Mister Spex Reports 3% Revenue Decline in 2024 Amid 'SpexFocus' Transformation; Expects Further Drop in 2025

German optical retailer Mister Spex SE announced its full-year 2024 financial results, marked by the implementation of its "SpexFocus" transformation program. Net revenue decreased by 3% to €217 million, within adjusted guidance, while the adjusted EBITDA margin stood at -2.7%. The International segment saw a 13% revenue decline due to store closures in Austria, Sweden, and Switzerland, leaving only an online presence outside Germany. In contrast, the German core market remained flat year-on-year with 2% like-for-like sales growth. Key initiatives included a reduction in discount promotions, which improved prescription glasses margins by approximately 77 basis points, and the launch of private label lenses, SpexPro, which accounted for roughly 20% of prescription orders in Q4 2024. For 2025, Mister Spex expects net revenue to decline by 5% to 10% as it continues to prioritize profitability over volume, shifting its key performance metric to EBIT.