HAMBURG (dpa-AFX) - The optician chain Fielmann expects continued growth in the current year. Group sales in 2024 are expected to increase at a similar rate to the previous year, reaching around 2.2 billion euros, as the company announced in Hamburg on Tuesday. The latest acquisitions in the USA are expected to contribute to this, among other things. Last year, growth amounted to 12 percent. The margin before interest, taxes, depreciation and amortization (EBITDA) is expected to be at a similar to slightly higher level compared to 2023, when 20.8 percent was achieved. The sales target is slightly higher than the average forecast of analysts surveyed by the Bloomberg news agency, while the margin is slightly lower.

The SDax-listed share initially started with price gains of more than four percent, but was unable to maintain them. In the early afternoon, the share turned negative and lost 0.4 percent. The first quarter was mixed, noted analyst Volker Bosse from Baader Bank. The profit outlook was rather disappointing.

In the first quarter, Fielmann felt the effects of subdued consumer sentiment, particularly in Germany. While Group sales rose by a total of 11 per cent to 529 million euros thanks to the positive environment in North America, revenue in Europe increased by just four per cent and in Germany by three per cent. Thanks to the ongoing savings program, the operating result rose by 11% to 117 million euros. At 62 million euros, pre-tax profits were seven percent higher than in the same period last year. In April, there was a clear upturn in business compared to last year, particularly in Germany, Fielmann added.

Following expansions in Eastern Europe and Spain, Fielmann sees great potential in the American market. Around 167 million people wear glasses there, as Group CEO Marc Fielmann said at the annual press conference. With industry sales of 76 billion dollars (71 billion euros), the US market is by far the largest in the world. However, customers are basically quite dissatisfied. There are hardly any appointments for eye tests. The average waiting time is 16 days; in Germany, Fielmann usually offers an eye test on the same day. In addition, the insurance system in the USA is extremely non-transparent, both in terms of reimbursement and co-payments. Fielmann sees this as a great opportunity for itself.

Last year, Fielmann therefore acquired SVS Vision and Befitting. To date, Fielmann controls 82 branches in the USA with a turnover of 110 million US dollars. In the coming months and years, Fielmann intends to expand from Michigan, where the company is already the market leader, in the northern part of the Midwest and achieve sales of around 300 million US dollars with more than 200 branches. Overall, the international business of the world's third-largest optician chain now accounts for 35 percent. "In the long term, we are aiming for a foreign share of 50 percent," said Fielmann.

The CEO also announced that the company would be expanding its cooperation with external ophthalmologists in order to offer eye examinations to more and more people in its own stores. Fielmann has therefore developed an eye check-up together with the start-up Ocumeda, which was founded by ophthalmologists, and initially introduced it as a pilot in some stores in Switzerland. All measurements required by the doctor are carried out in the stores and the data is forwarded. The doctor then suggests the next steps on this basis and sends the results to the customer within three to five working days, as Fielmann said.

So far, this service, which costs 49 euros, is offered in 129 branches in Germany and Switzerland. By the end of this year, it will be available in 400 German and 36 Swiss branches, said Fielmann./nas/DP/niw/jha/