LuxExperience B.V. · NYSE:LUXE
LuxExperience B.V — Mytheresa — FY2024 Earnings Presentation
28 slides from LuxExperience B.V's earnings presentation, Sep 12, 2024
Slide 1: Investor Presentation
Investor Presentation September 2024
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 double-digit, multi-year GMV differentiated in terms of assortment and customer focus growth outpacing overall online luxury fashion mark
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 Q4 FY24 & Full FY24
Business Highlights Q4 FY24 & Full FY24
Slide 6: Our Business Highlights Q4 FY24 & Full FY24
Our Business Highlights Q4 FY24 & Full FY24 • Accelerated GMV growth in H2 of FY24 as compared to H1 with +11.4% vs. H2 of FY23 and for full FY24 +7.1% vs. full FY23 • Continued strong GMV growth in the United States of +22.8% in FY24 vs. FY23 and total GMV share of the US further Strong expanding t
Slide 7: Strong Acceleration of GMV Growth in H2 Driving Business Growth for Full FY24
Strong Acceleration of GMV Growth in H2 Driving Business Growth for Full FY24 Gross Merchandise Value (GMV)1 YoY Growth Yo2Y Growth (in %) (in %) +28.5% +11.4% +22.6% +16.3% +7.1% +2.5% H1 FY24 H2 FY24 Full FY24 H1 FY24 H2 FY24 Full FY24 Notes: 1 “Gross Merchandise Value” (“GMV”) is an operative mea
Slide 8: Continued Strong Growth in the United States And Increasing Share of Global GMV
Continued Strong Growth in the United States And Increasing Share of Global GMV in FY24 GMV1 Development United States YoY Growth US Share of GMV (in %) (in %) +25.2% +22.8% +19.8% 20.7% 19.9% 18.9% H1 FY24 H2 FY24 Full FY24 H1 FY24 H2 FY24 Full FY24 Notes: 1 “Gross Merchandise Value” (“GMV”) is an
Slide 9: Unique Events & Experiences For Top Customers Across the World In Q4 FY24
Unique Events & Experiences For Top Customers Of Mytheresa Across the World In Q4 FY24 Money can‘t buy experiences Style Suites: shopping events with personal shopping New York (05/14) VIC event Lago d´Órta (05/03&4) Hamptons (06/27) 2-day Italian experience Launch Party Summer Holiday Pop-Up Hampto
Slide 10: Mytheresa and Flamingo Estate Create Another Successful Immersive Luxury Shopping Experience
Mytheresa and Flamingo Estate Create Another Successful Immersive Physical Luxury Shopping Experience in East Hampton Creating a true destination in East Hampton • Unique Immersive experience: Interactive 8 week pop-up experience to inspire and entertain our customer with an immersive physical luxur
Slide 11: High-End Luxury Brand Collaborations in Q4 FY24
High-End Luxury Brand Collaborations in Q4 FY24 Underpinning Mytheresa’s Industry Leading Luxury Position DOLCE & GABBANA GIVENCHY LOEWE X ON VALENTINO Launch of the exclusive Capri-inspired Launch of the Givenchy’s exclusive Launch of the LOEWE X ON WW and Launch of the Valentino Exclusive capsule
Slide 12: Mytheresa Builds a Community for Luxury Enthusiasts Through Money-Can't Buy Experiences
Mytheresa Builds a Community for Luxury Enthusiasts Through Extraordinary Money-Can´t Buy Experiences Creating desirability through physical experiences • Building a community for luxury enthusiasts: Bringing together true luxury brands and high-end luxury customers from all over the world • 3 extra
Slide 13: Customer Cohorts Acquired in Q1 FY24 Show Stable Repurchase Rates
Customer Cohorts Acquired in Q1 FY24 Show Stable Repurchase Rates in Q4 vs. Q1 FY23 Cohorts Percent of Customer Q1 FY23 Repurchasing in Q4 (Nine Months Later) Q1 FY24 New Customers Cohort Month April May June July Q1 August September 13
Slide 14: Strong Growth Of Top Customers And Spend Per Customer
Strong Growth Of Top Customers And Spend Per Customers Confirms High Quality Of Customer Base Growth of Customers GMV1 per Customer Q4 FY24 vs. Q4 FY23 Q4 FY24 vs. Q4 FY23 All Customers -1.6% 7.4% Top Customers 3.4% 4.6% Notes: 1 “Gross Merchandise Value” (“GMV”) is an operative measure and means th
