EQS-News

Mister Spex outperforms the market in the third quarter with 18% revenue growth and continues the execution of “Lean 4 Leverage” efficiency program

EQS-News: Mister Spex SE / Key word(s): Quarterly / Interim Statement Mister Spex outperforms the market in the third quarter with 18% revenue growth and continues the execution of “Lean 4 Leverage” efficiency program  10.11.2022 / 07:30 CET/CEST The issuer is solely responsible for the content of this announcement. Berlin, 10 November 2022

Mister Spex outperforms the market in the third quarter with 18% revenue growth and continues the execution of “Lean 4 Leverage” efficiency program 

• Strong revenue growth to 58 million euros
• The growth has been underpinned by strong brick-and-mortar sales of +13%[a]
• Accelerated growth of 16% in prescription glasses and 36% in sunglasses
• Mister Spex confirms the guidance for the fiscal year 2022

Despite a volatile environment and declining consumer confidence in Germany, Mister Spex SE (MRX), Europe's leading digitally-driven omnichannel optician, increased its revenue by 18% to 58 million euros in the third quarter of 2022 (Q3 2021: 49 million euros). Mister Spex continues to benefit from its omnichannel model with continuously strong growth in sunglasses and prescription glasses which grew by 36% and 16% respectively. Third quarter 2022 marks an accelerated development from second quarter of 2022, where sales from sunglasses increased by 11% and prescription glasses grew by 2%. Based on GfK market data, the optical market declined by 11% in July and August[b], while Mister Spex grew by 19% within the same time period. This shows that Mister Spex has once again clearly outperformed the market.

Strong growth in core market despite challenging environment

Revenue in Germany increased by 22% compared to the previous year. Growth is supported by the recovery of the physical retail stores, which grew by 13% in the like-for-like period^a.  Mister Spex continued to expand its store footprint with four new store openings in the third quarter of 2022.

Dirk Graber, founder and Co-CEO of Mister Spex, says: “We continue to witness complicated geopolitical and macroeconomic environment which as a result impacts consumer sentiment. This makes it very hard to assess the effects on consumption for our product categories. Nonetheless, we continue to benefit from high brand awareness and always seamless customer experience with our omnichannel model which allows us to continue gaining new customers and growing our average order value.”