EQS-Adhoc: Mister Spex announces Transformation and Restructuring Program “SpexFocus” and updates guidelines for 2024 | 14.08.24

The Company’s Supervisory Board and Management Board have decided on a transformation and restructuring program for 2024 and 2025. The Company expects the transformation and restructuring program to deliver an increase in EBITDA (incl. rent) of more than €20 million, with a primary impact in 2025 and 2026. Based on current planning, the total cash outflow for the program is expected to total approximately €9 million, the majority of which will be recognized in H2 2024. As part of the program, Mister Spex will close all of its international stores and reduce personnel costs.

In addition, H1 2024 preliminary results are below the company’s expectations but remain within the guidance range, albeit at the lower end. Against this backdrop and the restructuring and repositioning program impacting the second half of the year, the company is adjusting its 2024 outlook.

Previously, management expected low to moderate net sales growth and an adjusted EBITDA margin in the low single-digit percentage range. The company now expects net sales between €230 million and €210 million and an adjusted EBITDA margin between +1% and -4% for the full year.