3Sem.·

$FIE (-0,25 %) Fielmann continues to grow - but share price still falls


  • US acquisitions drive growth
  • Full-year targets confirmed
  • Share price falls the most since 2022


The optician chain Fielmann has continued its growth course thanks to acquisitions in the USA, but still disappointed the stock market. In the past quarter, sales rose by a good 15 per cent to 601 million euros, Fielmann announced on Friday.

The operating profit increased by almost nine percent to 142 million euros. However, Fielmann was unable to convince investors on the stock market.

The share, which is included in the small-cap index SDax, fell by more than ten percent at times, the sharpest fall since two years ago. The figures presented were below his expectations, wrote DZ Bank analyst Thomas Maul.

The European business in particular was disappointing. He therefore expects his colleagues to lower their earnings forecasts, although the company has reaffirmed its full-year targets.


Europe's largest optical chain expects consolidated sales of around 2.3 billion euros for the 2024 financial year.

The operating profit margin in the European business is expected to be just under 23 percent. Although it will be lower in the USA, it will increase significantly in the current and coming year.


In the first nine months of 2024, Group sales rose by 13% to EUR 1.69 billion. Five percent was attributable to organic growth and the rest to acquisitions in the USA. Adjusted operating profit also increased by 13% to 379 million euros. This resulted in a return of 22.4 percent. The current savings program is paying off here. In addition, more high-margin products were sold.

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