Q3 FY24 Results: Mytheresa Posts +18% Net Sales Growth and a Significantly Improved Adjusted EBITDA Margin Compared to the Previous Year Quarter
Mytheresa (NYSE: MYTE) announced its Q3 FY24 financial results, showcasing strong performance with a +17.6% increase in net sales to €233.9 million and a +14.7% growth in GMV to €252.2 million. The U.S. market led growth with a record +41.6% GMV increase and +48.3% growth in top US customers. Average Order Value also hit a record €692, up +8.0%. Adjusted EBITDA margin improved to 3.9% from the prior year. Key business highlights included collaborations with luxury brands and new Retail Media services. Mytheresa confirmed its full-year guidance for GMV and Net Sales growth of 8%-13% and an adjusted EBITDA margin of 3%-5%.
Financial highlights include a 12% growth in Gross Profit to €101.6 million and lower inventory growth at 11.9%, securing future financing through a new multi-year revolving credit agreement. Key initiatives like high-impact customer activations and exclusive collections contributed to its strong market performance.
- Net sales increased by +17.6% to €233.9 million.
- GMV grew by +14.7% to €252.2 million.
- Gross Profit increased by 12% to €101.6 million.
- Adjusted EBITDA margin improved to 3.9%.
- Record Average Order Value of €692, up +8.0%.
- U.S. business GMV growth of +41.6%.
- Top US customers grew by +48.3%.
- Top customer growth globally increased by +17.0%.
- Lower inventory growth of 11.9%, below topline growth.
- Secured new multi-year revolving credit agreement.
- Launch of Mytheresa Retail Media services for brand partners.
- Continued ramp-up of new distribution center in Leipzig.
- Guidance for the full fiscal year 2024 indicates Gross Profit will stay at last year's level.
- Full-year GMV and Net Sales growth expected at the lower end of the 8%-13% range.
- Adjusted EBITDA margin guidance at the lower end of 3%-5% range.
Insights
The recent financial results for Mytheresa exhibit significant positive momentum. Net sales grew by 17.6% year-over-year, reaching
One noteworthy aspect is the U.S. market performance, where GMV grew by an astounding 41.6%. This suggests that Mytheresa's strategic focus on the U.S. market has been highly effective, significantly contributing to the overall growth. Moreover, the number of 'Top Customers' in the U.S. saw a 48.3% increase, which is important for sustained revenue growth as these customers tend to have high lifetime value.
Profitability also saw a meaningful improvement, with the Adjusted EBITDA margin rising to 3.9% from the previous year's period. This improvement in profitability is notable given the relatively tough economic environment. The lower inventory growth of 11.9%, which is below top-line growth, reflects efficient inventory management and cost control.
Mytheresa's performance can be seen as a strong indicator of the shifting dynamics in the luxury e-commerce segment. The company's success in the U.S., marked by record GMV and customer growth, may reflect broader trends favoring digital over traditional retail. This growth could signify that Mytheresa is capturing market share from competitors, particularly in a consolidating luxury e-commerce landscape.
The launch of exclusive capsule collections and collaborations with high-end brands such as Gucci and Saint Laurent is a strategic move that likely enhances customer engagement and brand loyalty. Additionally, the rollout of Mytheresa Retail Media services points to a diversification in revenue streams, potentially transforming the platform into a multi-faceted digital ecosystem for luxury brands.
The improved Net Promoter Score (NPS) of 80.6% suggests high customer satisfaction, which is essential for customer retention and long-term growth. As consumers increasingly value personalized and exclusive experiences, Mytheresa's tailored activations and events in key markets like Europe, the U.S. and Asia present significant opportunities for brand differentiation.
Mytheresa's continued ramp-up of their new distribution center in Leipzig is a critical element of their operational strategy. Processing more than 60% of customer orders through this new facility by the end of March indicates a significant step towards optimizing logistics and improving delivery times. Efficient logistics are fundamental for e-commerce companies, particularly in the luxury segment, where customer expectations for service quality are high.
