter of time before attention turns to France, as the second largest economic power in the European Union (after Germany). Nevertheless, whether the western neighbour will join the Fielmann map this year remains uncertain. “We will likely develop a further market this year,” said the chairman of the management board, without elaborating further. However, France must be tackled by 2025 at the latest if the Hamburg-based company wants to achieve its own ambitious target – that much seems certain.This desire is closely linked to what is known as “Vision 2025” – a claim that has been hovering over the largest German chain for some time now. A claim that is filled with life anew every year and which the company never tires of presenting at any opportunity to generate good publicity. And so Vision 2025 once again took on a key role at this year’s annual press conference. The Hamburg-based company again opted for the online format learned in the last two years instead of personally inviting the (specialist) media. This is quite fitting, considering that Fielmann has been specifically firing up the digital sector in recent years and will continue to do so in the years to come. In contrast to Mister Spex, brillen.de and Brille24, which have grown from pure online retailers into omnichannel providers (see also DOZ 05/22), Fielmann is taking the opposite route. The foundation with a diverse brick-and-mortar network was already laid many years ago and has since been continuously expanded, modernised and perfected. A basis that is now being used to set up the omnichannel model. Although ‘set up’ is not quite correct, as it has actually already been set up, but is constantly being expanded and perfected.

Online refraction “more complex than anticipated”

Fielmann counted 913 branches throughout Europe on the reporting date 31 December 2021, with 27 million customers in 16 countries. And all of these countries (and those that will be added in the future) should be connected to the Fielmann omnichannel model by the end of 2023. Fielmann began the big rollout in Germany in April last year (see also DOZ 06/21). This also saw the launch of the iOS app designed by Fielmann Ventures, which combines two key technologies: 3D fitting (“Fielmann Fit”) and the company’s own lens centring technology (“Fielmann Focus”). “Our app allows more and more customers to try their glasses on virtually, customise them individually and have them delivered to their home free of charge. We are continuously developing the app to improve the refraction and optometric centring data necessary to produce prescription glasses,” says Marc Fielmann. There were actually also plans to integrate an online eye test into the app, but the subject of measurement technology is complex and, “to be completely honest, it is also more complex than we originally anticipated.”However, the launch of online refraction under the name “Fielmann Vision” does not seem too far off: the technology is currently undergoing extended user testing and the goal of providing all customers, even new ones, with glasses online in the same Fielmann quality as in brick-and-mortar branches is getting closer. So far, the Hamburg-based company has invested more than 15 million euros in research and development, with 25 patent applications filed directly or indirectly. And Fielmann is particularly proud of its latest baby involving augmented reality specialist FittingBox S.A. – in which Fielmann has held a share of around 20 per cent since 2018: under the name “Frame Removal”, customers can now try on their glasses online without having to remove their old ones. “This is particularly interesting for people with severe visual impairments, who make up around 20 per cent of our customers, as they can otherwise only see very little when trying on glasses,” explains Fielmann. This year, there are also plans to make the introduced measurement technologies available via the online shop in order to open up further digital distribution channels for buying glasses online.But even if Fielmann should succeed in offering all of the necessary technologies online at a corresponding level of quality, the company is still intentionally hitting the brakes – at least when it comes to the expected online turnover for prescription glasses. The industry report by the Central Association of Opticians and Optometrists (ZVA) currently shows the share of prescription glasses bought online to be around one per cent, sunglasses come to twelve per cent, contact lenses have even reached a record value in the last year at 45 per cent. Therefore, even in the bestcase scenario, Fielmann only expects ten per cent of prescription glasses to be bought online in the long term due to the complexity of the optometric measurements. If contact lenses and sunglasses are included in this calculation, e-commerce turnover of around 400 million euros can be expected, which would account for around 15 per cent of the total turnover of the Fielmann Group.

