Q2 FY25 Results: Mytheresa Reports Strong Net Sales Growth of 13% and Continued Strong Adjusted EBITDA Profitability in the Second Quarter
Mytheresa (NYSE: MYTE) reported strong Q2 FY25 financial results with net sales growth of 13.4% reaching €223.0 million. The luxury multi-brand digital platform demonstrated robust performance with notable metrics including:
- GMV growth of 11.9% to €244.7 million
- Outstanding Average Order Value increase of 9.5% to €736
- Gross Profit margin improvement of 110 basis points to 50.9%
- Adjusted EBITDA of €16.2 million with 7.3% margin
- Strong US market expansion with 17.6% growth
The company announced plans to acquire YOOX Net-A-Porter Group (YNAP) with a €555m cash position and no financial debt, with Richemont receiving 33% of Mytheresa's shares. The company maintains its FY25 guidance with expected GMV and Net Sales growth of 7-13% and Adjusted EBITDA margin of 3-5%.
Mytheresa (NYSE: MYTE) ha riportato risultati finanziari robusti per il secondo trimestre dell'anno fiscale 25, con una crescita delle vendite nette del 13,4% che ha raggiunto i 223,0 milioni di euro. La piattaforma digitale multi-brand di lusso ha mostrato una performance solida con metriche notevoli tra cui:
- Crescita del GMV dell'11,9% a 244,7 milioni di euro
- Aumento eccezionale del Valore Medio degli Ordini del 9,5% a 736 euro
- Miglioramento del margine di Profitto Lordo di 110 punti base al 50,9%
- EBITDA rettificato di 16,2 milioni di euro con un margine del 7,3%
- Forte espansione nel mercato statunitense con una crescita del 17,6%
La società ha annunciato piani per acquisire YOOX Net-A-Porter Group (YNAP) con una posizione di cassa di 555 milioni di euro e nessun debito finanziario, con Richemont che riceverà il 33% delle azioni di Mytheresa. L'azienda mantiene la sua guida per l'anno fiscale 25 con una crescita prevista del GMV e delle Vendite nette tra il 7 e il 13% e un margine EBITDA rettificato del 3-5%.
Mytheresa (NYSE: MYTE) reportó resultados financieros sólidos para el segundo trimestre del año fiscal 25, con un crecimiento en las ventas netas del 13.4% alcanzando 223.0 millones de euros. La plataforma digital de lujo multi-marca demostró un desempeño robusto con métricas destacadas que incluyen:
- Crecimiento del GMV del 11.9% a 244.7 millones de euros
- Aumento sobresaliente del Valor Promedio del Pedido del 9.5% a 736 euros
- Mejora de 110 puntos básicos en el margen de Ganancia Bruta al 50.9%
- EBITDA ajustado de 16.2 millones de euros con un margen del 7.3%
- Fuerte expansión en el mercado estadounidense con un crecimiento del 17.6%
La compañía anunció planes para adquirir YOOX Net-A-Porter Group (YNAP) con una posición de efectivo de 555 millones de euros y sin deuda financiera, con Richemont recibiendo el 33% de las acciones de Mytheresa. La empresa mantiene su guía para el año fiscal 25 con un crecimiento esperado del GMV y de las ventas netas del 7-13% y un margen de EBITDA ajustado del 3-5%.
Mytheresa (NYSE: MYTE)는 2025 회계연도 2분기 강력한 재무 실적을 보고하였으며, 순매출이 13.4% 증가하여 2억 2300만 유로에 도달했습니다. 럭셔리 멀티브랜드 디지털 플랫폼은 다음과 같은 주목할 만한 성과를 보여주었습니다:
- GMV 11.9% 증가하여 2억 4470만 유로
- 평균 주문 가치 9.5% 증가하여 736 유로
- 총 이익률 110bp 상승하여 50.9%
- 조정된 EBITDA 1620만 유로, 마진 7.3%
- 미국 시장에서 17.6% 성장
회사는 5억 5500만 유로의 현금 포지션과 무부채 상태에서 YOOX Net-A-Porter Group (YNAP) 인수 계획을 발표하였으며, Richemont가 Mytheresa의 주식 33%를 받습니다. 회사는 2025 회계연도에 대한 가이던스를 유지하며, GMV와 순매출 성장을 7-13%, 조정된 EBITDA 마진을 3-5%로 예상합니다.
