Fielmann increases market share and invests in the future

Fielmann expects to increase unit sales during the first six months of the year by 1 per cent to a total of 4.05 million pairs of glasses. According to preliminary estimates, external sales are expected to grow by roughly 1 per cent to 823 million euro, while group-wide sales should see a 2.0 per cent increase to 711 million euro.
It has used available liquidity to strengthen its position in the market, to invest in digitalization and to accelerate its expansion. It anticipate earnings totalling 116 million euro before taxes for the first half of the year (previous year earnings: 123.6 million euro).
By the end of the first half of the year it has increased its number of employees by roughly 430 compared to the same period last year to a total of over 18,300.
As a result of the new employees as well as an increase in salaries, it expect to see personnel costs in Germany rise by about 10 million euro in the first six months of 2018.
In the first half-year, Fielmann has also invested more in its digital capabilities and in its brand image. The impact on earnings will total roughly 2 million euro.
Fielmann is accelerating its expansion in Italy. By 30 June 2018 Fielmann operates 12 Italian stores. 6 new openings in Italy are planned for the second half of the year. Additional up-front costs for these openings totalling roughly 2 million euro have been factored into the expected earnings for the first six months of the year.
The development of the Swiss franc will impact both segment sales and earnings before taxes. The effects are expected to amount to 6 million and 2 million euro, respectively.
Fielmann expects 2018 earnings before taxes for the entire year to be on par with those of the previous year. It anticipates an increase in unit and group-wide sales in 2018 similar to that of 2017.