Mytheresa Reports Strong Q1 FY25 Results With 8% Net Sales Growth and Improved, Positive Year-Over-Year Profitability
Mytheresa (NYSE: MYTE) reported strong Q1 FY25 results with net sales growth of 7.6% to €201.7 million and improved profitability. Key highlights include a 9% increase in Average Order Value to €720, 14% growth in US market with 20% net sales share, and gross margin improvement of 150bps to 43.9%. The company achieved positive adjusted EBITDA margin of 1.4%, up 200bps from -0.6% in the prior year. The quarter featured successful collaborations with luxury brands and expansion in China through WeChat Mini Program launch. Mytheresa maintains its FY25 outlook with GMV and Net Sales growth of 7-13% and adjusted EBITDA margin of 3-5%.
Mytheresa (NYSE: MYTE) ha riportato risultati solidi per il primo trimestre dell'anno fiscale 25, con una crescita delle vendite nette del 7,6% a €201.7 milioni e una redditività migliorata. I punti salienti includono un aumento del 9% del valore medio degli ordini a €720, una crescita del 14% nel mercato statunitense con una quota di vendite nette del 20%, e un miglioramento del margine lordo di 150 punti base al 43,9%. L'azienda ha raggiunto un margine EBITDA rettificato positivo dell'1,4%, in aumento di 200 punti base rispetto al -0,6% dell'anno precedente. Nel trimestre si sono svolte collaborazioni di successo con marchi di lusso e un'espansione in Cina attraverso il lancio del Mini Program di WeChat. Mytheresa mantiene le sue previsioni per l'anno fiscale 25 con una crescita di GMV e vendite nette del 7-13% e un margine EBITDA rettificato del 3-5%.
Mytheresa (NYSE: MYTE) reportó resultados sólidos para el primer trimestre del año fiscal 25, con un crecimiento de las ventas netas del 7,6% hasta €201.7 millones y una rentabilidad mejorada. Los aspectos destacados incluyen un aumento del 9% en el Valor Medio del Pedido a €720, un crecimiento del 14% en el mercado estadounidense con una cuota de ventas netas del 20%, y una mejora del margen bruto de 150 puntos básicos al 43,9%. La compañía logró un margen EBITDA ajustado positivo del 1,4%, superior en 200 puntos básicos al -0,6% del año anterior. El trimestre presentó colaboraciones exitosas con marcas de lujo y expansión en China a través del lanzamiento del Mini Programa de WeChat. Mytheresa mantiene su perspectiva para el año fiscal 25 con crecimiento de GMV y ventas netas del 7-13% y un margen EBITDA ajustado del 3-5%.
Mytheresa (NYSE: MYTE)는 2025 회계연도 1분기 실적을 발표하며 순매출이 7.6% 증가한 €201.7 백만과 함께 수익성이 개선되었음을 보고했습니다. 주요 하이라이트로는 평균 주문가치가 9% 증가하여 €720에 도달했고, 미국 시장에서 14% 성장을 기록하며 20%의 순매출 점유율을 보였습니다. 또한 총 마진이 150bp 개선되어 43.9%에 달했습니다. 이 회사는 조정된 EBITDA 마진이 1.4%로, 이전 년도의 -0.6%에서 200bp 상승했습니다. 분기 동안 럭셔리 브랜드와의 성공적인 협업과 WeChat 미니 프로그램을 통한 중국 시장 확장이 특징이었습니다. Mytheresa는 2025 회계연도 전망을 유지하며 GMV 및 순매출 성장이 7-13%, 조정된 EBITDA 마진은 3-5%로 예상하고 있습니다.
Mytheresa (NYSE: MYTE) a annoncé de solides résultats pour le premier trimestre de l'exercice 25, avec une croissance des ventes nettes de 7,6% atteignant 201,7 millions d'euros et une rentabilité améliorée. Les points saillants incluent une augmentation de 9% de la valeur moyenne des commandes à 720 €, une croissance de 14% sur le marché américain avec une part de ventes nettes de 20%, et une amélioration de la marge brute de 150 points de base à 43,9%. L'entreprise a obtenu une marge EBITDA ajustée positive de 1,4%, en hausse de 200 points de base par rapport à -0,6% l'année précédente. Ce trimestre a été marqué par des collaborations réussies avec des marques de luxe et une expansion en Chine grâce au lancement du Mini Programme WeChat. Mytheresa maintient ses perspectives pour l'exercice 25, avec une croissance GMV et des ventes nettes de 7 à 13% et une marge EBITDA ajustée de 3 à 5%.