Mytheresa (NYSE: MYTE) a annoncé de solides résultats financiers pour le deuxième trimestre de l'exercice fiscal 25, avec une croissance des ventes nettes de 13,4% atteignant 223,0 millions d'euros. La plateforme numérique de luxe multi-marques a montré une performance robuste avec des indicateurs notables, notamment :
- Croissance du GMV de 11,9% à 244,7 millions d'euros
- Augmentation remarquable de la Valeur Moyenne des Commandes de 9,5% à 736 euros
- Amélioration de la marge Brute de 110 points de base à 50,9%
- EBITDA ajusté de 16,2 millions d'euros avec une marge de 7,3%
- Forte expansion du marché américain avec 17,6% de croissance
L'entreprise a annoncé des plans pour acquérir YOOX Net-A-Porter Group (YNAP) avec une position de trésorerie de 555 millions d'euros et aucune dette financière, Richemont recevant 33% des actions de Mytheresa. L'entreprise maintient ses prévisions pour l'exercice 25, avec une croissance prévue du GMV et des ventes nettes de 7 à 13% et une marge EBITDA ajustée de 3 à 5%.
Mytheresa (NYSE: MYTE) meldete für das zweite Quartal des Geschäftsjahres 25 starke finanzielle Ergebnisse mit einem Umsatzwachstum von 13,4%, das 223,0 Millionen Euro erreichte. Die Luxus-Multi-Brand-Digitalplattform zeigte eine robuste Leistung mit bemerkenswerten Kennzahlen:
- GMV-Wachstum von 11,9% auf 244,7 Millionen Euro
- Hervorragende Steigerung des Durchschnittswarenkorbwertes um 9,5% auf 736 Euro
- Verbesserung der Bruttomarge um 110 Basispunkte auf 50,9%
- Bereinigtes EBITDA von 16,2 Millionen Euro mit einer Marge von 7,3%
- Starke Marktexpansion in den USA mit einem Wachstum von 17,6%
Das Unternehmen gab Pläne zur Übernahme der YOOX Net-A-Porter Group (YNAP) mit einer Barreserve von 555 Millionen Euro und ohne Finanzverschuldung bekannt, wobei Richemont 33% der Anteile von Mytheresa erhält. Das Unternehmen hält an seiner Prognose für das Geschäftsjahr 25 fest, mit einem erwarteten Wachstum von GMV und Nettoumsatz von 7-13% und einer bereinigten EBITDA-Marge von 3-5%.
- Net sales increased 13.4% YoY to €223.0 million
- US market growth of 17.6% in Q2 FY25
- Gross Profit margin improved 110bps to 50.9%
- Average Order Value increased 9.5% to €736
- Strong GMV per Top Customer growth of 13.6%
- Adjusted EBITDA margin of 7.3% in Q2 FY25
- Inventory reduction of 1.3% vs Q2 FY24
- Expected lower EBITDA margin (3-5%) for full FY25 compared to Q2 performance
- Significant share dilution expected from YNAP acquisition (33% of shares)
Insights
Mytheresa's Q2 FY25 results demonstrate exceptional execution in the luxury e-commerce space, with several standout metrics warranting attention. The 13.4% net sales growth to
Three key performance indicators deserve special focus: First, the -1.3% inventory decrease while growing sales indicates masterful supply chain management and working capital efficiency. Second, the
The pending YNAP acquisition represents a transformative opportunity. The deal structure, bringing
The
-
Double-digit Net Sales growth with +
13.4% in Q2 FY25 vs. Q2 FY24 -
Continuous US expansion with +
17.6% Net Sales growth in Q2 FY25 - Strong GMV per Top Customer growth with +13.6% in Q2 FY25
-
Outstanding Average Order Value increasing by +
9.5% to€736 LTM in Q2 FY25 -
Gross Profit Margin increase of 110bps to
50.9% in Q2 FY25 -
Strong profitability with adjusted EBITDA margin of
7.3% in Q2 FY25 -
Inventory decrease of -
1.3% in Q2 FY25 vs. Q2 FY24
Mytheresa’s second quarter highlights include double-digit revenue growth, high Top Customer spend growth, many “money-can’t-buy” Top Customer experiences around the globe and continued strong adjusted EBITDA profitability.
