Mister Spex preliminary full year sales up 6 percent

Based on preliminary data, Mister Spex achieved a 6 percent growth in 2023, finishing the year with a revenue of 223 million euros, with like-for-like (LFL) growth was 3 percent.

The company said that the growth is within the projected guidance range of mid-high single-digit growth. The adjusted EBITDA is expected to be in line with the guidance range, reflecting a positive adjusted EBITDA margin in the low single-digit percentage.

In the fourth quarter, revenue increased by 7 percent, driven by a 10 percent growth in the Germany segment. Average order value (AOV) rose 10 percent, bolstered by a 13 percent increase in prescription glasses AOV.

"We take pride in what we have accomplished in Germany, significantly boosting store profitability while maintaining robust topline growth," stated Dirk Graber, CEO and founder of Mister Spex.

The company added that the fourth quarter was the third consecutive quarter with positive adjusted EBITDA and sustained gross margin expansion from the first nine months of 2023.

In 2023, Mister Spex expanded its retail footprint by opening seven stores in Germany and one in Austria, reaching a total of 75 stores.

Preliminary figures indicate that prescription glasses reported a 10 percent increase in revenue, while sunglasses category recorded a 13 percent increase.