German optician Fielmann AG reported a 5.6% increase in second-quarter net profit to €55.8 million, exceeding S&P Global Visible Alpha consensus estimates of €47.6 million. Revenue rose 2.3% to €634.9 million, also surpassing expectations of €612.7 million.
For the first half of 2026, group revenue increased 1.8% to €1.25 billion, with constant-currency growth of 2.3%. Net profit attributable climbed 3.8% to €111.5 million. Adjusted EBITDA reached €295.7 million, while the adjusted EBITDA margin held steady at 23.7%. Gross margin improved to 80.1%, though U.S. margin declined to 12.5% from 14.9% amid investments in business-model transformation.
International sales outside Germany accelerated to 6% year-over-year in Q2, up from 4% in Q1, offsetting subdued demand in the company’s largest market. Spain led growth with a 7.4% increase in first-half sales, while Switzerland recorded 2.5% growth at constant currency. U.S. sales rose 3.3% at constant currency in the first half, accelerating to 4.5% in Q2.
Fielmann maintained its 2026 guidance, targeting revenue of €2.50 billion to €2.55 billion and adjusted EBITDA of €560 million to €580 million, with a margin of 22% to 23%. The company plans to support growth through additional store openings, targeted hiring, and productivity improvements as part of its Vision 2035 strategy.