Michael Kliger, Chief Executive Officer of Mytheresa, said, “We are very pleased with our results in a still volatile macro environment. With strong, accelerating revenue growth of
Kliger continued, “We have reaffirmed our leadership position in terms of financial performance and reputation in digital luxury. Our clear focus on the high-spending, wardrobe-building top customers sets us apart and allows us to win market share and grow profitably. Strong Top Customer revenue growth, an outstanding average order value and excellent customer satisfaction scores demonstrate our relentless customer focus which is a key success factor for Mytheresa.”
FINANCIAL HIGHLIGHTS FOR THE SECOND QUARTER ENDED DECEMBER 31, 2024
-
Net sales increase of +
13.4% year-over-year to€223.0 million as compared to€196.6 million in Q2 FY24 and in H1 FY25 +10.6% vs. H1 FY24 -
GMV growth of
11.9% to€244.7 million in Q2 FY25 as compared to€218.7 million in the prior year period -
Outstanding Average Order Value increasing by +
9.5% to€736 LTM in Q2 FY25 -
Strong Gross Profit margin of
50.9% , an increase of 110 BPs to year-over-year -
Adjusted EBITDA of
€16.2 million and adjusted EBITDA margin of7.3% - in H1 of FY25 Adjusted EBITDA margin at4.5% -
Positive Adjusted Operating Income and Adjusted Net Income Margin of
5.5% and4.8% , respectively in Q2 FY25 -
Inventory decrease of -
1.3% in Q2 FY25 vs. Q2 FY24 to€404.6 million
KEY BUSINESS HIGHLIGHTS
-
Strong Net Sales growth in
the United States of +17.6% vs. Q2 FY24 -
Strong growth of GMV per Top Customers of +
13.6% vs. Q2 FY24 - Launch of exclusive capsule collections and pre-launches in collaboration with Khaite, Alaia, Saint Laurent, Loewe, Gucci, Miu Miu, Moncler, Bottega Veneta and many more
- Continued expansion of fine jewelry offer with launch of highly prestigious Bvlgari brand online, supporting ongoing top customer focus and high value item growth
-
Impactful Top Customer events around the globe and multi-day “money-can´t buy” experiences in partnership with luxury brands, including a mountain experience with Zegna and an exclusive 2-day Nordic winter experience with Moncler Grenoble in
Oslo -
2-week immersive Après-Ski experience to start mid February in
Aspen in cooperation with Bemelmans Bar fromNew York to attract and engage with highly relevant target audience -
Excellent customer satisfaction with Net Promoter Score of
83.3% in Q2 FY25 - Announcement of new group name “LuxExperience” upon expected completion of the YOOX NET-A-PORTER acquisition
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, encompassing NET-A-PORTER, MR PORTER, YOOX and THE OUTNET, 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 calendar 2025, subject to customary conditions, including regulatory approvals.
