MYT Netherlands Parent B.V. (NYSE:MYTE) Q4 2023 Earnings Conference Call September 14, 2023 8:00 AM ET Company Participants Martin Beer - CFO Michael Kliger - CEO Conference Call Participants Matthew Boss - JPMorgan Oliver Chen - TD Cowen Kunal Madhukar - UBS Blake Anderson - Jefferies Abhinav Sinha - Societe Generale Yawen Gao - CICC Operator Greetings, and welcome to the Mytheresa Fourth Quarter and Full Fiscal 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. Today' ...

Exhibit 99.1 Q4 and Full FY23 Results: Mytheresa reports excellent results with 15% GMV growth and strong profitability for full fiscal year 2023 MUNICH, Germany (September 14, 2023) – 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 2023 ended June 30, 2023. The luxury multi-brand digital platform reported excellent financial performance both for the fourth quart ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF ...

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. Our Business Highlights Q3 FY23 • Good customer satisfaction with Net Promoter Score of 72.1% in Q3 FY23 +28.5% +12.7% +27.4% Q1 FY23 Q2 FY23 Q3 FY23 15.4% ...

Financial Data and Key Metrics Changes - The company reported a GMV of €219.8 million in Q3 2023, growing 17.8% compared to €186.6 million in the prior year quarter, with a constant currency growth of 15.4% [56] - Net sales increased by €29.4 million or 17.3% to €198.9 million, influenced by brands transitioning to the Curated Platform Model [57] - Gross profit margin in Q3 was 45.6%, a decrease of 320 basis points from 48.8% in the prior year, attributed to increased promotional intensity by competitors [28][49] - Adjusted EBITDA margin was 1.6%, down from 6.4% in the prior year quarter, primarily due to lower gross profit margin [64] Business Line Data and Key Metrics Changes - The top customer base grew by 28.1% compared to Q3 of fiscal year 2022, with average spend per top customer increasing by 6.7% [11][26] - Overall business with top customers grew by 36.8% in GMV compared to Q3 of fiscal year 2022, accounting for 36.0% of total GMV [11][12] - The average last 12 months order value increased by 3.9% in Q3 2023 compared to fiscal year 2022, driven by expansion across luxury categories [16] Market Data and Key Metrics Changes - In the United States, GMV growth was 27.4% compared to Q3 of fiscal year 2022, with the U.S. share of total GMV increasing to 17.7% [15] - Europe experienced a GMV growth of 19.2% compared to Q3 of fiscal year 2022, while Greater China was still impacted by COVID-19 [46][121] - The company reported a 44% share of net sales outside Europe for fiscal year-to-date 2023, up from 41% in the previous year [58] Company Strategy and Development Direction - The company remains focused on high-end wardrobe-building customers and luxury brand partnerships, positioning itself to benefit from ongoing growth in the luxury sector [4][25] - The company is committed to full-price selling and excellence in operations, despite aggressive promotional activities from competitors [3][24] - Recent milestones include the launch of exclusive collaborations with luxury brands and the expansion into new luxury categories, such as pre-owned watches [20][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's resilience and ability to achieve growth despite macroeconomic headwinds and competitive pressures [8][25] - The company anticipates a recovery in the Chinese luxury consumer market, supported by recent marketing activations [50][121] - Management views current promotional pressures as transitory and expects to return to normalized inventory levels without excessive clearance activities [60][80] Other Important Information - The company ended Q3 with cash and cash equivalents of €13 million, no long-term bank debt, and an equity ratio of 69%, providing flexibility compared to competitors [86] - Adjusted SG&A expenses increased to €29.7 million, with a ratio of 13.5% of GMV, reflecting higher personnel costs and energy expenses [32] Q&A Session Summary Question: Trends in U.S. luxury demand - Management noted that aspirational customers are slowing down their consumption, while high-end customers continue to show strong demand [70][90] Question: Medium or long-term EBITDA margin targets - Management confirmed that current profitability levels remain stable despite macro challenges, and they are focused on maintaining a strong performance [72][91] Question: Competitive landscape and inventory management - Management highlighted that platforms with a high share of aspirational buyers are facing challenges, while Mytheresa's focus on high-end customers positions it well [93][122] Question: Expectations for China and inventory levels - Management acknowledged that Greater China was still recovering from COVID impacts but noted positive signs of recovery following recent marketing efforts [77][121] Question: Strategy on promotionality and inventory management - Management reiterated their commitment to full-price selling and cautious inventory management, emphasizing the importance of maintaining gross profit margins [125][126]

Exhibit 99.1 INTERIM REPORT For the three and nine months ended March 31, 2023 MYT Netherlands Parent B.V. Einsteinring 9 85609 Aschheim/Munich Germany MYT Netherlands Parent B.V. Financial Results and Key Operating Metrics (Amounts in € millions) 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 | | | OPERATIONS | 25 | | QUANTITATIVE AND QU ...

