HAMBURG (dpa-AFX) - Fielmann Group AG (FLMNF.PK), a German eyewear company,
on Thursday announced preliminary first-half results, expecting earnings before
taxes or EBT of about 125 million euros, up 16 percent from previous year's 108
million euros.

Earnings before interest, taxes, depreciation and amortisation or EBITDA would
be up about 14 percent to around 235 million euros to 240 million euros, from
last year's 208 million euros. The corresponding EBITDA margin would be about
21.6 percent, higher than previous year's 21.2 percent.

The company said the development was driven by European business where EBITDA
margin was increased by around 2 percentage points to around 23 percent.

Fielmann generated consolidated sales of around 1.1 billion euros in the first
half, a 12 percent increase over previous year's 971 million euros.

Strong sales growth was recorded across all major markets despite weak consumer
sentiment in Europe.

Looking ahead for the full year 2024, Fielmann expects consolidated sales of 2.3
billion euros, up 15 percent over last year. At Group level, including Fielmann
USA, the company projects an increased EBITDA margin in 2024 compared to
previous year when adjusting for transaction and integration costs.

Group EBT margin is set to increase both in 2024 and 2025.

For European markets, the company expects to reach an EBITDA margin of about 23
percent in 2024 and confirmed Vision 2025 goal of 25 percent in 2025.

Fielmann USA is starting at a lower profitability base but will significantly
improve its EBITDA margin in 2024 and 2025.

In 2025, EBITDA margin is cted to reach about 24 percent at Group level when
including the newly acquired US businesses.

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