Fielmann: Press releases

First six months: sales up 7.8 per cent, profit up 43.7 per cent
Full year: 500 additional jobs
2008: 12,000 employees, 2,000 trainees

The first six months of 2008 confirmed our expectations. External sales including VAT rose by 7.8 per cent to 532.3 million, with consolidated sales up 8.2 per cent to 451.2 million. Pre-tax profit rose by 43.7 per cent to 80.2 million and profit after tax increased by 67.4 per cent to 56.2 million. The result for the first half year was positively impacted by the corporation tax reforms, with the rate of tax reduced from 39.8 per cent to 29.9 per cent.

In the second quarter, the company recorded external sales totalling 273.4 million (previous year: 250.6 million; + 9.1 per cent) and consolidated sales amounting to 232.9 million (previous year: 213.2 million; + 9.2 per cent). Fielmann increased its pre-tax profit to 41.5 million (previous year: 26.5 million) and its profit after tax for the year to 29.1 million (previous year: 15.9 million). The pleasing growth in profit is attributable to the expansion, an increase in sales of the high-valued varifocals, optimization of productivity and lower advertising costs than in the previous year.

At the end of the first six months of the year, Fielmann had 607 branches, a staff complement of 11,841 employees, of which 1,829 were trainees. With a 5 per cent market share of German opticians, 29 per cent of the total trainees of the industry are trained by Fielmann. This year, more than 750 young people will begin their training at Fielmann.

Fielmann is anticipating an increase in sales and profits for 2008, with external sales advancing to more than 1 billion. Taking into account the extraordinary effect of back-payments from health insurances, we expect a marked double-digit increase in our results. By the end of the year, Fielmann will have created more than 500 additional jobs, bringing the staff complement up to over 12,000 employees, 2,000 of which will be trainees.

Hamburg, August 2008

Fielmann Aktiengesellschaft
The Management Board

For more information, contact:
Dr. Matthias Branahl, Head of Press and Public Relations, tel.:+49 (0)40 270 76 - 457
Ulrich Brockmann, Head of Investor Relations, tel.: +49 (0)40 270 76 - 442

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