LuxExperience B.V. · NYSE:LUXE
LuxExperience B.V — Mytheresa — Q2 FY2024 Earnings Presentation
28 slides from LuxExperience B.V's earnings presentation, Feb 15, 2024
Slide 1: Investor Presentation February 2024
Investor Presentation February 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 Q2 FY24
MIYTHERESA Business Highlights Q2 FY24
Slide 6: Our Business Highlights Q2 FY24
Our Business Highlights Q2 FY24 • Solid GMV growth despite continuous macro headwinds with +1.5% in Q2 FY24 vs. Q2 FY23 and +2.3% in H1 FY24 vs. H1 FY23 Strong Global • GMV growth in the United States of +15.1% in Q2 FY24 vs. Q2 FY23 and total GMV share of the US expanding to 19.2% Expansion • High-
Slide 7: Solid GMV Growth in Q2 FY24 Despite Continuous Macro Headwinds
Solid GMV Growth in Q2 FY24 Despite an Environment of Continuous Macro Headwinds Gross Merchandise Value (GMV)1 YoY Growth Yo2Y Growth (in %) (in %) +16.2% +9.4% +2.3% +1.5% Q2 FY24 H1 FY24 Q2 FY24 H1 FY24 Notes: 1 “Gross Merchandise Value” (“GMV”) is an operative measure and means the total Euro va
Slide 8: Strong GMV Growth in the United States With Increasing Share of Global GMV
Strong GMV Growth in the United States With Increasing Share of Global GMV GMV1 Development United States YoY Growth US Share of GMV (in %) (in %) +19.6% 19.2% 18.9% +15.1% Q2 FY24 H1 FY24 Q2 FY24 H1 FY24 Notes: 1 “Gross Merchandise Value” (“GMV”) is an operative measure and means the total Euro val
Slide 9: Unique Events & Experiences for Top Customers Across the World
Unique Events & Experiences for Top Customers of Mytheresa Across the World In Q1 and Q2 FY24 Berlin (10/11-12) Warsaw (10/26-27) Money can‘t buy experiences Chicago (10/17) Hamptons (07/13) Geneva (10/5-7) Magda Butrym x Mytheresa Style Suites: shopping events Erdem Toteme x Mytheresa Warsaw (10/20
Slide 10: Immersive Luxury Customer Experience with The Holiday House Pop Up
Highly Successful Immersive Luxury Customer Experience with The Holiday House Pop Up in Los Angeles Destination pop up in Los Angeles • Unique Immersive experience: Partnered with Flamingo Estate on the second experience pop up experience for 4 weeks during the Holiday Season “The Holiday House”. Th
Slide 11: Immersive Shopping Experience for Apple Vision Pro
Mytheresa Launching an Immersive Shopping Experience for Apple Vision Pro As One of the First Luxury Platforms Apple Vision Pro shopping experience • THE INNOVATION: Mytheresa leads the way in leveraging advanced technology and is amongst the first luxury platforms to design a shopping app for Apple
Slide 12: High-End Luxury Brand Collaborations in Q2 FY24
High-End Luxury Brand Collaborations in Q2 FY24 Underpinning Mytheresa’s Industry Leading Position ALEXANDER ALAÏA GIVENCHY MCQUEEN VICTORIA BECKHAM Exclusive pre-launch of the Alaia Exclusive capsule collection only Exclusive pre-launch of the Alexander Exclusive capsule collection only archive sty
Slide 13: Customer Cohorts Show Stable Repurchase Rates
Customer Cohorts Acquired in Q1 FY23 Show Stable Repurchase Rates Up To December Vs. Q1 FY22 Cohorts Percent of Customer Q1 FY22 Repurchasing in Q2 (after 15 months) Q1 FY23 New CuRstomers Cohort Month October November December July Q1 August September 13
Slide 14: Strong Top Customer Growth and Record AOVs
Strong Top Customer Growth As Well As Record AOVs Particularly for Top Customers Growth of Customers Average Order Value Q2 FY24 vs. Q2 FY23 Q2 FY24 All Customers -4.3% 715 € Top Customers 15.6% 1,100 € 14
Slide 15: Business Model With Consistent Performance Despite Challenging Macro-Environment
