As the year draws to a close despite all the unrest, it is time to take a look back at the year’s events. In the shadow of the big players, the smaller companies have achieved some impressive results. This includes the optician Fielmann, which many had written off. If you had invested in the company since the first of January, you have earned more than 30% already. Is there more to come? The chances are certainly there.

Fielmann: Good Results Recently, Fielmann published their results for the third quarter. They were quite impressive. The turnover rose to 526.43 million euros in the third quarter, far surpassing the previous year’s turnover of 462.67 million euros.

The net profit was reported at 43.31 million euros. A year before, Fielmann earned 33.5 million euros net, resulting in a result that increased by more than 25%.

The first nine months looked good too. The net profit amounted to 114.92 million euros and significantly exceeded the previous year’s result of 91.46 million euros, i.e. by significantly more than 20%. Analysts on the markets also expect increasing turnover and better net results for the coming year. Roughly calculated, you can expect a return of nearly 10 % or even more than 15 % (for the results). The decisive question for you will be whether you can buy now if you are not yet invested.

Fielmann: Valuation is good, but not outstanding If the expectations for the coming year prove to be correct, you may be able to simply raise the bar. The share price rose in 2023 in line with the profits in the current year. If the profits in the coming year set the further pace, then the share should also increase by two digits.

It is not quite that simple. The average target price of analysts is currently around 51.70 euros. That would be a 7 % gain in the price. The dividend yield is just over 2 %. Accordingly, total return of almost 10 % (or even more than 15 %) can be expected. The gains in the coming year are not very strong.

I look at the development from a different perspective: The society is aging. Glasses and hearing aids will gain almost automatic more weight. Fielmann at least shows strength in the market so far, i.e. the company secures a decent market share. If this remains so, the profits will almost automatically flow. So pay attention to the market shares (e.g. also through various shops in the city centre for Christmas shopping), not (just) on the short-term profit figures.

Fielmann: Very well done – WKN: 577220 – ISIN: DE0005772206 Source: https://fundamental.aktienscreener.com/DE0005772206/EI/fielmann-group-ag/data