DGAP-News

Mister Spex SE: Mister Spex Mister Spex continues to grow in the first half year - Seite 2

 

Mirko Caspar, Co-CEO Mister Spex SE, explains: “Our existing Mister Spex stores showed significant double-digit growth on a like-for-like basis. In addition, we opened 12 new stores in H1 including two stores in Austria and one in Sweden, bringing the total to 60 company-owned retail stores across Europe at the end of the first half of 2022.” In H2, Mister Spex will continue its retail expansion in Germany and open its first store in Switzerland. To lift its data-driven omnichannel customer experience to the next level, Mister Spex acquired the remaining interest in the deep tech company Tribe GmbH in May 2022. Tribe offers tailor-made digital services based on 3D face recognition technology for measuring pupillary distance and fitting height, virtual fittings with true-to-scale views and frame adaptation, and individual recommendations.

 

Lean for Leverage performance programme to substantially improve profitability

Despite a further acceleration of revenue growth to double digits in the first months of Q3, Mister Spex previously expected even more. In addition, continuously deteriorating consumer sentiment and increasing postponement of prescription glasses purchases, an unfavourable product mix, and high inflation are some of the underlying risks for H2. In the face of these headwinds, Mister Spex adjusted its outlook for 2022 and expects 7% to 12% revenue growth with an adjusted EBITDA margin* of -6% to -3%. To substantially improve profitability in the short-term, the management team has established the Lean for Leverage (L4L) performance programme with three main pillars. First, Mister Spex will focus on its core markets to increase profitability through organic growth of its online business, like-for-like growth of retail stores, and increased retail productivity. Second, Mister Spex will further optimise price, mix and margin through a variety of measures including a focus on high-value customers, private label prescription glasses, and increased performance marketing. Third, Mister Spex will closely manage personnel costs, particularly overhead and other costs, to improve profitability and protect its solid cash position.