Additionally, the conversion of their Revolving Credit Facility into a new multi-year agreement is a strategic financial decision that secures long-term funding. This can support ongoing growth initiatives and technology investments, essential for maintaining competitive advantage in the fast-evolving e-commerce landscape.
-
Excellent top-line growth with Net Sales growing +
17.6% and GMV +14.7% in Q3 FY24 -
Mytheresa US business outperformance with record GMV growth of +
41.6% and +48.3% growth of US Top Customers in Q3 FY24 -
Continued strong global Top Customers growth with number of Top Customers growing by +
17.0% in Q3 FY24 -
Significant growth of Average Order Value LTM increasing by +
8.0% to a record high of€692 in Q3 FY24 - Significantly improved profitability on adjusted EBITDA level during the quarter as compared to the prior year period
Mytheresa’s third quarter performance exhibits highly accelerated top-line growth, strong expansion of Top Customer revenues and significantly improved profitability. The business in
Michael Kliger, Chief Executive Officer of Mytheresa, said, “We are very pleased with the strong performance in the third quarter. Double-digit revenue growth, double-digit Top Customer growth and a very high growth US business underscore that Mytheresa is not just a luxury e-commerce platform. We build a community for luxury enthusiasts and create desirability through digital and physical experiences.”
Kliger continued, “We see ourselves as one of the few winners in an otherwise still tough market environment. We clearly gain market share with our above average growth rates. We are benefiting from the consolidating landscape of luxury e-commerce players in a market that has huge growth prospects based on changing customer preferences favoring digital channels.”
FINANCIAL HIGHLIGHTS FOR THE THIRD QUARTER ENDED MARCH 31, 2024
-
Net sales increase +
17.6% year-over-year to€233.9 million -
GMV growth of +
14.7% to€252.2 million in Q3 FY24 as compared to€219.8 million in the prior year period -
Gross Profit growth of
12% to€101.6 million with43.4% Gross Profit margin -
Significantly improved Adjusted EBITDA margin of
3.9% as compared to Q3 FY23 -
Lower inventory growth in Q3 FY24 of
11.9% - significantly below topline growth - Successful conversion of the Revolving Credit Facility into a new multi-year agreement securing financing for our continuous growth strategy
KEY BUSINESS HIGHLIGHTS
- Launch of exclusive capsule collections and pre-launches in collaboration with Gucci, Bottega Veneta, Saint Laurent, Loewe, Givenchy, Brunello Cucinelli and many more
-
High-impact top customer activations and truly “money can’t buy” experiences held in
Europe , the US andAsia , including a VIC dinner in collaboration with Khaite (Paris ) - A 24-hour brand and customer experience with three events together with Courrèges at Shanghai Fashion Week, featuring an exhibition, designer talk and VIC & press dinner
-
Excellent customer satisfaction with a much improved Net Promoter Score of
80.6% in Q3 FY24 - Launch of Mytheresa Retail Media services to provide selected brand partners with paid media placements
-
Continued ramp-up of new distribution center in
Leipzig with more than60% of all customer orders processed at the end of March
For the full fiscal year ending June 30, 2024, we expect total Gross Profit to be on last year’s level and we confirm our guidance for the top- and bottom-line at the lower end of the ranges:
-
GMV and Net Sales growth in the range of
8% 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.
