LuxExperience B.V. · NYSE:LUXE
LuxExperience B.V — Mytheresa — Q1 2022 Earnings Presentation
25 slides from LuxExperience B.V's earnings presentation, Nov 11, 2021
Slide 1: Investor Presentation
New Picture Investor Presentation November 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
New Picture 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
Slide 5: Business Highlights Q1 FY22
Highlights YTHERESA Business Q1 FY22 =
Slide 6: Our Business Highlights Q1 FY22
Our Business Highlights Q1 FY22 • Strong GMV growth across all geographies with +29.7% vs. Q1 FY21 and +65.3% vs. Q1 FY20 Strong Global • Strongest net sales growth in the US with +48.7% vs. Q1 FY21 as market presence continues to grow Expansion • High-impact top customer events in Europe, China and
Slide 7: Strong GMV Momentum Continuing in Q1 FY22 Evidenced by Strong Two-Year Growth Rates
Strong GMV Momentum Continuing in Q1 FY22 Evidenced by Strong Two-Year Growth Rates Gross Merchandise Value (GMV) (%) YoY Growth Yo2Y Growth +65.3 +61.5 +36.2 +29.7 Full FY21 Q1 FY22 Full FY21 Q1 FY22 7
Slide 8: Continued Success with High-End Luxury Brand Collaborations in Q1 FY22
Continued Success with High-End Luxury Brand Collaborations in Q1 FY22 Underpinning Our Unique Value Proposition VALENTINO GUCCI SAINT LAURENT TOM FORD „MONEY CAN‘T BUY“ EXPERIENCES Guerilla activation in Puglia, Capri Exclusive bag launch only available Exclusive capsule collection only Exclusive c
Slide 9: High Impact, Exclusive Events for Mytheresa Top Customers
High Impact, Exclusive Events for Mytheresa Top Customers Deepening Client Relationships all over the World Money can‘t buy experiences Style Suites: shopping events with personal shopping Hamburg (9/7) London (9/7) Cologne (10/4) Manchester (10/5) Frankfurt (9/20) Dublin (9/22) Munich 9/28: Pre-ope
Slide 10: Successful Start of Curated Platform Model (CPM) with First Major Brand Partner
Successful Start of Curated Platform Model (CPM) with First Major Brand Partner KEY CHARACTERISTICS KEY BENEFIT Product Curation by Product selection done by Mytheresa from Superior edit as key value proposition for the Mytheresa wider retail assortment of brand wardrobe-building multi-brand custome
Slide 11: Strong Interest for New Resale Service and Measurable Increase in Customer Spend
Strong Interest for New Resale Service and Measurable Increase in Customer Spend Performance KPI’s for Resale Service (June 7th to September 30th) TARGETED ACTUAL TRANSACTIONS AOV OF CUSTOMERS MYTE CUSTOMERS RESELLERS RESELLERS ON MYTHERESA 1.6 60% 60% Resale items per customer +700 40% 26% Avg. EUR
Slide 12: Continued Strong Repurchase Behavior by New Customer Cohorts Acquired in FY21 vs. FY20
Continued Strong Repurchase Behavior by New Customer Cohorts Acquired in FY21 vs. FY20 FY20 Percent of Customer FY21 Repurchasing 3 Months after Acquisition April May June January1 February1 March1 Percent of Customer Repurchasing 3 Months after Acquisition July August September April1 May1 June1 12
Slide 13: Strong Growth of Top Customer Numbers in Q1 FY22
Strong Growth of Top Customer Numbers in Q1 FY22 and Still Stable Average Order Value per Customer Growth of customers Average Order Value % Q1 FY22 vs. Q1 FY21 % Q1 FY22 vs. Q1 FY21 All Customers +26.4% +2.3% Top Customers +41.0% 0.0% 13
Slide 14: Mytheresa's Business Model Continues to Demonstrate Uniquely Consistent Performance in Q1 FY22
Mytheresa’s Business Model Continues to Demonstrate Uniquely Consistent Performance in Q1 FY22 1Q FY21 1Q FY22 Operational Indicators Financial Indicators AOV Womenswear Gross Profit +2.6 +4% Margin pp In EUR Return Rate Shipping & Womenswear +0.5 +0.5 Payment Cost pp pp In % Margin CAC Marketing -0
Slide 15: Financial Highlights Q1 FY22
Financial Highlights Q1 FY22
Slide 16: Strong Performance in Q1 FY22
Strong Performance in Q1 FY22 Q1 FY22 (1) YoY Change Gross Merchandise Value (GMV) (€MM) 163.9 29.7% LTM Active Customers ('000) 705 35.2% LTM Total Orders Shipped ('000) 1,580 35.3% Net Sales (€MM) 157.8 24.9% Gross Profit Margin 49.0% 260 bps Adjusted Operating Income (€MM) 11.8 40.7% Adjusted Ope
Slide 17: Strong GMV Growth in Q1 FY22
Strong GMV Growth in Q1 FY22 Gross Merchandise Value (GMV) (€MM) 29.7% 163.9 Q1 FY22 126.4 YoY Growth Q1 - FY21 Q1 - FY22 Q1 FY22 (1) YoY Change Gross Merchandise Value (GMV) (€MM) 163.9 29.7% LTM Active Customers ('000) 705 35.2% LTM Total Orders Shipped ('000) 1,580 35.3% Net Sales (€MM) 157.8 24.
