- Erfolgreiches Geschäftsjahr 2022 mit einem Wachstum des
Bruttowarenwerts (GMV) um 21,3% auf 747,3 Millionen Euro und einer
bereinigten EBITDA-Marge von 9,6% gegenüber 9,0% im
Vorjahr
- Hervorragendes zweijähriges GMV-Wachstum von 66,3% (GJ22
gegenüber GJ20) und dreijährigem GMV-Wachstum von 97,1% (GJ22
gegenüber GJ19)
- Bruttogewinnwachstum von 24% für das gesamte GJ22
- Prognose für das GJ23 mit einem GMV-Wachstum von 16% bis 22%
bei einer stabilen bereinigten EBITDA-Marge von 9,0% bis
9,5%
MYT Netherlands Parent B.V. (NYSE: MYTE) ("Mytheresa" oder das
"Unternehmen"), die Muttergesellschaft der Mytheresa Group GmbH,
gab heute die Finanzergebnisse für das vierte Quartal und das
gesamte Geschäftsjahr 2022 bekannt, welches am 30. Juni endete. Die
digitale Multibrand-Luxusplattform verzeichnete hervorragende
Ergebnisse für das gesamte Geschäftsjahr und ein weiteres Quartal
mit anhaltendem Umsatzwachstum und erh�hter Profitabilität.
Mytheresa sieht sich perfekt positioniert, um von der anhaltenden
Veränderung des Kaufverhaltens des Luxuskonsumenten hin zu
digitalen Angeboten, der Konsolidierung im digitalen Luxussektor
und den M�glichkeiten weitere Marktanteile global zu gewinnen, zu
profitieren.
Michael Kliger, Chief Executive Officer von Mytheresa,
sagt, "Unsere hervorragenden Finanzergebnisse für das Geschäftsjahr
2022 sowie für das vierte Quartal stellen uns an die Spitze der
digitalen Plattformen. Die Ergebnisse unterstreichen die
einzigartige Positionierung und das Geschäftsmodell von Mytheresa.
Wir haben starkes Wachstum und hohe Rentabilität vor dem
Hintergrund wirtschaftlicher und geopolitischer Herausforderungen
gezeigt. Wir sind nach wie vor sehr zuversichtlich, dass der
digitale high-end Luxussektor in Kombination mit unserem
einzigartigen Geschäftsmodell in den kommenden Jahren hervorragende
Ergebnisse für unsere Investoren liefern wird. Natürlich werden wir
auch weiterhin sehr flexibel auf externe Entwicklungen und deren
m�gliche Auswirkungen auf unser Geschäft reagieren."
Kliger ergänzt, "Im vierten Quartal hat sich unser GMV-Wachstum
im Vergleich zu Q3 erneut beschleunigt. Wir verzeichneten ein
überdurchschnittliches GMV-Wachstum in den Vereinigten Staaten, wo
wir unsere Position als Top-Adresse für Luxuskonsumenten stärken
konnten. Die Kundenbindung ist weiter gestiegen, was für unsere
einzigartige Positionierung spricht, die einen sehr wertvollen
Multibrand-Kunden anzieht, der unseren exzellenten Service schätzt.
Wir sehen uns als einen der wenigen Gewinner in dem sich deutlich
konsolidierenden Luxus-E-Commerce-Bereich."
FINANZIELLE HIGHLIGHTS FÜR DAS VIERTE QUARTAL ZUM 30. JUNI
2022
- Wachstum des GMV um 18,2% im Jahresvergleich auf 196,7 Mio.