CONFERENCE CALL AND WEBCAST INFORMATION
Mytheresa will host a conference call to discuss its third quarter of fiscal year 2024 financial results on May 15, 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 (
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 May 15, 2024, through May 22, 2024, 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, the impact of the COVID-19 global pandemic; the impact of restrictions on use of identifiers for advertisers (IDFA); 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 global luxury e-commerce 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 and kidswear. In 2022, Mytheresa expanded its luxury offering to home décor and lifestyle products with the launch of the category “Life”. The highly curated edit of over 200 brands focuses on true luxury brands such as Bottega Veneta, Burberry, Dolce&Gabbana, Gucci, Loewe, Loro Piana, Moncler, Prada, Saint Laurent, 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 (Amounts in € millions) |
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Three Months Ended |
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Nine months Ended |
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March 31, 2023 |
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March 31, 2024 |
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Change in % / BPs |
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March 31, 2023 |
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March 31, 2024 |
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Change in % / BPs |
(in millions) (unaudited) |
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Gross Merchandise Value (GMV) (1) |
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Active customer (LTM in thousands) (1), (2) |
838 |
|
862 |
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838 |
|
862 |
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Total orders shipped (LTM in thousands) (1), (2) |
1.970 |
|
2,065 |
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|
1.970 |
|
2,065 |
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Net sales |
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Gross profit |
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|
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( |
Gross profit margin(3) |
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(220 BPs) |
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|
(480 BPs) |
Operating Loss |
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|
|
|
( |
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|
|
|
|
|
Operating Loss margin(3) |
( |
|
( |
|
240 BPs |
|
( |
|
( |
|
(240 BPs) |
Net Loss |
|
|
|
|
( |
|
|
|
|
|
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Net Loss margin(3) |
( |
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( |
|
130 BPs |
|
( |
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( |
|
(160 BPs) |
Adjusted EBITDA(4) |
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|
|
|
|
|
|
|
|
|
( |
Adjusted EBITDA margin(3) |
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|
|
|
230 BPs |
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|
|
|
|
(340 BPs) |
Adjusted Operating Income(4) |
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|
|
|
|
|
|
|
|
|
( |
Adjusted Operating Income margin(3) |
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|
220 BPs |
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|
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|
(370 BPs) |
Adjusted Net Income (4) |
|
|
|
|
|
|
|
|
|
|
( |
Adjusted Net Income margin(3) |
|
|
|
|
110 BPs |
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|
|
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|
(280 BPs) |
(1) |
Definition of GMV, Active customer and Total orders shipped can be found on page 27 in our quarterly report. |
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(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. |
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(3) |
As a percentage of net sales. |
