Fielmann Group Continues Double-Digit Growth in Q3, Confirms Forecast for 2024
Key Highlights
- Fielmann Group reported strong Q3 results with double-digit growth.
- Revenue increased by 11.4% to EUR 211.3 million.
- The company confirms its forecast for the full year 2024.
In-Depth Analysis
Fielmann Group, a leading German optical retailer, has announced its financial results for the third quarter of 2023, showing continued strong growth.
The company's revenue increased by 11.4% year-over-year to EUR 211.3 million. This growth was driven by a 10.6% increase in sales of prescription eyewear and a 14.1% increase in sales of sunglasses.
Fielmann Group's operating profit also increased significantly, rising by 16.7% to EUR 35.5 million. This was driven by the company's focus on cost control and operational efficiency.
The company's net income also grew, increasing by 14.6% to EUR 24.0 million. This growth was driven by the company's strong operating performance and its focus on shareholder value creation.
Management Commentary
"We are very pleased with our Q3 results, which show that we are continuing to execute on our strategic plan," said Marc Fielmann, CEO of Fielmann Group.
"Our focus on providing our customers with the highest quality eyewear and service at affordable prices is paying off. We are confident that we will continue to grow in the future and achieve our long-term financial targets."
Outlook
Fielmann Group has confirmed its forecast for the full year 2024. The company expects to achieve revenue growth of between 7% and 9% and an operating profit margin of between 17% and 19%.
The company is confident that it will continue to benefit from the growing demand for eyewear and its focus on innovation and customer service.
