23.02.2023 Fielmann AG  DE0005772206

EQS-Adhoc: Fielmann AG: Preliminary Figures for FY2022/Dividend


 

EQS-Ad-hoc: Fielmann AG / Key word(s): Annual Results/Dividend
Fielmann AG: Preliminary Figures for FY2022/Dividend

23-Feb-2023 / 07:37 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


In 2022 the Fielmann Group generated external sales of around €2.03 billion (incl. VAT and inventory changes), a 5% increase over the previous year (€1.94 billion). Consolidated sales rose to €1.76 billion (+5%, previous year: €1.68 billion). Central European markets delivered robust single-digit to double-digit growth. The Czech Republic, Italy, Poland, Slovenia and Spain all grew at double digits over the previous year. Altogether, our international markets are expected to have reached net sales of €506 million, an 11% increase over the previous year (€455 million). 
Among our product categories, sunglasses and contact lenses developed particularly favourably, with growth rates of +32% and +23% respectively compared to previous year. Prescription eyewear and hearing aids saw solid to strong single-digit growth rates. Of the 968 stores (previous year: 913) that the Fielmann Group operated at year end, 352 included hearing-aid studios (previous year: 312) and dispensed more than 100,000 hearing aids in 2022.
FY2022 EBITDA is expected to stand at approximately €339.8 million (-14.2%, previous year: €396.1 million), while EBT amounts to approximately €160.7 million (-23.4%, previous year: €209.7 million) and net income to about €110.0 million (-23.9%, previous year: €144.6 million). 
To sustain our accelerated rate of investment and seize additional acquisition opportunities, the Management Board and Supervisory Board are going to recommend a dividend for the 2022 financial year of €0.75 per share (previous year: €1.50) to the Annual General Meeting on 13 July 2023. Based on our year-end share price, the dividend yield amounts to 2,0%. The total dividend payout equates to €63 million (previous year: €126 million) and corresponds to a payout ratio of 60% (previous year: 92%).  The retained funds are earmarked to be used for additional strategic investments in the short term. 
 

Information and Explanation of the Issuer to this announcement:

Fielmann Group surpasses €2 billion ext. sales in FY2022, eyes new investments
Market share gains across all major markets, adjusted dividend policy to accelerate strategic investments


In the year of its 50th anniversary the Fielmann Group has, for the first time, passed the threshold of €2 billion in external sales according to preliminary figures. The year 2022 was shaped by a protracted Covid-19 pandemic, the war in Ukraine and, as a result, soaring inflation rates together with the lowest consumer confidence level on record in nearly all of our markets. In this economic environment, Group sales are expected to have grown by +5 % over the previous year – in line with our Vision 2025 as well as our adjusted full-year forecast.
In 2022, the Fielmann Group gained market shares in all major countries. In Germany our anticyclical price reductions allowed us to attract new customers and significantly grow our volume market share. In Eastern and Southern Europe most markets expanded their sales at double digits over last year, with market shares increasing at a similar rate.

Preliminary financials for FY2022

In 2022 the Fielmann Group generated external sales of around €2.03 billion (incl. VAT and inventory changes), a 5 % increase over the previous year (€1.94 billion). Consolidated sales rose to €1.76 billion (+ 5%, previous year: €1.68 billion). Central European markets delivered robust single-digit to double-digit growth. The Czech Republic, Italy, Poland, Slovenia and Spain all grew at double digits over the previous year. Altogether, our international markets are expected to have reached net sales of €506 million, an 11 % increase over the previous year (€455 million).
Among our product categories, sunglasses and contact lenses developed particularly favourably, with growth rates of + 32% and + 23% respectively compared to previous year. Prescription eyewear and hearing aids saw solid to strong single-digit growth rates. Of the 968 stores (previous year: 913) that the Fielmann Group operated at year end, 352 included hearing-aid studios (previous year: 312) and dispensed more than 100,000 hearing aids in 2022. Of the 22,631 people who contributed to our family business (previous year: 22,028), 1,166 worked in our hearing-aid business (previous year:1,128).
FY2022 EBITDA is expected to stand at approximately €339.8 million (–14.2 %, previous year: €396.1 million), while EBT amounts to approximately €160.7 million (–23.4 %, previous year: €209.7 million) and net income to about €110.0 million (–23.9 %, previous year: €144.6 million).
While the FY2022 sales growth is in line with our Vision 2025, the Management Board is now focusing on the bottom line. As announced at the Annual General Meeting in July 2022, a Cost Leadership Program has been launched in order to reduce structural costs in our head offices and central service functions. As the price leader, the Fielmann Group has to be the cost leader as well. The program lays the foundation for our future success and will enhance our profitability in the medium term. We will provide additional details during our Annual Press Conference in April 2023.

