EQS-News: Fielmann Group with Q3 results on track to reach FY2025 guidance, 9M/2025 Adj. EBITDA margin in Europe reaches 24.8%

Fielmann Group with Q3 results on track to reach FY2025 guidance, 9M/2025 Adj. EBITDA margin in Europe reaches 24.8%

• Management confirms FY2025 guidance, expects outperformance of Vision 2025 goals
• Focus on profitability pays off: 9M/2025 Adj. EBITDA increases by +1.7%pts. vs. 9M/2024
• US integration concluded, business model transformation ongoing, profitability developing favorably

9M/2025
In the first nine months of 2025, the Fielmann Group generated consolidated sales of €1,842m, an increase of +9% over the same period in 2024 (€1,689m). While our sales in Germany grew by +4%, Switzerland recorded an increase of +6% and Austria reached +7%, in line with expectations. Sales in Spain surged by +8%, and our Polish market outperformed with +14% compared to 9M/2024. In the same period, our US business grew by +69%, driven by the successful integration of the Shopko Optical acquisition. An improved sales structure, further productivity gains and ongoing cost control led to overproportionate growth of adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA) to €434m (+18%, 9M/2024: €370m). This corresponds to an improved Adj. EBITDA margin of 23.6% at Group level (9M/2024: 21.9%) and 24.8% in Europe (9M/2024: 23.1%). As our US business moved from the integration to the transformation phase, its Adj. EBITDA margin in the first nine months of the year nearly doubled to 13.9% (9M/2024: 7.3%). We expect a continued improvement in US profitability in the coming quarters.

Q3/2025
In the third quarter of 2025, Group sales reached €618m, an increase of +3% over the same quarter last year (€600m). With the Euro appreciating against the dollar, topline growth in constant currency was +4%, both in Europe as in the United States. Adjusted EBITDA grew proportionately in the quarter, reaching €145m. This corresponds to a margin of 23.4% at Group level (Q3/2024: 23.3%).

Vision 2025 will be concluded well above original plan
“When we initially announced our Vision 2025 growth plan in 2019, we neither planned for the Covid pandemic nor the Ukraine war. And yet, we are going to exceed our goals by the end of this year. This is thanks to the loyalty of our 30 million customers and the outstanding work of our 24,000 colleagues worldwide”, says Fielmann Group CEO Marc Fielmann. “Together, we formed a modern family business that delivers quality and service at the best value via its omnichannel platform. Our international sales tripled – nearly €1bn by year-end – and we grew into the third largest vision care provider worldwide. At the end of 2025 our sales will have grown almost twice as much as originally planned, and our Adjusted EBITDA is expected to exceed our original Vision 2025 target by around 50%.”

Outlook for the Financial Year 2025
Based on the results of the first nine months as well as a positive development of the first weeks of Q4/2025, Fielmann Group’s Management Board confirms its full year guidance: As we complete our Vision 2025 growth strategy, we expect FY2025 customer satisfaction to remain at a high level of around 90%. We anticipate overall sales of nearly €2.5bn. And we are confident that this year, our operating profitability margin (Adjusted EBITDA) in Europe will reach about 25%, in line with our Vision 2025 goal. At Group level, we expect the margin to increase to around 24%, as forecasted.

Hamburg, Germany – November 6, 2025

Fielmann Group AG

The Management Board