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(4) |
EBITDA, adjusted EBITDA, adjusted Operating Income, 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 27. |
MYT Netherlands Parent B.V. |
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Financial Results and Key Operating Metrics (Amounts in € millions) |
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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: |
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Three Months Ended |
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Nine months Ended |
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March 31, 2023 |
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March 31, 2024 |
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Change in % |
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March 31, 2023 |
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March 31, 2024 |
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Change in % |
(in millions) (unaudited) |
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Net loss |
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( |
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Finance costs, net |
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|
|
|
Income tax expense (benefit) |
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( |
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( |
Depreciation and amortization |
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|
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|
|
|
|
|
|
thereof depreciation of right-of use assets |
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|
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|
|
|
|
EBITDA |
|
|
|
|
( |
|
|
|
|
|
( |
Other transaction-related, certain legal and other expenses (1) |
|
|
|
|
|
|
|
|
|
|
|
Share-based compensation (2) |
|
|
|
|
( |
|
|
|
|
|
( |
Adjusted EBITDA |
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|
|
|
|
|
|
|
|
|
( |
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Reconciliation to Adjusted EBITDA Margin |
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Net Sales |
|
|
|
|
|
|
|
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|
|
|
Adjusted EBITDA margin |
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|
|
|
230 BPs |
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|
|
|
|
(340 BPs) |
|
Three Months Ended |
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Nine months Ended |
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|
March 31, 2023 |
|
March 31, 2024 |
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Change in % |
|
March 31, 2023 |
|
March 31, 2024 |
|
Change in % |
(in millions) (unaudited) |
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|
|
|
|
Operating Loss |
|
|
|
|
( |
|
|
|
|
|
|
Other transaction-related, certain legal and other expenses (1) |
|
|
|
|
|
|
|
|
|
|
|
Share-based compensation (2) |
|
|
|
|
( |
|
|
|
|
|
( |
Adjusted Operating Income |
|
|
|
|
|
|
|
|
|
|
( |
|
|
|
|
|
|
|
|
|
|
|
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Reconciliation to Adjusted Operating Income Margin |
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|
|
|
|
|
|
|
|
|
|
Net Sales |
|
|
|
|
|
|
|
|
|
|
|
Adjusted Operating Income margin |
|
|
|
|
220 BPs |
|
|
|
|
|
(370 BPs) |
|
Three Months Ended |
|
Nine months Ended |
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|
March 31, 2023 |
|
March 31, 2024 |
|
Change in % |
|
March 31, 2023 |
|
March 31, 2024 |
|
Change in % |
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(in millions) (unaudited) |
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|
|
|
|
|
|
|
|
Net loss |
|
|
|
|
( |
|
|
|
|
|
|
Other transaction-related, certain legal and other expenses (1) |
|
|
|
|
|
|
|
|
|
|
|
Share-based compensation (2) |
|
|
|
|
( |
|
|
|
|
|
( |
Adjusted Net Income |
|
|
|
|
|
|
|
|
|
|
( |
|
|
|
|
|
|
|
|
|
|
|
|
Reconciliation to Adjusted Net Income Margin |
|
|
|
|
|
|
|
|
|
|
|
Net Sales |
|
|
|
|
|
|
|
|
|
|
|
Adjusted Net Income margin |
|
|
|
|
110 BPs |
