Fielmann has reported a further increase in sales during the third quarter ended Sept. 30 – in both volume and value – but the operating, pre-tax and net earnings declined as compared to the year-ago period.
While consolidated revenues went up by 2.0 percent to €346.8 million for the quarter, with the number of glasses sold rising to 1.98 million pairs from 1.97 million pairs, pre-tax earnings were down by 0.9 percent to €70.1 million. Net consolidated earnings were off by 9.2 percent to €49.7 million.
The nine-month results followed similar trends, and a slight drop in profits is also expected for the full financial year, offsetting the increase enjoyed in the first half of the year. For the nine months, Fielmann has reported a 3.6 percent drop in consolidated net income to €132.5 million on 2.2 percent higher sales of €1,009.3 million.
During the nine months, sales increased by 2.7 percent in Germany to €796.8 million and by 5.8 percent to €60.0 million in Austria, but fell by 2.8 percent in Switzerland. Higher pre-tax earnings were recorded in Austria, but the net profit declined in Germany as well as Switzerland. In Germany, it fell by 5.2 percent to €101.7 million.