MYTHERESA(MYTE)

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MYTHERESA(MYTE) - 2024 Q4 - Annual Report
2024-09-12 12:40
Exhibit 99.1 Strong Full FY24 results for Mytheresa driven by +14% Net Sales growth in H2 compared to last year and continued profitability with 4% Adj. EBITDA margin in H2 FY24 MUNICH, Germany (September 12, 2024) – MYT Netherlands Parent B.V. (NYSE: MYTE) ("Mytheresa" or the "Company") today announced financial results for its fourth quarter and full fiscal year 2024 ended June 30, 2024. The luxury multi-brand digital platform reported strong financial performance for the fourth quarter, driving significa ...
MYTHERESA(MYTE) - 2024 Q4 - Annual Report
2024-09-12 12:30
Financial Performance - In fiscal 2024, the company reported net sales of €840.8 million, representing a growth of 9.8% from fiscal 2023[233]. - The average order value in fiscal 2024 was €703, an increase from €641 in fiscal 2023[230]. - The company experienced a net loss of €24.9 million in fiscal 2024, compared to €17.0 million in fiscal 2023[233]. - Adjusted EBITDA for fiscal 2024 was €25.8 million, down from €38.4 million in fiscal 2023[233]. - Gross profit for FY24 was €384.5 million, a year-over-year increase of €4.6 million or 1.2%[274]. - Operating loss increased to €22.0 million in FY24 from €8.7 million in FY23, with net loss rising to €24.8 million from €17.0 million[274]. - Adjusted EBITDA decreased from €38.4 million in the fiscal year ended June 30, 2023, to €25.8 million in the fiscal year ended June 30, 2024, a decline of 32.8%[332]. - Net loss increased from €17.0 million in the fiscal year ended June 30, 2023, to €24.9 million in the fiscal year ended June 30, 2024, representing a 46.4% increase[332]. - The gross profit margin decreased from 49.6% in the fiscal year ended June 30, 2023, to 45.7% in the fiscal year ended June 30, 2024, a decline of 390 basis points[332]. Customer Metrics - Mytheresa's active customer base has grown at a 25.7% CAGR since fiscal 2016, with 75.5% of net sales in fiscal 2024 coming from existing customers[253]. - The number of active customers decreased slightly from 856,345 in FY23 to 852,223 in FY24, while top customers grew by 5.0%[274]. - The company has achieved an 80% net sales retention rate from prior year cohorts, demonstrating strong customer loyalty[253]. - Customer satisfaction is evidenced by a net promoter score of 75.2% in fiscal 2024[243]. Sales and Market Trends - The personal luxury goods market reached a value of €362 billion in 2023, with expected growth of 4% to 6% in 2024[236]. - The wealth of high net worth individuals (HNWIs) increased at a CAGR of 4.7% from 2016 to 2023, reaching $86.8 trillion as of 2023[237]. - Gross Merchandise Value (GMV) rose from €853.2 million to €913.6 million, reflecting a growth of 7.1%[306]. - The net sales percentage of GMV improved from 89.8% to 92.0%, an increase of 220 basis points[306]. - Net sales for online operations increased from €751.3 million in the fiscal year ended June 30, 2023, to €826.7 million in the fiscal year ended June 30, 2024, a growth of 10.0%[327]. Product and Category Development - The company launched 76 exclusive capsule collections and pre-launch campaigns in fiscal 2024[242]. - Mytheresa's Fine Jewellery and Watches category launched in 2023, with sales from products above €10,000 now making up 25% of the sales mix[260]. - The kidswear segment has expanded from 35 to 57 brands since its launch in January 2019, showing double-digit growth compared to the prior year[259]. - Mytheresa launched new categories including Mytheresa Kids in 2019, Mytheresa Men in January 2020, and Life in May 2023, expanding its luxury offerings[290]. Marketing and Customer Acquisition - Customer acquisition cost (CAC) accounted for approximately 80% of total marketing expenses in FY24, reflecting a focus on efficient customer acquisition strategies[279]. - Marketing expenses decreased from €112.0 million for the fiscal year ended June 30, 2023, to €96.7 million for the fiscal year ended June 30, 2024, with a marketing cost ratio in relation to net sales decreasing by 310 BPs[312][313]. Management and Governance - Michael Kliger has been the CEO since September 2020, previously serving as President and CEO of mytheresa.com GmbH since March 2015[358]. - Dr. Martin Beer has been the CFO since September 2020, with 14 years of experience in CFO and COO roles in e-commerce companies[359]. - The Supervisory Board includes members with extensive experience in finance and management from companies like LEGO Group and Amazon[363][365][367]. - The company is committed to maintaining strong governance with independent directors on the Supervisory Board[363]. - The total compensation for management board members for the year ended June 30, 2024, was €17,481 thousand, a decrease from €26,077 thousand in the previous year[386]. Financial Position and Cash Flow - Cash and cash equivalents as of June 30, 2024, were €15.1 million, with approximately 72% held in Germany[349]. - Net cash inflow from operating activities for the fiscal year ended June 30, 2024, was €10,015 thousand, a significant improvement from a cash outflow of €55,050 thousand in 2023[352]. - Total cash outflow from investing activities decreased to €11,809 thousand in 2024 from €22,758 thousand in 2023, primarily due to lower capital expenditures[353]. Future Outlook and Strategy - The company plans to leverage proprietary data insights to optimize customer experience and enhance inventory management[266]. - The global luxury market is projected to reach €540-580 billion by 2030, more than double its size in 2020[288]. - The company continues to invest in personnel quality to sustain medium and long-term growth strategy while managing expenses prudently[320].
