Mister Spex Reports 2% Group Revenue Growth and 5% in Germany for Q1 2024

Mister Spex SE reported net sales of €51.1 million for the first quarter of 2024, representing a 2% year-on-year increase for the Group. Germany drove this performance with 5% growth, fueled by double-digit gains in sunglasses (11%) and contact lenses (14%), while prescription glasses remained flat. Conversely, the International segment declined by 8%, primarily due to weaker results in Scandinavia, Switzerland, and the UK. Management attributed mixed category outcomes to calendar effects from an earlier Easter and favorable weather conditions boosting outdoor product demand. Adjusted EBITDA remained roughly flat at -3.2% of revenues. The company reconfirmed its fiscal year 2024 guidance, anticipating low-to-mid single-digit revenue growth and a positive adjusted EBITDA margin.