DGAP-News

Mister Spex SE grows strongly by 25 percent in the first half of 2021

DGAP-News: Mister Spex SE / Key word(s): Half Year Results Mister Spex SE grows strongly by 25 percent in the first half of 2021 22.09.2021 / 07:30 The issuer is solely responsible for the content of this announcement. Berlin, 22 September 2021

Mister Spex SE grows strongly by 25 percent in the first half of 2021

• Revenue growth of 25% to 101 million euros driven by solid growth in both segments the German market +26% and International Markets +24%
• Revenues with prescription glasses increased 32% in line with the strategic focus
• Adjusted EBITDA¹ increased slightly by 1% to EUR 2.3 million reflecting focus on growth
• Number of active customers increased by 15% to 1.7 million

Mister Spex SE (MRX), Europe's leading digital-driven omnichannel optician, continued to grow strongly in the first half of 2021. Despite the effects of the pandemic, revenues grew by 25% to €101 million (H1 2020: €80 million). Growth occurred in both business segments with revenues up 26% in Germany and International Markets growth of 24%. From a product category perspective, sunglasses were the strongest performing category with a revenue increase of 38% benefitting from easing social distancing measures and increased travel activity. In line with the strategic focus on prescription glasses, revenues increased by 32%. The higher share of prescription glasses also had a positive impact on the gross profit margin² which expanded by 210 basis points to 49.4%.

At around 2.3 million euros, adjusted EBITDA¹ increases slightly by 1% compared to the first half of 2020 (2.3 million euros) driven by the sales growth of 25% and a gross margin expansion of 210 basis points, partially offset by higher marketing and personnel expenses.

While the development of the German brick-and-mortar retail business was affected by the impact of the Covid 19-related social distancing measures since the beginning of the year, the number of visitors in the stores increased again towards the end of the second quarter. The online demand was able to counteract the development well.