CONFERENCE CALL AND WEBCAST INFORMATION
Mytheresa will host a conference call to discuss its second quarter of fiscal year 2024 financial results on February 11, 2025 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 (888) 715-9871 (
The participant access code will be 7531135. The conference call replay will be available via webcast through Mytheresa’s Investor Relations website. The telephone replay will be available from 11:00am Eastern Time on February 11, 2025, through February 18, 2025, by dialing +1 (800) 770-2030 (
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. Financial Results and Key Operating Metrics (Amounts in € millions) |
|||||||||||
|
Three Months Ended |
|
Six Months Ended |
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
December
|
|
December
|
|
Change
|
|
December
|
|
December
|
|
Change
|
(in millions) (unaudited) |
|
|
|
|
|
|
|
|
|
|
|
Gross Merchandise Value (GMV) (1) |
|
|
|
|
|
|
|
|
|
|
|
Active customer (LTM in thousands) (1), (2) |
856 |
|
843 |
|
( |
|
856 |
|
843 |
|
( |
Total orders shipped (LTM in thousands) (1), (2) |
2,037 |
|
2,089 |
|
|
|
2,037 |
|
2,089 |
|
|
Net sales |
|
|
|
|
|
|
|
|
|
|
|
Gross profit |
|
|
|
|
|
|
|
|
|
|
|
Gross profit margin(3) |
|
|
|
|
110 BPs |
|
|
|
|
|
140 BPs |
Operating loss |
|
|
|
|
|
|
|
|
|
|
( |
Operating loss margin(3) |
( |
|
( |
|
130 BPs |
|
( |
|
( |
|
(290 BPs) |
Net loss |
|
|
|
|
|
|
|
|
|
|
( |
Net loss margin(3) |
( |
|
( |
|
90 BPs |
|
( |
|
( |
|
(190 BPs) |
Adjusted EBITDA(4) |
|
|
|
|
|
|
|
|
|
|
|
Adjusted EBITDA margin(3) |
|
|
|
|
350 BPs |
|
|
|
|
|
280 BPs |
Adjusted Operating income (loss)(4) |
|
|
|
|
|
|
|
|
|
|
|
Adjusted Operating income (loss) margin(3) |
|
|
|
|
360 BPs |
|
( |
|
|
|
280 BPs |
Adjusted Net income (loss) (4) |
|
|
|
|
|
|
|
|
|
|
|
Adjusted Net income (loss) margin(3) |
|
|
|
|
350 BPs |
|
( |
|
|
|
400 BPs |
(1) |
Definition of GMV, Active customer and Total orders shipped can be found on page 29 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, adjusted net income (loss) are measures not defined under IFRS. For further information about how we calculate these measures and limitations of its use, see page 29 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 loss to EBITDA to adjusted EBITDA, operating loss to adjusted operating income (loss) and net loss to adjusted net income (loss), and their corresponding margins as a percentage of net sales: |
|||||||||||
|
Three Months Ended |
|
Six Months Ended |
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
December
|
|
December
|
|
Change
|
|
December
|
|
December
|
|
Change
|
(in millions) (unaudited) |
|
|
|
|
|
|
|
|
|
|
|
Net loss |
|
|
|
|
|
|
|
|
|
|
( |
Finance costs, net |
|
|
|
|
|
|
|
|
|
|
|
Income tax expense (benefit) |
|
|
|
|
|
|
|
|
|
|
( |
Depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
|
thereof depreciation of right-of use assets |
|
|
|
|
|
|
|
|
|
|
|
thereof impairment loss on property & equipment (3) |
- |
|
- |
|
N/A |
|
- |
|
|
|
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 |
|
|
|
|
350 BPs |
|
|
|
|
|
280 BPs |
|
Three Months Ended |
|
Six Months Ended |
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
December
|
|
December
|
|
Change
|
|
December
|
|
December
|
|
Change
|
(in millions) (unaudited) |
|
|
|
|
|
|
|
|
|
|
|
Operating loss |
|
|
|
|
|
|
|
|
|
|
( |
Other transaction-related, certain legal and other expenses (1) |
|
|
|
|
|
|
|
|
|
|
|
Share-based compensation (2) |
|
|
|
|
|