Mytheresa (NYSE: MYTE) berichtete über starke Ergebnisse im 1. Quartal des Geschäftsjahres 25 mit einem Umsatzwachstum von 7,6% auf €201,7 Millionen und einer verbesserten Rentabilität. Zu den wichtigsten Punkten gehört ein 9%iger Anstieg des durchschnittlichen Bestellwerts auf €720, ein Wachstum von 14% im US-Markt mit einem Anteil von 20% an den Nettoumsätzen und eine Verbesserung des Bruttomargins um 150 Basispunkte auf 43,9%. Das Unternehmen erzielte eine positive bereinigte EBITDA-Marge von 1,4%, was einem Anstieg von 200 Basispunkten gegenüber -0,6% im Vorjahr entspricht. Im Quartal gab es erfolgreiche Kooperationen mit Luxusmarken und eine Expansion in China durch den Start des WeChat Mini Programms. Mytheresa hält an den Prognosen für das Geschäftsjahr 25 fest, mit einem Wachstum des GMV und der Nettoumsätze von 7-13% und einer bereinigten EBITDA-Marge von 3-5%.
- Net sales increased 7.6% to €201.7 million
- Average Order Value (AOV) grew 9% to €720
- US market growth of 14% with 20% net sales share
- Gross margin improved 150bps to 43.9%
- Adjusted EBITDA margin improved to 1.4% from -0.6%
- Average GMV per top customers increased 16.7%
- Inventory reduced by 3.6% year-over-year
- GMV growth of 6.3% was lower than net sales growth
Insights
Mytheresa's Q1 FY25 results demonstrate robust financial health with several positive indicators. Net sales grew 7.6% to
- Record-high Average Order Value of
€720 , up9% - Gross margin improvement of
1.5% to43.9% - Positive adjusted EBITDA margin of
1.4% , up 200 basis points year-over-year - US market growth of
14% , now representing20% of net sales
The planned YNAP acquisition positions Mytheresa for significant market consolidation. The company's inventory management shows discipline with a
The luxury e-commerce sector's competitive dynamics are shifting favorably for Mytheresa. The
-
Strong Net Sales Growth in Q1 FY25 of
8% compared to Q1 FY24 -
Significant increase of Average Order Value (AOV) by
9% to a new record of€720 LTM in Q1 FY25 -
Double-digit US Market Growth with +
14% in Q1 FY25 vs. Q1 FY24 and Net Sales share of the US further expanding to20% -
Exceptional Customer Economics with strong increase in average GMV per top customers by +
16.7% in Q1 FY25 -
Gross Margin Improvement of 150bps to
43.9% in Q1 FY25 as compared to Q1 FY24 -
Improved Profitability by 200bps at adjusted EBITDA margin level of
1.4% in Q1 FY25 as compared to -0.6% in the prior year period - Transformational opportunity with the announced acquisition of YOOX NET-A-PORTER (“YNAP”) to create a leading, global, multi-brand digital luxury group
Michael Kliger, Chief Executive Officer of Mytheresa, said, “We are very pleased with our results despite many short-term uncertainties. With strong revenue growth and positive adjusted EBITDA in the first quarter we continued our very positive business momentum that we have seen since the third quarter of fiscal year 2024.”
Kliger continued, “We have reaffirmed our leading position in a clearly consolidating sector and displayed our unique characteristic of profitable growth. We strongly believe that we will benefit significantly from the improving market conditions over the next quarters. Our strong growth with top customer, our record high AOV, our improved gross margin and the excellent customer satisfaction scores all highlight the fundamental health of our business.”
