DGAP-News

Mister Spex SE continues its omnichannel success story and achieves 18% revenue growth in 2021 - Seite 2

Adjusted EBITDA¹ declined 39% to EUR 4.1 million compared to the prior year. Adjusted EBITDA in the Germany segment in 2021 was on a comparable level to 2020. At -EUR 3.4 million, adjusted EBITDA in the International segment was below the level in 2020. Both segments have seen an increase in marketing expenses due to investments in brand building and ramp up costs related to new store openings.

The number of active customers² increased by 12% to 1.7 million in the fiscal year 2021 compared to 2020 (1.5 million). This result reflects the customer-centric omnichannel business model of Mister Spex, which is characterized by a high level of customer satisfaction and a repurchase intention that surpasses that of traditional opticians^[a]. The number of orders³ also increased by 14% year on year. Due to a favorable product mix in the past 12 months, with an increased proportion of sunglasses and prescription glasses, the average order value⁴ increased by 3% over this period.

Dirk Graber, founder and Co-CEO of Mister Spex SE says: "We are convinced that our leading position as a digital omnichannel optician will enable us to continue our growth and become one of the leading players in the overall optician market. An important factor for the further expansion of our omnichannel offer will be the opening of additional stores to build up a comprehensive network in brick-and-mortar retail as well. In addition to the markets in which we currently have a store presence, we are also examining the potential for further market entries for our store concept. Thanks to our seamless omnichannel approach, the broad product range on the market and a leading price-value proposition, we want to continue to grow faster than the market in 2022 and continuously expand our customer base."

For fiscal year 2022, management expects moderate double-digit revenue growth that will be slightly higher than the growth rate of 18% in the prior year. The expansion of the store network by around 20 stores, a slight increase in the number of orders, a slight increase in the average order value and a slight increase in active customers should contribute to revenue growth.

Management expects an increase in adjusted EBITDA compared to EUR 4.1 million in 2021. Higher marketing expenditure to strengthen brand awareness especially in international markets and to increase customer traffic in the stores as well as, among other factors, increasing personnel expenses due to business expansion will lead to increasing operating expenses.