|
|
|
|
|
( |
Impairment loss on property & equipment (3) |
- |
|
- |
|
N/A |
|
- |
|
|
|
N/A |
Adjusted Operating income (loss) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation to Adjusted Operating income margin |
|
|
|
|
|
|
|
|
|
|
|
Net sales |
|
|
|
|
|
|
|
|
|
|
|
Adjusted Operating income (loss) margin |
|
|
|
|
360 BPs |
|
( |
|
|
|
280 BPs |
|
Three Months Ended |
|
Six Months Ended |
||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
December
|
|
December
|
|
Change
|
|
December
|
|
December
|
|
Change
|
|
|
|
|
|
|
|
|
|
|
|
|
(in millions) (unaudited) |
|
|
|
|
|
|
|
|
|
|
|
Net loss |
|
|
|
|
|
|
|
|
|
|
( |
Other transaction-related, certain legal and other expenses (1) |
|
|
|
|
|
|
|
|
|
|
|
Share-based compensation (2) |
|
|
|
|
|
|
|
|
|
|
( |
Impairment loss on property & equipment (3) |
- |
|
- |
|
N/A |
|
- |
|
|
|
N/A |
Adjusted Net income |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation to Adjusted Net income Margin |
|
|
|
|
|
|
|
|
|
|
|
Net sales |
|
|
|
|
|
|
|
|
|
|
|
Adjusted Net income margin |
|
|
|
|
350 BPs |
|
( |
|
|
|
400 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, (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.
Unaudited Condensed Consolidated Statements of Profit & Loss and Comprehensive Income (Amounts in € thousands, except share and per share data) |
||||||||||||
|
|
|
Three Months Ended |
|
Six Months Ended |
|||||||
|
|
|
|
|
|
|
|
|||||
(in € thousands) |
|
|
December 31,
|
|
December 31,
|
|
December 31,
|
|
December 31,
|
|||
|
|
|
|
|
|
|
|
|
||||
Net sales |
|
|
196,630 |
|
222,985 |
|
384,096 |
|
424,685 |
|||
Cost of sales, exclusive of depreciation and amortization |
|
|
(98,695) |
|
(109,399) |
|
(206,673) |
|
(222,467) |
|||
Gross profit |
|
|
97,935 |
|
113,585 |
|
177,423 |
|
202,219 |
|||
Shipping and payment cost |
|
|
(32,513) |
|
(33,698) |
|
(60,825) |
|
(63,058) |
|||
Marketing expenses |
|
|
(23,458) |
|
(30,076) |
|
(47,157) |
|
(55,069) |
|||
Selling, general and administrative expenses |
|
|
(42,012) |
|
(48,726) |
|
(80,439) |
|
(104,739) |
|||
Depreciation and amortization |
|
|
(3,842) |
|
(3,929) |
|
(7,238) |
|
(11,057) |
|||
Other income (expense), net |
|
|
(887) |
|
302 |
|
(13) |
|
(876) |
|||
Operating loss |
|
|
(4,777) |
|
(2,543) |
|
(18,249) |
|
(32,580) |
|||
Finance income |
|
|
- |
|
- |
|
1 |
|
- |
|||
Finance costs |
|
|
(1,197) |
|
(1,953) |
|
(2,206) |
|
(3,174) |
|||
Finance costs, net |
|
|
(1,197) |
|
(1,953) |
|
(2,205) |
|
(3,174) |
|||
Loss before income taxes |
|
|
(5,974) |
|
(4,496) |
|
(20,455) |
|
(35,753) |
|||
Income tax (expense) benefit |
|
|
161 |
|
(193) |
|
2,468 |
|
7,542 |
|||
Net loss |
|
|
(5,813) |
|
(4,689) |
|
(17,987) |
|
(28,211) |
|||
Cash Flow Hedge |
|
|
1,549 |
|
(4,213) |
|
(195) |
|
(3,178) |
|||
Income Taxes related to Cash Flow Hedge |
|
|
(432) |
|
1,176 |
|
54 |
|
887 |
|||
Foreign currency translation |
|
|
(21) |
|
47 |
|
(33) |
|
18 |
|||
Other comprehensive income (loss) |
|
|
1,096 |
|
(2,990) |
|
(174) |
|
(2,273) |
|||
Comprehensive loss |
|
|
(4,717) |
|
(7,679) |
|
(18,160) |
|
(30,484) |
|||
|
|
|
|
|
|
|
|
|
|
|||
Basic & diluted earnings per share |
|
€ |
(0.07) |
€ |
(0.05) |
|
(0.21) |
€ |
(0.32) |
|||
Weighted average ordinary shares outstanding (basic and diluted) – in millions (1) (basic and diluted) – in millions |
|
|
86.8 |
|
87.2 |
|
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 14 in our quarterly report. |
MYT Netherlands Parent B.V.
