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credit: Fielmann
credit: Fielmann

Fielmann was able to significantly increase profit in 2023

The optician chain Fielmann increased its sales and profits significantly last year.

Consolidated sales rose by twelve percent to just under two billion euros, as the company announced on Thursday in Hamburg on the basis of preliminary figures. Fielmann benefited from organic growth in its existing markets as well as acquisitions.

Earnings before interest, taxes, depreciation and amortization (EBITDA) are expected to have risen by a good fifth to 410 million euros in 2023. Profit before taxes rose by 20 per cent to around 193 million euros. Fielmann attributed the increase to higher sales of more expensive varifocals, the ongoing savings program and lower marketing costs. The company thus achieved its own forecast. Analysts had hoped for slightly higher earnings.

In line with tradition, Fielmann has not yet provided an outlook for the current year. This will be presented when the annual report is published in April. In the fourth quarter of 2023 and the beginning of 2024, most markets were characterized by subdued consumer sentiment, it said. In Germany, the propensity to buy had declined. Nevertheless, the company remains optimistic that it will be able to further expand its market position in 2024.


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