Slide 15: Strong Expansion of Top Customer GMV
Strong Expansion of Top Customer GMV Demonstrates Unique Positioning and Strength of Mytheresa Business Top Customers Development Share of Total Customers Share of Total GMV (in %) (in %) 38.5% 39.2% 32.6% 34.0% +3.5% +3.7% +2.9% +3.1% Full FY21 Full FY22 Full FY23 Full FY24 Full FY21 Full FY22 Full
Slide 16: Business Model Continues to Show Strong Performance and Consistency in Q4 FY24
Mytheresa’s Business Model Continues to Demonstrates Strong Performance and Consistency in Q4 FY24 Despite Macro Headwinds Q4 FY23 Q4 FY24 Operational Indicators Financial Indicators1 AOV Womenswear Gross Profit -1.5 +6.0% Margin pp In Return Rate Shipping & Womenswear +3.6 +0.7 Payment Cost pp pp I
Slide 17: Financial Highlights Q4 FY24 & Full FY24
Financial Highlights Q4 FY24 & Full FY24
Slide 18: Strong Profitable Growth With Improved Performance in Q4 FY24
Strong Profitable Growth With Improved Performance in Q4 FY24 Q4 FY241 YoY GROWTH Full FY242 YoY GROWTH Gross Merchandise Value (GMV) (MM) 239.3 7.8% 913.6 7.1% LTM Active Customers ('000) 852 (0.5%) 852 (0.5%) LTM Total Orders Shipped ('000) 2,090 3.9% 2,090 3.9% Net Sales (MM) 223.2 9.7% 840.9 9.8
Slide 19: GMV and Net Sales Growth Based on Continued Momentum in Q4 FY24
GMV and Net Sales Growth Based on Continued Momentum in Q4 FY24 Gross Merchandise Value (GMV) (MM) 7.8% 853.2 7.1% 913.6 Q4 FY24 239.3 Full 24 221.9 YoY YoY Growth Growth Q4 FY23 Q4 FY24 Full FY23 Full FY24 Q4 FY241 YoY GROWTH Full FY242 YoY GROWTH GMV (MM) 239.3 7.8% 913.6 7.1% LTM Active Customers
Slide 20: Significant Cost Efficiencies In Marketing Achieved
Significant Cost Efficiencies In Marketing Achieved Gross Profit (MM) 6.3% 380.0 1.2% 384.5 Q4 FY24 FYTD 24 YoY 105.8 YoY Growth Growth 99.5 Q4 FY23 Q4 FY24 Full FY23 Full FY24 Q4 FY241 YoY GROWTH Full FY242 YoY GROWTH Gross Profit (MM) 105.8 6.3% 384.5 1.2% Gross Profit Margin3 47.4% (150bps) 45.7%
Slide 21: Significantly Improved Profitability Level in Q4 FY24
Significantly Improved Profitability Level in Q4 FY24 Adjusted EBITDA4 Adjusted Operating Income4 (MM) (MM) % Margin 3.5% 4.7% 5.0% 3.1% % Margin 1.9% 2.9% 3.5% 1.3% 38.4 25.8 26.8 10.6 10.6 7.0 6.5 3.9 Q4 FY23 Q4 FY24 Full FY23 Full FY24 Q4 FY23 Q4 FY24 Full FY23 Fully FY24 Q3 FY241 YoY GROWTH FYTD
Slide 22: Guidance For Full FY25 Again Anticipating Profitable Growth
Guidance For Full FY25 Again Anticipating Profitable Growth For Mytheresa Assumptions for Full FY25 Top- and Bottomline Guidance for Full FY25 GMV and Net Sales growth in the range of 1 Continued above market growth in GMV and Net Sales capturing market share 1 7% to 13% 2 Continued excellent Top Cu
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) FY242 Actuals Medium-Term Targets1 GMV 914 % Growth 7% Low twenties with stable department AOVs and continued Active Customer Growth Net Sales 841 % Growth 10% Gross Profit Margin Increasin
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) Full FY23 Full FY24 Q4 FY23 Q4 FY24 Net Income to Adjusted EBITDA: Net Income (17.0) (24.9) (5.4) (3.6) Finance Expenses. Net 2.5 4.8 1.0 1.3 Income Tax Expense 5.9 (1.8) 1.8 0.7 Depreciation & Amortization 11.7 15.2 3.2 4.1 EBITDA 3.0 (6.7) 0.5 2.5 Other transac
Slide 27: Reconciliation to IFRS Metrics
Reconciliation to IFRS Metrics (€MM) Full FY23 Full FY24 Q4 FY23 Q4 FY24 Net Income to Adjusted Operating Income: Net Income (17.0) (24.9) (5.4) (3.6) Finance Expenses. Net 2.5 4.8 1.0 1.3 Income Tax Expense 5.9 (1.8) 1.8 0.7 Operating Income (8.7) (22.0) (2.6) (1.6) Other transaction-related. certa
Slide 28: Reconciliation to IFRS Metrics
Reconciliation to IFRS Metrics (€MM) Full FY23 Full FY24 Q4 FY23 Q4 FY24 Net Income to Adjusted Net Income: Net Income (17.0) (24.9) (5.4) (3.6) Other transaction-related. certain legal and other 5.4 14.1 1.8 3.9 expenses Share-based Compensation1 30.0 18.5 4.7 4.2 Adjusted Net Income 18.4 7.7 1.1 4