Sales rose for German eyewear firm Fielmann Group AG in the first quarter compared to the same period of the previous year.
Fielmann reported on Tuesday that first quarter group sales rose by 11% to €529 million ($566 million) from €478 million last year.
While the company's US business added more than €30 million in sales during the first quarter, its European business grew 4% over the same quarter of 2023.
Germany reached a growth rate of 3% over last year, and Switzerland recorded sales growth of 4% over the same period of last year.
Austria improved 9% and Spain rose 10% over the same quarter of 2023. Poland - once again - stood out with 36% growth over last year.
Despite the slower topline dynamic in Europe, Fielmann Group's first quarter 2024 earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 11% to €117 million from the previous year's €106 million, while EBT improved by 7% to €62 million from €58 million reported in the prior year period.
For the full year 2024, the company said it expects to continue its strong topline growth at a similar pace as in 2023. "We are going to expand our bottom line with a proportional or slightly higher EBITDA increase as well as a slightly higher EBT margin," it said.