Germany's Fielmann Q3 sales rise year on year, maintains 2026 outlook

Overview

• Germany's vision care provider Q3 sales rose 5.1% yr/yr to €649 mln

• Company opened 19 new locations in Q3, supporting international sales growth

• Adjusted EBITDA margin held at 23.4% for first nine months

Outlook

• Fielmann confirms full-year 2026 guidance updated in August

• Company expects 2026 sales of €2.50 bln to €2.55 bln, up 2% to 5% YoY

• Fielmann sees 2026 adjusted EBITDA at €560 mln to €580 mln, margin 22% to 23%

Result Drivers

• PRICE LEADERSHIP - Co said value-focused pricing drove unit growth in existing stores

• NETWORK EXPANSION AND AUDIOLOGY - New store openings and audiology segment growth supported sales

• TECHNOLOGY ROLLOUT - AI-based automated refraction technology improved capacity and productivity

Company press release:

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the miscellaneous specialty retailers peer group is "buy"

• Wall Street's median 12-month price target for Fielmann Group AG is €55.00, about 32.9% above its November 4 closing price of €41.40

• The stock recently traded at 16 times the next 12-month earnings vs. a P/E of 15 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)