Mytheresa’s Business Model With Consistent Performance Despite Challenging Macro-Environment Q2 FY23 Q2 FY24 Operational Indicators Financial Indicators1 AOV Womenswear Gross Profit -4.9 +6.0% Margin pp In € Return Rate Shipping & Womenswear +3.7 +1.7 Payment Cost pp pp In % Margin2 CAC Marketing -2
Slide 16: Five-Year Strategic Partnership with DHL Express for SAF Service
Five-Year Strategic Partnership with DHL Express for Sustainable Aviation Fuel (SAF) Service Reducing CO₂ Partnership between Mytheresa & DHL Express • In November 2023, a five-year strategic partnership was signed between Mytheresa and DHL Express for the use of DHL‘s GoGreen Plus service. • GoGree
Slide 17: Financial Highlights Q2 FY24
Financial Highlights Q2 FY24
Slide 18: Profitable Growth in Q2 FY24
Profitable Growth in Q2 FY24 Q2 FY241 YoY GROWTH H1 FY242 YoY GROWTH Gross Merchandise Value (GMV) (€MM) 219.1 1.5% 423.2 2.3% LTM Active Customers ('000) 856 5.1% 856 5.1% LTM Total Orders Shipped ('000) 2,037 8.6% 2,037 8.6% Net Sales (€MM) 197.0 3.6% 384.8 5.1% Gross Profit Margin3 49.9% (490 bps
Slide 19: GMV And Net Sales Growth Despite Macro-Challenges
GMV And Net Sales Growth Despite Macro-Challenges Gross Merchandise Value (GMV) (€MM) 215.9 1.5% 219.1 2.3% 423.2 413.7 Q2 FY24 H1 FY24 YoY YoY Growth Growth Q2 FY23 Q2 FY24 H1 FY23 H1 FY24 Q2 FY241 YoY GROWTH H1 FY242 YoY GROWTH GMV (€MM) 219.1 1.5% 423.2 2.3% LTM Active Customers ('000) 856 5.1% 8
Slide 20: Promotional Intensity Reflected in Lower Gross Profit Margin
Promotional Intensity Reflected in Lower Gross Profit Margin Gross Profit (€MM) (5.6%) 192.0 (7.2%) Q2 FY24 H1 FY24 YoY YoY 178.1 104.2 Growth Growth 98.3 Q2 FY23 Q2 FY234 H1 FY23 H1 FY24 Q2 FY241 YoY GROWTH H1 FY242 YoY GROWTH Gross Profit (€MM) 98.3 (5.6%) 178.1 (7.2%) Gross Profit Margin3 49.9% (
Slide 21: Solid Profitability Level Despite Macro-Challenges
Solid Profitability Level in Q2 FY23 Despite Macro-Challenges Adjusted EBITDA4 Adjusted Operating Income4 (€MM) (€MM) % Margin 9.3% 4.0% 8.3% 1.8% % Margin 7.9% 2.1% 6.9% (0.0%) 30.4 25.1 17.7 14.9 7.9 7.1 4.1 -0.2 Q2 FY23 Q2 FY24 H1 FY23 H1 FY234 Q2 FY23 Q2 FY24 H1 FY23 H1 FY24 Q2 FY241 YoY GROWTH
Slide 22: Confirmed Guidance At The Lower End Of The Guided Ranges
Confirmed Guidance At The Lower End Of The Guided Ranges Assumptions for Full FY24 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 13% 2 Continued excellent Top Customer growth with incre
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) 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 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) FY23 Q2 FY23 Q2 FY24 Net Income to Adjusted EBITDA: Net Income (15.1) (0.5) (5.4) Finance Expenses, Net 2.5 0.4 1.2 Income Tax Expense 6.6 3.5 (0.2) Depreciation & Amortization 11.7 2.8 3.8 EBITDA 5.6 6.3 (0.5) Other transaction-related, certain legal 5.4 1.8 3.6
Slide 27: Reconciliation to IFRS Metrics
Reconciliation to IFRS Metrics (€MM) FY23 Q2 FY23 Q2 FY24 Net Income to Adjusted Operating Income: Net Income (15.1) (0.5) (5.4) Finance Expenses, Net 2.5 0.4 1.2 Income Tax Expense 6.6 3.5 (0.2) Operating Income (6.1) 3.5 (4.4) Other transaction-related, certain legal 5.4 1.8 3.6 and other expenses
Slide 28: Reconciliation to IFRS Metrics
Reconciliation to IFRS Metrics (€MM) FY23 Q2 FY23 Q2 FY24 Net Income to Adjusted Net Income: Net Income (15.1) (0.5) (5.4) Other transaction-related, certain legal 5.4 1.8 3.6 and other expenses Share-based Compensation1 30.0 9.7 4.9 Adjusted Net Income 20.3 11.0 3.1 Adjusted Net Income Margin Recon