Mister Spex Reports H1 2024 Financial Results with 4% Like-for-Like Growth in Germany

Mister Spex SE reported net revenue of €119 million for the first half of 2024, reflecting a 1% year-on-year growth. In Q2 2024, sales reached €67.6 million, also up 1%. The German market demonstrated robust performance with a 4% like-for-like growth in physical retail during Q2. Prescription glasses sales in Germany rose by 11%, while sunglasses decreased by 2% due to weather conditions. Adjusted EBITDA declined slightly by €0.8 million in H1, though Q2 saw a €0.8 million improvement. The company has initiated its 'SpexFocus' restructuring program targeting over €20 million in EBITDA savings by 2025-2026, alongside a rebranding effort and the launch of a new sports eyewear collection. Active customers fell by 2% to 1.697 million, but average order value increased by 3% to €97.6. Full-year guidance projects net revenue between €210-230 million.