FINANCIAL HIGHLIGHTS FOR THE FIRST QUARTER FY25 ENDED SEPTEMBER 30, 2024
-
Net Sales increase of
7.6% in Q1 FY25 to€201.7 million as compared to 187.5 million in the prior year period -
GMV growth of
6.3% to€216.6 million in Q1 of FY25 compared to Q1 FY24 -
Gross Profit margin of
43.9% , a 150bps increase as compared to42.4% in the prior year period -
Improved Profitability by 200bps at adjusted EBITDA margin level of
1.4% in Q1 FY25 as compared to -0.6% in the prior year period -
Inventory decrease of -
3.6% year-over-year to€365.0 million
Q1 FY25 KEY BUSINESS HIGHLIGHTS
- Launch of exclusive capsule collections and pre-launches in collaboration with Chloé, Bottega Veneta, Saint Laurent, Loewe, Gucci, The Row and others
-
Highly impactful top customer events around the globe and multi-day “money-can´t buy” experiences in partnership with luxury brands, including an intimate dinner with Simone Rocha at the illustrious Claridge’s in
London , a supper club evening at the iconic club Le Bristol After Dark inParis , Mytheresa´s annual cocktail soirée at the legendary Bar Basso inMilan and a two-day experience with Tod´s inMilan - Launch of own Chinese brand name 美遴世 (Mei Lin Shi) and of the Mytheresa WeChat Mini Program, offering Chinese customers a seamless and convenient shopping experience
- Release of Mytheresa’s third Environment, Social and Governance (ESG) report highlighting Mytheresa´s progress towards ESG commitments in fiscal year 2024
For the full fiscal year ending June 30, 2025, we expect:
-
GMV and Net Sales growth in the range of
7% to13% -
Adjusted EBITDA margin in the range of
3% and5%
The foregoing forward-looking statements reflect Mytheresa’s expectations as of today's date. Given the number of risk factors, uncertainties and assumptions discussed below, actual results may differ materially. Mytheresa does not intend to update its forward-looking statements until its next quarterly results announcement, other than in publicly available statements.
ACQUISITION OF YNAP
On October 7, 2024, the Company and Richemont Italia Holding S.P.A signed an agreement for Mytheresa to acquire YOOX Net-A-Porter Group S.p.A (“YNAP”):
-
Richemont Italia Holding S.P.A will sell YNAP to Mytheresa with a cash position of
€555m and no financial debt, subject to customary closing adjustments. -
Mytheresa to issue shares to Richemont Italia Holding S.P.A representing
33% of Mytheresa’s fully diluted share capital. -
Richemont International Holding S.A. to provide a
€100m revolving credit facility to YNAP. - Closing of transaction expected in the first half of 2025, subject to customary conditions, including regulatory approvals.
CONFERENCE CALL AND WEBCAST INFORMATION
Mytheresa will host a conference call to discuss its first quarter of fiscal year 2025 financial results on November 19, 2024 at 8:00am Eastern Time. Those wishing to participate via webcast should access the call through Mytheresa’s Investor Relations website at https://investors.mytheresa.com. Those wishing to participate via the telephone may dial in at +1 (800) 715-9871 (
FORWARD LOOKING STATEMENTS
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to financing activities; future sales, expenses, and profitability; future development and expected growth of our business and industry; our ability to execute our business model and our business strategy; having available sufficient cash and borrowing capacity to meet working capital, debt service and capital expenditure requirements for the next twelve months; and projected capital spending. In some cases, you can identify forward-looking statements by the following words: “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements are only predictions. Actual events or results may differ materially from those stated or implied by these forward-looking statements. In evaluating these statements and our prospects, you should carefully consider the factors set forth below.
We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
The achievement or success of the matters covered by such forward-looking statements involves known and unknown risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make.
You should not rely upon forward-looking statements as predictions of future events. Forward-looking statements represent our management’s beliefs and assumptions only as of the date such statements are made.
Further information on these and other factors that could affect our financial results is included in filings we make with the
ABOUT NON-IFRS FINANCIAL MEASURES AND OPERATING METRICS
Our non-IFRS financial measures include:
- Adjusted EBITDA is a non-IFRS financial measure that we calculate as net income before finance expense (net), taxes, and depreciation and amortization, adjusted to exclude Other transaction-related, certain legal and other expenses and Share-based compensation expense. Adjusted EBITDA Margin is a non-IFRS financial measure which is calculated in relation to net sales.
- Adjusted Operating Income is a non-IFRS financial measure that we calculate as operating income, adjusted to exclude Other transaction-related, certain legal and other expenses and Share-based compensation expense. Adjusted Operating Income Margin is a non-IFRS financial measure which is calculated in relation to net sales.
