Fielmann Group AG updates guidance for the 2026 financial year amid continued consumer uncertainty in Germany

Hamburg, August 20, 2026

Continued uncertainty surrounding Germany’s economic recovery is weighing on household purchasing power and consumer confidence, with relevant consumer climate indicators remaining at low levels. This is particularly relevant for the Fielmann Group as Germany, its largest market, accounts for around 60% of the Group’s sales. Against this backdrop, the Management Board of Fielmann Group AG (FIE) today has decided to adjust its guidance for the current financial year. The Fielmann Group now expects total consolidated sales of €2.50bn to €2.55bn for the 2026 financial year (previously: €2.55bn to €2.60bn). This corresponds to a year-on-year sales growth of 2% to 5% (previously: 5% to 7%).

The impact of lower sales momentum on profitability is expected to be largely mitigated by the Group’s improved cost base and ongoing cost discipline. While the Group’s underlying earnings potential remains unchanged, the Management Board considers it prudent to reflect the current uncertainty around consumer demand in a wider profitability guidance range. The Adjusted EBITDA margin is now expected at 22% to 23%, compared with the previous expectation of around 23%. This corresponds to an Adjusted EBITDA expectation of €560m to €580m (previously: €590m to €610m).

Adjusted EBT margin is expected to be around 12% (previously: 12% to 13%), with Adjusted EBT developing in line with the revised margin outlook.

The Fielmann Group continues to grow, and its international markets provide an increasing contribution that demonstrates the benefits of a geographically diversified business model. As already witnessed in Q2, the Management Board expects sales growth to further accelerate in HY2/2026 compared to HY1/2026, driven by increased expansion, additional staff capacity, and productivity gains. The Group’s long-term growth drivers remain intact, underpinned by favorable demographic trends and the increasing prevalence of myopia among the younger generation.

The 2026 Half-Year Financial Report will be published as scheduled on August 27, 2026.

Contact
Nils Scharwaechter, Director Investor Relations
email: investorrelations@fielmann.com
mobile: +49 172 4250348

For more information, please visit www.fielmann-group.com. Fielmann uses Alternative Performance Measures (APM) in its regulatory and mandatory publications that may represent so-called non-GAAP-measures. An overview of these Alternative Performance Measures can be found at Annual Report 2025 (definitions on page 29).