LuxExperience B.V. · NYSE:LUXE
LuxExperience B.V — Mytheresa — Q3 FY2024 Earnings Presentation
26 slides from LuxExperience B.V's earnings presentation, May 15, 2024
Slide 1: Investor Presentation May 2024
Investor Presentation May 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 Q3 FY24
MIYTHERESA Business Highlights Q3 FY24
Slide 6: Our Business Highlights Q3 FY24
Our Business Highlights Q3 FY24 • Exceptional GMV growth despite ongoing macro headwinds with +14.7% in Q3 FY24 vs. Q3 FY23 • Outstanding GMV growth in the United States of +41.6% in Q3 FY24 vs. Q3 FY23 and total GMV share of the US further Strong expanding to 22.3% Global • High-impact top customer
Slide 7: Exceptional GMV Growth in Q3 FY24 Despite Ongoing Macro Headwinds
Exceptional GMV Growth in Q3 FY24 Despite Ongoing Macro Headwinds Gross Merchandise Value (GMV)1 YoY Growth Yo2Y Growth (in %) (in %) +35.2% +14.7% +24.5% +9.4% +3.1% +1.5% Q1 FY24 Q2 FY24 Q3 FY24 Q1 FY24 Q2 FY24 Q3 FY24 Notes: 1 “Gross Merchandise Value” (“GMV”) is an operative measure and means th
Slide 8: Continued Success Story in the United States With Outstanding GMV Growth
Continued Success Story in the United States With outstanding GMV Growth And Increasing Share of Global GMV GMV1 Development United States YoY Growth US Share of GMV (in %) (in %) +41.6% 22.3% 18.7% 19.2% +25.1% +15.1% Q1 FY24 Q2 FY24 Q3 FY24 Q1 FY24 Q2 FY24 Q3 FY24 Notes: 1 “Gross Merchandise Value
Slide 9: Unique Events & Experiences For Top Customers Across the World
Unique Events & Experiences For Top Customers Of Mytheresa Across the World In Q3 FY24 Money can‘t buy experiences Style Suites: shopping events with personal shopping New York (02/08) NYFW industry event at Temple Bar New York (02/13) VIC dinner Brooklyn (03/12) Paris (01/24) VIC event PFW industry
Slide 10: 24 Hour Experience With Three Events: Mytheresa x Courrèges Shanghai
Unique And High Impact 24 Hour Experience With Three Events To Celebrate Mytheresa x Courrèges at Shanghai Fashion Week High Visibility and Reach Created • 24 hour experience | 3 events: Courrèges and Mytheresa hosted an immersive exhibition, panel talk and intimate dinner as part of the official Sh
Slide 11: High-End Luxury Brand Collaborations in Q3 FY24
High-End Luxury Brand Collaborations in Q3 FY24 Underpinning Mytheresa’s Industry Leading Position BRUNELLO CUCINELLI LOEWE GIVENCHY SAINT LAURENT Exclusive pre-launch of the Brunello Exclusive launch of Loewe runway Exclusive pre-launch of the Givenchy Launch of the Saint Laurent Spring 24 Cucinell
Slide 12: Customer Cohorts Show Stable Repurchase Rates
Customer Cohorts Acquired in Q4 FY23 Show Stable Repurchase Rates in Q3 vs. Q4 FY22 Cohorts Percent of Customer Q4 FY22 Repurchasing in Q3 (Nine Months Later) Q4 FY23 New Customers Cohort Month January February March April Q4 May June 12
Slide 13: Excellent Growth Of Top Customers And Spend Per Customer
Excellent Growth Particularly Of Top Customers And Spend Per Customers Confirms Quality Of Customer Base Growth of Customers GMV1 per Customer Q3 FY24 vs. Q3 FY23 Q3 FY24 vs. Q3 FY23 All Customers 5.0% 11.5% Top Customers 17.0% 3.3% Notes: 1 “Gross Merchandise Value” (“GMV”) is an operative measure
Slide 14: Business Model Demonstrates Strong Consistent Performance in Q3 FY24
