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08.05.2024 07:35:33 - dpa-AFX: EQS-News: In Q1 2024, Mister Spex reports 2% revenue growth for the Group and 5% for Germany (english)
In Q1 2024, Mister Spex reports 2% revenue growth for the Group and 5% for
Germany
EQS-News: Mister Spex SE / Key word(s): Quarter Results/Forecast
In Q1 2024, Mister Spex reports 2% revenue growth for the Group and 5% for
Germany
08.05.2024 / 07:35 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Berlin, 8 May 2024
In Q1 2024, Mister Spex reports 2% revenue growth for the Group and 5% for
Germany
* Mister Spex reconfirms guidance for 2024
Mister Spex SE (MRX), Europe's leading digitally-driven omnichannel
optician, has reported a 2% growth for the Group, achieving sales of EUR51.1
million in the first quarter of 2024. According to the monthly GfK
('Gesellschaft für Konsumgüterforschung') Consumer Sentiment Index,
improvement continues at a slow pace in Q1 2024; however, it remains
subdued.
Calendar and weather impact key category development in the first quarter of
2024
The development in the key product categories was impacted by an earlier
Easter, which negatively affected the number of working days and, therefore,
the production of prescription glasses. Prescription glasses sales have
consequently experienced a negative development in March, following 4%
growth in the first two months of the year, resulting in -1% for the
quarter. Sunglasses had an accelerated growth from last year, generating 9%
growth in the first quarter, with double-digit growth in February and March.
The acceleration in sunglasses in the first quarter of 2024 was particularly
due to good weather conditions and earlier Easter holidays, which positively
impacted consumer demand for outdoor activities and products. The contact
lens category recorded 2% growth, rebounding from 11% decline in the first
quarter 2023.
The segment reporting was impacted by calendar effects and declining
business in the International segment
Germany posted a 5% growth in the first quarter. The first two months of the
year saw robust single-digit growth. However, this momentum was dampened by
the earlier Easter, resulting in fewer working days and declining sales in
prescription glasses in March. As a result, revenues in Germany increased in
total by 5% against a first quarter in 2023, fuelled by 11% growth in
sunglasses, 14% growth in contact lenses, and flat sales in prescription
glasses.
The revenue in the International segment declined by 8%, predominantly
driven by the Scandinavian entities, Switzerland, and the UK, which could
only be partially compensated by positive development in the Netherlands.
From a category perspective, the performance in the first quarter was almost
fully driven by lower contact lenses revenues, which constitute
approximately 41% of the total revenue for the segment.
Profitability remains at the previous year's level
The adjusted EBITDA has remained roughly flat year-on-year at -3.2% of
revenues in the first quarter of 2024. While the gross profit margin has
declined due to a lower contribution from prescription glasses in the
overall mix, the operating cost profile has improved in the first quarter of
2024. Personnel expenses, adjusted for non-cash IFRS2 adjustments, have
improved by 5% year-on-year. This improvement is especially noteworthy given
there were 4 additional stores this quarter.
FY 2024 Guidance is confirmed
In 2024, Mister Spex will focus its efforts on improving the store operating
model of the existing store portfolio and the rollout of company's
innovative and unique Mister Spex EyeD Technology. Dirk Graber, CEO of
Mister Spex SE, stated, 'While the first quarter of 2024 presented
challenges, we are excited by what lies ahead. In 2024 we will create more
value for our customers by expanding the existing assortment and offering
additional services both online and offline.'
Mister Spex reiterates its outlook for fiscal year 2024. Management expects
revenue growth in the low to mid-single-digit percentage range and a
positive adjusted EBITDA margin in the low single-digit percentage range.
The quarterly report and further information for analysts and investors are
available on the Mister Spex Investor Relations website. The results for the
first half-year 2024 will be published on August 29th 2024.
Q1 Q1 Cha- Q1 Q1 Cha- 2024 2023 nge 2024 2023 nge Revenue 51,115 50,099 2% Active 1,747 1,716 2%
Revenue DE 39,499 37,525 5% Number of 521 519 0%
Revenue INT 11,616 12,574 -8% Average Order 96.8 92.4 5%
Revenue by product category and segment.
