Mister Spex increases sales

The optician start-up holds its own in the first half of the year despite the difficult market situation. However, it has to revise its forecasts downwards for the year as a whole.

Omnichannel optician Mister Spex posted revenue growth in the first half of 2022, but must revise its overall forecast for the year downward, the company said.

In the first half of the year, sales grew by almost eight percent, from 100.5 to 108.3 million euros. Sunglasses and contact lenses in particular proved to be sales drivers, which Mister Spex attributes to a resurgence in travel activity and a return to the office after Corona. The company also recorded significant growth in its brick-and-mortar stores. The company plans to continue its expansion there in the first half of the year with twelve new stores in the second half, including a first location in Switzerland. "Mister Spex continues to be very well positioned to gain further market share in a difficult market environment," says founder and co-CEO Dirk Graber.

For the full year, however, Mister Spex is adjusting its forecast downwards and is targeting revenue growth of seven to twelve percent. The company is unlikely to break even in 2022, with the EBITDA margin forecast at minus three to six percent. However, the start-up wants to increase profitability in the near future, for which it plans to focus on its core markets and on specific customer segments as well as its own brands. Savings could also follow.