Unaudited Condensed Consolidated Statements of Financial Position (Amounts in € thousands) |
|||||
(in € thousands) |
June 30, 2024 |
December 31, 2024 |
|||
Assets |
|
||||
Non-current assets |
|
||||
Intangible assets and goodwill |
|
|
154,951 |
|
155,204 |
Property and equipment |
43,653 |
|
38,901 |
||
Right-of-use assets |
|
|
45,468 |
|
42,862 |
Deferred tax assets |
1,999 |
9,367 |
|||
Other non-current assets |
|
|
7,572 |
|
7,730 |
Total non-current assets |
253,643 |
|
254,064 |
||
Current assets |
|
|
|
||
Inventories |
|
|
370,635 |
|
404,570 |
Trade and other receivables |
11,819 |
|
9,387 |
||
Other assets |
|
|
45,306 |
|
33,983 |
Cash and cash equivalents |
15,107 |
|
13,836 |
||
Total current assets |
|
|
442,867 |
|
461,776 |
Total assets |
696,511 |
|
715,840 |
||
|
|
|
|
||
Shareholders’ equity and liabilities |
|
|
|
||
Subscribed capital |
1 |
|
1 |
||
Capital reserve |
|
|
546,913 |
|
556,489 |
Accumulated Deficit |
(112,767) |
|
(140,978) |
||
Accumulated other comprehensive income |
|
|
1,496 |
|
(777) |
Total shareholders’ equity |
435,643 |
|
414,736 |
||
|
|
|
|
||
Non-current liabilities |
|
|
|
|
|
Provisions |
|
|
2,789 |
|
2,869 |
Lease liabilities |
40,483 |
|
38,795 |
||
Deferred tax liabilities |
|
|
11 |
|
31 |
Total non-current liabilities |
43,282 |
|
41,695 |
||
Current liabilities |
|
|
|
|
|
Borrowings |
|
|
- |
|
40,594 |
Tax liabilities |
|
|
10,643 |
|
8,403 |
Lease liabilities |
|
|
9,282 |
|
8,561 |
Contract liabilities |
17,104 |
|
16,919 |
||
Trade and other payables |
|
|
85,322 |
|
71,923 |
Other liabilities |
95,235 |
|
113,010 |
||
Total current liabilities |
|
|
217,585 |
|
259,410 |
Total liabilities |
260,867 |
|
301,105 |
||
Total shareholders’ equity and liabilities |
|
|
696,511 |
|
715,840 |
MYT Netherlands Parent B.V.
