LuxExperience B.V. · NYSE:LUXE
LuxExperience B.V — Mytheresa — Q3 FY2022 Earnings Presentation
26 slides from LuxExperience B.V's earnings presentation, May 10, 2022
Slide 1: Investor Presentation May 2022
Isabel to provide new picture Investor Presentation May 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
New Picture NEW IMAGE Isabel to provide new Mytheresa Offers a Unique Investment Opportunity ISABEL picture 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 H
Slide 5: Business Highlights Q3 FY22
Isabel to provide new picture Business Highlights Q3 FY22
Slide 6: Our Business Highlights Q3 FY22
Our Business Highlights Q3 FY22 • Solid GMV growth overall with +13.2% vs. Q3 FY21 and +67.0% vs. Q3 FY20 Strong • Strongest GMV growth again in the US with +41.6% vs. Q3 FY21 and increased share of total GMV of 16.4% Global Expansion • Again high-impact top customer events held in Europe, Middle Ea
Slide 7: Continued Growth Momentum in Q3 FY22 Evident in Consistently Strong Two-Year Growth Rate
Continued Growth Momentum in Q3 FY22 Evident in Consistently Strong Two-Year Growth Rate Gross Merchandise Value (GMV)1 YoY Growth Yo2Y Growth +65.3% +67.7% +67.0% +62.5% +37.1% +29.7% +26.2% +13.2% Full FY21 Q1 FY22 Q2 FY22 Q3 FY22 Full FY21 Q1 FY22 Q2 FY22 Q3 FY22 Notes: 1 “Gross Merchandise Value
Slide 8: United States Again Outperforming Other Regions in Growth
United States Again Outperforming Other Regions in Growth and Increasing Importance for Mytheresa GMV Development United States YoY Growth US Share of GMV +83.8% +72.7% +54.9% 16.2% 16.4% 14.5% +41.6% 12.7% Full FY21 Q1 FY22 Q2 FY22 Q3 FY22 Full FY21 Q1 FY22 Q2 FY22 Q3 FY22 8
Slide 9: Unparalleled Line-Up of High-End Luxury Brand Collaborations in Q3 FY22
Unparalleled Line-Up of High-End Luxury Brand Collaborations in Q3 FY22 Underpinning Our Industry Leading Position MANOLO BLAHNIK X MONCLER LOEWE BERLUTI BIRKENSTOCK Exclusive Moncler Grenoble Highly anticipated Loewe Spirited Exclusive products only available at Highly anticipated collaboration wit
Slide 10: A Beauty Pop-Up Produced with Sisley Created High Visibility
A Beauty Pop-Up Produced with French, Plant-Based Skin Care Brand Sisley Created High Visibility for Mytheresa Visibility and Reach Created • 4 weeks beauty pop up with a 360° campaign featuring the first time three generation of women of the founding family: Isabelle D’Ornano, Christina D’Ornano an
Slide 11: Customer Cohorts Acquired in Q3 FY21 Continue to Show Strong Purchasing Behavior
Customer Cohorts Acquired in Q3 FY21 Continue to Show Strong Purchasing Behavior in Q3 FY22 Percent of Customer Q3 FY20 Repurchasing in Q3 FY22 Q3 FY21 New Customers Cohort Month January February March January Q3 February March 11
Slide 12: Continued Growth of Active Customers in Q3 FY22
Continued Growth of Active Customers in Q3 FY22 Evident in Strong Two-Year Growth Rate Active Customers LTM YoY Growth Yo2Y Growth +68.0% +68.1% +66.7% +63.0% +38.0% +35.2% +30.2% +21.6% FY21 Q1 FY22 Q2 FY22 Q3 FY22 FY21 Q1 FY22 Q2 FY22 Q3 FY22 12
Slide 13: Year-to-Date Strong Growth Particularly of Top Customer Numbers and Spend
Year-to-Date Strong Growth Particularly of Top Customer Numbers and Spend per All Customers Growth of Customers GMV1 per Customer FYTD 22 vs. FYTD 21 FYTD 22 vs. FYTD 21 All Customers +17.2% +4.4% Top Customers +33.3% -1.8% Notes: 1 “Gross Merchandise Value” (“GMV”) is an operative measure and means
Slide 14: Business Model Continues to Demonstrate Uniquely Consistent Performance
Mytheresa’s Business Model Continues to Demonstrate Uniquely Consistent Performance also in Q3 FY22 Q3 FY21 Q3 FY22 Operational Indicators Financial Indicators1 AOV Womenswear Gross Profit +4.9 +4.0% Margin pp In € Return Rate Shipping & Womenswear +3.5 +1.8 Payment Cost pp pp In % Margin CAC Market
