LuxExperience B.V. · NYSE:LUXE
LuxExperience B.V — Mytheresa — Q1 FY2023 Earnings Presentation
28 slides from LuxExperience B.V's earnings presentation, Nov 8, 2022
Slide 1: Investor Presentation
NEW PIC Investor Presentation November 2022
Slide 2: Legal Disclaimer
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 presentati
Slide 3: What You Need to Know about Mytheresa
What You Need to Know about Mytheresa A Unique Business … … with Unique Performance Leading curated top luxury fashion digital platform truly Combining consistent net sales growth > 20% p.a. differentiated in terms of assortment and customer focus outpacing overall online luxury fashion market with
Slide 4: Mytheresa Offers a Unique Investment Opportunity
Mytheresa Offers a Unique Investment Opportunity Outstanding Market Fundamentals A Unique and Differentiated Value Given Resilience of Luxury and High Proposition Recognized Both by Growth Potential of Online Brand Partners and Customers A Highly Loyal and Engaged A Unique Business Model Achieving L
Slide 5: Business Highlights Q1 FY23
Isabel to provide new Updatepicture Picture NEW PIC Business Highlights Q1 FY23
Slide 6: Our Business Highlights Q1 FY23
Our Business Highlights Q1 FY23 • Further accelerated GMV growth with +20.8% vs. Q1 FY22 Strong • Above average GMV growth again in the United States with +28.5% vs. Q1 FY22 Global • High-impact top customer and brand partner events held in Europe and the United States across all major Fashion Weeks
Slide 7: Accelerated GMV Growth in Q1 FY23 Demonstrating Continued Momentum
Accelerated GMV Growth in Q1 FY23 Demonstrating Continued Momentum Quarter over Quarter Gross Merchandise Value (GMV)1 YoY Growth (in %) +20.8% +18.2% +13.2% Q3 FY22 Q4 FY22 Q1 FY23 Notes: 1 “Gross Merchandise Value” (“GMV”) is an operative measure and means the total Euro value of orders processed.
Slide 8: United States Again Outperforming Other Regions in GMV Growth
United States Again Outperforming Other Regions in GMV Growth GMV1 Development United States YoY Growth US Share of GMV (in %) (in %) +41.6% +28.0% +28.5% 16.4% 15.3% 15.4% Q3 FY22 Q4 FY22 Q1 FY23 Q3 FY22 Q4 FY22 Q1 FY23 Notes: 1 “Gross Merchandise Value” (“GMV”) is an operative measure and means th
Slide 9: Unique Events & Experiences for Top Customers of Mytheresa
Unique Events & Experiences for Top Customers of Mytheresa across the World In Q1 FY23 PARIS (07/05) Money can‘t buy experiences Mugler Dinner Style Suites: shopping events with personal shopping PARIS (07/06) Lemaire Cocktail PARIS (09/30) PFW Dinner with Victoria Beckham MILAN (09/22) Hamburg (09/
Slide 10: Chinese Designer Program by Mytheresa
Chinese Designer Program by Mytheresa Will Support Chinese Luxury Designers and the Visibility of Mytheresa in China Highlight and Champion the new Generation of Chinese Fashion Designers The Program: The China Designer Program by Mytheresa celebrates the best of Chinese fashion design by bringing e
Slide 11: High-End Luxury Brand Collaborations in Q1 FY23
High-End Luxury Brand Collaborations in Q1 FY23 Underpinning Mytheresa’s Industry Leading Position GUCCI BOTTEGA VENETA CHLOÉ GIVENCHY Launch of the exclusive Gucci Eyelets Exclusive pre-launch of the collection Exclusive capsule collection only Exclusive launch of the Givenchy x Bags only available
Slide 12: Continued Positive Performance in Recently Acquired Customer Cohorts
Continued Positive Performance in Recently Acquired Customer Cohorts Percent of Customer Q1 FY22 Repurchasing in Q1 Q1 FY23 New Customers Cohort Month July August September April Q4 May June 12
Slide 13: Excellent Growth of Top Customers and Average Spend Per Customer
Excellent Growth of Top Customers as well as Average Spend Per Customer Underlining Quality of Customer Acquisitions Growth of Customers GMV1 per Customer Q1 FY23 vs. Q1 FY22 Q1 FY23 vs. Q1 FY22 All Customers +12.5% +6.5% Top Customers +22.7% +3.9% Notes: 1 “Gross Merchandise Value” (“GMV”) is an op
Slide 14: First ESG Report Published by Mytheresa
First ESG Report Published by Mytheresa Highlighting Progress Against ESG Commitments Key Highlights across our 4 pillars: MYPLANET, MYTALENT, MYPRODUCT and MYPOLICY • Limited our impact on the planet: 90% of electricity from renewable sources1, 90% of waste recycled in HQ and our operations, decrea
Slide 15: Mytheresa's Business Model With Consistent and Strong Performance