€, verglichen mit 166,4 Mio. € im Vorjahreszeitraum
- Anstieg des Nettoumsatzes um 12,5 Mio. € bzw. 7,7% im
Jahresvergleich auf 174,8 Mio. €. Aufgrund der geplanten Umstellung
von Marken auf das Curated Platform Model (CPM) und der daraus
resultierenden Erfassung der Plattformgebühr als Nettoumsatz ist
der Anstieg langsamer als bei GMV
- Wachstum des Bruttogewinns von 22,4%. Anstieg der
Bruttogewinnmarge um 650 Basispunkte auf 54,2% im Vergleich zu
47,7% im Vorjahreszeitraum. Dies ist in erster Linie auf einen
Anstieg der Umsätze aus dem CPM zurückzuführen, welches eine
Bruttomarge von 100% erzielt
- Wachstum des bereinigten EBITDA um 22,7% auf 13,8 Mio. € und
Anstieg der bereinigten EBITDA-Marge um 100 Basispunkte auf 7,9% im
Vergleich zum Vorjahreszeitraum
- Bereinigte operative Gewinnmarge von 6,5%, verglichen mit
5,6% im Vorjahreszeitraum
- Bereinigte Nettogewinnmarge von 6,7%, verglichen mit 4,7% im
Vorjahreszeitraum
FINANZIELLE HIGHLIGHTS FÜR DIE ZWÖLF MONATE BIS ZUM 30. JUNI
2022
- Wachstum des GMV um 21,3% auf 747,3 Mio. € von 616,1 Mio. €
im Geschäftsjahr 2021
- Anstieg des Nettoumsatzes auf 689,8 Mio. € bzw. 12,7%
gegenüber 612,1 Mio. € im Geschäftsjahr 2021
- Wachstum des Bruttogewinns um 23,7%. Anstieg der
Bruttogewinnmarge um 460 Basispunkte auf 51,5% gegenüber 46,9% im
Vorjahr. Dies ist in erster Linie auf einen Anstieg der Umsätze aus
dem CPM zurückzuführen, welches eine Bruttomarge von 100%
erzielt
- Wachstum des bereinigten EBITDA um 20,7% auf 66,3 Mio. € und
Anstieg der bereinigten EBITDA-Marge um 60 Basispunkte auf 9,6% im
Vergleich zum vorherigen Geschäftsjahr
- Bereinigte operative Gewinnmarge von 8,3% im Vergleich zu
7,6% im vorangegangenen vollen Geschäftsjahr
- Anstieg der bereinigten Nettogewinnmarge um 130 Basispunkte
auf 6,5% für das gesamte Geschäftsjahr 2022
- Nettozunahme der Zahlungsmittel und
Zahlungsmitteläquivalente im Zw�lfmonatszeitraum um 36,8 Mio.
€
AKTUELLE GESCHÄFTLICHE HIGHLIGHTS
Starke globale Expansion:
- Beschleunigtes globales GMV-Wachstum mit +18,2% gegenüber Q4
GJ21 und starkes Wachstum im gesamten GJ22 von +21,3% gegenüber
GJ21 sowie +66,3% gegenüber GJ20
- Erneut überdurchschnittliches GMV-Wachstum in den Vereinigten
Staaten mit +28,0% gegenüber Q4 GJ21
- Rekordzahl außergew�hnlicher Events für Topkunden und
-kundinnen in ganz Europa und den Vereinigten Staaten
- Erfolgreiche Einführung der neuen LIFE-Kategorie, die
Wohnaccessoires und andere Lifestyle-Produkte anbietet und
zukünftige Wachstumspotentiale er�ffnet
Kontinuierliche Markenpartnerschaften:
- Rekordzahl exklusiver Capsule Collections und Pre-Launches in
Zusammenarbeit mit Dolce&Gabbana, Dries Van Noten, Pucci,
Bottega Veneta, Gucci, Zimmermann, Valentino und vielen
anderen
- Digitaler Pop-up mit Rimowa zur Präsentation der „Originals“
sowie Weltpremiere der neuen Farbpalette "Quartz"
- Kontinuierliche Implementierung des Curated Platform Model
(CPM) von aktuell 6 Luxusmarken mit starken Finanz-KPIs
Hochwertiges Kundenwachstum:
- LTM-Wachstum der aktiven Kunden um 16,4% auf 781.000
Kunden
- Solide Anzahl von Erstkäufern in Q4 GJ22 mit über 120.000
Kunden
- Positiver Trend der Wiederkaufsraten der im 2. Quartal des GJ22
neu gewonnenen Kundenkohorten im Vergleich zur Kohorte im 2.
