Fielmann AG — Earnings Release 2004

Feb 24, 2005

News Details

Ad-hoc | 24 February 2005 07:56

Fielmann AG :Preliminary figures for business development in 2004

Preliminary figures Fielmann AG :Preliminary figures for business development in 2004. Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­ Fielmann strengthens its leadership: 53% market share of unit sales Consistent dividend policy: EUR 1.60 per share 2005: 30% increase in new orders Financial year 2004 Fielmann has emerged favorably from a year of recession, which was marked by a structural reform in the health service. The Group increased its market share of unit sales to 53% (exceptional year 2003: 50%). The rest of the optical industry experienced a decrease of over 30% in unit sales and sales (GfK). The market leader achieved external sales of EUR 764 million (exceptional year 2003: EUR 1,010.2 million), consolidated sales of EUR 642 million (exceptional year 2003: EUR 814.5 million) and pre-tax profit of EUR 71.9 million (exceptional year 2003: EUR 112.2 million). Profit was up 14.1% on that of 2002, the last year to remain unaffected by the structural reform. Net profit stood at EUR 45 million (exceptional year 2003: EUR 70.1 million). Our shops in the neighbouring countries, Austria and Switzerland, contributed 30% to Fielmann’s net profit for the year (previous year: 14,3%). In view of the pleasing business development, Fielmann’s Management Board and Supervisory Board will be recommending a dividend of EUR 1.60 per share to the Annual General Meeting. Financial year 2005 In Germany, the units sold for new orders in 2005 are 30% higher than the figure for the same period in the previous year. We are confident of expanding our market share throughout Europe with a corresponding rise in earnings. Further details on the financial statements for the company and the Group will be announced at Fielmann’s accounts press conference on April 28, 2005. Hamburg, February 24, 2005 Fielmann AG For further information contact: Ulrich Brockmann, Leiter Investor Relations Fielmann AG, Weidestrasse 118 A, 22083 Hamburg, Telefon: 0 40 / 270 76 – 442 FIELMANN AG Weidestrasse 118 a 22083 Hamburg Deutschland ISIN: DE0005772206 (MDAX) WKN: 577220 Listed: Amtlicher Markt in Düsseldorf, Frankfurt (Prime Standard) und Hamburg; Geregelter Markt in Berlin-Bremen, Hannover, München und Stuttgart End of ad hoc announcement (c)DGAP 24.02.2005 Issuer’s information/explanatory remarks concerning this ad hoc announcement: Fielmann strengthens its leadership: 53% market share of unit sales. 2004: 14% profit increase compared with 2002, despite structural reform. Consistent dividend policy: EUR 1.60 per share. 2005: 30% increase in new orders. Financial year 2004 2004 was a year of recession which was marked by structural reform, during which the rest of the optical industry experienced a decrease of over 30% in unit sales and sales. Fielmann increased its market share of unit sales to 53%, while achieving external sales of EUR 764 million, consolidated sales of EUR 642 million and pre-tax profit of EUR 71.9 million. The Group is on budget, with profits up 14.1% on 2002, which was the last year before the structural reform took effect. In the other German-speaking countries net annual profits in 2004 rose by 48%. Our shops in Austria and Switzerland currently contribute 30% to Fielmann’s net annual income. We are pursuing our expansion strategy efficiently. In view of the pleasing business development, Fielmann’s Management Board and Supervisory Board will be recommending a dividend of EUR 1.60 per share at the Annual General Meeting being held on July 7, 2005, which is the same as that of the previous year. During recent years the German optical industry has undergone three structural reforms and has therefore had to adapt to diminished statutory health insurance benefits three times. The effect on sales was similar each time – in the year prior to the announced cuts in statutory insurance benefits unit sales increased disproportionately, in the year of the structural reform the sector was in recession and in the following year unit sales stabilised at the level of the last year to remain unaffected by the reform. Fielmann has again emerged favourably from the recession following the reform and has further strengthened its position as a market leader. Spectacle wearers who lost their entitlement to prescription lenses under statutory health insurance as a result of the latest structural reform (with a few exceptions) are now offered an attractive alternative by Fielmann through the zero-payment insurance policy from HanseMerkur. At just EUR 10 per year, the zero-payment policy gives Fielmann customers access to stylish spectacles complete with Zeiss lenses, which they can replace every two years. Lenses are replaced free of charge in the event of breakage, damage or changes in eyesight. The premium for bifocals/varifocals is EUR 50. It is not surprising that several hundred thousand Fielmann customers have already taken out this zero-payment insurance policy. Financial year 2005 In Germany, the increase in new orders in 2005 is 30% higher than that in 2004. We anticipate a clear upturn in demand during 2005 and are confident of expanding our market share throughout Europe with a corresponding rise in earnings. Hamburg, February 2005 Fielmann Aktiengesellschaft The Management Board For further information contact: Ulrich Brockmann, Head of Investor Relations Fielmann AG, Weidestrasse 118 A, D-22083 Hamburg, Tel: +49 40 270 76 442 End of message (c)DGAP 240756 Feb 05