Slide 18: Consistent Strong Gross Profit Growth and Margin Expansion in Q1 FY22
Consistent Strong Gross Profit Growth and Margin Expansion in Q1 FY22 Gross Profit (€MM) 31.8% 77.3 Q1 FY22 58.7 YoY Growth Q1 - FY21 Q1 - FY22 (% of Net Sales) Q1 FY22 (1) YoY Change Gross Profit Margin 49.0% 260 bps Shipping & Payment 12.2% 50 bps Marketing 13.7% (10) bps SG&A (Adjusted)(3) 12.6%
Slide 19: Strong Profitability Growth Achieved for Q1 FY22
Strong Profitability Growth Achieved for Q1 FY22 Adjusted EBITDA Adjusted Operating Income (€MM) (€MM) % Margin 8.3% 8.9% % Margin 6.7% 7.5% 34.4% 40.7% Q1 FY22 Q1 FY22 14.0 YoY Growth YoY Growth 10.4 11.8 8.4 Q1-FY21 Q1-FY22 Q1-FY21 Q1-FY22 Q1 FY22 (1) YoY Change Adjusted Operating Income (€MM) 11.
Slide 20: Confirmed Guidance for Full FY22
Confirmed Guidance for Full FY22 Assumptions for Full Fiscal 2022 Guidance for Full Fiscal 2022 1 Sustained strong new customer quality and existing customer cohort performance 1 GMV in the range of 750€ million to 770€ million, representing 22% to 25% growth 2 Gross margin stability reflecting our
Slide 21: Confirmed guidance for FY22 and medium-term targets
Confirmed guidance for FY 22 and medium-term targets (€MM) Guidance FY22 Medium-Term Targets FY24+ CPM Share < 20% < 35% 750-770 GMV +22-25% +22-25% 820K-845K Active Customers +22-25% +22-25% 700-720 Net Sales +22-25% +14-18% 345-355 Gross Profit +22-25% +21-24% Adj. EBITDA Margin* 8.0-9.0% 7-9% Not
Slide 22: Mytheresa Offers a Unique Investment Opportunity
New Picture 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
Slide 23: Appendix
MY THERESA Appendix
Slide 24: Reconciliation to IFRS Metrics
Reconciliation to IFRS Metrics (€MM) 2018 2019 2020 2021 Q1 2021 Q1 2022 Net Income to Adjusted EBITDA: Net Income 5.5 1.7 6.4 (32.6) 9.6 (7.3) Finance Expenses, Net 4.8 14.0 11.1 (15.1) (5.2) 0.2 Income Tax Expense 3.5 3.4 3.4 15.5 3.8 3.4 Depreciation & Amortization 6.8 7.7 7.9 8.2 2.0 2.2 EBITDA
Slide 25: Reconciliation to IFRS Metrics
Reconciliation to IFRS Metrics (€MM) 2018 2019 2020 2021 Q1 2021 Q1 2022 Net Income to Adjusted Net Income: Net Income 5.5 1.7 6.4 (32.6) 9.6 (7.3) United States Sales Tax -- 1.5 1.3 -- -- -- Strategic Investor Sale Preparation Costs -- 2.1 -- -- -- -- IPO Preparation and Transaction Costs -- -- 5.2