Mister Spex SE

MRX

Equity

ISIN DE000A3CSAE2 / Valor 112250364

Xetra (2024-11-21)

EUR 1.50-2.59%

Mister Spex SE
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About company

Mister Spex SE is a leading European online retailer for eyewear, offering a wide range of glasses, sunglasses, and contact lenses. The company was founded in Berlin in 2007 and has since grown to become one of the largest online eyewear retailers in Europe. With a focus on providing high-quality products at affordable prices, Mister Spex SE has revolutionized the way people shop for eyewear by offering a convenient and personalized online shopping experience. The company's team of experienced professionals, including CEO Nicola Brandolese, CFO Stuart Paterson, and COO Stephan Schulz-Gohritz, bring a wealth of knowledge and expertise to the business, ensuring its continued success and growth in the competitive eyewear market.

Summarized from source with an LLMView SourceSector: Consumer Non-Cyclicals

Revenue Growth

In Q1 2024, Mister Spex SE reported a 2% increase in revenue, reaching €51.1 million compared to €50.1 million in Q1 2023. This growth was driven by a strong performance in the sunglasses category, which saw a 9% increase in sales due to favorable weather conditions in February and March.

Segment Performance

Both the German and International segments showed positive development in Q1 2024. The German segment posted a robust growth of 11%, while the International segment grew by 5%. However, revenues from prescription glasses experienced a slight decrease of 1% compared to the prior year.

Product Category Insights

Revenues from contact lenses increased by 2% in Q1 2024, driven by a 14% growth in the German segment. Conversely, the International segment saw a 16% decline in contact lens revenues, attributed to a strategic reduction in marketing and promotions for this product category.

Gross Profit Margin

Mister Spex SE's gross profit margin decreased by 161 basis points to 52.0% in Q1 2024. This decline was mainly due to a lower contribution from margin-accretive prescription glasses to the overall product mix. Personnel costs remained flat despite the addition of four new stores compared to the previous year.

Adjusted EBITDA

In Q1 2024, Mister Spex SE's adjusted EBITDA was €-1,640k, remaining flat year-on-year. This stability was primarily due to higher adjustments related to IFRS 2. Operationally, the company continued to achieve positive sales growth despite reduced consumer sentiment.

Summarized from source with an LLMView Source

Key figures

-47.4%1Y

-89.2%3Y

%5Y

Performance

47.4%1Y

53.1%3Y

52.1%5Y

Volatility