Ad-hoc | 28 April 2005 08:09

Fielmann AG : Annual Accounts 2004 and Preliminary figures for Q 1/2005

Ad hoc announcement §15 WpHG Annual Accounts 2004 and Preliminary figures for Q 1/2005 Fielmann AG : Annual Accounts 2004 and Preliminary figures for Q 1/2005 Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— 2004 was a year of recession for the optical industry, during which the sector experienced a sales decrease of 31% compared to the previous year. Fielmann performed noticeably better than the overall industry and was able to strengthen its position in the aftermath of the structural reform. The company also increased its market shares. With 5% of all opticians shops (Fielmann 463 branches, total industry 9,900 shops), Fielmann achieved a market share in Germany of 53% in terms of unit sales (previous year: 50%) and a 28% market share in terms of sales volumes (previous year: 27%). Fielmann achieved the second best earnings level in the history of the company during the worst recession year for the German optical industry. The Supervisory Board of Fielmann AG ascertained the annual accounts of the Group and the Aktiengesellschaft in its recent meeting. The key data is in accordance with the ad-hoc release as of February 24, 2005. The Annual Report is available in the Internet. Fielmanns Supervisory Board and Management Board will recommend an unchanged dividend of EUR 1.60 per share at the Annual General Meeting being held on July 7, 2005. Unit sales for new orders in the first quarter 2005 were 33% above the level of 2004, whereas a growth of 37% was achieved in April. Since the market introduction of the glasses for free insurance of Fielmann and HanseMerkur, the company has closed more than 600,000 insurance agreements. According to preliminary IFRS calculations, Fielmann generated consolidated sales of EUR 169 million (previous year: EUR 194.9 million) in the first quarter 2005. The previous year was impacted by the significant order backlog from the boom in 2003, in terms of unit sales, sales and earnings. The quarterly earnings 2005 also included additional sales promotion activities for the launch of the glasses for free insurance of more than EUR 20 million. Nevertheless, pre-tax earnings will reach around EUR 10 million (previous year: EUR 26.4 million) which is in line with the plan. In the following quarters, earnings will be a multiple of the level in the first quarter, as we will be able to cut sales promotion activities by more than 50%. At the same time, unit sales and sales will rise. Through the end of the year, Fielmann will create a total of 300 new jobs and establish 15 new branches, as the market leader aims at offering its customers the usual service at increasing demand. The complete figures for the first quarter will be published on May 30, 2005 in accordance with IFRS for the first time. FIELMANN AG Weidestrasse 118 a 22083 Hamburg Deutschland ISIN: DE0005772206 (MDAX) WKN: 577220 Listed: Amtlicher Markt in Düsseldorf, Frankfurt (Prime Standard) und Hamburg; Geregelter Markt in Berlin-Bremen, Hannover, München und Stuttgart End of ad hoc announcement (c)DGAP 28.04.2005 Issuer’s information/explanatory remarks concerning this ad hoc announcement: Fielmann has strengthened its position in the aftermath of the structural reform 2004: With 5 percent of all opticians shops, unit sales reached a market share of 53 percent Despite the recession of the sector, second best earnings in the companys history 2005: Rise of 33 percent in new orders in the first quarter, 37 percent increase in April Fielmann plans to establish 15 new branches and creates 300 additional new jobs 2004 was a year of recession for the optical industry, during which the sector experienced a sales decrease of 31 percent compared to the previous year. Fielmann performed noticeably better than the overall industry and was able to strengthen its position in the aftermath of the structural reform. The company also increased its market shares. With 5% of all opticians shops (Fielmann 463 branches, total industry 9,900 shops), Fielmann achieved a market share in Germany of 53 percent in terms of unit sales and a 28 percent market share in terms of sales volumes. Fielmann achieved the second best earnings level in the history of the company during the worst recession year for the German optical industry. The Supervisory Board of Fielmann AG ascertained the annual accounts of the Group and the Aktiengesellschaft in its recent meeting. The market leader reached external sales of EUR 764 million and consolidated sales of EUR 642 million. The pre-tax profit amounted to EUR 72.0 million and net income was EUR 44.3 million. In 2004 net income in German-speaking neighbouring countries increased by 53 percent. Fielmanns Supervisory Board and Management Board will recommend an unchanged dividend of EUR 1.60 per share at the Annual General Meeting being held on July 7, 2005. Unit sales for new orders in the first quarter 2005 were 33% above the level of 2004, in April a growth of 37 percent was achieved. This above-average unit sales increase was due to a new customer-friendly service: the glasses for free insurance of Fielmann and HanseMerkur. Since its market launch, we have closed more than 600,000 insurance agreements. Although we invested more than EUR 20 million in the introduction of this new product in the first quarter, we expect quarterly earnings of ca. EUR 10 million which is in line with the plan. In the following quarters, earnings will be a multiple of the level in the first quarter, as we will be able to cut sales promotion activities by more than 50%. At the same time, unit sales and sales will increase. Through the end of the year, Fielmann will create a total of 300 new jobs and establish 15 new branches, as the market leader aims at offering its customers the usual service at increasing demand. For 2005, we plan to increase our European market shares, achieve a double- digit growth in unit sales, and an appropriate earnings improvement. Hamburg, April 2005 Fielmann Aktiengesellschaft The Management Board For further information contact: Ulrich Brockmann, Head of Investor Relations Fielmann AG, Weidestrasse 118 a, D-22083 Hamburg, Tel: +49 40 / 270 76 442 End of message (c)DGAP 280809 Apr 05