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Sunglasses and contact lenses drive revenue growth at Mister Spex

By Prachi Singh

Nov 24, 2021

Report

Image: Mister Spex media gallery

Europe’s digitally-driven omnichannel optician, Mister Spex SE posted 11 percent growth driven by sunglasses revenues increase of 13 percent and contact lenses sales increase of 12 percent. However, the company said, revenues from prescription glasses remained below expectations, with an increase of 7 percent. Compared to the third quarter of 2019, Mister Spex grew by 35 percent.

Commenting on the company’s performance, Sebastian Dehnen, chief financial officer and member of the management board of Mister Spex SE, said: “Even in a quarter where we grow below our own expectations, we continue to significantly gain market share on a two-year stack underlying the success of our high growth business model.”

In the third quarter of 2021, adjusted EBITDA declined to 0.3 million euros. The number of active customers increased by 14 percent to 1.7 million. In order to further roll out the omnichannel business model four new stores were opened in the third quarter of 2021 – three in Germany and one in Austria. By the end of the year, Mister Spex will have a retail network of 48 stores across Europe.

The company added that business in Sweden was further strengthened by the new managing director Pontus Lindbom, who started on October 1, 2021. With many years of international experience in leadership positions at customer-oriented multi-channel brands like Ikea and Daniel Wellington AB, Lindbom will not only expand the local retail business, but also further drive growth in the Swedish, Norwegian and Finnish online markets.

For the full year, the company’s management board confirms the adjusted guidance from early November of an adjusted EBITDA between 4 million euros and 5 million euros and a revenue increase of 17 percent to 19 percent in the financial year 2021. The adjusted guidance corresponds to a revenue increase of 38 percent to 40 percent versus the financial year 2019.