- Adjusted Net Income is a non-IFRS financial measure that we calculate as net income, adjusted to exclude Other transaction-related, certain legal and other expenses and Share-based compensation expense. Adjusted Net Income Margin is a non-IFRS financial measure which is calculated in relation to net sales.
We are not able to forecast net income (loss) on a forward-looking basis without unreasonable efforts due to the high variability and difficulty in predicting certain items that affect net income (loss), including, but not limited to, Income taxes and Interest expense and, as a result, are unable to provide a reconciliation to forecasted Adjusted EBITDA.
Gross Merchandise Value (GMV) is an operative measure and means the total Euro value of orders processed. GMV is inclusive of merchandise value, shipping and duty. It is net of returns, value added taxes and cancellations. GMV does not represent revenue earned by us. We use GMV as an indicator for the usage of our platform that is not influenced by the mix of direct sales and commission sales. The indicators we use to monitor usage of our platform include, among others, active customers, total orders shipped and GMV.
ABOUT MYTHERESA
Mytheresa is one of the leading luxury multi-brand digital platforms shipping to over 130 countries. Founded as a boutique in 1987, Mytheresa launched online in 2006 and offers ready-to-wear, shoes, bags and accessories for womenswear, menswear, kidswear as well as lifestyle products and fine jewelry. The highly curated edit of up to 250 brands focuses on true luxury brands such as Bottega Veneta, Brunello Cucinelli, Dolce&Gabbana, Gucci, Loewe, Loro Piana, Moncler, Prada, Saint Laurent, The Row, Valentino, and many more. Mytheresa’s unique digital experience is based on a sharp focus on high-end luxury shoppers, exclusive product and content offerings, leading technology and analytical platforms as well as high quality service operations. The NYSE listed company reported
For more information and updated Mytheresa campaign imagery, please visit https://investors.mytheresa.com.
MYT Netherlands Parent B.V. |
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Financial Results and Key Operating Metrics |
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(Amounts in € millions) |
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Three Months Ended |
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September 30,
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September 30,
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Change
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(in millions) (unaudited) |
|
|
|
|
|
Gross Merchandise Value (GMV) (1) |
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|
|
|
|
Active customer (LTM in thousands) (1), (2) |
865 |
|
842 |
|
( |
Total orders shipped (LTM in thousands) (1), (2) |
2,027 |
|
2,095 |
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|
Net sales |
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|
|
|
|
Gross profit |
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|
|
|
|
Gross profit margin (3) |
|
|
|
|
150 BPs |
Operating Loss |
|
|
|
|
( |
Operating Loss margin (3) |
( |
|
( |
|
(770 BPs) |
Net Loss |
|
|
|
|
( |
Net Loss margin (3) |
( |
|
( |
|
(520 BPs) |
Adjusted EBITDA (4) |
|
|
|
|
|
Adjusted EBITDA margin (3) |
( |
|
|
|
200 BPs |
Adjusted Operating Income (Loss) (4) |
|
|
|
|
|
Adjusted Operating Income (Loss) margin (3) |
( |
|
( |
|
180 BPs |
Adjusted Net Income (Loss) (4) |
|
|
|
|
|
Adjusted Net Income (Loss) margin (3) |
( |
|
|
|
440 BPs |
(1) |
Definition of GMV, Active customer and Total orders shipped can be found on page 28 in our quarterly report. |
(2) |
Active customers and total orders shipped are calculated based on orders shipped from our sites during the last twelve months (LTM) ended on the last day of the period presented. |
(3) |
As a percentage of net sales. |
(4) |
EBITDA, adjusted EBITDA, adjusted operating income and adjusted net income are measures not defined under IFRS. For further information about how we calculate these measures and limitations of its use, see page 28 in our quarterly report. |
MYT Netherlands Parent B.V.