Unaudited Condensed 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 |
|
- |
|
- |
|
(17,987) |
|
- |
|
- |
|
(17,987) |
Other comprehensive income |
|
- |
|
- |
|
- |
|
(141) |
|
(33) |
|
(174) |
Comprehensive loss |
|
- |
|
- |
|
(17,987) |
|
(141) |
|
(33) |
|
(18,160) |
Share-based compensation |
|
- |
|
11,336 |
|
- |
|
- |
|
- |
|
11,336 |
Balance as of December 31, 2023 |
|
1 |
|
541,111 |
|
(105,843) |
|
(141) |
|
1,476 |
|
436,604 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of July 1, 2024 |
|
1 |
|
546,913 |
|
(112,767) |
|
- |
|
1,496 |
|
435,643 |
Net loss |
|
- |
|
- |
|
(28,211) |
|
- |
|
- |
|
(28,211) |
Other comprehensive loss |
|
- |
|
- |
|
- |
|
(2,291) |
|
18 |
|
(2,273) |
Comprehensive loss |
|
- |
|
- |
|
(28,211) |
|
(2,291) |
|
18 |
|
(30,484) |
Reclassification due to cash settlement of share-based compensation |
|
- |
|
(66) |
|
- |
|
- |
|
- |
|
(66) |
Share-based compensation |
|
- |
|
9,642 |
|
- |
|
- |
|
- |
|
9,642 |
Balance as of December 31, 2024 |
|
1 |
|
556,489 |
|
(140,978) |
|
(2,291) |
|
1,514 |
|
414,736 |
MYT Netherlands Parent B.V.
Unaudited Condensed Consolidated Statements of Cash Flows (Amounts in € thousands) |
|||||
Six months ended December 31, |
|||||
(in € thousands) |
2023 |
|
2024 |
||
Net loss |
|
|
(17,987) |
|
(28,211) |
Adjustments for |
|
|
|
|
|
Depreciation and amortization |
|
|
7,238 |
|
11,057 |
Finance costs, net |
|
|
2,205 |
|
3,174 |
Share-based compensation |
|
|
11,336 |
|
9,642 |
Income tax expense (benefit) |
|
|
(2,468) |
|
(7,542) |
Change in operating assets and liabilities |
|
|
|
|
|
Increase in inventories |
|
|
(49,733) |
|
(33,935) |
Decrease (increase) in trade and other receivables |
|
|
(7,995) |
|
2,432 |
Decrease in other assets |
|
|
6,585 |
|
11,121 |
Increase in other liabilities |
|
|
7,017 |
|
14,403 |
(Decrease) increase in contract liabilities |
|
|
1,205 |
|
(185) |
(Decrease) increase in trade and other payables |
|
|
32,198 |
|
(13,405) |
Income taxes paid |
|
|
(4,371) |
|
(1,158) |
Net cash used in operating activities |
|
|
(14,770) |
|
(32,607) |
Expenditure for property and equipment and intangible assets |
|
|
(4,551) |
|
(1,708) |
Net cash (used in) investing activities |
|
|
(4,551) |
|
(1,708) |
Interest paid |
|
|
(2,205) |
|
(3,045) |
Proceeds from borrowings |
|
|
1,404 |
|
40,594 |
Cash settlement of share-based compensation |
|
|
- |
|
(66) |
Payment of lease liabilities |
|
|
(3,515) |
|
(4,572) |
Net cash inflow (outflow) from financing activities |
|
|
(4,316) |
|
32,911 |
Net decrease in cash and cash equivalents |
|
|
(23,638) |
|
(1,404) |
Cash and cash equivalents at the beginning of the period |
|
|
30,136 |
|
15,107 |
Effects of exchange rate changes on cash and cash equivalents |
|
|
(61) |
|
134 |
Cash and cash equivalents at end of the period |
|
|
6,437 |
|
13,836 |
View source version on businesswire.com: https://www.businesswire.com/news/home/20250211117505/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.
FAQ
What was Mytheresa's (MYTE) net sales growth in Q2 FY25?
How much will Richemont own of Mytheresa (MYTE) after the YNAP acquisition?
What is Mytheresa's (MYTE) projected GMV growth for fiscal year 2025?
What was Mytheresa's (MYTE) Average Order Value in Q2 FY25?
What was Mytheresa's (MYTE) US market performance in Q2 FY25?