Adjusted dividend policy to accelerate strategic investments

To sustain our accelerated rate of investment and seize additional acquisition opportunities, the Management Board and Supervisory Board are going to recommend a dividend for the 2022 financial year of €0.75 per share (previous year: €1.50) to the Annual General Meeting on 13 July 2023. Based on our year-end share price, the dividend yield amounts to 2.0%. The total dividend payout equates to €63 million (previous year: €126 million) and corresponds to a payout ratio of 60% (previous year: 92%). The retained funds are earmarked to be used for additional strategic investments in the short term.

Outlook

While the war in Ukraine is impacting our Group directly and indirectly, our position as price leader has allowed us to gain market shares across all major markets in the last few months. Our focus now lies on retaining our new and existing customers through excellent service while sustaining our price leadership by means of cost leadership.
In line with our Vision 2025, our investments in digitalisation and internationalisation will continue to deliver double-digit growth rates in our digital sales channels as we roll out our omnichannel platform internationally. Our international markets will continue to contribute substantially to our growth. With our recent acquisition in the Basque Country, we are expecting significant double-digit sales growth in Spain in 2023 and to be market leader in the medium term.
Further acquisitions promise additional growth potential within our existing markets and beyond. The Fielmann Group is following its purpose internationally: To help everyone hear and see the beauty in the world.
A consolidated guidance at Fielmann Group level including the newly acquired Spanish subsidiaries as well as the effects of our cost-saving measures will be reviewed by our Supervisory Board in April and published subsequently, as part of our Annual Report.

Hamburg, 23 February 2023

Fielmann Group (Fielmann Aktiengesellschaft)
The Management Board

Further Information: Katrin Carstens, Director Communication & Public Relations, Phone: +49 40 270 76 – 5907
Ulrich Brockmann, Director Investor Relations, Phone: +49 40 270 76 – 442
 

23-Feb-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: Fielmann AG
Weidestraße 118a
22083 Hamburg
Germany
Phone: +49 (0)40 270 76-0
Fax: +49 (0)40 270 76-390
Internet: www.fielmann.de
ISIN: DE0005772206
WKN: 577220
Indices: SDAX
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange
EQS News ID: 1566417

 
End of Announcement EQS News Service

1566417  23-Feb-2023 CET/CEST

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Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 1.385,97 1.428,00 1.520,75 1.428,93 1.678,15 1.759,30 1.970,00
EBITDA1,2 291,32 295,87 384,70 336,70 396,13 339,85 410,00
EBITDA-Marge3 21,02 20,72 25,30 23,56 23,61 19,32
EBIT1,4 249,05 250,76 253,70 176,26 308,88 160,47 224,00
EBIT-Marge5 17,97 17,56 16,68 12,34 18,41 9,12 11,37
Jahresüberschuss1 172,85 173,63 177,29 120,81 144,58 109,95 132,00
Netto-Marge6 12,47 12,16 11,66 8,45 8,62 6,25 6,70
Cashflow1,7 287,14 205,64 301,75 278,47 346,69 268,09 0,00
Ergebnis je Aktie8 2,00 2,01 2,05 1,39 1,63 1,24 1,70
Dividende8 1,85 1,90 0,00 1,20 1,50 0,75 1,80
Quelle: boersengefluester.de und Firmenangaben

  Geschäftsbericht 2022 - Kostenfrei herunterladen.  
1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer: Deloitte

INVESTOR-INFORMATIONEN
©boersengefluester.de
Fielmann
WKN Kurs in € Einschätzung Börsenwert in Mio. €
577220 43,100 Kaufen 3.620,40
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
21,55 33,07 0,65 24,43
KBV KCV KUV EV/EBITDA
5,03 13,50 1,84 8,67
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
Hauptversammlung
0,75 1,00 2,32 11.07.2024
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
25.04.2024 29.08.2024 07.11.2024 30.04.2024
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
0,48% -2,90% -11,39% -8,22%
    
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