LuxExperience B.V. · NYSE:LUXE
LuxExperience B.V — Mytheresa — Q3 FY2021 Earnings Presentation
23 slides from LuxExperience B.V's earnings presentation, May 18, 2021
Slide 1: Investor Presentation May 2021
Investor Presentation May 2021
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 Costumers A Highly Loyal and Engaged A Unique Business Model Achieving L
Slide 5: Business Highlights Q3 FY21
MIY THERESA Business Highlights Q3 FY21
Slide 6: Our Business Highlights Q3 FY21
Our Business Highlights Q3 FY21 • Accelerating growth across all geographies with +47.5% vs. Q3 FY20 and +66.1% vs. Q3 FY19 Strong Global • Outstanding growth in the United States with +75,8% as consumer sentiment improved Expansion • Recent announcements of further investments in local presence in
Slide 7: Strong Top-Line Momentum Continuing and Acceleration Also Evident at 2 Year Comparison
Strong Top-Line Momentum Continuing in Q3 FY21 and Acceleration also Evident at 2 Year Comparison Net Sales growth (%) FY 21 vs. FY 20 FY 21 vs. FY 19 +66.1 +58.4 +60.4 +47.5 +32.9 +27.5 Q1 Q2 Q3 Q1 Q2 Q3 7
Slide 8: Strong Growth Momentum in the US Further Pushed by Recently Announced Investments
Strong Growth Momentum in the US Further Pushed by Recently Announced Investments into the Market Net Sales growth FY21 vs. FY20 (%) +75.8 +45.1 +41.4 Q1 Q2 Q3 New local leadership as of June 1st … … and more local brand awareness initiatives Heather Kaminetsky President North America • Sponsor of d
Slide 9: Continued Success with High-End Luxury Brand Collaborations
Continued Success with High-End Luxury Brand Collaborations in Q3 FY21 Underpinning Our Unique Value Proposition MARINE SERRE X BURBERRY BOTTEGA VENETA TOTÊME JIMMY CHOO DIGITAL DESIGNER EVENTS IN Q3 Outerwear archives capsule only Shoes & bags exclusive items Exclusive capsule with Marine Serre Exc
Slide 10: Strong Growth of Customer Numbers and Continued Quality Growth
Strong Growth of Customer Numbers in Q3 FY21 and at the Same Time Continued Quality Growth Growth of customers ∆ Net sales per customer % Q3 FY 21 vs. 20 % Q3 FY 21 vs. 20 First time +59.4% +6.1% Buyers Standard +45.3% +7.6% customers Top customers +28.3% +10.2% 10
Slide 11: Customer Cohorts Acquired in Q2 FY21 Show Very Strong Purchasing Behavior
Customer Cohorts Acquired in Q2 FY21 Show Very Strong Purchasing Behavior in Q3 FY21 Percent of Customer Q3, FY20 Repurchasing in Q3 months Q3, FY21 New customers cohort month January February March October Q2 November December 11
Slide 12: Mytheresa's Business Model Continues to Demonstrate Uniquely Consistent Performance
Mytheresa’s Business Model Continues to Demonstrate Uniquely Consistent Performance Q3, FY20 Q3, FY21 Operational Indicators Financial Indicators AOV Gross Profit -0.8 +1% Womenswear Margin pp Shipping & 0.0 Return Rate -3.8 Payment Cost Womenswear pp pp Margin Marketing -1.1 CAC -3% Cost Margin pp
Slide 13: Financial Highlights Q3 FY21
Financial Highlights Q3 FY21
Slide 14: Strong Performance Continuing