Matthew Boss Michael Kliger Oliver Chen Your next question comes from the line of Liwei Hou with CIBC. Matthew Boss This is Dan Silverstein on for Michael. Just firstly, it was nice to see top customer growth in the number of firsttime buyers accelerated in the quarter. Given the pressure cited on the intermittent luxury shopper, what are you doing today to turn recent customer adds into top customers? And can you speak to any positive indicators within recent cohorts, which kind of show the evolution of tu ...

MYT Netherlands Parent B.V. (NYSE:MYTE) Q1 2023 Results Conference Call November 8, 2022 8:00 AM ET Company Participants Martin Beer - CFO Michael Kliger - CEO Conference Call Participants Oliver Chen - Cowen Matthew Boss - JPMorgan Michael Binetti - Credit Suisse Kunal Madhukar - UBS Flavio Cereda-Parini - Jefferies Lauren Schenk - Morgan Stanley Abhinav Sinha - Societe General Operator Ladies and gentlemen, greetings, and welcome to the Mytheresa First Quarter of Fiscal 2023 Earnings Conference Call [Oper ...

[Dutch Statutory Directors and Supervisory Board Report](index=3&type=section&id=DUTCH%20STATUTORY%20DIRECTORS%20AND%20SUPERVISORY%20BOARD%20REPORT) [Introduction](index=3&type=section&id=1.%20Introduction) This section details the annual report's preparation basis, defines key performance indicators, and includes a forward-looking statements disclaimer - The annual report has been prepared by management and approved by the management and supervisory boards, complying with the Dutch Civil Code (DCC) and International Financial Reporting Standards (IFRS) as adopted by the EU[7](index=7&type=chunk) - The report defines several key performance indicators used by management, such as "active customer," "**Adjusted EBITDA**," "**Gross Merchandise Value (GMV)**," and "**lifetime value (LTV)**," which are crucial for understanding the company's performance analysis[8](index=8&type=chunk)[9](index=9&type=chunk) - The report contains forward-looking statements that involve risks and uncertainties. Key risk factors mentioned include industry competition, consumer demand shifts, the impact of health epidemics like COVID-19, and general economic conditions[10](index=10&type=chunk)[12](index=12&type=chunk) [Company and Business Overview](index=6&type=section&id=2.%20Company%20and%20Business%20Overview) This section outlines Mytheresa's history, corporate structure, and operations as a leading luxury e-commerce platform, detailing its value proposition, strengths, and growth strategies - Mytheresa is a leading luxury e-commerce platform shipping to over 130 countries, offering curated products from more than 200 coveted brands. It originated from the Theresa boutique in Munich, founded over 30 years ago, and launched its digital platform in 2006[20](index=20&type=chunk) Fiscal 2022 Performance Highlights | Metric | FY 2022 | Growth vs FY 2021 | | :--- | :--- | :--- | | Net Sales | €689.8 million | 12.7% | | Gross Merchandise Value (GMV) | €747.3 million | 21.3% | | Active Customers | 781,000 | 16.4% | | Adjusted Net Income | €44.5 million | 38.6% | | Adjusted EBITDA | €66.4 million | 20.7% | - The company targets high-income, time-constrained luxury consumers. In fiscal 2022, approximately **3% of customers**, part of the "Top Customer program," generated about **35% of the company's GMV**[21](index=21&type=chunk) - Mytheresa's growth strategies include profitably acquiring new customers, expanding share of wallet with existing customers, and accessing new complementary categories such as **Kidswear** (launched 2019), **Menswear** (launched 2020), and **Life** (launched 2022)[59](index=59&type=chunk)[61](index=61&type=chunk)[62](index=62&type=chunk)[64](index=64&type=chunk)[66](index=66&type=chunk) [Financial Overview](index=18&type=section&id=3.%20Financial%20Overview) This section provides a detailed financial review for FY2022, including key metrics, non-IFRS reconciliations, management's analysis of operations, and impacts from global events [Selected financial data](index=18&type=section&id=3.1.