Slides
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Results: 9M/2026 Earnings Call November 5, 2026
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2 Earnings Call 9M and Q3/2026 Disclaimer This presentation has been prepared by Fielmann Group AG ("Fielmann") and comprises the written materials/slides for a presentation concerning Fielmann. By attending this presentation and/or reviewing the slides you agree to be bound by the following conditions: The distribution of this document in certain jurisdictions may be restricted by law and persons into whose possession this document comes should inform themselves about, and observe, any such restrictions. This presentation is for information purposes only and the information contained herein (unless otherwise indicated) has been provided by Fielmann. It does not constitute or form part of, and should not be construed as, an offer to sell or the solicitation, inducement or an offer to buy shares in Fielmann or any other securities. Further, it does not constitute a recommendation by Fielmann or any other party to sell or buy shares in Fielmann or any other securities and should not be treated as investment, legal, accounting, regulatory, taxation or other advice. This presentation has been prepared without reference to any particular investment objectives, financial situation, taxation position and particular needs. The information contained in this presentation has not been independently verified, and no representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information contained herein and no reliance should be placed on it. To the extent permitted by applicable law, none of Fielmann or any of its affiliates, advisers, connected persons or any other person accept any liability for any loss howsoever arising (in negligence or otherwise), directly or indirectly, from this presentation or its contents or otherwise arising in connection with this presentation. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein. This presentation contains forward-looking statements that are subject to risks and uncertainties. Statements contained herein that are not statements of historical fact may be deemed to be forward-looking information. When we use words such as "plan", "believe", "expect", "anticipate", "intend", "estimate", "may“, “should” or similar expressions, we are making forward-looking statements. You should not rely on forward-looking statements because they are subject to a number of assumptions concerning future events and are subject to a number of uncertainties and other factors, many of which are outside of Fielmann’s control, that could cause actual results to materially differ from those indicated. Any assumptions, views or opinions (including statements, projections, forecasts or other forward-looking statements) contained in this presentation represent the assumptions, views or opinions of Fielmann as of the date indicated and are subject to change without notice. Fielmann neither intends, nor assumes any obligation, unless required by law, to update or revise these assumptions, views or opinions in light of developments which differ from those anticipated. All information not separately sourced is from internal company data and estimates. Any data relating to past performance contained herein is no indication as to future performance. The information in this presentation is not intended to predict actual results, and no assurances are given with respect thereto. Percentages and figures in this presentation may include rounding differences. Throughout this presentation a range of financial and non-financial measures are used to assess Fielmann’s performance, including a number of financial measures that are not defined under IFRS, which are termed "Alternative Performance Measures" (“APMs”). Management uses these measures to monitor Fielmann's financial and non-financial performance alongside IFRS measures because they help illustrate the underlying financial performance and position of the Fielmann group. These APMs should be considered in addition to, and not as a substitute for, or as superior to, measures of financial performance, financial position or cash flows reported in accordance with IFRS. APMs are not uniformly defined by all companies, including those in the group’s industry. Accordingly, they may not be comparable with similarly titled measures and disclosures by other companies.
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9M/2026 3 Fußzeile auf allen Seiten gleich > Einfügen > Kopf- und Fußzeile
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4 Summary – 9M and Q3/2026 in a nutshell Improved growth dynamic in Q3 - Continued international expansion and regained growth in Germany Fielmann Group accelerated growth in Q3/2026 thanks to price leadership and capacity investments enabling to serve more customers. 9M/2026 Group sales increased by 3.2% at constant currency (2.5% organic; 0.7% M&A). Growth further accelerated to 4.9% at constant currency in Q3. The Group’s 9M/2026 Adjusted EBITDA margin at 23.4% (PY: 23.7%), impacted by continued investments in capacity and future growth. Adjusted EBT margin stable at 12.9% (PY: 13.0%). Expansion pace continued with 19 new locations opened in Q3/2026, bringing net total openings to 56 in 9M/2026 (FY2025: 22). Full-year guidance confirmed. Following the stronger Q3 performance, the Group is well positioned to achieve its 2026 targets. Earnings Call 9M and Q3/2026
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5 Growth gained further momentum – strong profitability maintained Absolute figures in €m, margins in % of total consolidated sales, 9M, Fielmann Group Earnings Call 9M and Q3/2026 9M/24 9M/25 9M/26 1.689 1.844 1.897 +2,9% Organic +2.5% 18 20 22 24 26 28 30 200 300 250 350 400 450 500 550 21.9% 23.7% 9M/25 23.4% 9M/26 370 437 443 Total consolidated sales 8 10 12 14 16 18 20 100 200 150 250 300 350 11.8% 9M/24 13.0% 9M/25 12.9% 9M/26 199 240 245 Adjusted EBT and margin Adjusted EBITDA and margin +3.2% at constant currency 9M/24
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Acceleration across all product categories in Q3 6 ▪ Core business regains momentum Prescription eyewear returns to a stronger growth trajectory, providing a solid foundation for the Group’s continued expansion. ▪ Strong growth beyond eyewear Audiology turning into a stronger growth driver. Adjacent healthcare services adding further momentum. ▪ Momentum builds across portfolio Sunglasses continued strong growth, while contact lenses returned to positive territory. Earnings Call 9M and Q3/2026 3% 11% 8% -2% 7% Prescription eyewear Audiology Adjacent healthcare services Contact lenses Sunglasses (excl. RX) 9M and Q3/2026 sales compared to PY, Fielmann Group 4% 16% 11% 3% 9% Q3 9M
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Growth across all our major markets 7 Earnings Call 9M and Q3/2026 3% 2% 3% 7% 4% 2% 13% others 9M/2026 external sales compared to PY, Fielmann Group ▪ Growth in all segments despite mixed market environments. ▪ Germany regains growth: Price leadership and capacity investments drive a stronger Q3 performance. ▪ Continued growth path across Europe: Switzerland and Austria accelerate, while Spain’s growth temporarily moderates due to rebranding. ▪ Encouraging US pilot store results: Volume growth is expected to outweigh lower average order values and lift margins over the medium term. at constant currency 5% 4% 1% 7% 6% 3% 18% Q3 9M
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Stable European margins underpin Group profitability as capacity and network expansion continue Network expansion, growth acceleration and strong profitability 2026 2025 Δ # of stores 1.318 1.257 +61 stores Total Consolidated Sales €1,897m €1,844m +2.9% Adj. EBITDA €443m €437m +1.5% Adj. EBITDA margin 23.4% 23.7% -0.3%pt. Adj. EBT €245m €240m +1.9% Adj. EBT margin 12.9% 13.0% -0.1%pt. 24.9% 10.9% 24.9% 13.9% +3.2% 8 Earnings Call 9M and Q3/2026
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Outlook 2026: Capital market guidance Expected Development of Our Key Steering Parameters 9 Total Consolidated Sales Adjusted EBITDA Adjusted EBT margin 2026e €2.50bn to €2.55bn €560m to €580m Around 12% Acceleration of sales growth (+2 to +5% YoY growth) Customer Satisfaction Around 90% Our key success factor, customer satisfaction, remains at a very high level Comments Adjusted EBITDA margin Between 22% and 23% Earnings primarily impacted by lowered sales guidance. Earnings Call 9M and Q3/2026 Confirmed
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Expansion pace is expected to more than triple 10 22 2024 2025 2026 70 56 14 Actual Plan Q4/26e 9M/26 New stores as a proven and reliable source of further growth. Well on track to deliver 70 new stores in 2026 10 Earnings Call 9M and Q3/2026
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Q&A