MRX.DE
FY 2023 Results Presentation
FY 2023 Results Presentation
27 March 2024
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FY 2023 Results Presentation
Looking ahead
Agenda of today
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2
3
4
5
Strategic update
CFO priorities
Financial update
Guidance
Q&A
FY 2023 Results Presentation
The eyewear market and Mister Spex's position
Eyewear market
Mister Spex
+3% Market growth1 in 2023
0% in Units
+3% in Average Sales Price
Concentration of the industry has
continued
~200 stand alone opticians close every
year2
Further polarization of the market towards economy and luxury,
squeezing the midscale segment
+6% Revenue growth
(+12% in Prescription and Sun)
+1% in Orders and -2% in Units
(+4% in Units for Prescription and Sun)
+7% in Average Order Value
(+8% in Prescription and +10% in Sun)
Positive Adjusted EBITDA
+€ 9 million improvement YoY
+435 bps in Adjusted EBITDA Margin
improvement
>150 Brands and
>2,700 Boutique and Own Brand SKUs
FY 2023 Results Presentation
Mister Spex is
a unique
brand with
15-year
history and a
strong
competitive
position
Omnichannel model
Brand expertise
Tech capabilities
People
10 Countries and 75 Stores
>150 Brands
Recommendation Tools
1,293 Employees
Network of >320 Partner
16% Own Brand share
ChatBot
62 Nationalities
Opticians
18% Boutique share1
3D Face Scanning
70 Optician trainees
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1. Boutique share in Prescription and Sunglasses: 24%
FY 2023 Results Presentation
The journey of Mister Spex in the last years…
Building store network on top of
Focusing on our brand promise of
Embedding cost consciousness
robust IT platform, driving synergies
perfect frame for every face and
inside the organization without losing
and benefitting from high awareness
perfect lens for every eye
entrepreneurial spirit and ability to
move fast
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FY 2023 Results Presentation
…drove consistent outperformance…
Unit growth in 20231
Market MSX
5%
6%
4%
3%
0%
-2%
-1%
-7%
Jan-Feb
Mar-Apr
May-Jun
July-Aug
…despite continuously negative
GfK Consumer Confidence (index points)
0
-26-28-30-32-34
1. Market data for independent optical retail of frames, excluding lenses; MSX data including lenses Source: GfK Panel Report Optics Total DE (Last update: January 2024)
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FY 2023 Results Presentation
Lean 4 Leverage built an important foundation
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Drive growth in core
Gross margin focus
•
+3% LfL Growth
• Reduced discounts by 140 bps and
•
Higher labor flexibilization
selective price increases
•
New personnel planning tool
• Actively steering for prescription
and sunglasses
•
Sales training for all store employees
• Growing boutique share to 18%
What have we achieved in 2023 with Lean 4 Leverage
Leaner organization
Personalization
• Lean management implemented
• The iOS app on the App Store now
• >50% of Employees in the HQ trained
enables precise face measurements
• Mister Spex EyeD (bespoke 3D
• Reduction in other operating
printed frames) now in all German
expenses and especially external
stores
services
FY 2023 Results Presentation
Moving on to our next chapter of excellence
FY 2023 Results Presentation
Four pillar strategy to drive long- term growth
Simplicity
Customer centricity
Optical expertise
Fashion and style
Lean process within the
Core of business model and
Fuel our image with trust
Curated assortment,
organization supports
brand
and expertise
strategic collaborations
efficient customer journeys
and personalized
recommendations
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FY 2023 Results Presentation
We have already started to simplify
Customer led processes
Customer journey
business units
Lean 4 Leverage process
management
From
Input
Department 1
Department 2
Department 3
Output
To
1
Input
Process
Output
Process
2
Platform operating model
Simplified Business
units
Business platform
Foundational platform
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Disclaimer
Mister Spex SE published this content on 07 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 May 2024 04:40:04 UTC.