%20Selected%20financial%20data) Key Performance and Financial Metrics (FY2020-FY2022) | Metric | FY 2020 | FY 2021 | FY 2022 | FY22 vs FY21 Change | | :--- | :--- | :--- | :--- | :--- | | Gross Merchandise Value (GMV) (in € millions) | €449.5 | €616.1 | €747.3 | 21.3% | | Active customers (LTM, in thousands) | 486 | 671 | 781 | 16.4% | | Total orders shipped (LTM, in thousands) | 1,092 | 1,505 | 1,765 | 17.2% | | Average order value (LTM, in €) | 600 | 595 | 626 | 5.2% | | Net sales (in € millions) | €449.5 | €612.1 | €689.8 | 12.7% | | Gross profit margin | 46.7% | 46.9% | 51.5% | 460 BPs | | Adjusted EBITDA margin | 7.9% | 9.0% | 9.6% | 60 BPs | | Adjusted Net Income (in € millions) | €19.3 | €32.1 | €44.5 | 38.6% | Reconciliation of Net Income to Adjusted EBITDA (in € thousands) | Line Item | FY 2020 | FY 2021 | FY 2022 | | :--- | :--- | :--- | :--- | | **Net income (loss)** | **6,350** | **(32,604)** | **(7,898)** | | Finance income (expenses), net | 11,119 | (15,091) | 998 | | Income tax expense | 3,441 | 15,534 | 11,734 | | Depreciation and amortization | 7,885 | 8,232 | 9,088 | | **EBITDA** | **28,795** | **(23,929)** | **13,922** | | IPO preparation and transaction costs | 5,206 | 6,984 | - | | Other transaction-related, legal and other expenses | - | - | 2,493 | | IPO related share-based compensation | 65 | 71,889 | 49,919 | | **Adjusted EBITDA** | **35,400** | **54,944** | **66,334** | Reconciliation of Net Income to Adjusted Net Income (in € thousands) | Line Item | FY 2020 | FY 2021 | FY 2022 | | :--- | :--- | :--- | :--- | | **Net Income (loss)** | **6,350** | **(32,604)** | **(7,898)** | | IPO preparation and transaction costs | 5,206 | 6,984 | - | | Other transaction-related, legal and other expenses | - | - | 2,493 | | IPO related share-based compensation | 65 | 71,889 | 49,919 | | Finance expense (income) on shareholder loans | 9,645 | (16,224) | - | | Income tax effect | (3,306) | 2,073 | - | | **Adjusted Net Income** | **19,294** | **32,118** | **44,514** | [Management's discussion and analysis of financial condition and results of operations](index=23&type=section&id=3.2.%20Management's%20discussion%20and%20analysis%20of%20financial%20condition%20and%20results%20of%20operations) - Net sales grew **12.6% to €689.8 million** in FY2022, while net loss decreased from **€32.6 million to €7.9 million**. Adjusted Net Income improved to **€44.5 million** from **€32.1 million** in the prior year[93](index=93&type=chunk) - Customer acquisition and engagement are key performance drivers, measured by Customer Acquisition Cost (CAC) and Lifetime Value (LTV). The fiscal 2016 cohort demonstrated a **3.2x 6-year LTV to CAC ratio**, indicating efficient marketing spend and long-term customer profitability[98](index=98&type=chunk)[101](index=101&type=chunk)[104](index=104&type=chunk) - The company maintained strong customer loyalty, with approximately **83% of net sales** from prior year cohorts retained in fiscal 2022. Cohorts from 2019 and earlier showed net sales retention **greater than 100%**, indicating increased spending from loyal customers over time[109](index=109&type=chunk)[110](index=110&type=chunk) - The Curated Platform Model (CPM) is a key strategic initiative that integrates with brand partners' retail operations. Under CPM, Mytheresa acts as an agent, earning platform fees recorded as net sales, which improves capital efficiency but affects the comparison between GMV and net sales growth in the short term[118](index=118&type=chunk)[120](index=120&type=chunk) Consolidated Statement of Operations (in € thousands) | Line Item | FY 2021 | FY 2022 | | :--- | :--- | :--- | | Net sales | 612,096 | 689,750 | | Gross profit | 287,043 | 354,992 | | Operating income (loss) | (32,162) | 4,834 | | Net income (loss) | (32,604) | (7,898) | - Gross profit margin increased from **46.9%** in FY2021 to **51.5%** in FY2022, primarily driven by the growing share of CPM revenue, for which no cost of sales is recognized by the company[134](index=134&type=chunk) [Impacts to the consolidated financial statements due to Covid-19 pandemic, cost inflation, sanctions on Russia and war in Ukraine](index=37&type=section&id=3.3.