- Strong full FY22 with 21.3% Gross Merchandise Value (GMV)
growth to €747.3 million and an Adjusted EBITDA margin of 9.6% vs.
9.0% in the prior year
- Top-line strength evident by two-year GMV growth of 66.3%
(FY22 vs FY20) and three-year GMV growth of 97.1% (FY22 vs
FY19)
- Gross Profit growth at 24% for full FY22
- Full FY23 guidance for GMV at 16% to 22% growth with a
stable Adjusted EBITDA margin of 9.0% to 9.5%
MYT Netherlands Parent B.V. (NYSE: MYTE) (“Mytheresa” or the
“Company”), the parent company of Mytheresa Group GmbH, today
announced financial results for its fourth quarter and full fiscal
year 2022 ended June 30, 2022. The luxury multi-brand digital
platform delivered strong results for the full fiscal year and
another quarter of continued top-line growth with increased
profitability. Mytheresa sees itself perfectly positioned to take
advantage of the ongoing shift to online of luxury consumers, the
continued consolidation in the digital luxury sector and the global
market share expansion opportunities.
Michael Kliger, Chief Executive Officer of Mytheresa,
said, “Our strong financial results for fiscal year 2022, as well
as for the fourth quarter, put us at the very top of performance of
digital platforms. The results prove the unique positioning and
business model of Mytheresa. We showed strong growth and
profitability against a backdrop of economic and geopolitical
challenges. We remain very confident that the high-end digital
luxury sector combined with our superior business model will
provide excellent results for our investors in the years to come.
We will, of course, remain very agile in reacting to external
developments and their potential impact on our business.”
Kliger continued, “In the fourth quarter, our GMV growth
accelerated from Q3, we saw above average GMV growth in the United
States, where we strengthened our position as a top of mind
shopping destination for luxury consumers. Customer engagement and
retention continued to increase, which speaks to our unique
positioning attracting a highly valuable multi-brand customer that
appreciates our excellent service. We see ourselves as one of the
few winners in the clearly consolidating luxury ecommerce
space.”
FINANCIAL HIGHLIGHTS FOR THE FOURTH QUARTER ENDED JUNE 30,
2022
- GMV growth of 18.2% year-over-year to €196.7 million,
compared to €166.4 million in the prior year period
- Net sales increase of €12.5 million, or 7.7% year-over-year
to €174.8 million slower than GMV due to planned transition of
brands to the Curated Platform Model (CPM) and the subsequent
effect of recording the platform fee as Net Sales
- Gross Profit growth of 22.4%. Increase of 650 basis points
in gross profit margin to 54.2% compared to 47.7% in the prior year
period, driven by an increase in sales from CPM generating 100%
gross margin
- Adjusted EBITDA growth of 22.7% to €13.8 million and
increase in adjusted EBITDA margin of 100 basis points to 7.9%
compared to the previous quarter
- Adjusted operating income margin of 6.5%, compared to 5.6%
in the prior year period
- Adjusted net income margin of 6.7%, compared to 4.7% in the
prior year period
FINANCIAL HIGHLIGHTS FOR THE TWELVE MONTHS ENDED JUNE 30,
2022
- GMV growth of 21.3% to €747.3 million, compared to €616.1
million in fiscal year 2021
- Net sales increase to €689.8 million, a 12.7% growth from
€612.1 in fiscal year 2021
- Gross Profit growth of 23.7%. Increase of 460 basis points
in gross profit margin to 51.5% compared to 46.9% in the prior
year, driven by an increase in sales from CPM generating 100% gross
margin
- Adjusted EBITDA growth of 20.7% to €66.3 million and
increase in adjusted EBITDA margin of 60 basis points to 9.6%
compared to the previous fiscal year
- Adjusted operating income margin of 8.3%, compared to 7.6%
in the previous full fiscal year
- Increase of 130 basis points in the adjusted net income
margin to 6.5% for the full fiscal year 2022
- Net increase in cash and cash equivalents in the
twelve-month period of €36.8 million
RECENT BUSINESS HIGHLIGHTS
Strong Global Expansion:
- Accelerated global GMV growth with +18.2% vs. Q4 FY21 and
strong full FY22 growth with +21.3% vs. FY21 as well as +66.3% vs.
full FY20
- Above average GMV growth again in the United States with +28.0%
vs. Q4 FY21
- Record number of high-impact top customer events held across
Europe and the United States
- Successful launch of new LIFE category with home décor and
other lifestyle products opening up future growth potential
Continued Brand Partnerships:
- Launch of record number of exclusive capsule collections and
pre-launches in collaboration with Dolce & Gabbana, Dries van
Noten, Pucci, Bottega Veneta, Gucci, Zimmermann, Valentino and many
more
- Digital pop up with Rimowa presenting the “Originals” as well
as global premiere of the new color animation “Quartz”
- Continued roll-out with strong financials of the Curated
Platform Model (CPM) with 6 brands live
High-quality Customer Growth:
- LTM growth of active customers of 16.4% reaching 781,000
customers
- Solid number of first-time buyers in Q4 FY22 with over 120,000
customers
- Repurchase rates of new customer cohorts acquired in Q2 FY22
show positive trend vs. Q2 FY21 cohort in Q4
- Strong growth of number of top customers with 22.1% in Q4 FY22
vs. Q4 FY21 as well as an increase in average GMV per all customers
of 5.8% in Q4 FY22 vs. Q4 FY21
Consistent Strong Operational Performance:
- Strong operational customer benefits with the expected
completion in FY24 of the new warehouse at Leipzig Airport,
currently progressing according to plan
- Maintained very high customer satisfaction with an
industry-leading Net Promoter Score of 83.2% in Q4 FY22
- Achieved strong Gross Profit Margin with 54.2% in Q4 FY22 based
on continued focus on full-price business and increasing share of
CPM generating 100% gross profit
- All operational indicators showed in FY22 an excellent level of
resilience and adaptability of the Mytheresa business model despite
challenging business conditions
BUSINESS OUTLOOK
For the full fiscal year ending June 30, 2023, we expect:
- GMV in the range of €865 million to €910 million, representing
a 16% to 22% growth
- Net Sales of €755 million to €800 million, representing 10% to
16% growth
- Gross profit at €410 million to €435 million, representing a
16% to 22% growth
- Adjusted EBITDA in the range of €68 million to €76 million and
an Adjusted EBITDA margin of 9.0% to 9.5%
For the medium-term we confirm our targets of annual GMV Growth
of 22% to 25% as well as a slightly increasing Adjusted EBITDA
margin around 9% to 10%.
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 fourth
quarter and full fiscal year 2022 financial results on September
15, 2022 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 (844) 200-6205
(USA) or +1 (929) 526-1599 (International). The passcode will be
702246. A replay will be available via webcast through Mytheresa’s
Investor Relations website. The telephone replay will be available
from 11:00am Eastern Time on September 16, 2022, through September
22, 2022, by dialing +1 (866) 813-9403 (USA) or +44 204 525-0658
(International). The replay passcode will be 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, certain legal and
other expenses 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,
certain legal and other expenses 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, certain legal and other expenses, 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, applicable sales 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
View source
version on businesswire.com: https://www.businesswire.com/news/home/20220915005130/en/
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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