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Business Wire
Quartalsergebnisse für das 1. Quartal des Geschäftsjahres 2023: Mytheresa beschleunigt Wachstum mit einem GMV-Anstieg von 21% in Q1 FY23 und bestätigt GMV- und bereinigte EBITDA-Prognose für das gesamte Geschäftsjahr 2023
- Erfolgreiches 1. Quartal im Geschäftsjahr 2023 mit einem Wachstum des Bruttowarenwerts (GMV) um 20,8% auf 197,9 Millionen Euro und einer bereinigten EBITDA-Marge von 6,6%
- Steigerung der Bruttogewinnmarge im Q1 GJ23 auf 49,9% im Vergleich zu 49,0% im Vorjahresquartal
- Prognose für das gesamte GJ23 mit einem GMV-Wachstum von 16% bis 22% und einer stabilen bereinigten EBITDA-Marge von 9,0% bis 9,5% bestätigt
MÜNCHEN–(BUSINESS WIRE)–MYT Netherlands Parent B.V. (NYSE: MYTE) („Mytheresa“ oder das „Unternehmen“), die Muttergesellschaft der Mytheresa Group GmbH, gab heute die Finanzergebnisse für das erste Quartal des Geschäftsjahres 2023 bekannt, welches am 30. September 2022 endete. Die digitale Multibrand-Luxusplattform lieferte im ersten Quartal starke Ergebnisse mit beschleunigtem Umsatzwachstum und anhaltender Profitabilität. Dies zeigt die fundamentale Stärke und Beständigkeit eines wirklich differenzierten Unternehmens mit einem einzigartigen Kundenfokus, einem hochgradig anpassungsfähigen Geschäftsmodell und herausragender operativer Exzellenz.
Michael Kliger, Chief Executive Officer von Mytheresa, sagt: „Die Beschleunigung des GMV-Wachstums im 1. Quartal des neuen Geschäftsjahres gegenüber den vorangegangenen Quartalen im Jahr 2022 hebt uns von anderen digitalen Plattformen ab und der alleinige Fokus auf den High-End-Luxussektor, sowohl in Bezug auf Kunden als auch auf Marken, macht uns in erster Linie zu einem Luxusunternehmen und nicht nur zu einem digitalen Unternehmen. Wir glauben, dass unsere Ergebnisse die fundamentale Stärke, Widerstandsfähigkeit und Beständigkeit unseres Unternehmens widerspiegeln, das seither immer profitables Wachstum geliefert hat. Mit unserem einzigartigen Kundenfokus, einem hochgradig anpassungsfähigen Geschäftsmodell und operativer Exzellenz sind wir sehr zuversichtlich, unsere kommunizierten Ziele für das gesamte Geschäftsjahr 2023 zu erreichen, trotz anhaltender Herausforderungen im makroökonomischen Umfeld.“
Kliger ergänzt: „Das Geschäftsmodell von Mytheresa ist gut diversifiziert und agil. Wir verzeichnen ein Wachstum in allen Kategorien, einschließlich unserer kürzlich eingeführten „Life“-Kategorie mit Wohn- und Lifestyle-Produkten, sowie in allen geografischen Regionen. Wir erzielten erneut ein überdurchschnittliches GMV-Wachstum in den USA, wo wir aufgrund unserer einzigartigen Kuratierung und zahlreicher ‚money can’t buy experiences‘ für unsere Top-Kunden weiterhin Kunden gewinnen konnten. Auch in China haben wir ein sehr gutes Wachstum erzielt, wo wir unsere lokalen Teams ausbauen und unter unserer neuen Führung in Aktivierungen investieren.“
FINANCIAL HIGHLIGHTS FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2022
- GMV-Wachstum von 20,8% im Jahresvergleich auf 197,9 Mio. €, verglichen mit
163,9 Mio. € im Vorjahreszeitraum - Anstieg des Nettoumsatzes um 18,1 Mio. € bzw. 11,4% gegenüber dem Vorjahr auf
175,9 Mio. € aufgrund der geplanten Umstellung der Marken auf das Curated Platform Model (CPM) und der daraus resultierenden Erfassung der Plattformgebühr als Nettoumsatz - Anstieg der Bruttogewinnmarge um 90 Basispunkte auf 49,9% gegenüber 49,0% im Vorjahreszeitraum. Dies ist in erster Linie auf einen Anstieg der Umsätze aus dem CPM zurückzuführen, welches eine Bruttomarge von 100% erzielt sowie den Fokus auf Vollpreis
- Bereinigtes EBITDA von 11,6 Mio. € gegenüber 14,0 Mio. € im Vorjahresquartal mit einer bereinigten EBITDA-Marge von 6,6% in Q1 GJ 23