%20Impacts%20to%20the%20consolidated%20financial%20statements%20due%20to%20Covid-19%20pandemic,%20cost%20inflation,%20sanctions%20on%20Russia%20and%20war%20in%20Ukraine) - The company has not experienced material declines in revenue or significant supply chain disruptions from the COVID-19 pandemic, although China continues to be affected by local lockdowns[175](index=175&type=chunk)[176](index=176&type=chunk) - Net sales growth was lower in fiscal 2022 compared to 2021, partially due to the war in Ukraine, sanctions on Russia, and COVID-related effects in Asia, which impacted customer sentiment for luxury products. The company has stopped all services to Russia, Belarus, and Ukraine[182](index=182&type=chunk) - The company is exposed to cost inflation on energy, logistics, and labor, but notes that demand for luxury products has been less affected by inflation than other industries[181](index=181&type=chunk) [Risk Management and Risk Factors](index=38&type=section&id=4.%20Risk%20Management%20and%20Risk%20Factors) This section details the company's risk management framework and key risk factors, including competition, consumer spending, brand relationships, and regulatory compliance [Controls and Procedures](index=39&type=section&id=4.1.%20Controls%20and%20Procedures) - Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of June 30, 2022[188](index=188&type=chunk) - Management concluded that the company's internal control over financial reporting was effective as of June 30, 2022, based on the criteria from the Committee of Sponsoring Organizations of the Treadway Commission (COSO) framework[189](index=189&type=chunk) [Risk Factors](index=40&type=section&id=4.2.%20Risk%20Factors) - The online luxury sector is highly competitive and fragmented. Competition from global multi-brand retailers, mono-brand retailers, and department stores could lead to pricing pressure and loss of customers or brand partners[194](index=194&type=chunk)[196](index=196&type=chunk) - The business is reliant on discretionary consumer spending, which can be adversely affected by economic downturns, inflation, and geopolitical events like the war in Ukraine[222](index=222&type=chunk) - A significant portion of net sales comes from a limited number of brand partners. Any deterioration in these relationships could limit the supply of merchandise and adversely affect the business[214](index=214&type=chunk)[225](index=225&type=chunk) - The company's ability to deliver merchandise depends on a single distribution facility in Heimstetten, Germany, creating a risk of disruption. A new facility is under construction in Leipzig to mitigate this[251](index=251&type=chunk) - The business is subject to complex and evolving data privacy regulations globally, including GDPR in Europe, CCPA in California, and PIPL in China. Non-compliance could result in significant fines, reputational damage, and operational changes[297](index=297&type=chunk)[299](index=299&type=chunk)[301](index=301&type=chunk)[305](index=305&type=chunk) - The company is exposed to risks from international trade laws, including tariffs (such as U.S. Section 301 duties on Chinese goods), customs duties, and regulations related to forced labor (like the U.S. UFLPA), which could increase costs and disrupt the supply chain[338](index=338&type=chunk)[340](index=340&type=chunk)[341](index=341&type=chunk) [Corporate Governance](index=97&type=section&id=5.%20Corporate%20Governance) This section describes the company's two-tiered corporate governance structure, board responsibilities, committee functions, and deviations from the Dutch Corporate Governance Code - The company has a two-tiered board structure consisting of a Management Board for day-to-day operations and a Supervisory Board for oversight and advice[506](index=506&type=chunk) - The Supervisory Board has two committees: the Audit Committee, which oversees financial reporting and internal controls, and the Nominating, Governance and Compensation Committee, which handles board appointments, governance policies, and executive compensation[531](index=531&type=chunk)[533](index=533&type=chunk)[535](index=535&type=chunk) - The company does not fully comply with all best practices of the Dutch Corporate Governance Code, citing the need to align with NYSE and U.S. market practices. Key deviations relate to the independence of some Supervisory Board members and the remuneration of board members with share grants[552](index=552&type=chunk)[556](index=556&type=chunk)[560](index=560&type=chunk) - The company has adopted a Code of Business Conduct & Ethics covering conflicts of interest, compliance, and corporate policies like diversity and inclusion[564](index=564&type=chunk) [Compensation Report](index=110&type=section&id=6.