Mytheresa’s Business Model Demonstrates Strong Consistent Performance also in Q3 FY24 Despite Macro Headwinds Q3 FY23 Q3 FY24 Operational Indicators Financial Indicators1 AOV Womenswear Gross Profit -2.2 +12.0% Margin pp In € Return Rate Shipping & Womenswear +2.6 +1.0 Payment Cost pp pp In % Margin
Slide 15: Financial Highlights Q3 FY24
Financial Highlights Q3 FY24
Slide 16: Profitable Double-digit Topline Growth in Q3 FY24
Profitable Double-digit Topline Growth in Q3 FY24 Q3 FY241 YoY GROWTH FYTD 242 YoY GROWTH Gross Merchandise Value (GMV) (€MM) 252.2 14.7% 675.4 6.6% LTM Active Customers ('000) 862 2.8% 862 2.8% LTM Total Orders Shipped ('000) 2,065 4.8% 2,065 4.8% Net Sales (€MM) 233.9 17.6% 618.7 9.5% Gross Profit
Slide 17: Double-digit GMV And Net Sales Growth In A Consolidating Market
Double-digit GMV And Net Sales Growth In A Consolidating Market Environment Gross Merchandise Value (GMV) (€MM) 675.4 14.7% 252.2 633.6 6.6% Q3 FY24 FYTD 24 219.8 YoY YoY Growth Growth Q3 FY23 Q3 FY24 FYTD 23 FYTD 24 Q3 FY241 YoY GROWTH FYTD 242 YoY GROWTH GMV (€MM) 252.2 14.7% 675.4 6.6% LTM Active
Slide 18: Cost Efficiencies In Marketing And Adjusted SG&A
Cost Efficiencies In Marketing And Adjusted SG&A Gross Profit (€MM) 12.0% 282.7 (1.1%) 279.7 Q3 FY24 FYTD 24 YoY YoY Growth Growth 101.6 90.7 Q3 FY23 Q3 FY24 FYTD FY23 FYTD FY24 Q3 FY241 YoY GROWTH FYTD 242 YoY GROWTH Gross Profit (€MM) 101.6 12.0% 279.7 (1.1%) Gross Profit Margin3 43.4% (220 bps) 4
Slide 19: Significantly Improved Profitability Level in Q3 FY24
Significantly Improved Profitability Level in Q3 FY24 Adjusted EBITDA4 Adjusted Operating Income4 (€MM) (€MM) % Margin 1.6% 3.9% 6.0% 2.6% % Margin 0.1% 2.3% 4.5% 0.8% 33.7 25.2 16.3 9.2 3.2 5.3 5.2 0.1 Q3 FY23 Q3 FY24 FYTD 23 FYTD 24 Q3 FY23 Q3 FY24 FYTD 23 FYTD 24 Q3 FY241 YoY GROWTH FYTD 242 YoY
Slide 20: Confirmed Top- and Bottom-Line Guidance For Full FY24
Confirmed Top- and Bottom-Line Guidance For Full FY24 At The Lower End Of The Guided Ranges Assumptions for Full FY24 Top- and Bottomline Guidance for Full FY24 Lower end of GMV and Net Sales growth in 1 Continued above market growth in GMV and Net Sales capturing market share 1 the range of 8% to 1
Slide 21: 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) FY232 Actuals Medium-Term Targets1 GMV €856 % Growth 15% Low twenties with stable department AOVs and continued Active Customer Growth Net Sales €769 % Growth 11% Gross Profit Margin Incre
Slide 22: 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 23: Appendix
MY THERESA Appendix
Slide 24: Reconciliation to IFRS Metrics
Reconciliation to IFRS Metrics (€MM) FY23 Q3 FY23 Q3 FY24 FYTD 23 FYTD 24 Net Income to Adjusted EBITDA: Net Income (15.1) (5.1) (3.0) (9.4) (20.3) Finance Expenses, Net 2.5 0.7 1.3 1.5 3.5 Income Tax Expense 6.6 (2.0) (0.1) 4.1 (2.5) Depreciation & Amortization 11.7 3.1 3.9 8.5 11.1 EBITDA 5.6 (3.3
Slide 25: Reconciliation to IFRS Metrics
Reconciliation to IFRS Metrics (€MM) FY23 Q3 FY23 Q3 FY24 FYTD 23 FYTD 24 Net Income to Adjusted Operating Income: Net Income (15.1) (5.1) (3.0) (9.4) (20.3) Finance Expenses, Net 2.5 0.7 1.3 1.5 3.5 Income Tax Expense 6.6 (2.0) (0.1) 4.1 (2.5) Operating Income (6.1) (6.4) (1.8) (3.8) (19.3) Other t
Slide 26: Reconciliation to IFRS Metrics
Reconciliation to IFRS Metrics (€MM) FY23 Q3 FY23 Q3 FY24 FYTD 23 FYTD 24 Net Income to Adjusted Net Income: Net Income (15.1) (5.1) (3.0) (9.4) (20.3) Other transaction-related, certain 5.4 0.4 4.1 3.7 10.2 legal and other expenses Share-based Compensation1 30.0 6.1 3.0 25.3 14.3 Adjusted Net Incom