Mytheresa’s Business Model With Consistent and Strong Performance Despite Challenging Environment Q1 FY22 Q1 FY23 Operational Indicators Financial Indicators1 AOV Womenswear Gross Profit +0.9 +6.0% Margin pp In € Return Rate Shipping & Womenswear +2.7 -0.1 Payment Cost pp pp In % Margin CAC Marketin
Slide 16: Financial Highlights Q1 FY23
Financial Highlights Q1 FY23
Slide 17: Strong Top-Line Performance in Q1 FY23 and Bottom-Line on Budget
Strong Top-Line Performance in Q1 FY23 and Bottom-Line on Budget Q1 FY221 Q1 FY232 YoY GROWTH Gross Merchandise Value (GMV) (€MM) 163.9 197.9 20.8% LTM Active Customers ('000) 705 800 13.4% LTM Total Orders Shipped ('000) 1,580 1,839 16.4% Net Sales (€MM) 157.8 175.9 11.4% Gross Profit Margin3 49.0%
Slide 18: Strong GMV Growth in Q1 FY23
Strong GMV Growth in Q1 FY23 Gross Merchandise Value (GMV) (€MM) 20.8% Q1 FY23 197.9 163.9 YoY Growth Q1 FY22 Q1 FY23 Q1 FY221 Q1 FY232 YoY Change Gross Merchandise Value (GMV) (€MM) 163.9 197.9 20.8% LTM Active Customers ('000) 705 800 13.4% LTM Total Orders Shipped ('000) 1,580 1,839 16.4% Net Sal
Slide 19: Consistent Gross Profit Growth and Margin Expansion in Q1 FY23
Consistent Gross Profit Growth and Margin Expansion in Q1 FY23 Gross Profit (€MM) 87.8 13.6% Q1 FY23 77.3 YoY Growth Q1 FY22 Q1 FY23 Q1 FY221 Q1 FY232 YoY Change Gross Profit Margin3 49.0% 49.9% 90 bps Shipping & Payment4 12.2% 12.1% (10 bps) Marketing4 13.7% 12.8% (90 bps) SG&A (Adjusted)5 12.6% 14
Slide 20: Consistent Profitability in Q1 FY23
Consistent Profitability in Q1 FY23 Adjusted EBITDA Adjusted Operating Income (€MM) (€MM) % Margin3,4 8.9% 6.6% % Margin3,4 7.5% 5.1% 14.0 (17.4%) (23.6%) 11.6 11.8 Q1 FY23 Q1 FY23 YoY Growth 9.0 YoY Growth Q1 FY22 Q1 FY23 Q1 FY22 Q1 FY23 Q1 FY221 Q1 FY232 YoY Change Adjusted EBITDA4 (€MM) 14.0 11.6
Slide 21: Consistent and Resilient Profitability on all Margin Levels
Consistent and Resilient Profitability on all Margin Levels LTM Quarterly Performance Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 9.1% 9.6% 9.4% 9.6% 9.0% Adjusted EBITDA Margin1,2 LTM 7.8% 8.3% 8.1% 8.3% 7.7% Adjusted EBIT Margin1,2 LTM Adjusted Net Income Margin1,3 5.4% 5.8% 6.0% 6.5% 6.0% LTM Notes:
Slide 22: Confirmed Guidance for FY23
Confirmed Guidance for FY23 Assumptions for Full FY23 Guidance for Full FY23 1 Continued above market average growth in GMV including new customer growth and 1 GMV in the range of €865 million to €910 million, representing 16% to 22% growth increasing sales from existing customers 2 Continued Net Sa
Slide 23: Mytheresa Confirms Its Medium-Term Growth and Margin Targets
Mytheresa Confirms Its Medium-Term Growth and Margin Targets Due To Outstanding Business Model Resilience (€MM) FY222 Actuals Medium-Term Targets1 GMV €747 % Growth 21% Low-Mid Twenties with stable department AOVs and continued Active Customer Growth Net Sales €690 % Growth 13% Gross Profit Margin I
Slide 24: Mytheresa Offers a Unique Investment Opportunity
Mytheresa Offers a Unique Investment Opportunity Outstanding Market Fundamentals A Unique and Differentiated Value Given Resilience of Luxury and High Proposition Recognized Both by Growth Potential of Online Brand Partners and Customers A Highly Loyal and Engaged A Unique Business Model Achieving L
Slide 25: Appendix
MIY THERESA Appendix
Slide 26: Reconciliation to IFRS Metrics
Reconciliation to IFRS Metrics (€MM) FY21 FY22 Q1 FY22 Q1 FY23 Net Income to Adjusted EBITDA: Net Income (32.6) (7.9) (7.3) (3.8) Finance Expenses, Net (15.1) 1.0 0.2 0.4 Income Tax Expense 15.5 11.7 3.4 2.6 Depreciation & Amortization 8.2 9.1 2.2 2.5 EBITDA (23.9) 13.9 (1.5) 1.7 IPO Preparation and
Slide 27: Reconciliation to IFRS Metrics
Reconciliation to IFRS Metrics (€MM) FY21 FY22 Q1 FY22 Q1 FY23 Net Income to Adjusted Operating Income: Net Income (32.6) (7.9) (7.3) (3.8) Finance Expenses, Net (15.1) 1.0 0.2 0.4 Income Tax Expense 15.5 11.7 3.4 2.5 Operating Income (32.2) 4.8 (3.7) (0.9) IPO Preparation and Transaction Costs 7.0
Slide 28: Reconciliation to IFRS Metrics
Reconciliation to IFRS Metrics (€MM) FY21 FY22 Q1 FY22 Q1 FY23 Net Income to Adjusted Net Income: Net Income (32.6) (7.9) (7.3) (3.8) IPO Preparation and Transaction Costs 7.0 -- -- -- Other transaction-related, certain legal -- 2.5 -- 1.5 and other expenses IPO-related Share-based 71.9 49.9 15.5 8.