%20Compensation%20Report) This section outlines the Management Board's compensation policy, comprising base salary, STI cash bonuses, and LTI equity awards, detailing FY2022 compensation amounts - The compensation for Management Board members consists of three main elements: base salary, an annual short-term incentive (STI) cash bonus, and a long-term incentive (LTI) of equity-based awards[571](index=571&type=chunk) - The annual STI award is based on two performance goals: a gross profit goal and an adjusted EBITDA goal, set annually by the Supervisory Board[575](index=575&type=chunk) - In connection with the IPO, the company adopted the 2020 Omnibus Incentive Compensation Plan, which includes an "Alignment Grant" (stock options) and a "Restoration Grant" (phantom shares) for key management[569](index=569&type=chunk)[584](index=584&type=chunk) Total Compensation for FY 2022 (in € thousands) | Group | Total Compensation | Share-Based Compensation Component | | :--- | :--- | :--- | | Management Board | €43,716 | €39,680 | | Supervisory Board | €1,162 | €524 | [Related Party Disclosures](index=114&type=section&id=7.%20Related%20Party%20Disclosures) This section refers to detailed related party transactions in financial notes, confirms no material conflicts of interest, and notes board indemnification agreements - Details on related party transactions for fiscal 2022 can be found in Note 26 of the Consolidated Financial Statements[599](index=599&type=chunk) - No material transactions involving a conflict of interest with members of the management or supervisory boards occurred in fiscal 2022[599](index=599&type=chunk) - The company has entered into indemnification agreements with its management and supervisory board members, as required by its articles of association[601](index=601&type=chunk) [Protective Measures](index=115&type=section&id=8.%20Protective%20Measures) This section describes protective measures in the company's articles of association, including binding board nominations and board-approved proposals for key shareholder resolutions - The company's articles include protective measures allowed under Dutch law to safeguard company interests[603](index=603&type=chunk) - Board members can only be appointed via a binding nomination from the supervisory board, which can only be overturned by a two-thirds majority vote representing at least half of the issued share capital[605](index=605&type=chunk) - Material resolutions, such as issuing shares, amending articles, or mergers, can only be adopted by the General Meeting upon a proposal from the management board that has been approved by the supervisory board[605](index=605&type=chunk) [Financial Statements Fiscal Year 2022](index=118&type=section&id=FINANCIAL%20STATEMENTS%20FISCAL%20YEAR%202022) [Consolidated Financial Statements as of June 30, 2022](index=118&type=section&id=9.%20Consolidated%20Financial%20Statements%20as%20of%20June%2030,%202022) This section presents the audited consolidated financial statements for FY2022, including profit and loss, financial position, equity, and cash flow statements, with detailed notes on accounting policies and disclosures Consolidated Statement of Profit and Loss (in € thousands) | Line Item | FY 2021 | FY 2022 | | :--- | :--- | :--- | | Net sales | 612,096 | 689,750 | | Gross profit | 287,043 | 354,992 | | Operating income (loss) | (32,162) | 4,834 | | Net income (loss) | (32,604) | (7,898) | | Basic and diluted earnings per share (€) | (0.42) | (0.09) | Consolidated Statement of Financial Position (in € thousands) | Line Item | June 30, 2021 | June 30, 2022 | | :--- | :--- | :--- | | **Total Assets** | **521,941** | **614,776** | | Inventories | 247,054 | 230,144 | | Cash and cash equivalents | 76,760 | 113,507 | | **Total Shareholders' Equity** | **385,718** | **431,667** | | **Total