Strong Performance Continuing in Q3 FY21 Q3 FY21 (1) YoY GROWTH Q1-Q3 FY21 (2) YoY GROWTH LTM Active Customers ('000) 621 34.1% 621 34.1% LTM Total Orders Shipped ('000) 1,384 32.3% 1,384 32.3% Net Sales (€MM) 164.8 47.5% 449.7 36.2% Gross Profit Margin 43.9% (80 bps) 46.6% (20) bps Adjusted Operati
Slide 15: Strong Business Growth
Strong Business Growth in Q3 FY21 Net Sales (€MM) 449.7 47.5% 164.8 36.2% To-Date’21 Q3’21 330.2 YoY YoY 111.7 Growth Growth Q3-FY20 Q3-FY21 FNM-FY20 FNM-FY21 Q3 FY21 (1) YoY GROWTH Q1-Q3 FY21 (2) YoY GROWTH LTM Active Customers ('000) 621 34.1% 621 34.1% LTM Total Orders Shipped ('000) 1,384 32.3%
Slide 16: Continued Consistency in Financial Performance
Continued Consistency in Financial Performance in Q3 FY21 Consistent Gross Profit (€MM) 35.5% 209.6 72.4 44.9% To-Date’21 YoY Q3’21 154.7 Growth 49.9 YoY Growth Q3-FY20 Q3-FY21 FNM-FY20 FNM-FY21 (% of Net Sales) Q3 FY21 (1) YoY Change Q1-Q3 FY21 (2) YoY Change Gross Profit Margin 43.9% (80) bps 46.6
Slide 17: Strong Profitability Above Longer-Term Expectations
Strong Profitability in Q3 FY21 Above Longer-Term Expectations Adjusted EBITDA (2) Adjusted Operating Income (3) (€MM) (€MM) 10.3% 8.9% % Margin 2.8% 6.8% 6.2% 9.7% % Margin 1.1% 5.5% 4.4% 8.4% LTM Margin LTM Margin 43.7 37.6 257.1% 635.1% Q3’21 Q3’21 YoY Growth YoY Growth 20.3 14.6 11.1 114.9% 9.1
Slide 18: Outlook and Guidance
Outlook and Guidance Assumptions for Full Year Fiscal 2021 Guidance for Full Year Fiscal 2021 1 Positive underlying trends in new customer quality and customer cohort performance 1 Net sales in the range of 600€ million to 605€ million, representing 33% to 35% growth 2 Gross margin stability reflect
Slide 19: We Have Clearly Defined Our Long-Term Targets
We Have Clearly Defined Our Long-Term Targets (1) (€MM) FY2018 (2) FY2019 (2) FY2020 (2) Long-Term Target €304 €379 €449 Low-Mid Twenties with stable AOVs and Revenue % Growth 24% 25% 19% continued strong Active Customer Growth Gross Profit Margin 47.1% 46.9% 46.7% Stable Gross Margin Continuing pri
Slide 20: Mytheresa Offers a Unique Investment Opportunity
Mytheresa Offers a Unique Investment Opportunity The image part with relationship ID rId9 was not found in the file. The image part with relationship ID rId6 was not found in the file. Outstanding Market Fundamentals A Unique and Differentiated Value Given Resilience of Luxury and High Proposition R
Slide 21: Appendix
MIYTHERESA Appendix
Slide 22: Reconciliation to IFRS Metrics
Reconciliation to IFRS Metrics (€MM) 2018 2019 2020 Q3 2020 Q3 2021 Net Income to Adjusted EBITDA: Net Income 5.5 1.7 6.4 (6.7) (50.0) Finance Expenses, Net 4.8 14.0 11.1 5.5 (4.6) Income Tax Expense 3.5 3.4 3.4 (0.2) 3.8 Depreciation & Amortization (1) 6.8 7.7 7.9 1.9 2.0 EBITDA 20.6 26.8 28.8 0.5
Slide 23: Reconciliation to IFRS Metrics
Reconciliation to IFRS Metrics (€MM) 2018 2019 2020 Q3 2020 Q3 2021 Net Income to Adjusted Net Income: Net Income 5.5 1.7 6.4 (6.7) (50.0) United States Sales Tax -- 1.5 1.3 0.4 0.0 Strategic Investor Sale Preparation Costs -- 2.1 -- -- -- IPO Preparation and Transaction Costs -- -- 5.2 2.2 3.3 Shar