Financial Results and Key Operating Metrics
(Amounts in € millions)
The following tables set forth the reconciliations of net income (loss) to EBITDA and adjusted EBITDA, operating income (loss) to adjusted operating income and net income (loss) to adjusted net income and their corresponding margins as a percentage of net sales:
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Three Months Ended |
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|
|
|
|
|
September 30,
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|
September 30,
|
|
Change
|
(in millions) (unaudited) |
|
|
|
|
|
Net loss |
|
|
|
|
( |
Finance expenses, net |
|
|
|
|
|
Income tax expense (benefit) |
|
|
|
|
|
Depreciation and amortization |
|
|
|
|
|
thereof depreciation of right-of use assets |
|
|
|
|
|
thereof impairment loss on property and equipment (3) |
- |
|
|
|
N/A |
EBITDA |
|
|
|
|
( |
Other transaction-related, certain legal and other expenses (1) |
|
|
|
|
|
Share-based compensation (2) |
|
|
|
|
( |
Adjusted EBITDA |
|
|
|
|
( |
|
|
|
|
|
|
Reconciliation to Adjusted EBITDA Margin |
|
|
|
|
|
Net Sales |
|
|
|
|
|
Adjusted EBITDA margin |
( |
|
|
|
200 BPs |
|
Three Months Ended |
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|
|
|
|
|
|
|
September 30,
|
|
September 30,
|
|
Change
|
(in millions) (unaudited) |
|
|
|
|
|
Operating loss |
|
|
|
|
( |
Other transaction-related, certain legal and other expenses (1) |
|
|
|
|
|
Share-based compensation (2) |
|
|
|
|
( |
Impairment loss on property and equipment (3) |
- |
|
|
|
N/A |
Adjusted Operating loss |
|
|
|
|
|
|
|
|
|
|
|
Reconciliation to Adjusted Operating Income Margin |
|
|
|
|
|
Net Sales |
|
|
|
|
|
Adjusted Operating Income (Loss) margin |
( |
|
( |
|
180 BPs |
|
Three Months Ended |
||||
|
|
|
|
|
|
|
September 30,
|
|
September 30,
|
|
Change
|
(in millions) (unaudited) |
|
|
|
|
|
Net loss |
|
|
|
|
( |
Other transaction-related, certain legal and other expenses (1) |
|
|
|
|
|
Share-based compensation (2) |
|
|
|
|
( |
Impairment loss on property and equipment (3) |
- |
|
|
|
N/A |
Adjusted Net Income (loss) |
|
|
|
|
|
|
|
|
|
|
|
Reconciliation to Adjusted Net Income Margin |
|
|
|
|
|
Net Sales |
|
|
|
|
|
Adjusted Net Income (Loss) margin |
( |
|
|
|
440 BPs |
(1) |
Other transaction-related, certain legal and other expenses represent (i) professional fees, including advisory and accounting fees, related to potential transactions, (ii) certain legal and other expenses incurred outside the ordinary course of our business and (iii) other non-recurring expenses incurred in connection with the costs of closing distribution center in Heimstetten, |
(2) |
Certain members of management and supervisory board members have been granted share-based compensation for which the share-based compensation expense will be recognized upon defined vesting schedules in the future periods. Our methodology to adjust for share-based compensation and subsequently calculate adjusted EBITDA, adjusted operating income and adjusted net income includes both share-based compensation expense connected to the IPO and share-based compensation expense recognized in connection with grants under the Long-Term Incentive Plan (LTI) for the Mytheresa Group key management members and share-based compensation expense due to Supervisory Board Members Plans. We do not consider share-based compensation expense to be indicative of our core operating performance. For further information about how we calculate these measures and limitations of its use, see our annual report on Form 20-F filed on September 12, 2024. |
(3) |
Included in depreciation and amortization is an impairment loss recognized, in accordance with IAS 36, on property plant and equipment utilized in the Heimstetten distribution center, which was closed in August 2024. |
