The Berlin eyewear retailer Mister Spex SE suffered a further decline in sales in the first quarter of the 2026 financial year. However, the company highlighted in its interim report published on Thursday that it was able to achieve a “significant improvement in results”.
In the months January to March, the optician chain achieved sales of 40.7 million euros. This corresponded to a decrease of nine percent compared to the same quarter of the previous year. “This development must be seen against the background of a continuing tense consumer environment,” explained the company, pointing to consumers’ continued “subdued willingness to buy.”
Things went up in stationary business. Revenue there rose by eleven percent to 16.2 million euros. Like-for-like sales in its own branches increased by seven percent, and the company also said it benefited from the opening of a new store on Berlin’s Kurfürstendamm and the “integration of four acquired optical stores”.
In online business, however, sales fell by 19 percent to 24.5 million euros. This is “mainly due to reduced promotional activities and the elimination of five unprofitable international online shops in the second half of 2025,” according to a statement.
The gross margin increases significantly
The company made significant progress in operating profit thanks to an increase in gross margin from 56.4 to 58.8 percent and cost reductions. Earnings before interest, taxes, depreciation and amortization (EBITDA) adjusted for special effects reached 1.29 million euros, 88 percent higher than in the same quarter of the previous year.
Due to one-off costs resulting from “strategic, organizational and system measures” in the areas of IT infrastructure, personnel and supply chain as well as “expenses in connection with acquisitions”, the reported loss before interest, taxes, depreciation and amortization increased by 20 percent to 1.22 million euros. However, lower depreciation and impairments contributed to the net loss being reduced by five percent to 6.48 million euros.