Mister Spex : FY 2024 Results Earnings Call Presentation

FY 2023 Results Presentation

FY 2023 Results Presentation

27 March 2024

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FY 2023 Results Presentation

Looking ahead

Agenda of today

1

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

1. Germany, net sales for prescription glasses and sunglasses, based on GfK 2. Refer to slide 33 for more information

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
4	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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