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Mister Spex posts H1 revenue growth of 25 percent

By Prachi Singh

22 Sep 2021


Image: Mister Spex media gallery

Europe’s leading digital-driven omni-channel optician, Mister Spex SE reported revenue growth of 25 percent to 101 million euros for the first half period. The company said in a release that growth occurred in both business segments with revenues up 26 percent in Germany and 24 percent in the international markets.

From a product category perspective, the sunglasses segment posted a revenue increase of 38 percent, while prescription glasses revenues increased by 32 percent.

The gross profit margin expanded by 210 basis points to 49.4 percent and at around 2.3 million euros, adjusted EBITDA increased slightly by 1 percent compared to the first half of 2020.

Commenting on the first of trading, Dirk Graber, founder and co-CEO of Mister Spex SE, said: “Our fully digitalised and data-driven omnichannel business model allows us to respond individually to the needs of our customers and shows its resistance in a time of high uncertainties and Covid-19-related social distancing measures.”

The company added that the share of active customers increased by 15 percent to around 1.7 million in the first half of the year and the number of orders rose by 18 percent to around 1.2 million in the same period.

On July 2, 2021, Mister Spex got listed on the Frankfurt Stock Exchange. In addition to its online business, Mister Spex has also expanded its brick-and-mortar retail business by adding eight stores in the first half of 2021 bringing the total store network to 42 own retail stores across Europe. The openings included two stores in Stockholm and one in Vienna. A second store in Vienna is opening today.

For the current financial year, Mister Spex expects sales growth in the moderate double-digit percentage range and an increase in absolute adjusted EBITDA compared to the prior year.