1) Management defines gross profit as revenue less cost of materials and
gross profit margin as the ratio of gross profit to revenue.
2) Adjusted EBITDA, defined as earnings before interest, taxes, depreciation
and amortisation, adjusted for share-based payment expenses according to
IFRS 2, one-off transformation costs and other one-off effects that are not
part of the regular course of business.
3) Customers who ordered in the last twelve months excluding cancellations.
4) Orders after cancellations and after returns.
5) Calculated as revenues divided by number of orders after cancellation and
after returns, over the last twelve months.
About Mister Spex SE:
Founded in 2007, Mister Spex SE (together with its subsidiaries, 'Mister
Spex') is a multi-award-winning company that has become the leading
digitally-driven omnichannel optician in Europe. Mister Spex has been at the
forefront of the industry's transformational shift, growing from a pure
online player into a successful omnichannel optician with more than 6.6
million customers and 10 online shops across Europe, as well as
brick-and-mortar retail stores. As a digital native, technology and
innovation have always been integral parts of the company's evolution, from
2D to 3D digital frame fitting tools to intelligent browsing features.
Mister Spex focusses on making purchasing glasses a shopping experience that
is simple, transparent and, at the same time, fun for customers - offering a
comprehensive and diverse range of high-quality products in combination with
extensive expertise in optics and advice from the customer service team, its
own branches and an extensive network of partner opticians.
Investor Relations:
Irina Zhurba I Head of Investor Relations I irina.zhurba@misterspex.de
Mister Spex SE
Hermann-Blankenstein-Straße 24
10249 Berlin
Website: www.misterspex.de
Corporate Website: https://corporate.misterspex.com
Disclaimer:
This publication contains forward-looking statements. These statements are
based on the current views, expectations and assumptions of the management
of Mister Spex SE and involve known and unknown risks and uncertainties that
could cause actual results, performance or events to differ materially from
those expressed or implied by such statements. Actual results, performance
or events may differ materially from those described herein as a result of
factors affecting Mister Spex, such as changes in general economic
conditions and the competitive environment, capital market risks, foreign
exchange rate fluctuations and competition from other companies, as well as
changes in international and national laws and regulations, particularly
with respect to tax laws and regulations. Mister Spex SE assumes no
obligation to update forward-looking statements.
This publication contains supplementary financial measures (not specifically
identified in relevant accounting frameworks) that are, or may be, so-called
alternative performance measures. For purposes of evaluating the financial
condition and results of operations of Mister Spex, these supplemental
financial measures should not be considered in isolation or as an
alternative to the financial measures presented in the consolidated
financial statements and determined in accordance with relevant accounting
frameworks. Other companies that present or report alternative performance
measures with a similar title may calculate them differently. Explanations
of financial ratios used can be found in the Annual Report 2022 of Mister
Spex, which is available at https://ir.misterspex.com/.
---------------------------------------------------------------------------
08.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
---------------------------------------------------------------------------
End of News EQS News Service
---------------------------------------------------------------------------
1898053 08.05.2024 CET/CEST
Germany
EQS-News: Mister Spex SE / Key word(s): Quarter Results/Forecast
In Q1 2024, Mister Spex reports 2% revenue growth for the Group and 5% for
Germany
08.05.2024 / 07:35 CET/CEST
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
Berlin, 8 May 2024
In Q1 2024, Mister Spex reports 2% revenue growth for the Group and 5% for
Germany
* Mister Spex achieved net sales of EUR51.1 million in the first quarter of
2024, marking a 2% growth year-on-year
* Consumer sentiment in Germany remains subdued, while the improvement
continues at a slow pace
* The earlier timing of Easter as well as warm weather, have impacted
performance in the key categories in the first quarter
* Mister Spex reconfirms guidance for 2024
Mister Spex SE (MRX), Europe's leading digitally-driven omnichannel
optician, has reported a 2% growth for the Group, achieving sales of EUR51.1
million in the first quarter of 2024. According to the monthly GfK
('Gesellschaft für Konsumgüterforschung') Consumer Sentiment Index,
improvement continues at a slow pace in Q1 2024; however, it remains
subdued.