MYTHERESA(MYTE) - 2024 Q4 - Earnings Call Presentation
2024-09-12 12:29
Investor Presentation September 2024 Legal Disclaimer Forward Looking Statements & Industry Information This presentation contains forward-looking statements that are subject to risks and uncertainties. All statements other than statements of historical fact or relating to present facts or current conditions included in this presentation are forward- looking statements. Forward-looking statements give the Company's current expectations and projections relating to its financial condition, results of operatio ...
MYTHERESA(MYTE) - 2024 Q3 - Earnings Call Transcript
2024-05-15 18:33
MYT Netherlands Parent B.V. (NYSE:MYTE) Q3 2024 Earnings Conference Call May 15, 2024 8:00 AM ET Company Participants Martin Beer - Chief Financial Officer Michael Kliger - Chief Executive Officer Conference Call Participants Grace Smalley - Morgan Stanley Operator Greetings. And welcome to the Mytheresa Third Quarter Fiscal 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. Today's call is being recorded and we have allocated one hour for prepared remarks and Q&A. It i ...
MYTHERESA(MYTE) - 2024 Q3 - Quarterly Report
2024-05-15 10:00
Exhibit 99.1 INTERIM REPORT For the three and nine months ended March 31, 2024 MYT Netherlands Parent B.V. Einsteinring 9 85609 Aschheim/Munich Germany INDEX | FINANCIAL RESULTS AND KEY OPERATING METRICS | 3 | | --- | --- | | UNAUDITED INTERIM CONDENSED CONSOLIDATED FINANCIAL STATEMENTS | 6 | | MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF | 26 | | OPERATIONS | | | QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK | 45 | | LEGAL PROCEEDINGS | 45 | MYT Netherlands Parent ...
Is MYT Netherlands Parent (MYTE) Stock Undervalued Right Now?
Zacks Investment Research· 2024-05-09 14:46
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use a variety of methods, including tried-and-true valuation metrics, to find these stocks.Luckily, Zack ...
MYTHERESA(MYTE) - 2024 Q2 - Earnings Call Transcript
2024-02-15 19:23
MYT Netherlands Parent B.V. (NYSE:MYTE) Q2 2024 Earnings Conference Call February 15, 2024 8:00 AM ET Company Participants Martin Beer - Chief Financial Officer Michael Kliger - Chief Executive Officer Conference Call Participants Amanda Douglas - JPMorgan Oliver Chen - TD Cowen Abhinav Sinha - Societe Generale Kunal Madhukar - UBS Blake Anderson - Jefferies Operator Greetings, and welcome to the Mytheresa Second Quarter of Fiscal 2024 Earnings Conference Call. At this time, all participants are in a listen ...
MYTHERESA(MYTE) - 2024 Q2 - Earnings Call Presentation
2024-02-15 13:14
• In November 2023, a five-year strategic partnership was signed between Mytheresa and DHL Express for the use of DHL's GoGreen Plus service. | --- | --- | --- | --- | --- | |----------------------------------|---------------------|-------------------|---------------------|-------------------| | GMV (€MM) | Q2 FY24 1 \n219.1 | YoY GROWTH \n1.5% | H1 FY24 2 \n423.2 | YoY GROWTH \n2.3% | | LTM Active Customers ('000) | 856 | 5.1% | 856 | 5.1% | | LTM Total Orders Shipped ('000) | 2,037 | 8.6% | 2,037 | 8.6% | ...
MYTHERESA(MYTE) - 2024 Q2 - Quarterly Report
2024-02-15 11:01
Exhibit 99.1 INTERIM REPORT For the three and six months ended December 31, 2023 MYT Netherlands Parent B.V. Einsteinring 9 85609 Aschheim/Munich Germany INDEX MYT Netherlands Parent B.V. 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 (Loss), and Ad ...
MYTHERESA(MYTE) - 2024 Q1 - Earnings Call Transcript
2023-11-28 16:57
MYT Netherlands Parent B.V. (NYSE:MYTE) Q1 2024 Earnings Conference Call November 28, 2023 8:00 AM ET Company Participants Martin Beer - Chief Financial Officer Michael Kliger - Chief Executive Officer Conference Call Participants Matthew Boss - JPMorgan Oliver Chen - TD Cowen Blake Anderson - Jefferies Kunal Madhukar - UBS Abhinav Sinha - Societe Generale Yawen Gao - CICC Operator Greetings, and welcome to the Mytheresa First Quarter of Fiscal Year 2024 Earnings Conference Call. At this time, all participa ...