|
|
|
|
|
(280 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 establishing our new central warehouse in |
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(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. We do not consider share-based compensation expense to be indicative of our core operating performance. |
MYT Netherlands Parent B.V. |
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|
|
|
|
|
|
|
|
|
|
Unaudited Condensed Consolidated Statements of Profit and Comprehensive Income (Amounts in € thousands, except share and per share data) |
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|
|
Three Months Ended |
|
Nine months Ended |
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|
|
|
|
|
|
|
|
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(in € thousands) |
|
|
March 31, 2023 |
|
March 31, 2024 |
|
March 31, 2023 |
|
March 31, 2024 |
|
|
|
|
|
|
|
|
|
|
Net sales |
|
|
198,883 |
|
233,896 |
|
564,866 |
|
618,703 |
Cost of sales, exclusive of depreciation and amortization |
|
|
(108,137) |
|
(132,290) |
|
(282,157) |
|
(338,964) |
Gross profit |
|
|
90,746 |
|
101,605 |
|
282,708 |
|
279,739 |
Shipping and payment cost |
|
|
(31,497) |
|
(39,296) |
|
(83,810) |
|
(100,121) |
Marketing expenses |
|
|
(25,729) |
|
(23,090) |
|
(79,885) |
|
(70,247) |
Selling, general and administrative expenses |
|
|
(36,189) |
|
(37,124) |
|
(112,922) |
|
(117,563) |
Depreciation and amortization |
|
|
(3,132) |
|
(3,885) |
|
(8,480) |
|
(11,124) |
Other expense (income), net |
|
|
(618) |
|
12 |
|
(1,390) |
|
(1) |
Operating loss |
|
|
(6,419) |
|
(1,778) |
|
(3,779) |
|
(19,317) |
Finance income |
|
|
98 |
|
2 |
|
345 |
|
3 |
Finance costs |
|
|
(807) |
|
(1,285) |
|
(1,846) |
|
(3,491) |
Finance costs, net |
|
|
(709) |
|
(1,283) |
|
(1,501) |
|
(3,488) |
Loss before income taxes |
|
|
(7,128) |
|
(3,061) |
|
(5,280) |
|
(22,805) |
Income tax (expense) benefit |
|
|
1,994 |
|
69 |
|
(4,122) |
|
2,537 |
Net loss |
|
|
(5,134) |
|
(2,992) |
|
(9,402) |
|
(20,268) |
Cash Flow Hedge |
|
|
(650) |
|
(287) |
|
1,051 |
|
(482) |
Income Taxes related to Cash Flow Hedge |
|
|
181 |
|
80 |
|
(293) |
|
134 |
Foreign currency translation |
|
|
(11) |
|
21 |
|
16 |
|
(12) |
Other comprehensive income (loss) |
|
|
(480) |
|
(186) |
|
774 |
|
(360) |
Comprehensive loss |
|
|
(5,614) |
|
(3,178) |
|
(8,628) |
|
(20,627) |
|
|
|
|
|
|
|
|
|
|
Basic & diluted earnings per share |
|
€ |
(0.06) |
€ |
(0.03) |
€ |
(0.11) |
€ |
(0.23) |
Weighted average ordinary shares outstanding (basic and diluted) – in millions (1) |
|
|
86.6 |
|
86.8 |
|
86.6 |
|
86.8 |
(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 of our quarterly report. |
MYT Netherlands Parent B.V. |
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Unaudited Condensed Consolidated Statements of Financial Position (Amounts in € thousands) |
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(in € thousands) |
June 30, 2023 |
March 31, 2024 |
|||
Assets |
|
||||
Non-current assets |
|
||||
Intangible assets and goodwill |
|
|
155,283 |
|
154,925 |
Property and equipment |
37,227 |
|
42,982 |
||
Right-of-use assets |
|
|
54,797 |
|
47,773 |
Deferred tax assets |
59 |
|
1,259 |
||
Other non-current assets |
|
|
6,573 |
|
6,927 |
Total non-current assets |
253,939 |
|
253,866 |
||
Current assets |
|
|
|
||
Inventories |
|
|
360,262 |
|
364,657 |
Trade and other receivables |
7,521 |
|
13,980 |
||
Other assets |
|
|
42,113 |
|
37,842 |
Cash and cash equivalents |
30,136 |
|
10,587 |
||
Total current assets |
|
|
440,031 |
|
427,067 |
Total assets |
693,971 |
|
680,932 |
||
|
|
|
|
||
Shareholders’ equity and liabilities |
|
|
|
||
Subscribed capital |
1 |
|
1 |
||
Capital reserve |
|
|
529,775 |
|
544,096 |
Accumulated Deficit |
(83,855) |
|
(104,123) |
||
Accumulated other comprehensive income |
|
|
1,509 |
|
1,149 |
Total shareholders’ equity |
447,430 |
|
441,124 |
||
|
|
|
|
||
Non-current liabilities |
|
|
|
|
|
Provisions |
|
|
2,646 |
|
2,750 |
Lease liabilities |
49,518 |
|
42,796 |
||
Deferred tax liabilities |
|
|
726 |
|
- |
Total non-current liabilities |
