Mister Spex FY22 revenues increase by 8 percent
For the full year, revenues at Mister Spex SE increased by 8 percent to 210 million euros compared to the previous year and within the guidance range of 7 percent to 12 percent growth.
The company said in a release that the growth was driven by strong growth across all categories, with particularly strong development in sunglasses and prescription glasses. The core market, Germany has been the key driver behind strong revenue growth in 2022.
With a revenue of 153 million euros in Germany or 11 percent growth, Mister Spex said that this growth was supported by strong like-for-like sales of 20 percent in 2022 and by 16 new store openings in Germany.
Commenting on the company’s performance in 20233, Dirk Graber, founder and Co-CEO of Mister Spex SE said: “The market environment last year was not easy, and I am therefore very happy that we have managed to grow further in Germany thanks to our attractive range of products and services. This is why we expect continuing revenue growth for the coming year too.”
Adjusted EBITDA margin reached the upper half of the adjusted outlook of negative 6 percent to negative 3 percent, with negative 4 percent or negative 8.3 million euros in 2022.
Among the product categories, the company added that sunglasses was the fastest growing product category with a 19 percent increase in revenue. Prescription glasses increased by 5 percent, benefiting from accelerated growth of 9 percent in the second half of the year. Contact lens revenue increased by 5 percent, supported from stronger development in the first half of the year.
For fiscal year 2023, management expects revenue growth in the mid to high single-digit percentage range and the expansion of the store network by around 10 stores. The management board expects a positive adjusted EBITDA margin in the low single-digit percentage range for the 2023 financial year compared to negative 4 percent in 2022.