MYT Netherlands Parent B.V. |
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Consolidated Statements of Profit or Loss and Comprehensive Loss |
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(Amounts in € thousands, except share and per share data) |
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|
Three Months Ended |
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|
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(in € thousands) |
|
|
September 30,
|
|
September 30,
|
|
|
|
|
|
|
Net sales |
|
|
187,467 |
|
201,701 |
Cost of sales, exclusive of depreciation and amortization |
|
|
(107,978) |
|
(113,067) |
Gross profit |
|
|
79,488 |
|
88,633 |
Shipping and payment cost |
|
|
(28,312) |
|
(29,360) |
Marketing expenses |
|
|
(23,699) |
|
(24,992) |
Selling, general and administrative expenses |
|
|
(38,428) |
|
(56,013) |
Depreciation and amortization |
|
|
(3,396) |
|
(7,128) |
Other income, net |
|
|
874 |
|
(1,177) |
Operating loss |
|
|
(13,473) |
|
(30,036) |
Finance income |
|
|
1 |
|
- |
Finance costs |
|
|
(1,009) |
|
(1,221) |
Finance costs, net |
|
|
(1,008) |
|
(1,221) |
Loss before income taxes |
|
|
(14,481) |
|
(31,257) |
Income tax (expense) benefit |
|
|
2,307 |
|
7,736 |
Net loss |
|
|
(12,174) |
|
(23,522) |
Cash Flow Hedge |
|
|
(1,744) |
|
1,035 |
Income Taxes related to Cash Flow Hedge |
|
|
487 |
|
(289) |
Foreign currency translation |
|
|
(13) |
|
(29) |
Other comprehensive loss |
|
|
(1,270) |
|
717 |
Comprehensive loss |
|
|
(13,444) |
|
(22,805) |
|
|
|
|
|
|
Basic & diluted earnings per share € |
|
|
(0.14) |
|
(0.27) |
Weighted average ordinary shares outstanding (basic and diluted) – in millions (1) |
|
|
86.8 |
|
87.2 |
(1) |
In accordance with IAS 33, includes contingently issuable shares that are fully vested and can be converted at any time for no consideration. For further details, refer to note 13 in our quarterly report. |
MYT Netherlands Parent B.V. |
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Consolidated Statements of Financial Position |
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(Amounts in € thousands) |
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(in € thousands) |
June 30, 2024 |
September 30, 2024 |
|||
Assets |
|
||||
Non-current assets |
|
||||
Intangible assets and goodwill |
|
|
154,951 |
|
155,317 |
Property and equipment |
|
43,653 |
|
39,856 |
|
Right-of-use assets |
|
|
45,468 |
|
44,736 |
Deferred tax assets |
|
1,999 |
|
8,856 |
|
Other non-current assets |
|
|
7,572 |
|
7,499 |
Total non-current assets |
|
253,643 |
|
256,265 |
|
Current assets |
|
|
|
|
|
Inventories |
|
|
370,635 |
|
364,977 |
Trade and other receivables |
|
11,819 |
|
8,977 |
|
Other assets |
|
|
45,306 |
|
37,056 |
Cash and cash equivalents |
|
15,107 |
|
8,960 |
|
Total current assets |
|
|
442,867 |
|
419,969 |
Total assets |
|
696,511 |
|
676,234 |
|
|
|
|
|
|
|
Shareholders’ equity and liabilities |
|
|
|
|
|
Subscribed capital |
|
1 |
|
1 |
|
Capital reserve |
|
|
546,913 |
|
551,407 |
Accumulated Deficit |
|
(112,767) |
|
(136,289) |
|
Accumulated other comprehensive income |
|
|
1,496 |
|
2,213 |
Total shareholders’ equity |
|
435,643 |
|
417,333 |
|
|
|
|
|
|
|
Non-current liabilities |
|
|
|
|
|
Provisions |
|
|
2,789 |
|
2,829 |
Lease liabilities |
|
40,483 |
|
40,152 |
|
Deferred tax liabilities |
|
|
11 |
|
525 |
Total non-current liabilities |
|
43,282 |
|
43,505 |
|
Current liabilities |
|
|
|
|
|
Borrowings |
|
|
- |
|
25,316 |
Tax liabilities |
|
|
10,643 |
|
8,994 |
Lease liabilities |
|
|
9,282 |
|
8,985 |
Contract liabilities |
|
17,104 |
|
16,305 |
|
Trade and other payables |
|
|
85,322 |
|
45,619 |