Liabilities** | **136,223** | **183,109** | Consolidated Statement of Cash Flows (in € thousands) | Line Item | FY 2021 | FY 2022 | | :--- | :--- | :--- | | Net cash (outflow) inflow from operating activities | (16,486) | 54,840 | | Net cash outflow from investing activities | (2,894) | (11,923) | | Net cash (outflow) inflow from financing activities | 86,790 | (6,095) | | **Net increase (decrease) in cash** | **67,411** | **36,822** | - In fiscal 2022, share-based compensation expense recognized was **€52.3 million**, primarily related to the IPO Alignment Grant (**€49.8 million**). This is a decrease from the **€75.3 million** recognized in fiscal 2021[863](index=863&type=chunk) [Separate Financial Statements as of June 30, 2022](index=169&type=section&id=10.%20Separate%20Financial%20Statements%20as%20of%20June%2030,%202022) This section presents the separate financial statements for MYT Netherlands Parent B.V. for FY2022, including the statement of financial position and profit and loss, with notes on accounting principles and intercompany balances Separate Statement of Financial Position (in € thousands) | Line Item | June 30, 2021 | June 30, 2022 | | :--- | :--- | :--- | | **Total Assets** | **395,464** | **458,414** | | Participating interest in group companies | 385,847 | 430,188 | | **Total Shareholders' Equity** | **385,290** | **431,313** | | **Total Liabilities** | **10,174** | **27,101** | Separate Statement of Profit and Loss (in € thousands) | Line Item | FY 2021 | FY 2022 | | :--- | :--- | :--- | | Share in results from participating interests, after taxation | 43,452 | 33,426 | | Other income and expenses, after taxation | (76,056) | (41,324) | | **Net result** | **(32,604)** | **(7,898)** | - The parent company's financial fixed assets consist primarily of its participating interest in group companies, which is accounted for using the equity method. The value increased from **€385.8 million** in FY2021 to **€430.2 million** in FY2022, driven by the subsidiary's profit and capital contributions related to share-based compensation[902](index=902&type=chunk)[907](index=907&type=chunk) [Other Information](index=183&type=section&id=OTHER%20INFORMATION) [Other Information](index=183&type=section&id=11.%20Other%20information) This section outlines the rules for profit appropriation as per the Articles of Association, detailing requirements for distributions from equity exceeding legal reserves - Under the company's Articles of Association, distributions can be made from equity that exceeds legally required reserves[961](index=961&type=chunk) - Resolutions to make distributions can be made by the management board with supervisory board approval, or by the general meeting based on a proposal from the management board that has been approved by the supervisory board[962](index=962&type=chunk)[963](index=963&type=chunk) [Independent Auditor's Report](index=183&type=section&id=12.%20Independent%20auditor's%20report) This section presents KPMG's unqualified auditor's report for FY2022, confirming true and fair financial statements and highlighting revenue recognition as a key audit matter - The independent auditor, KPMG Accountants N.V., issued an unqualified opinion on both the consolidated and separate financial statements for the year ended June 30, 2022[968](index=968&type=chunk) - The materiality for the financial statements as a whole was determined to be **€4.6 million**, based on **0.66% of net sales**[972](index=972&type=chunk)[973](index=973&type=chunk) - The key audit matter identified was the "Correct cut-off of revenue recognition." This was significant due to the presumed fraud risk related to management override of controls and the judgment required in estimating returns and determining when control of goods is transferred to the customer at year-end[972](index=972&type=chunk)[993](index=993&type=chunk)[994](index=994&type=chunk) - The auditor concluded that the other information in the annual report is consistent with the financial statements and does not contain material misstatements[1001](index=1001&type=chunk)

Investor Presentation September 2022 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 ...