The digital transformation of the industry giant is thus taking on ever more precise characteristics. This is also confirmed by the growing share of parcels sent by Fielmann directly to its customers. While there were only 106,000 parcels in 2016, the number increased tenfold in the last year to over one million (primarily driven by the shipping of contact lenses and sunglasses). In the long term, the figure is expected to increase to five million parcels, which would once again mean a five-fold increase in the current shipments. And the number of omnichannel users will also increase further from the current 22 million. The key driver so far has been the system for arranging appointments online (11 million), although searches for products, price comparisons and order status tracking also play a significant role. “Expanding the omnichannel service is crucial for our customer satisfaction. Due to our in-house market research, we know that 70 per cent of our customers want this very service when buying their glasses,” emphasises the chairman of the management board. To cater to this desire, the platform will be gradually expanded across the entire Fielmann region. In Austria, sunglasses are also set to be available online from the second quarter this year, with the entire range available in the fourth quarter. In Italy, sunglasses and contact lenses should be available to purchase online in the third quarter – product groups that are already available in Spain (Optica &amp; Audiologia Universitaria), Poland and the Czech Republic.In any case, international markets should contribute to the significant growth of Fielmann – as they are already doing so. Net turnover increased from 197 million euros (2020) to 455 million euros (plus 53 per cent), and a total of 45 new branches were added. The foreign contribution to the company’s turnover increased from 21 to 27 per cent and is set to continue to grow disproportionately in the coming years. In Slovenia, Fielmann has become the market leader overnight since its takeover of Optika Clarus; Fielmann is the second largest chain in Poland and the third largest in Italy. The takeover of Optica &amp; Audiologia Universitaria also immediately pushed Fielmann from zero to third in Spain. “Nevertheless, we are driving the expansion forward with a sense of proportion. We are not only selecting economically successful companies, but above all partners who are a good fit for Fielmann in terms of their values, their customer orientation and their affordability,” highlights Marc Fielmann. It will be exciting to see which potential companies in France could be of interest to Fielmann. The omnichannel platform should certainly be a great asset here, and also offer synergies, such as by bundling purchasing conditions.

Ukraine war also affects Fielmann directly

One market in which Fielmann has already been active since 1999 but which is not among the major growth or expansion markets is Ukraine. The 36 branches and the online shop are recorded on the balance sheet for the last year with four million euros of turnover and a result of 0.5 million euros. The outbreak of war also saw Fielmann’s business come to an abrupt standstill at the end of February. “At the beginning of the war, our focus was placed in the protection and well-being of our 269 employees. This is why we immediately closed all of our stores,” explains Fielmann. The good news: at the time of the press conference, all of the employees were unharmed, and there was also no significant damage to any of the buildings. The company offered all of its employees a job abroad, including language courses and support with integration. “28 employees also accepted this offer, 24 are taking part in language courses, 13 are already working in branches or the headquarters departments outside Ukraine.” Twelve fled to Germany, five of whom are already working, the rest are either taking part in language courses or do not currently feel able to go back to work.All of the employees from the Ukrainian branches continued to receive their wages, despite the huge plummet in turnover, which at least offered financial security to almost 1,000 people, including family members. This costs Fielmann around 100,000 euros a month. An internal aid fund was also activated, allowing people to offer quick, unbureaucratic assistance to Ukrainian colleagues who have suffered damage, for instance. And how are things when it comes to looking after Ukrainian customers on-site? At least an emergency service with reduced opening hours is offered to the population wherever the war situation permits. “We are impressed by our employees’ commitment in this unimaginable time,” says Fielmann, adding: “But the truth is also that whole streets have been destroyed, many people have fled.” Long-term thinking is needed if economic success is to be possible in Ukraine again. The company will thus be involved in the restoration, be it through donations in kind, money or planting trees.

