Mister Spex Reports Growth and Sets Eyes on Sustainable Future

Mister Spex SE, a leader in the omnichannel optician sector, has reported a 6% increase in net revenue for 2023, achieving €224 million compared to €210 million the previous year. This growth comes amidst a challenging market environment, characterized by low consumer sentiment and modest growth within the eyewear industry. Despite these conditions, Mister Spex has successfully executed its "Lean 4 Leverage" measures, leading to significant improvements across the board.

The company’s strategic efforts have resulted in a 10% growth in prescription glasses sales, complemented by a 13% increase in sunglasses demand. Moreover, Mister Spex has managed to boost its gross margin to 50.6%, a year-on-year increase of 212 basis points, attributable to a mix of decreased discounts, a positive product mix, and price increases. Additionally, the rigorous implementation of cost management strategies amid high inflation has favorably impacted its financial performance, with adjusted EBITDA reaching €0.9 million, an approximate €9 million improvement from the previous year.

Looking forward, Mister Spex is poised for continued growth in 2024 by expanding its product and service offerings and targeting a broader customer base both online and in physical stores. The company conservatively forecasts net revenue growth in the low to mid-single digit percentage range and anticipates a positive adjusted EBITDA margin. With plans to open up to five new stores and leverage artificial intelligence for operational efficiencies, Mister Spex embarks on the next chapter of sustainable growth, aiming to enrich the customer experience and secure accelerated growth in the forthcoming years.