Mister Spex SE: 2024 Financial Results and 2025 Outlook

Mister Spex SE, a prominent optical retailer in Germany, released its 2024 financial results, highlighting efforts under the "SpexFocus" transformation program. The year saw a 3% decline in net revenue to €217 million, aligning with their guidance range. An adjusted EBITDA margin of -2.7% was reported, while maintaining a solid cash balance of €72 million. The program emphasized cost reduction, margin enhancement, and better product management, despite international revenue declining by 13% due to strategic store closures.

The company foresees a challenging 2025, with expected revenue decline of 5% to 10% and a shift to using EBIT as the key performance metric. By advancing cash flow and profitability measures, an EBIT margin of -5% to -15% is anticipated. Strengthened German market presence and streamlined product portfolios remain key strategies, focusing on higher average order values and expanded premium offerings for improved margins. Further efficiency improvements and a shift towards a more profitable store network reaffirms Mister Spex's commitment to long-term growth.