Quartal des GJ21
- Starkes Wachstum der Anzahl an Top-Kunden mit 22,1% in Q4 GJ22
gegenüber Q4 GJ21 sowie ein Anstieg des durchschnittlichen GMV pro
Kunde von 5,8% in Q4 GJ22 gegenüber Q4 GJ21
Konstant starke operative Leistung:
- Planmäßiger Verlauf des Baus des neuen Lagers am Flughafen
Leipzig, welches voraussichtlich im GJ24 er�ffnet wird und starke
Vorteile im Service für die Kunden- und Kundinnen bringen wird
- Anhaltende sehr hohe Kundenzufriedenheit mit einem
branchenführenden Net Promoter Score von 83,2% in Q4 GJ22
- Starke Bruttogewinnmarge von 54,2% im 4. Quartal des GJ22,
basierend auf dem anhaltenden Fokus auf das Vollpreisgeschäft und
dem steigenden Anteil von CPM, welches 100% Bruttogewinn
generiert
- Alle operativen Indikatoren zeigten im GJ22 ein exzellentes
Niveau an Widerstandsfähigkeit und Anpassungsfähigkeit des
Mytheresa-Geschäftsmodells trotz schwieriger
Geschäftsbedingungen
GESCHÄFTSAUSBLICK
Für das gesamte Geschäftsjahr, das am 30. Juni 2023 endet,
erwarten wir:
- GMV in der Spanne von 865 bis 910 Mio. €, was einem Wachstum
von 16% bis 22% entspricht
- Nettoumsatz von 755 bis 800 Mio. €, was einem Wachstum von 10%
bis 16% entspricht
- Bruttogewinn von 410 bis 435 Mio. €, was einem Wachstum von 16%
bis 22% entspricht
- Bereinigtes EBITDA in der Gr�ßenordnung von 68 bis 76 Mio. €
und eine bereinigte EBITDA-Marge von 9,0% bis 9,5%.
Mittelfristig bestätigen wir unsere Ziele eines jährlichen
GMV-Wachstums von 22% bis 25% sowie einer leicht steigenden
bereinigten EBITDA-Marge von 9% bis 10%.
Die vorstehenden zukunftsgerichteten Aussagen spiegeln die
Erwartungen von Mytheresa zum heutigen Datum wider. In Anbetracht
einer Reihe von Risikofaktoren, Ungewissheiten und Annahmen, die im
Folgenden erläutert werden, k�nnen die tatsächlichen Ergebnisse
erheblich abweichen. Mytheresa beabsichtigt nicht, seine
zukunftsgerichteten Aussagen bis zur nächsten Bekanntgabe der
Quartalsergebnisse zu aktualisieren, es sei denn, es handelt sich
um �ffentlich zugängliche Aussagen.
INFORMATIONEN ZUR TELEFONKONFERENZ UND ZUM WEBCAST
Mytheresa wird am 15. September 2022 um 8:00 Uhr Eastern Time
eine Telefonkonferenz zu den Finanzergebnissen des vierten Quartals
und des gesamten Geschäftsjahres 2022 abhalten. Diejenigen, die per
Webcast teilnehmen m�chten, sollten über die
Investor-Relations-Website von Mytheresa unter
https://investors.mytheresa.com auf die Konferenz zugreifen.
Diejenigen, die per Telefon teilnehmen m�chten, k�nnen sich unter
+1 (844) 200-6205 (USA) oder +1 (929) 526-1599 (International)
einwählen. Der Passcode lautet 702246. Eine Aufzeichnung wird als
Webcast über die Investor Relations Website von Mytheresa verfügbar
sein. Die telefonische Aufzeichnung wird ab 11:00 Uhr Eastern Time
am 16. September 2022 bis zum 22. September 2022 unter der Nummer
+1 (866) 813-9403 (USA) oder +44 204 525-0658 (International)
verfügbar sein. Der Passcode für die Aufzeichnung lautet
829670.
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 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 U.S.
Securities and Exchange Commission (“SEC”) from time to time,
including the section titled “Risk Factors” included in the form
20-F filed on October 15, 2021 under Rule 424(b)(4) of the
Securities Act. These documents are available on the SEC’s website
at www.sec.gov and on the SEC Filings section of the Investor
Relations section of our website at:
https://investors.mytheresa.com.