AKTUELLE GESCHÄFTLICHE HIGHLIGHTS
Starke globale Expansion:
- Weiter beschleunigtes GMV-Wachstum mit +20,8% gegenüber Q1 FY22
- Erneut überdurchschnittliches GMV-Wachstum in den Vereinigten Staaten mit +28,5% gegenüber Q1 FY22
- Außergewöhnliche Events für Topkunden und -kundinnen, sowie Markenpartner, während der großen Modewochen in Europa und den Vereinigten Staaten
- Ankündigung des China Designer Program by Mytheresa zur Unterstützung und Förderung der globalen Visibilität chinesischer Luxusdesigner
Kontinuierliche Markenpartnerschaften:
- Launch exklusiver Kollektionen und Pre-Launches in Zusammenarbeit mit Gucci, Chloé, Givenchy, Christian Louboutin, Jacquemus, Loewe, Bottega Veneta und vielen anderen
- Exklusiver Launch der Etro Love Trotter Taschen am Tag der ersten Etro Fashion Show von Designer Marco de Vincenzo
- Erfolgreicher Ausbau des Curated Platfom Model (CPM) mit insgesamt 7 Luxusmarken
Hochwertiges Kundenwachstum:
- LTM-Wachstum der aktiven Kunden auf 13,4% auf 800.000 Kunden
- Solide Anzahl von Erstkäufern in Q1 GJ23 mit über 105.000 Neukunden
- Wiederkaufsraten der im 4. Quartal des GJ22 neu gewonnenen Kundenkohorten zeigten einen positiven Trend im Vergleich zur Kohorte des 4. Quartals GJ21 im ersten Quartal
- Starkes Wachstum der Anzahl an Top-Kunden mit 22,7% in Q1 FY23 gegenüber Q1 FY22 sowie ein Anstieg des durchschnittlichen GMV pro Kunde von 6,5% in Q1 FY23 gegenüber Q1 FY22 unterstreichen den klaren Fokus auf die Qualität der Kundenakquisition
Konstant starke operative Leistung:
- Anhaltende sehr hohe Kundenzufriedenheit mit einem branchenführenden Net Promoter Score von 81% in Q1 GJ23
- Starke Bruttogewinnmarge von 49,9% in Q1 GJ23, basierend auf dem anhaltenden Fokus auf das Vollpreisgeschäft und dem steigenden Anteil von CPM, welches 100% Bruttogewinn generiert
- Alle operativen Indikatoren in Q1 GJ23 unterstreichen die Widerstandsfähigkeit und Anpassungsfähigkeit des Mytheresa-Geschäftsmodells trotz schwieriger makroökonomischer Bedingungen
- Veröffentlichung des ersten ESG-Reports, der die Fortschritte bei den festgelegten ESG-Verpflichtungen aufzeigt
GESCHÄFTSAUSBLICK
Für das gesamte Geschäftsjahr, das am 30. Juni 2023 endet, bestätigen wir unsere bisherige Prognose:
- GMV im Bereich 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
- 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
- Bereinigtes EBITDA in der Größenordnung 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, können 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 öffentlich zugängliche Aussagen.
INFORMATIONEN ZUR TELEFONKONFERENZ UND ZUM WEBCAST
Mytheresa wird am 8. November 2022 um 8:00 Uhr Eastern Time eine Telefonkonferenz zu den Finanzergebnissen des ersten Quartals des Geschäftsjahres 2023 abhalten. Diejenigen, die per Webcast teilnehmen möchten, sollten über die Investor-Relations-Website von Mytheresa unter https://investors.mytheresa.com auf die Konferenz zugreifen. Diejenigen, die per Telefon teilnehmen möchten, können sich unter +1 (877) 269-7751 (USA) oder +1 (201) 389-0908 (International) einwählen. Der Passcode lautet 13733608. Die Aufzeichnung der Telefonkonferenz wird als Webcast auf der Investor Relations Website von Mytheresa verfügbar sein. Die telefonische Aufzeichnung wird ab 11:00 Uhr Eastern Time am 8. November 2022 bis zum 15. November 2022 unter der Nummer +1 (844) 512-2921 (USA) oder +1 412 317 6671 (International) verfügbar sein. Der Passcode für die Aufzeichnung lautet 13733608.
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 €747.3 million GMV in fiscal year 2022 (+21.3% vs. FY21).
For more information, please visit https://investors.mytheresa.com.
