Brief: Fielmann AG H1 Sales Down At EUR 611 Million

Fielmann AG

09/07/2020 07:08

July 9 (Reuters) - FIELMANN AG  FIEG.DE :
    * PRELIMINARY RESULTS AS AT 30 JUNE 2020 - OUTLOOK FOR THE
WHOLE
YEAR
    * NECESSARY MEASURES TO CONTAIN CORONAVIRUS PANDEMIC HAD A
SIGNIFICANT IMPACT ON FINANCIAL PERFORMANCE OF FIELMANN AG
DURING FIRST HALF OF 2020
    * BASED ON VISIBLE RECOVERY IN COURSE OF Q2, WE EXPECT
EXTERNAL
SALES OF OVER EUR 1.5 BILLION (PREVIOUS YEAR: EUR 1.76 BILLION)
FOR FULL YEAR, GROUP SALES OF OVER EUR 1.3 BILLION (PREVIOUS
YEAR: EUR 1.52 BILLION)
    * SALES OF FIRST HALF OF 2020 DECLINED TO 3.1 MILLION
GLASSES
(PREVIOUS YEAR: 4.1 MILLION GLASSES)
    * WE EXPECT FOR FULL YEAR A PRE-TAX PROFIT OF OVER EUR 100
MILLION
(PREVIOUS YEAR: EUR 253.8 MILLION)
    * THIS PROGNOSIS IS CONTINGENT ON ASSUMPTION THAT NO FURTHER
RESTRICTIONS DUE TO CORONAVIRUS PANDEMIC WILL IMPACT OUR
BUSINESS DURING YEAR
    * EXPECT H1 PRE-TAX PROFIT TO BE AT LEAST EUR 35 MILLION
(PREVIOUS
YEAR: EUR 127.6 MILLION)
    * SALES OF FIRST HALF OF 2020 DECLINED TO 3.1 MILLION
GLASSES
(PREVIOUS YEAR: 4.1 MILLION GLASSES), EXTERNAL SALES INCLUDING
VAT AND INVENTORY REACHED EUR 710 MILLION (PREVIOUS YEAR: EUR
884.4 MILLION)
    * GROUP SALES STOOD AT EUR 611 MILLION (PREVIOUS YEAR: EUR
758.2
MILLION). WE EXPECT OUR PRE-TAX PROFIT TO BE AT LEAST EUR 35
MILLION (PREVIOUS YEAR: EUR 127.6 MILLION)
    * AT BEGINNING OF Q2 SIGNIFICANT COST SAVINGS WERE
IMPLEMENTED.
COMPANY HOWEVER CONTINUED TO INVEST IN BUILD-UP OF ITS
OMNICHANNEL PLATFORM AT AN UNCHANGED PACE
    * SALES IN INDIVIDUAL MONTH OF APRIL DECREASED BY 70%
COMPARED TO
SAME MONTH LAST YEAR
    * FIELMANN'S MAY SALES INCREASED BY +157% COMPARED TO
PREVIOUS
MONTH (-26% OVER SAME PERIOD LAST YEAR)
    * IN JUNE SALES INCREASED BY +29% OVER PREVIOUS MONTH AND
REACHED
A LEVEL OF +3% OVER SAME MONTH LAST YEAR

Source text for Eikon:  ID:nEQ7c17vTa 
Further company coverage:  FIEG.DE 

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