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Fielmann (FIE) investor relations material
Fielmann Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved 2.3% sales growth at constant currency in H1 2026, with robust international momentum offsetting subdued German market performance and stable profitability (adjusted EBITDA margin 23.7%, EBT margin 13.0%).
Expansion strategy accelerated, with 37 new stores added in H1 and a pipeline of 33 more for H2, aiming for about 70 new stores in 2026.
Group sales increased by 2.3% at constant currency, with 1.7% organic and 0.6% M&A contributions.
Improved growth dynamic expected for H2 2026, driven by new stores, targeted hiring, and AI-based productivity gains.
Financial highlights
Total consolidated sales reached €1,248m, up 2.3% at constant currency and 1.8% year-over-year.
Adjusted EBITDA was €296m (+1.3% YoY), with a margin of 23.7%; adjusted EBT was €162m (+1.7% YoY), margin 13.0%.
Net profit attributable to shareholders grew 3.8% to €111.5m; EPS reached €1.33.
Cash position at €265m post-dividend, with equity ratio rising to 42.8%.
Cash flow from operating activities was €188m, impacted by temporary working capital effects.
Outlook and guidance
Full-year 2026 sales expected between €2.50bn and €2.55bn, representing 2–5% growth.
Adjusted EBITDA guidance set at €560m to €580m, with margin between 22% and 23%; adjusted EBT margin around 12%.
Management expects improved growth and profitability in H2, supported by expansion and productivity initiatives.
Guidance subject to geopolitical and macroeconomic uncertainties; based on August 2026 exchange rates.
- Record FY2025 results and robust FY2026 growth guidance with expanding market share.FIE
Q4 2025 - Q1 2026 sales rose 1.3% to €613m, with robust margins and a higher dividend proposed.FIE
Q1 2026 - Sales up 9% to €1,842m with margin gains; 2025 outlook strong despite German and FX risks.FIE
Q3 2025 - Sales up 12.3% with margin gains, strong cash flow, and FY2025 outlook confirmed.FIE
Q2 2025 - Fielmann Group combines market leadership, digitalization, and M&A to drive global growth.FIE
Investor Presentation - 13% sales growth and margin gains achieved amid European recession and US expansion.FIE
Q3 2024 - Double-digit sales and profit growth in HY1 2024, boosted by US expansion and digitalisation.FIE
H1 2024 - Double-digit growth, record margins, and global expansion set the stage for 2025.FIE
Q1 2025 - Double-digit sales and profit growth in 2024, with higher margins and a raised dividend.FIE
Q4 2024
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