ABOUT NON-IFRS FINANCIAL MEASURES AND OPERATING
METRICS
We review a number of operating and financial metrics, including
the following business and non-IFRS metrics, to evaluate our
business, measure our performance, identify trends affecting our
business, formulate business plans and make strategic decisions. We
present Adjusted EBITDA, Adjusted Operating Income, Adjusted Net
Income and Adjusted EBITDA Margin as well as Adjusted Operating
Income Margin and Adjusted Net Income Margin because they are
frequently used by analysts, investors and other interested parties
to evaluate companies in our industry. Further, we believe these
measures are helpful in highlighting trends in our operating
results, because they exclude the impact of items that are outside
the control of management or not reflective of our ongoing
operations and performance. Adjusted EBITDA, Adjusted Operating
Income, and Adjusted Net Income have limitations, because they
exclude certain types of expenses. We use Adjusted EBITDA, Adjusted
Operating Income, Adjusted Net Income as well as Adjusted EBITDA
Margin, Adjusted Operating Income Margin and Adjusted Net Income
Margin as supplemental information only. You are encouraged to
evaluate each adjustment and the reasons we consider it appropriate
for supplemental analysis.
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 IPO preparation
and transaction costs, other transaction-related costs and
IPO-related share-based compensation expenses. Adjusted EBITDA
Margin is a non-IFRS 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
IPO preparation and transaction costs, other transaction-related
costs and IPO-related share-based compensation expenses. Adjusted
Operating Income Margin is a non-IFRS 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 finance expenses on
our Shareholder Loans, IPO preparation and transaction costs, other
transaction-related costs, IPO-related share-based compensation
expenses and related income tax effects. Adjusted Net Income Margin
is a non-IFRS 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 fashion 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 €612.1 million net
sales (+36.2% vs. FY20) in its first fiscal year as a public
company (https://investors.mytheresa.com).
Source: MYT Netherlands Parent B.V.
MYT Netherlands Parent B.V.
Financial Results and Key Operating
Metrics (Amounts in € millions)
Three Months Ended
Twelve Months Ended
June 30, 2021
June 30, 2022
Change in % / BPs
June 30, 2021
June 30, 2022
Change in % / BPs
(in millions)
Gross Merchandise Value (GMV)(1)
€ 166.4
€ 196.7
18.2%
€ 616.1
€ 747.3
21.3%
Active customer (LTM in
thousands)(1,2)
671
781
16.4%
671
781
16.4%
Total orders shipped (LTM in
thousands)(1,2)
1,505
1,765
17.2%
1,505
1,765
17.2%
Net sales
€ 162.4
€ 174.8
7.7%
€ 612.1
€ 689.8
12.7%
Gross profit
€ 77.4
€ 94.8
22.4%
€ 287.0
€ 355.0
23.7%
Gross profit margin(3)
47.7%
54.2%
650 BPs
46.9%
51.5%
460 BPs
Adjusted EBITDA(4)
€ 11.2
€ 13.8
22.7%
€ 54.9
€ 66.3
20.7%
Adjusted EBITDA margin(3,4)
6.9%
7.9%
100 BPs
9.0%
9.6%
60 BPs
Adjusted Operating Income(4)
€ 9.1
€ 11.4
25.4%
€ 46.7
€ 57.2
22.6%
Adjusted Operating Income margin(3,4)
5.6%
6.5%
90 BPs
7.6%
8.3%
70 BPs
Adjusted Net Income(4)
€ 7.6
€ 11.8
55.1%
€ 32.1
€ 44.5
38.6%
Adjusted Net Income margin(3,4)
4.7%
6.7%
200 BPs
5.2%
6.5%
130 BPs
(1) Definition of GMV, Active customer and Total orders shipped
can be found on page 62 in our Annual 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) Adjusted EBITDA, Adjusted Operating Income, Adjusted Net Income
and Adjusted EBITDA Margin, Adjusted Operating Margin and Adjusted
Net Income Margin are measures not defined under IFRS. For further
information about how we calculate these measures and limitations
of its use, see the following pages.
MYT Netherlands Parent B.V.