MYT Netherlands Parent B.V.
Financial Results and Key Operating Metrics
(Amounts in € millions)
| Three Months Ended | ||||
|
|
|
|
|
|
| September 30, |
| September 30, |
| Change |
|
|
|
|
|
|
(in millions) (unaudited) |
|
|
|
|
|
Gross Merchandise Value (GMV) (1) | € 163.9 |
| € 197.9 |
| 20.8% |
Active customer (LTM in thousands) (1), (2) | 705 |
| 800 |
| 13.4% |
Total orders shipped (LTM in thousands) (1), (2) | 1,580 |
| 1,839 |
| 16.4% |
Net sales | € 157.8 |
| € 175.9 |
| 11.4% |
Gross profit | € 77.3 |
| € 87.8 |
| 13.6% |
Gross profit margin(3) | 49.0% |
| 49.9% |
| 90 BPs |
Adjusted EBITDA(4) | € 14.0 |
| € 11.6 |
| (17.4%) |
Adjusted EBITDA margin(3) | 8.9% |
| 6.6% |
| (230 BPs) |
Adjusted Operating Income(4) | € 11.8 |
| € 9.0 |
| (23.6%) |
Adjusted Operating Income margin(3) | 7.5% |
| 5.1% |
| (240 BPs) |
Adjusted Net Income(4) | € 8.2 |
| € 6.1 |
| (26.1%) |
Adjusted Net Income margin(3) | 5.2% |
| 3.5% |
| (170 BPs) |
(1) Definition of GMV, Active customer and Total orders shipped can be found on page 27 in our Interim Report. (2) Active customers and total orders shipped are calculated based on orders shipped from our sites during the last twelve months (3) As a percentage of net sales. (4) Adjusted EBITDA, Adjusted Operating Income, Adjusted Net Income and Adjusted EBITDA Margin, Adjusted Operating Margin and | |||||
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 adjusted EBITDA, operating income to adjusted operating income and net income to adjusted net income, and their corresponding margins as a percentage of net sales:
| Three Months Ended | ||||
|
|
|
|
|
|
| September 30, 2021 |
| September 30, |
| Change |
|
|
|
|
|
|
(in millions) (unaudited) |
|
|
|
|
|
Net income | € (7.3) |
| € (3.8) |
| (47.8%) |
Finance expenses, net | € 0.2 |
| € 0.4 |
| 96.8% |
Income tax expense | € 3.4 |
| € 2.6 |
| (24.3%) |
Depreciation and amortization | € 2.2 |
| € 2.5 |
| 16.7% |
thereof depreciation of right-of use assets | € 1.3 |
| € 1.7 |
| 27.9% |
EBITDA | € (1.5) | € 1.7 |
| (211.7%) | |
Other transaction-related, certain legal and other expenses (1) | € 0.0 |
| € 1.5 |
| N/A |
IPO related share-based compensation(2) | € 15.5 | € 8.4 |
| (45.7%) | |
Adjusted EBITDA | € 14.0 | € 11.6 |
| (17.4%) | |
|
|
|
|
|
|
Reconciliation to Adjusted EBITDA Margin |
|
|
|
|
|
Net Sales | € 157.8 |
| € 175.9 |
| 11.4% |
Adjusted EBITDA margin | 8.9% |
| 6.6% |
| (230 BPs) |
| Three Months Ended | ||||
|
|
|
|
|
|
|
|
|
|
|
|
| September 30, |
| September 30, |
| Change |
|
|
|
|
|
|
(in millions) (unaudited) |
|
|
|
|
|
Operating Income | € (3.7) |
| € (0.9) |
| (76.9%) |
Other transaction-related, certain legal and other expenses (1) | € 0.0 |
| € 1.5 |
| N/A |
IPO related share-based compensation(2) | € 15.5 |
| € 8.4 |
| (45.7%) |
Adjusted Operating Income | € 11.8 |
| € 9.0 |
| (23.6%) |
|
|
|
|
|
|
Reconciliation to Adjusted Operating Income Margin |
|
|
|
|
|
Net Sales | € 157.8 |
| € 175.9 |
| 11.4% |
Adjusted Operating Income margin | 7.5% |
| 5.1% |
| (240 BPs) |
| Three Months Ended | ||||
|
|
|
|
|
|
| September 30, |
| September 30, |
| Change |
|
|
|
|
|
|
(in millions) (unaudited) |
|
|
|
|
|
Net Income | € (7.3) |
| € (3.8) |
| (47.8%) |
Other transaction-related, certain legal and other expenses(1) | € 0.0 |
| € 1.5 |
| N/A |
IPO related share-based compensation(2) | € 15.5 |
| € 8.4 |
| (45.7%) |
Adjusted Net Income | € 8.2 |
| € 6.1 |
| (26.1%) |
|
|
|
|
|
|
Reconciliation to Adjusted Net Income Margin |
|
|
|
|
|
Net Sales | € 157.8 |
| € 175.9 |
| 11.4% |
Adjusted Net Income margin | 5.2% |
| 3.5% |
| (170 BPs) |
(1) Other transaction-related, certain legal and other expenses represents (i) certain legal expenses incurred outside the ordinary (2) In fiscal 2021, with the effective IPO, certain key management personnel received a one-time granted share-based compensation, | |||||
MYT Netherlands Parent B.V.