Slide 15: Financial Highlights Q3 FY22
Isabel to provide new picture NEW IMAGE ISABEL Financial Highlights Q3 FY22
Slide 16: Solid Performance in Q3 FY22 with Accounting Effect in Net Sales
Solid Performance in Q3 FY22 with Accounting Effect in Net Sales of Brands Moved to CPM Q3 FY221 YoY GROWTH FYTD FY222 YoY GROWTH Gross Merchandise Value (GMV) (€MM) 186.6 13.2% 550.6 22.4% LTM Active Customers ('000) 755 21.6% 755 21.6% LTM Total Orders Shipped ('000) 1,703 23.1% 1,703 23.1% Net Sa
Slide 17: Continued Strong Business Growth in Q3 FY22 Despite Challenging External Factors
Continued Strong Business Growth in Q3 FY22 Despite Challenging External Factors Gross Merchandise Value (GMV) (€MM) 550.6 13.2% 186.6 22.4% Q3 FY22 449.7 FYTD FY22 YoY YoY 164.8 Growth Growth Q3 FY21 Q3 FY22 FYTD FY21 FYTD FY22 Q3 FY221 YoY GROWTH FYTD FY222 YoY GROWTH GMV (€MM) 186.6 13.2% 550.6 2
Slide 18: Strong Gross Profit Margin and Consistent Cost Performance
Strong Gross Profit Margin and Consistent Cost Performance Gross Profit (€MM) 260.2 14.4% 24.1% 82.8 209.6 FYTD FY22 Q3 FY22 YoY YoY Growth Growth 72.4 Q3 FY21 Q3 FY22 FYTD FY21 FYTD FY22 Q3 FY221 YoY GROWTH FYTD FY222 YoY GROWTH Gross Profit (€MM) 82.8 14.4% 260.2 24.1% Gross Profit Margin3 48.8% 4
Slide 19: Continued Profitability in Q3 FY22
Continued Profitability in Q3 FY22 Adjusted EBITDA4 Adjusted Operating Income4 (€MM) (€MM) % Margin3 6.8% 6.0% 9.7% 10.2% 9.4% % Margin3 5.5% 4.7% 8.4% 8.9% 8.1% LTM Margin3 LTM Margin3 52.6 45.8 43.7 37.6 (8.1%) (12.6%) Q3 FY22 Q3 FY22 YoY Growth YoY Growth 11.1 10.2 20.2% 9.1 8.0 21.9% FYTD FY22 F
Slide 20: Q3 FY22 Financial Performance Fully in Line with LTM Performance
Q3 FY22 Financial Performance Fully in Line with Mytheresa’s Uniquely Consistent LTM Performance LTM Quarterly Performance Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 65 64 59 55 59 51 Adjusted EBITDA2 LTM (in €MM) Adjusted EBITDA Margin1,2 10% 10% 9% 9% 10% 9% LTM Adjusted EBIT Margin1,2 8% 9%
Slide 21: Full FY22 Results Expected Within Given Guidance at the Low-End
Full FY22 Results Expected Within Given Guidance at the Low- End of the Ranges Assumptions for Full FY22 Guidance for Full FY22 (expected at low-end) 1 Sustained strong new customer quality and existing customer cohort performance 1 GMV in the range of €755 million to €775 million, representing 23%
Slide 22: Continuous Growth and Overall Margin Stability in Our Medium-term Targets
Continuous Growth and Overall Margin Stability in Our Medium-term Targets FY222 Guidance (top- and bottom line (€MM) FY212 Actuals expected at low end) Medium-Term Targets1 GMV €616 €755 - €775 % Growth 37% +23 – 26% Low-Mid Twenties with stable department AOVs and continued Active Customer Growth N
Slide 23: 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 24: Appendix
MIY THERESA Appendix
Slide 25: Reconciliation to IFRS Metrics
Reconciliation to IFRS Metrics (€MM) 2018 2019 2020 2021 Q3 2021 Q3 2022 Net Income to Adjusted EBITDA: Net Income 5.5 1.7 6.4 (32.6) (50.0) (4.3) Finance Expenses, Net 4.8 14.0 11.1 (15.1) (4.6) 0.3 Income Tax Expense 3.5 3.4 3.4 15.5 3.8 2.0 Depreciation & Amortization 6.8 7.7 7.9 8.2 2.0 2.3 EBIT
Slide 26: Reconciliation to IFRS Metrics
Reconciliation to IFRS Metrics (€MM) 2018 2019 2020 2021 Q3 2021 Q3 2022 Net Income to Adjusted Net Income: Net Income 5.5 1.7 6.4 (32.6) (50.0) (4.3) One-time US Sales Tax Expenses -- 1.5 1.3 -- -- -- Strategic Investor Sale Preparation Costs -- 2.1 -- -- -- -- IPO Preparation and Transaction Costs