Financial Results and Key Operating
Metrics (Amounts in € millions)
The following tables set forth the reconciliations of net income
to EBITDA and adjusted EBITDA, operating income to adjusted
operating income and net income to adjusted net income:
Three Months Ended
Twelve Months Ended
June 30, 2021
June 30, 2022
Change in %
June 30, 2021
June 30, 2022
Change in %
(in millions)
Net income
€ (8.0)
€ 1.6
(120.6%)
€ (32.6)
€ (7.9)
(75.8%)
Finance expenses, net
€ (0.3)
€ 0.3
(191.5%)
€ (15.1)
€ 1.0
(106.6%)
Income tax expense
€ 2.1
€ (0.7)
(133.0%)
€ 15.5
€ 11.7
(24.5%)
Depreciation and amortization
€ 2.1
€ 2.4
11.0%
€ 8.2
€ 9.1
10.4%
thereof depreciation of right-of use
assets
€ 1.3
€ 1.5
14.5%
€ 5.2
€ 5.7
8.3%
EBITDA
€ (4.1)
€ 3.6
(188.0%)
€ (23.9)
€ 13.9
(158.2%)
IPO preparation and transaction
costs(1)
€ 0.0
€ 0.0
N/A
€ 7.0
€ 0.0
(100.0%)
Other transaction-related, certain
legal and other expenses(2)
€ 0.0
€ 1.2
N/A
€ 0.0
€ 2.5
N/A
IPO related share-based
compensation
€ 15.3
€ 9.0
(41.4%)
€ 71.9
€ 49.9
(30.6%)
Adjusted EBITDA
€ 11.2
€ 13.8
22.7%
€ 54.9
€ 66.3
20.7%
Reconciliation to Adjusted EBITDA
Margin
Net Sales
€ 162.4
€ 174.8
7.7%
€ 612.1
€ 689.8
12.7%
Adjusted EBITDA Margin
6.9%
7.9%
100 BPs
9.0%
9.6%
60 BPs
Three Months Ended
Twelve Months Ended
June 30, 2021
June 30, 2022
Change in %
June 30, 2021
June 30, 2022
Change in %
(in millions)
Operating Income
€ (6.2)
€ 1.3
(120.2%)
€ (32.2)
€ 4.8
(115.0%)
IPO preparation and transaction
costs(1)
€ 0.0
€ 0.0
N/A
€ 7.0
€ 0.0
(100.0%)
Other transaction-related,
certain legal and other expenses(2)
€ 0.0
€ 1.2
N/A
€ 0.0
€ 2.5
N/A
IPO related share-based
compensation)
€ 15.3
€ 9.0
(41.4%)
€ 71.9
€ 49.9
(30.6%)
Adjusted Operating Income
€ 9.1
€ 11.4
25.4%
€ 46.7
€ 57.2
22.6%
Reconciliation to Adjusted Operating
Income Margin
Net Sales
€ 162.4
€ 174.8
7.7%
€ 612.1
€ 689.8
12.7%
Adjusted Operating Income Margin
5.6%
6.5%
90 BPs
7.6%
8.3%
70 BPs
Three Months Ended
Twelve Months Ended
June 30, 2021
June 30, 2022
Change in %
June 30, 2021
June 30, 2022
Change in %
(in millions)
Net Income
€ (8.0)
€ 1.6
(120.6%)
€ (32.6)
€ (7.9)
(75.8%)
IPO preparation and transaction
costs(1)
€ 0.0
€ 0.0
N/A
€ 7.0
€ 0.0
(100.0%)
Other transaction-related, certain
legal and other expenses(2)
€ 0.0
€ 1.2
N/A
€ 0.0
€ 2.5
N/A
IPO related share-based
compensation (3)
€ 15.3
€ 9.0
(41.4%)
€ 71.9
€ 49.9
(30.6%)
Finance expenses on shareholder
loans(4)
€ (0.3)
€ 0.0
(100.0%)
€ (16.2)
€ 0.0
(100.0%)
Income tax effect(5)
€ 0.5
€ 0.0
(100.0%)
€ 2.1
€ 0.0
(100.0%)
Adjusted Net Income
€ 7.6
€ 11.8
55.1%
€ 32.1
€ 44.5
38.6%
Reconciliation to Adjusted Net Income
Margin
Net Sales
€ 162.4
€ 174.8
7.7%
€ 612.1
€ 689.8
12.7%
Adjusted Net Income Margin
4.7%
6.7%
200 BPs
5.2%
6.5%
130 BPs
(1) Represents non-recurring professional fees, including
consulting, legal and accounting fees, related to our planned
initial public offering (“IPO”), which are classified within
selling, general and administrative expenses. (2) Other
transaction-related, certain legal and other expenses represents
(i) professional fees, including advisory and accounting fees,
related to potential transactions, (ii) certain legal 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 Leipzig, Germany. (3)
In fiscal 2021, with the effective IPO, certain key management
personnel received a one-time granted share-based compensation, for
which the share-based compensation expense will be recognized upon
defined vesting schedules in the future periods, including €49.9
million for fiscal 2022. We do not consider these expenses to be
indicative of our core operating performance. (4) Our Adjusted Net
Income excludes finance expenses associated with our Shareholder
Loans, which we do not consider to be indicative of our core
performance. We did not receive any cash proceeds under the
Shareholder Loans, which originated as part of the Neiman Marcus
acquisition in 2014. In January 2021, we repaid our Shareholder
Loans (principal plus outstanding interest) using a portion of the
net proceeds from our initial public offering. (5) Reflects
adjustments to historical income tax expense to reflect changes in
taxable income for each of the periods presented due to changes in
finance expenses related to the Shareholder Loans, assuming a
statutory tax rate of 27.8%.
