DGAP-News

Mister Spex SE: Mister Spex Mister Spex continues to grow in the first half year

DGAP-News: Mister Spex SE / Key word(s): Half Year Report Mister Spex SE: Mister Spex Mister Spex continues to grow in the first half year 07.09.2022 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Berlin, 7 September 2022

 

Mister Spex continues to gain market share in the first half of 2022 with accelerating growth in Q2

• Revenue growth of 8% year-on-year to EUR 108 million with acceleration in Q2
• Adjustment of company forecast necessary due to challenging market conditions - Confidence in strategy and financial targets remains
• Implementation of “Lean for Leverage” performance programme to substantially improve profitability in the short-term

 

Mister Spex SE (MRX), Europe’s leading digitally-driven omnichannel optician, continued its growth in the first half of 2022. Revenues increased by 8% year-on-year (“YoY”) to EUR 108 million (H1 2021: EUR 101 million) despite the very challenging market environment. Growth occurred in both business segments, with revenues increasing by 9% YoY in Germany and by 5% YoY in the international markets. Overall growth was driven by sunglasses and contact lenses, which both grew by double-digits due to increased travel activities, favourable weather, and the return to the office. While external conditions have continuously worsened due to the ongoing effects of the COVID-pandemic and the war in Ukraine in combination with high inflation, revenue growth accelerated in Q2 compared to Q1 with Mister Spex in Germany returning to double-digit growth.

 

Mister Spex has delivered on its strategy despite the market headwinds

The market conditions remain challenging: The GfK Consumer Climate Index reached a historic low at the end of the first half of the year with a clearly negative outlook for the third quarter. Consumer uncertainty is expected to result in decreasing demand for ophthalmic services. Mister Spex has nevertheless delivered on its strategy of sustainable retail growth and strategic investments in innovation.