Calendar and weather impact key category development in the first quarter of
2024
The development in the key product categories was impacted by an earlier
Easter, which negatively affected the number of working days and, therefore,
the production of prescription glasses. Prescription glasses sales have
consequently experienced a negative development in March, following 4%
growth in the first two months of the year, resulting in -1% for the
quarter. Sunglasses had an accelerated growth from last year, generating 9%
growth in the first quarter, with double-digit growth in February and March.
The acceleration in sunglasses in the first quarter of 2024 was particularly
due to good weather conditions and earlier Easter holidays, which positively
impacted consumer demand for outdoor activities and products. The contact
lens category recorded 2% growth, rebounding from 11% decline in the first
quarter 2023.
The segment reporting was impacted by calendar effects and declining
business in the International segment
Germany posted a 5% growth in the first quarter. The first two months of the
year saw robust single-digit growth. However, this momentum was dampened by
the earlier Easter, resulting in fewer working days and declining sales in
prescription glasses in March. As a result, revenues in Germany increased in
total by 5% against a first quarter in 2023, fuelled by 11% growth in
sunglasses, 14% growth in contact lenses, and flat sales in prescription
glasses.
The revenue in the International segment declined by 8%, predominantly
driven by the Scandinavian entities, Switzerland, and the UK, which could
only be partially compensated by positive development in the Netherlands.
From a category perspective, the performance in the first quarter was almost
fully driven by lower contact lenses revenues, which constitute
approximately 41% of the total revenue for the segment.
Profitability remains at the previous year's level
The adjusted EBITDA has remained roughly flat year-on-year at -3.2% of
revenues in the first quarter of 2024. While the gross profit margin has
declined due to a lower contribution from prescription glasses in the
overall mix, the operating cost profile has improved in the first quarter of
2024. Personnel expenses, adjusted for non-cash IFRS2 adjustments, have
improved by 5% year-on-year. This improvement is especially noteworthy given
there were 4 additional stores this quarter.
FY 2024 Guidance is confirmed
In 2024, Mister Spex will focus its efforts on improving the store operating
model of the existing store portfolio and the rollout of company's
innovative and unique Mister Spex EyeD Technology. Dirk Graber, CEO of
Mister Spex SE, stated, 'While the first quarter of 2024 presented
challenges, we are excited by what lies ahead. In 2024 we will create more
value for our customers by expanding the existing assortment and offering
additional services both online and offline.'
Mister Spex reiterates its outlook for fiscal year 2024. Management expects
revenue growth in the low to mid-single-digit percentage range and a
positive adjusted EBITDA margin in the low single-digit percentage range.
The quarterly report and further information for analysts and investors are
available on the Mister Spex Investor Relations website. The results for the
first half-year 2024 will be published on August 29th 2024.
Group Income Non-financial Statement in EUR k KPIs
Q1 Q1 Cha- Q1 Q1 Cha- 2024 2023 nge 2024 2023 nge Revenue 51,115 50,099 2% Active 1,747 1,716 2%
Customers3 (in
thousands)
Revenue DE 39,499 37,525 5% Number of 521 519 0%
Orders4 (in
thousands)
Revenue INT 11,616 12,574 -8% Average Order 96.8 92.4 5%
Value5 (in EUR) Gross profit1 26,582 26,860 -1% Gross profit 52.0% 53.6% -16- margin1 1bp Adjusted EBITDA2 -1,640 -1,637 0%
Revenue by product category and segment.