MYT Netherlands Parent B.V.
Consolidated Statements of Profit or Loss
and Comprehensive Income (Amounts in € thousands, except
share and per share data)
(in € thousands)
Three Months Ended
Twelve Months Ended
June 30, 2021
June 30, 2022
June 30, 2021
June 30, 2022
Gross Merchandise Value (GMV)
166,395
196,654
616,123
747,277
Net sales
162,368
174,836
612,096
689,750
Cost of sales, exclusive of depreciation
and amortization
(84,939)
(80,042)
(325,053)
(334,758)
Gross profit
77,429
94,794
287,043
354,992
Shipping and payment cost
(19,535)
(27,075)
(71,466)
(97,697)
Marketing expenses
(22,326)
(26,558)
(81,558)
(96,093)
Selling, general and administrative
expenses
(39,449)
(36,820)
(157,151)
(148,172)
Depreciation and amortization
(2,125)
(2,360)
(8,232)
(9,088)
Other expense, net
(231)
(721)
(799)
892
Operating income
(6,237)
1,261
(32,162)
4,834
Finance income
459
0
22,416
0
Finance costs
(135)
(296)
(7,325)
(998)
Finance income (costs), net
324
(296)
15,091
(998)
Income (loss) before income
taxes
(5,913)
965
(17,070)
3,836
Income tax (expense) income
(2,070)
683
(15,534)
(11,734)
Net income (loss)
(7,983)
1,648
(32,604)
(7,898)
Cash Flow Hedge
43
1,721
-
-
Income Taxes related to Cash Flow
Hedge
20
(479)
-
-
Foreign currency translation
-
(35)
-
(74)
Other comprehensive income
(loss)
63
1,207
-
(74)
Comprehensive income (loss)
(7,920)
2,855
(32,604)
(7,972)
Basic earnings per share in €
(0.09)
0.02
(0.42)
(0.09)
Weighted average ordinary shares
outstanding (basic & diluted) - in millions
86.3
86.4
77.4
86.3
MYT Netherlands Parent B.V.
Consolidated Statements of Financial
Position (Amounts in € thousands)
(in € thousands)
June 30, 2021
June 30, 2022
Assets
Non-current assets
Non-current financial assets
175
294
Intangible assets and goodwill
155,611
155,223
Property and equipment, net
8,810
17,691
Right-of-use assets
14,009
21,677
Deferred tax assets
-
6,090
Total non-current assets
178,606
200,975
Current assets
Inventories
247,054
230,144
Trade and other receivables
5,030
8,276
Other assets
14,492
61,874
Cash and cash equivalents
76,760
113,507
Total current assets
343,335
413,801
Total assets
521,941
614,776
Shareholders’ equity and
liabilities
Subscribed capital
1
1
Capital reserve
444,951
498,872
Accumulated Deficit
(60,837)
(68,734)
Other comprehensive income
1,602
1,528
Total shareholders’ equity
385,718
431,667
Non-current liabilities
Provisions
717
758
Lease liabilities
8,786
16,817
Deferred tax liabilities
2,308
3,661
Total non-current liabilities
11,811
21,237
Current liabilities
Tax liabilities
14,293
25,892
Lease liabilities
5,361
5,189
Contract liabilities
10,975
10,746
Trade and other payables
43,558
45,156
Other liabilities
50,225
74,889
Total current liabilities
124,412
161,872
Total liabilities
136,223
183,109
Total shareholders’ equity and
liabilities
521,941
614,776
MYT Netherlands Parent B.V.
