Silmäasema Oyj
Press Release
15 March 2018 at 11.30
Finnish Optical Retail Industry Report 2017: Silmäasema's market share increased, price competition intensified towards the end of the year
According to estimate and information gathered by Finnish Association of Vision and Eyecare (Näe ry), the Finnish optical retail market in 2017 grew by 1.5 per cent to EUR 324 million. The industry report, published by Näe ry today, says that Silmäasema chain's market share increased by 1.7 percentage points compared to the previous year and was 27.0 per cent. In terms of market share, Silmäasema is the second largest optical retail chain in Finland. Silmäasema chain has 14 eye clinics and more than 150 optical retail stores in Finland.
According to the industry report, the price competition in optical retail intensified during the last quarter of the year as the sales volume of eyeglasses increased by 8.6 per cent but the sales value decreased by one per cent. The sales value of the optical retail industry as a whole decreased by 1.7 per cent in the last quarter of 2017. Näe ry commented that the overall development in 2017 was good and the confidence for future sales development is at good level almost in all product groups.
"Silmäasema has already earlier stated in its financial reporting, that the competition in optical retail was tense in the last quarter of 2017. The figures in the report by Näe ry confirm this development for the whole industry. We share the view by Näe ry that the industry has good conditions for positive sales development in the future. However, there will be seasonal variation like we have seen before", commented Silmäasema's CEO Pasi Kohmo.
According to the estimate and information gathered by Näe ry, the overall market size of vision and eye healthcare in Finland in 2017 was about EUR 542 million. The share of optical retail was about EUR 324 million and the share of eye healthcare services about EUR 218 million.
More information on Näe ry's website https://www.naery.fi/in-english/
Further information:
Head of Communications and Investor Relations, Tuukka Hirvonen, tel. +358 50 416 7700, tuukka.hirvonen(a)silmaasema.fi
SILMÄASEMA OYJ
Communications
Silmäasema is a Finnish company, which offers all products and services for optical retail and eye healthcare nationwide. Silmäasema is the largest private eye clinic provider offering eye surgeries and the second largest optical retail chain in Finland. The Silmäasema chain has 14 eye clinics and more than 150 stores in Finland as well as ten stores in Estonia. The Silmäasema chain employs close to 1,000 eye healthcare professionals. Silmäasema Group's net sales were EUR 118.3 million in 2017 and adjusted EBITDA was EUR 11.8 million.