Difficult forecast for 2022: three scenarios imaginable

Both the Ukraine conflict and the coronavirus pandemic would make forecasts for the current financial year difficult. In this regard, Fielmann refers to the current figures from GfK, which sees consumer confidence at the lowest level since 1991. “However, despite the external situation, we have so far managed to avoid a cost increase; we are only observing a significant price increase when it comes to energy and transport costs, but they do not play such a big role in the total mixed cost,” explains Fielmann. As a result, upward price adjustments have not been necessary so far. On the contrary, prices have even been lowered in some product groups to secure price leadership. Correspondingly, three forecasts have been made for the current financial year: Scenario 1 (optimistic): With a turnover increase of around ten per cent compared to the previous year to 1.85 billion euros and glasses sales of 9.2 million, Fielmann expects a 13 per cent increase in earnings before tax (EBT). Scenario 2 (conservative): With a turnover increase of around seven per cent to around 1.8 billion euros and glasses sales of 8.9 million, the EBT margin will be 12 per cent. Scenario 3 (pessimistic): With a turnover increase of around four per cent to 1.75 billion euros compared to the previous year, sales of 8.6 million glasses are estimated and an EBT margin of ten per cent will be achieved.This would be measured against the planned investments for this financial year on a regular basis, reprioritised on a case-by-case basis and, where necessary, brought forward, postponed or cancelled. In 2022, Fielmann is currently planning to invest more than 95 million euros of its own funds in expanding, modernising and maintaining its network of branches as well as in production and infrastructure. More than 40 new branches are set to be opened or acquired across all of the markets. Fielmann is planning renovations or expansions for more than 40 other existing branches. Investments totalling around 64 million euros are planned in Germany, around seven million euros each in Switzerland and Italy, around six million euros in Austria and three million euros in Poland. Of the total amount, 62 million euros is set to be spent on renovating existing stores and opening new ones, eleven million euros on expanding production capacities, and a further 23 million euros on group infrastructure and distribution channels.Far away from all of the scenarios, 2022 will definitely be historic for Fielmann in one respect: the company will be reaching its 50th anniversary on 21 September and will “celebrate this in a fitting manner”.

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Hamburg expansion plans: France in sight

Source: Deutsche Optiker Zeitung 

Fielmann Group’s Venture and Investment arm, Fielmann Ventures, has entered an agreement to acquire a 10% equity stake in Deep Optics, a leading deep tech company and developer in the electro-optics space. Fielmann Ventures is leading a Series C investment in Deep Optics, enabling the adaptive glasses company to further develop its groundbreaking technology.Deep Optics, based in Petah Tikva, Israel, is the inventor and pioneer of dynamic focal glasses. Its proprietary technology uses pixelated liquid crystal lenses to adjust the focal distance of glasses to any distance. As a result, the wearer has a much larger field of vision compared to glasses with conventional progressive lenses. This technology not only has the potential to disrupt the optical lens market but also offers exciting applications in the field of smart glasses.Marc Fielmann, CEO of Fielmann Group: “This investment is a decisive step in our Vision 2025 as part of which we digitise our family business. Following our customer-centric philosophy, we grow a portfolio of disruptive technologies that fundamentally transform the customer experience in the eyewear and acoustic markets. Our investment in Deep Optics extends our smart glasses offerings and complements our technological capabilities. While our 27 million customers will benefit from early access to a highly innovative lens technology, we also pave the way for a variety of exciting applications in the future: The ability to dynamically adjust the optical focus could become a game changer for the entire smart glasses industry. As part of our strategic partnership, we are going to jointly develop applications in the fields of progressive lenses and smart glasses.”Yariv Haddad, CEO of Deep Optics: “What excites me most about our partnership with the Fielmann Group is its complimentary nature: While we bring deep technology know-how and product development capabilities, Fielmann brings vast knowledge of customer needs and eyecare expertise. We share the belief in the future of adaptive optics, and we are going to jointly transform the customer experience using this technology. After developing our unique liquid crystal lens technology, we are thrilled to begin marketing our first product, 32°N, the only one of its kind that utilizes our unique lenses. After completing a successful beta testing phase, we are going to make 32°N available for customers next year. The additional funding will help us scale our adaptive vision correction and to continue to develop cutting-edge products for vision correction, along with augmented and virtual reality applications.”&nbsp;Hamburg, 8 November 2022 Fielmann Aktiengesellschaft The Management Board

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Investment complements disruptive technologies portfolio and strengthens Fielmann Group’s capabilities in smart glasses

Fielmann Ventures announces investment in Israeli deep tech company Deep Optics

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