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Fielmann (FIE) investor relations material
Fielmann Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Group sales for the first nine months of 2025 increased by 9% year-over-year to €1,842m, with 4% organic growth and 5% from US acquisition; Q3 growth was 4% organically at constant currency.
Adjusted EBITDA rose 18% year-over-year to €434m, with margin reaching 23.6% and adjusted EBT up 20% to €238m.
US operations regained growth momentum, with Q3 US dollar sales up 4% year-over-year and US platform contributing $233m (+69% year-over-year) in 9M/2025.
The outlook for 2025 remains positive, with margin expansion expected in Q4 and full-year targets reaffirmed.
Profitability improved significantly, with adjusted EBT margin up 1.1 percentage points to 12.9%.
Financial highlights
Total consolidated sales reached €1,842m for 9M/2025, up from €1,689m in 9M/2024 (+9% year-over-year).
Unit sales of glasses increased 3% to 7.0 million; hearing aids up 7% to 103,000 units.
Net profit attributable to shareholders increased 24.3% to €155.6m; EPS at €1.85 (up from €1.49).
Q3/2025 consolidated sales: €618m (+3% year-over-year); Q3 Adjusted EBITDA: €145m (+4%).
Growth was supported by all major markets and product categories, with notable contributions from the Shopko Optical consolidation.
Outlook and guidance
Margin expansion is expected to continue in Q4, supported by favorable sell-out structure, optimized personnel expenses, and cost-conscious overheads.
Management expects unit sales to reach 9.5 million and consolidated sales to approach €2.5bn for FY2025.
Adjusted EBITDA margin forecasted at around 24%, with Adjusted EBITDA near €580m.
Adjusted EBT margin expected to continue improving at a similar rate as previous years.
The company remains on track to deliver on Vision 2025 targets.
Detail US business model transformation
Elaborate on Europe's sell-out structure improvement
Reconcile US 9M vs Q3 sales growth figures
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Frequently asked questions
Fielmann Aktiengesellschaft is a retailer specializing in eyewear and optical products. The company offers a wide range of prescription glasses, sunglasses, contact lenses, and related accessories. Fielmann operates a network of retail stores, primarily in Germany and other European countries, where it provides professional eye care services, including vision tests and consultations. The company is headquartered in Hamburg, Germany, and its shares are listed on the FSE (Frankfurt Stock Exchange).
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