Consolidated Statements of Changes in
Equity (Amounts in € thousands)
(in € thousands)
Subscribed capital
Capital reserve
Accumulated deficit
Foreign currency translation
reserve
Total shareholders’
equity
Balance as of July 1, 2020
1
91,008
(28,234)
1,602
64,377
Net loss
-
-
(32,604)
-
(32,604)
Other comprehensive income
-
-
-
-
-
Comprehensive loss
-
-
(32,604)
-
(32,604)
Capital increase - initial public
offering
-
283,224
-
-
283,224
IPO related transaction costs
-
(4,550)
-
-
(4,550)
Share-based compensation
-
75,270
-
-
75,270
Balance as of June 30, 2021
1
444,951
(60,837)
1,602
385,718
Balance as of July 1, 2021
1
444,951
(60,837)
1,602
385,718
Net loss
-
-
(7,898)
-
(7,898)
Other comprehensive income
-
-
-
(74)
(74)
Comprehensive loss
-
-
(7,898)
(74)
(7,972)
IPO related transaction costs
-
1,249
-
-
1,249
Share options exercised
-
369
-
-
369
Share-based compensation
-
52,303
-
-
52,303
Balance as of June 30, 2022
1
498,872
(68,734)
1,528
431,667
MYT Netherlands Parent B.V.
Consolidated Statements of Cash Flows
(Amounts in € thousands)
Year ended June 30,
(in € thousands)
2021
2022
Net income (loss)
(32,604)
(7,898)
Adjustments for
Depreciation and amortization
8,232
9,088
Finance (income) costs, net
(15,091)
998
Share-based compensation
75,270
52,303
Income tax expense
15,534
11,734
Change in operating assets and
liabilities
(Decrease) increase in provisions
135
41
(Increase) decrease in inventories
(77,922)
16,910
(Increase) decrease in trade and other
receivables
(215)
(3,246)
Decrease (increase) in other assets
4,281
(47,382)
(Decrease) increase in other
liabilities
(1,809)
24,665
Increase (decrease) in contract
liabilities
4,217
(229)
Increase (decrease) in trade and other
payables
7,400
1,598
Decrease (increase) in non-current
financial assets
-
(119)
Income taxes paid
(3,915)
(3,623)
Net cash provided by (used in)
operating activities
(16,486)
54,840
Expenditure for property and equipment and
intangible assets
(2,934)
(11,923)
Proceeds from sale of property and
equipment
40
-
Net cash (used in) investing
activities
(2,894)
(11,923)
Interest paid
(4,257)
(998)
Proceeds from bank liabilities
64,990
-
Repayment of liabilities from banks
(74,990)
-
Repayment of Shareholder loan
(171,827)
-
Proceeds from capital increase - initial
public offering
283,224
-
IPO preparation and transaction costs
(4,550)
-
Proceeds from exercise of option
awards
-
369
Lease payments
(5,800)
(5,466)
Net cash (used in) provided by
financing activities
86,790
(6,095)
Net increase (decrease) in cash and
cash equivalents
67,411
36,822
Cash and cash equivalents at the
beginning of the period
9,367
76,760
Effects of exchange rate changes on
cash and cash equivalents
(18)
(74)
Cash and cash equivalents at end of the
period
76,760
113,507
Originalversion auf businesswire.com
ansehen: https://www.businesswire.com/news/home/20220915005131/de/
Investor Relations Contacts Mytheresa.com GmbH Stefanie
Muenz phone: +49 89 127695-1919 email: investors@mytheresa.com
Solebury Strategic Communications Deena Friedman / Maria
Lycouris phone: +1 800 929 7167 email: investors@mytheresa.com
Media Contacts for public relations Mytheresa.com GmbH
Sandra Romano mobile: +49 152 54725178 phone: +49 89 127695-236
email: sandra.romano@mytheresa.com
Media Contacts for business press Mytheresa.com GmbH
Alberto Fragoso mobile: +49 152 38297355 phone: +49 89 127695-1358
email: alberto.fragoso@mytheresa.com
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