Fielmann Slumps After Earnings Miss Estimates: Frankfurt Mover
Fielmann shares sank as much as 8.75 percent to 72.50 euros, the biggest intraday drop since November 2008, and traded 7.5 percent lower as of 8:22 a.m. The Hamburg, Germany-based company reported net income of 124 million euros for 2011, missing the 132.7 million-euro average estimate of 11 analysts surveyed by Bloomberg.
“Earnings figures are a clear disappointment,” Holger Schwesig, analyst at DZ Bank AG in Frankfurt, wrote in a report today. “Peak prices of 80 euros are not justified any longer.”
Fielmann said consolidated sales in 2011 were 1.05 billion euros, below the 1.06 billion-euro average estimate of 19 analysts surveyed by Bloomberg.
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