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Optician Mister Spex with earnings decline

Wednesday, 11/24/2021 9:59 AM from

dpa-AFX

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A pair of glasses lies on a computer keyboard (symbol picture). © pixabay.com

BERLIN (dpa-AFX) – At the optician Mister Spex the operating result fell in the third quarter. Lower sales of prescription glasses and higher costs burdened the development, as the company, which has been listed on the stock exchange since the summer, announced on Wednesday in Berlin. Adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) fell from 2.2 million to only around 300,000 euros. In the first few minutes of trading, the share was initially able to recover from its recent heavy losses, but recently turned back into the red.

Sales of the higher-margin prescription eyewear fell 7 percent after the recovery in brick and mortar stores was slower than expected as pandemic restrictions eased. The newly opened stores were particularly affected. The local shops generate around 80 percent of their sales with prescription glasses. In addition, there were higher costs in connection with the IPO, as well as increased marketing and personnel costs.

Thanks to better sales of sunglasses and contact lenses, Mister Spex was nevertheless able to increase sales – they increased by a total of eleven percent to 49 million euros. The company generates the majority of its revenues with a good 35 million euros in Germany. The number of active customers rose 14 percent to 1.7 million in the quarter. Four new stores were opened – three in Germany and one in Austria. By the end of the year, Mister Spex will have a branch network of 48 stores in Europe.

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