Added to YB: 2026-09-04
Pitch date: 2026-09-01
FIE.DE [neutral]
Fielmann Group AG
+1.16%
current return
Author Info
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Company Info
Fielmann Group AG engages in vision care and audiology business in Germany, Switzerland, Austria, Spain, North America, and internationally.
Market Cap
EUR 3.3B
Pitch Price
EUR 38.75
Price Target
N/A
Dividend
3.58%
EV/EBITDA
6.92
P/E
15.68
EV/Sales
1.59
Sector
Specialty Retail
Category
N/A
Fielmann (FIE Germany): German demand improving (modestly)
FIE.DE (earnings): Fielmann’s core business remained resilient in H1, with like-for-like revenue up 2.3% and adjusted EBITDA margin broadly stable at 23.7% despite soft German demand and US investment. Trading improved in July and August, including Germany, but consumer confidence remains weak. Spain’s Q2 sales grew almost 10%, while additional US staff and capacity reduced H1 US margin by about 250bp; sustained acceleration depends on German replacement-cycle normalization and progress from the US pilot.
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