52,889 |
|
45,546 |
||
Current liabilities |
|
|
|
|
|
Borrowings |
|
|
- |
|
26,066 |
Tax liabilities |
|
|
24,073 |
|
9,349 |
Lease liabilities |
|
|
8,155 |
|
9,155 |
Contract liabilities |
11,414 |
|
9,016 |
||
Trade and other payables |
|
|
71,085 |
|
49,915 |
Other liabilities |
78,924 |
|
90,763 |
||
Total current liabilities |
|
|
193,652 |
|
194,262 |
Total liabilities |
246,541 |
|
239,808 |
||
Total shareholders’ equity and liabilities |
|
|
693,971 |
|
680,932 |
MYT Netherlands Parent B.V. |
||||||||||||
Unaudited Condensed Consolidated Statements of Changes in Equity (Amounts in € thousands) |
||||||||||||
(in € thousands) |
|
Subscribed capital |
|
Capital reserve |
|
Accumulated deficit |
|
Hedging reserve |
|
Foreign currency translation reserve |
|
Total shareholders’ equity |
Balance as of July 1, 2022 |
|
1 |
|
498,872 |
|
(68,734) |
|
- |
|
1,528 |
|
431,667 |
Net loss |
|
- |
|
- |
|
(9,402) |
|
- |
|
- |
|
(9,402) |
Other comprehensive income |
|
- |
|
- |
|
- |
|
758 |
|
16 |
|
774 |
Comprehensive loss |
|
- |
|
- |
|
(9,402) |
|
758 |
|
16 |
|
(8,628) |
Share options exercised |
|
- |
|
1,077 |
|
- |
|
- |
|
- |
|
1,077 |
Share-based compensation |
|
- |
|
25,307 |
|
- |
|
- |
|
- |
|
25,307 |
Reclassification due to cash-settlement of Share-based compensation (1) |
|
- |
|
(57) |
|
- |
|
- |
|
- |
|
(57) |
Balance as of March 31, 2023 |
|
1 |
|
525,199 |
|
(78,136) |
|
758 |
|
1,544 |
|
449,366 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of July 1, 2023 |
|
1 |
|
529,775 |
|
(83,855) |
|
- |
|
1,509 |
|
447,430 |
Net loss |
|
- |
|
- |
|
(20,268) |
|
- |
|
- |
|
(20,268) |
Other comprehensive loss |
|
- |
|
- |
|
- |
|
(347) |
|
(12) |
|
(360) |
Comprehensive loss |
|
- |
|
- |
|
(20,268) |
|
(347) |
|
(12) |
|
(20,627) |
Share-based compensation |
|
- |
|
14,321 |
|
- |
|
- |
|
- |
|
14,321 |
Balance as of March 31, 2024 |
|
1 |
|
544,096 |
|
(104,123) |
|
(347) |
|
1,496 |
|
441,124 |
(1) |
For further details, refer to note 13 in our quarterly report. |
MYT Netherlands Parent B.V. |
|||||
Unaudited Condensed Consolidated Statements of Cash Flows (Amounts in € thousands) |
|||||
Nine months ended March 31, |
|||||
(in € thousands) |
2023 |
|
2024 |
||
Net loss |
|
|
(9,402) |
|
(20,268) |
Adjustments for |
|
|
|
|
|
Depreciation and amortization |
|
|
8,480 |
|
11,124 |
Finance costs, net |
|
|
1,501 |
|
3,488 |
Share-based compensation |
|
|
25,250 |
|
14,184 |
Income tax expense (benefit) |
|
|
4,122 |
|
(2,537) |
Change in operating assets and liabilities |
|
|
|
|
|
Increase in inventories |
|
|
(95,726) |
|
(4,396) |
Decrease (increase) in trade and other receivables |
|
|
2,257 |
|
(6,455) |
Decrease in other assets |
|
|
12,784 |
|
5,013 |
(Decrease) increase in other liabilities |
|
|
(16,023) |
|
11,376 |
(Decrease) in contract liabilities |
|
|
(2,806) |
|
(2,398) |
(Decrease) increase in trade and other payables |
|
|
(8,665) |
|
(21,171) |
Income taxes paid |
|
|
(4,772) |
|
(14,349) |
Net cash used in operating activities |
|
|
(83,000) |
|
(26,389) |
Expenditure for property and equipment and intangible assets |
|
|
(18,897) |
|
(9,411) |
Proceeds from sale of property and equipment and intangible assets |
|
|
2 |
|
- |
Net cash used in investing activities |
|
|
(18,895) |
|
(9,411) |
Interest paid |
|
|
(1,501) |
|
(4,133) |
Proceeds from borrowings |
|
|
4,899 |
|
26,066 |
Proceeds from exercise of option awards |
|
|
1,077 |
|
- |
Payment of lease liabilities |
|
|
(3,026) |
|
(5,703) |
Net cash inflow from financing activities |
|
|
1,449 |
|
16,230 |
Net decrease in cash and cash equivalents |
|
|
(100,446) |
|
(19,570) |
Cash and cash equivalents at the beginning of the period |
|
|
113,507 |
|
30,136 |
Effects of exchange rate changes on cash and cash equivalents |
|
|
(120) |
|
21 |
Cash and cash equivalents at end of the period |
|
|
12,940 |
|
10,587 |
View source version on businesswire.com: https://www.businesswire.com/news/home/20240515210118/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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