Unaudited Condensed Consolidated Statements of Profit or Loss and Comprehensive Income
(Amounts in € thousands, except share and per share data)
|
|
| Three Months Ended | ||
|
|
|
| ||
(in € thousands) |
|
| September 30, 2021 |
| September 30, 2022 |
|
|
|
|
|
|
Net sales |
|
| 157,832 |
| 175,890 |
Cost of sales, exclusive of depreciation and amortization |
|
| (80,516) |
| (88,095) |
Gross profit |
|
| 77,316 |
| 87,795 |
Shipping and payment cost |
|
| (19,966) |
| (24,029) |
Marketing expenses |
|
| (22,427) |
| (25,354) |
Selling, general and administrative expenses |
|
| (36,158) |
| (37,643) |
Depreciation and amortization |
|
| (2,182) |
| (2,547) |
Other income (loss), net |
|
| (281) |
| 926 |
Operating income |
|
| (3,699) |
| (853) |
Finance income |
|
| – |
| 4 |
Finance costs |
|
| (189) |
| (376) |
Finance income (costs), net |
|
| (189) |
| (372) |
Loss before income taxes |
|
| (3,888) |
| (1,225) |
Income tax expense |
|
| (3,408) |
| (2,581) |
Net loss |
|
| (7,296) |
| (3,806) |
Cash Flow Hedge |
|
| (1,081) |
| (3,059) |
Income Taxes related to Cash Flow Hedge |
|
| 267 |
| 854 |
Foreign currency translation |
|
| (25) |
| (25) |
Other comprehensive loss |
|
| (839) |
| (2,230) |
Comprehensive loss |
|
| (8,136) |
| (6,036) |
|
|
|
|
|
|
Basic & diluted earnings per share |
| € | (0.09) | € | (0.04) |
Weighted average ordinary shares outstanding (basic and diluted) – in millions |
|
| 84.5 |
| 86.5 |
MYT Netherlands Parent B.V.
Unaudited Condensed Consolidated Statements of Financial Position
(Amounts in € thousands)
(in € thousands) | June 30, 2022 | September 30, 2022 | |||
Assets |
| ||||
Non-current assets |
| ||||
Non-current financial assets |
|
| 294 |
| 642 |
Intangible assets and goodwill | 155,223 |
| 155,125 | ||
Property and equipment |
|
| 17,691 |
| 22,056 |
Right-of-use assets | 21,677 |
| 45,829 | ||
Deferred tax assets |
|
| 6,090 |
| 6,090 |
Total non-current assets | 200,975 |
| 229,742 | ||
Current assets |
|
|
| ||
Inventories |
|
| 230,144 |
| 262,197 |
Trade and other receivables | 8,276 |
| 6,145 | ||
Other assets |
|
| 61,874 |
| 32,606 |
Cash and cash equivalents | 113,507 |
| 87,891 | ||
Total current assets |
|
| 413,801 |
| 388,840 |
Total assets | 614,776 |
| 618,582 | ||
|
| ||||
Shareholders’ equity and liabilities |
|
| |||
Subscribed capital | 1 |
| 1 | ||
Capital reserve |
|
| 498,872 |
| 509,494 |
Accumulated Deficit | (68,734) |
| (72,540) | ||
Accumulated other comprehensive income (loss) |
|
| 1,528 |
| (702) |
Total shareholders’ equity | 431,667 |
| 436,252 | ||
|
| ||||
Non-current liabilities |
|
|
|
|
|
Provisions |
|
| 758 |
| 2,621 |
Lease liabilities | 16,817 |
| 39,362 | ||
Deferred tax liabilities |
|
| 3,661 |
| 4,116 |
Total non-current liabilities | 21,237 |
| 46,099 | ||
Current liabilities |
|
|
|
|
|
Tax liabilities |
|
| 25,892 |
| 21,963 |
Lease liabilities |
|
| 5,189 |
| 5,285 |
Contract liabilities | 10,746 |
| 6,341 | ||
Trade and other payables |
|
| 45,156 |
| 34,968 |
Other liabilities | 74,889 |
| 67,675 | ||
Total current liabilities |
|
| 161,872 |
| 136,232 |
Total liabilities | 183,109 |
| 182,330 | ||
Total shareholders’ equity and liabilities |
|
| 614,776 |
| 618,582 |
MYT Netherlands Parent B.V.