German- Internation- Total
y al
in EUR k Q1 Q1 Q1 2024 Q1 Q1 Q1
2024 2023 2023 2024 2023
Revenue
Prescription 21,126 21,119 3,346 3,576 24,472 24,696
glasses
Sunglasses 7,954 7,158 3,350 3,192 11,304 10,350
Contact lenses 9,544 8,402 4,749 5,646 14,293 14,048
Total products 38,625 36,679 11,445 12,415 50,070 49,094
Other services 874 846 171 159 1,045 1,006
Total 39,499 37,525 11,616 12,574 51,115 50,099
1) Management defines gross profit as revenue less cost of materials and
gross profit margin as the ratio of gross profit to revenue.
2) Adjusted EBITDA, defined as earnings before interest, taxes, depreciation
and amortisation, adjusted for share-based payment expenses according to
IFRS 2, one-off transformation costs and other one-off effects that are not
part of the regular course of business.
3) Customers who ordered in the last twelve months excluding cancellations.
4) Orders after cancellations and after returns.
5) Calculated as revenues divided by number of orders after cancellation and
after returns, over the last twelve months.
About Mister Spex SE:
Founded in 2007, Mister Spex SE (together with its subsidiaries, 'Mister
Spex') is a multi-award-winning company that has become the leading
digitally-driven omnichannel optician in Europe. Mister Spex has been at the
forefront of the industry's transformational shift, growing from a pure
online player into a successful omnichannel optician with more than 6.6
million customers and 10 online shops across Europe, as well as
brick-and-mortar retail stores. As a digital native, technology and
innovation have always been integral parts of the company's evolution, from
2D to 3D digital frame fitting tools to intelligent browsing features.
Mister Spex focusses on making purchasing glasses a shopping experience that
is simple, transparent and, at the same time, fun for customers - offering a
comprehensive and diverse range of high-quality products in combination with
extensive expertise in optics and advice from the customer service team, its
own branches and an extensive network of partner opticians.
Investor Relations:
Irina Zhurba I Head of Investor Relations I irina.zhurba@misterspex.de
Mister Spex SE
Hermann-Blankenstein-Straße 24
10249 Berlin
Website: www.misterspex.de
Corporate Website: https://corporate.misterspex.com
Disclaimer:
This publication contains forward-looking statements. These statements are
based on the current views, expectations and assumptions of the management
of Mister Spex SE and involve known and unknown risks and uncertainties that
could cause actual results, performance or events to differ materially from
those expressed or implied by such statements. Actual results, performance
or events may differ materially from those described herein as a result of
factors affecting Mister Spex, such as changes in general economic
conditions and the competitive environment, capital market risks, foreign
exchange rate fluctuations and competition from other companies, as well as
changes in international and national laws and regulations, particularly
with respect to tax laws and regulations. Mister Spex SE assumes no
obligation to update forward-looking statements.
This publication contains supplementary financial measures (not specifically
identified in relevant accounting frameworks) that are, or may be, so-called
alternative performance measures. For purposes of evaluating the financial
condition and results of operations of Mister Spex, these supplemental
financial measures should not be considered in isolation or as an
alternative to the financial measures presented in the consolidated
financial statements and determined in accordance with relevant accounting
frameworks. Other companies that present or report alternative performance
measures with a similar title may calculate them differently. Explanations
of financial ratios used can be found in the Annual Report 2022 of Mister
Spex, which is available at https://ir.misterspex.com/.
---------------------------------------------------------------------------
08.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com
---------------------------------------------------------------------------
Language: English
Company: Mister Spex SE
Hermann-Blankenstein-Straße 24
10249 Berlin
Germany
E-mail: presse@misterspex.de
Internet: www.misterspex.de
ISIN: DE000A3CSAE2
WKN: A3CSAE
Listed: Regulated Market in Frankfurt (Prime Standard);
Regulated Unofficial Market in Berlin, Dusseldorf,
Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1898053
End of News EQS News Service
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1898053 08.05.2024 CET/CEST
| Name | WKN | Börse | Kurs | Datum/Zeit | Diff. | Diff. % | Geld | Brief | Erster | Schluss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
 |
MISTER SPEX SE INH O.N. | A3CSAE | Frankfurt | 3,190 | 11.06.24 08:02:06 | -0,190 | -5,62% | 3,070 | 3,210 | 3,190 | 3,380 |
