Brief: Fielmann Q1 Pre-Tax Profit Down At EUR 17.6 Million

Fielmann AG

27/04/2020 14:45

April 27 (Reuters) - FIELMANN AG  FIEG.DE :
    * PRELIMINARY RESULTS FOR Q1 2020
    * IN FIRST THREE MONTHS OF 2020, UNIT SALES DECLINED BY 14.4
PERCENT TO 1.7 M GLASSES (Q1 2019: 1.99 M GLASSES)
    * Q1 EXTERNAL SALES, INCLUDING VAT AND INVENTORY CHANGES,
STOOD AT
EUR 407.4 M (Q1 2019: EUR 437.6 M)
    * DESPITE A FAVOURABLE DEVELOPMENT IN JANUARY AND FEBRUARY,
Q1 NET
CORPORATE SALES DECLINED TO EUR 355.3 M (Q1 2019: EUR 371.8 M)
    * Q1 PRE-TAX PROFITS WERE EUR 17.6 M (Q1 2019: EUR 67.2 M),
NET
PROFIT EUR 11.8 M (Q1 2019: EUR 46.9 M )
    * Q1 RESULTS ARE STRONGLY INFLUENCED BY TEMPORARY STORE
CLOSURES
STARTING MID-MARCH 2020 THAT BROUGHT ABOUT SALES DECLINES OF
MORE THAN 80 PERCENT DURING THAT PERIOD
    * MOST OF IMMEDIATE AND WIDE-RANGING COST REDUCTIONS THAT
SUBSEQUENTLY HAVE BEEN EXECUTED ONLY TOOK EFFECT IN Q2 2020

Source text for Eikon:  ID:nEQ5mPFVwa 
Further company coverage:  FIEG.DE 

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