Unaudited Condensed Consolidated Statements of Changes in Equity
(Amounts in € thousands)
(in € thousands) |
| Subscribed |
| Capital |
| Accumulated |
| Hedging |
| Foreign currency |
| Total |
Balance as of July 1, 2021 |
| 1 |
| 444,951 |
| (60,837) |
| – |
| 1,602 |
| 385,718 |
Net loss |
| – |
| – |
| (7,296) |
| – |
| – |
| (7,296) |
Other comprehensive loss |
| – |
| – |
| – |
| (814) |
| (25) |
| (839) |
Comprehensive loss |
| – |
| – |
| (7,296) |
| (814) |
| (25) |
| (8,136) |
Share-based compensation |
| – | 16,134 | – | – | – | 16,134 | |||||
Balance as of September 30, 2021 |
| 1 |
| 461,086 |
| (68,133) |
| (814) |
| 1,577 |
| 393,716 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of July 1, 2022 |
| 1 |
| 498,872 |
| (68,734) |
| – |
| 1,528 |
| 431,667 |
Net loss |
| – |
| – |
| (3,806) |
| – |
| – |
| (3,806) |
Other comprehensive loss |
| – |
| – |
| – |
| (2,205) |
| (25) |
| (2,230) |
Comprehensive loss |
| – |
| – |
| (3,806) |
| (2,205) |
| (25) |
| (6,036) |
Share options exercised |
| – |
| 1,077 |
| – |
| – |
| – |
| 1,077 |
Share-based compensation |
| – |
| 9,544 |
| – |
| – |
| – |
| 9,544 |
Balance as of September 30, 2022 |
| 1 |
| 509,494 |
| (72,540) |
| (2,205) |
| 1,503 |
| 436,252 |
MYT Netherlands Parent B.V.
Unaudited Condensed Consolidated Statements of Cash Flows
(Amounts in € thousands)
Three months ended September 30, | |||||
(in € thousands) | 2021 |
| 2022 | ||
Net loss |
|
| (7,296) |
| (3,806) |
Adjustments for |
|
|
|
|
|
Depreciation and amortization |
|
| 2,182 |
| 2,547 |
Finance (income) costs, net |
|
| 189 |
| 372 |
Share-based compensation |
|
| 16,134 |
| 9,544 |
Income tax expense |
|
| 3,408 |
| 2,581 |
Change in operating assets and liabilities |
|
|
|
|
|
(Decrease) increase in provisions |
|
| 17 |
| 1,863 |
(Increase) decrease in inventories |
|
| (17,901) |
| (32,053) |
(Increase) decrease in trade and other receivables |
|
| 1,274 |
| 2,130 |
Decrease (increase) in other assets |
|
| (506) |
| 29,962 |
(Decrease) increase in other liabilities |
|
| 3,713 |
| (10,936) |
Increase (decrease) in contract liabilities |
|
| (3,202) |
| (4,405) |
Increase (decrease) in trade and other payables |
|
| (16,336) |
| (10,253) |
Decrease (increase) in non-current financial assets |
|
| (13) |
| (343) |
Income taxes paid |
|
| (831) |
| (5,207) |
Net cash used in operating activities |
|
| (19,166) |
| (18,004) |
Expenditure for property and equipment and intangible assets |
|
| (356) |
| (5,092) |
Net cash (used in) investing activities |
|
| (356) |
| (5,092) |
Interest paid |
|
| (189) |
| (372) |
Proceeds from exercise of option awards |
|
| – |
| 1,077 |
Payment of lease liabilities |
|
| (1,339) |
| (3,234) |
Net cash used in financing activities |
|
| (1,528) |
| (2,530) |
Net decrease in cash and cash equivalents |
|
| (21,050) |
| (25,625) |
Cash and cash equivalents at the beginning of the period |
|
| 76,760 |
| 113,507 |
Effects of exchange rate changes on cash and cash equivalents |
|
| (25) |
| 10 |
Cash and cash equivalents at end of the period |
|
| 55,685 |
| 87,891 |
Contacts
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