Other liabilities |
|
95,235 |
|
110,177 |
|
Total current liabilities |
|
|
217,585 |
|
215,396 |
Total liabilities |
|
260,867 |
|
258,901 |
|
Total shareholders’ equity and liabilities |
|
|
696,511 |
|
676,234 |
MYT Netherlands Parent B.V. |
||||||||||||
|
||||||||||||
Consolidated Statements of Changes in Equity |
||||||||||||
(Amounts in € thousands) |
||||||||||||
(in € thousands) |
|
Subscribed
|
|
Capital
|
|
Accumulated
|
|
Hedging
|
|
Foreign
|
|
Total
|
Balance as of July 1, 2023 |
|
1 |
|
529,775 |
|
(87,856) |
|
- |
|
1,509 |
|
443,429 |
Net loss |
|
- |
|
- |
|
(12,174) |
|
- |
|
- |
|
(12,174) |
Other comprehensive loss |
|
- |
|
- |
|
- |
|
(1,257) |
|
(13) |
|
(1,270) |
Comprehensive loss |
|
- |
|
- |
|
(12,174) |
|
(1,257) |
|
(13) |
|
(13,444) |
Share options exercised |
|
|
- |
|
- |
|
- |
|
- |
|
- |
|
Share-based compensation |
|
- |
|
6,478 |
|
- |
|
- |
|
- |
|
6,478 |
Balance as of September 30, 2023 |
|
1 |
|
536,253 |
|
(100,030) |
|
(1,257) |
|
1,496 |
|
436,464 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of July 1, 2024 |
|
1 |
|
546,913 |
|
(112,767) |
|
- |
|
1,496 |
|
435,643 |
Net loss |
|
- |
|
- |
|
(23,522) |
|
- |
|
- |
|
(23,522) |
Other comprehensive loss |
|
- |
|
- |
|
- |
|
746 |
|
(29) |
|
717 |
Comprehensive loss |
|
- |
|
- |
|
(23,522) |
|
746 |
|
(29) |
|
(22,805) |
Share-based compensation |
|
- |
|
4,495 |
|
- |
|
- |
|
- |
|
4,495 |
Balance as of September 30, 2024 |
|
1 |
|
551,407 |
|
(136,289) |
|
746 |
|
1,467 |
|
417,333 |
MYT Netherlands Parent B.V. |
|||||
|
|||||
Consolidated Statements of Cash Flows |
|||||
(Amounts in € thousands) |
|||||
Three months ended September 30, |
|||||
(in € thousands) |
2023 |
2024 |
|||
Net Loss |
|
|
(12,174) |
|
(23,522) |
Adjustments for |
|
|
|
|
|
Depreciation and amortization |
|
|
3,396 |
|
7,128 |
Finance (income) costs, net |
|
|
1,008 |
|
1,221 |
Share-based compensation |
|
|
6,341 |
|
4,495 |
Income tax benefit |
|
|
(2,307) |
|
(7,736) |
Change in operating assets and liabilities |
|
|
|
|
|
(Increase) decrease in inventories |
|
|
(18,364) |
|
5,658 |
Decrease in trade and other receivables |
|
|
618 |
|
2,842 |
Decrease in other assets |
|
|
6,003 |
|
10,096 |
(Increase) decrease in other liabilities |
|
|
(11,309) |
|
14,205 |
Decrease in contract liabilities |
|
|
(6,652) |
|
(799) |
(Decrease) increase in trade and other payables |
|
|
2,729 |
|
(39,700) |
Income taxes paid |
|
|
(2,607) |
|
(544) |
Net cash used in operating activities |
|
|
(33,317) |
|
(26,655) |
Expenditure for property and equipment and intangible assets |
|
|
(3,107) |
|
(1,296) |
Net cash used in investing activities |
|
|
(3,107) |
|
(1,296) |
Interest paid |
|
|
(1,008) |
|
(1,156) |
Proceeds from borrowings |
|
|
16,393 |
|
25,316 |
Lease payments |
|
|
(1,645) |
|
(2,258) |
Net cash inflow from financing activities |
|
|
13,740 |
|
21,902 |
Net decrease in cash and cash equivalents |
|
|
(22,684) |
|
(6,049) |
Cash and cash equivalents at the beginning of the period |
|
|
30,136 |
|
15,107 |
Effects of exchange rate changes on cash and cash equivalents |
|
|
46 |
|
(98) |
Cash and cash equivalents at end of the period |
|
|
7,497 |
|
8,960 |
View source version on businesswire.com: https://www.businesswire.com/news/home/20241119106659/en/
Investor Relations Contacts
Mytheresa.com GmbH
Stefanie Muenz
phone: +49 89 127695-1919
email: investors@mytheresa.com
Media Contacts for public relations
Mytheresa.com GmbH
Sandra Romano
mobile: +49 152 54725178
email: sandra.romano@mytheresa.com
Media Contacts for business press
Mytheresa.com GmbH
Lisa Schulz
mobile: +49 151 11216490
email: lisa.schulz@mytheresa.com
Source: MYT Netherlands Parent B.V.
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