LuxExperience B.V. · NYSE:LUXE
LuxExperience B.V — Mytheresa — FY2023 Earnings Presentation
28 slides from LuxExperience B.V's earnings presentation, Sep 14, 2023
Slide 1: Investor Presentation September 2023
Investor Presentation September 2023
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 GMV multi-year differentiated in terms of assortment and customer focus growth outpacing overall online luxury fashion marke
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 FY23 & Full FY23
Business Highlights Q4 FY23 & Full FY23
Slide 6: Our Business Highlights Q4 FY23 & Full FY23
Our Business Highlights Q4 FY23 & Full FY23 • Strong global GMV growth with +13.0% vs. Q4 FY22 and strong full FY23 growth with +14.5% vs. FY22 as well as +38.9% vs FY21 in a very difficult market environment Strong • Strongest regional GMV growth again in the United States with +40.8% vs. Q4 FY22 a
Slide 7: Strong Growth Momentum in Q4 FY23 and Full FY23
Strong Growth Momentum in Q4 FY23 and Full FY23 in a Very Difficult Market Environment Gross Merchandise Value (GMV)1 YoY Growth Yo2Y Growth +56.6% +20.8% +38.9% +36.1% +17.8% +33.4% +33.6% +14.5 +13.0% +7.8% Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Full FY23 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Full FY23 Notes:
Slide 8: United States Growth in Q4 FY23 Far Above Market Trend
United States Growth in Q4 FY23 Far Above Market Trend and Increasing Importance of Region for Mytheresa GMV1 Development United States YoY Growth US Share of GMV +40.8% 19.1% +28.5% +27.4% +27.0% 17.7% 16.9% 17.3% 15.4% +12.7% Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Full FY23 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY2
Slide 9: Unique Events & Experiences for Top Customers Across the World
Unique Events & Experiences for Top Customers of Mytheresa Across the World In Q4 FY23 Money can‘t buy experiences Hamptons (06/29-30) Stockholm (06/10-11) Style Suites: shopping events Summer Body Shop Experience VIC Experience with personal shopping (Pop-Up) Hamptons (07/13) Intimate Dinner St. Tr
Slide 10: Mytheresa x Flamingo Estate Pop Up in East Hampton
Unique Customer Engagement through Mytheresa x Flamingo Estate Pop Up in East Hampton Creating a true destination in East Hampton • Unique Immersive experience: Reimagined a former auto body shop and turned it into the most luxurious, interactive pop up store for 5 weeks allowing us to engage with a
Slide 11: High-End Luxury Brand Collaborations in Q4 FY23
High-End Luxury Brand Collaborations in Q4 FY23 Underpinning Mytheresa’s Industry Leading Position VALENTINO GIVENCHY DOLCE&GABBANA BOTTEGA VENETA Exclusive launch of exclusive Launch of the Givenchy Shark Lock Exclusive capsule collection only Launch of Bottega Veneta Valentino PPP FW’23 styles onl
Slide 12: Largest Branding Event Ever with Dolce&Gabbana in Portofino
Largest Branding Event Ever with Dolce&Gabanna 3-Day Experience in Portofino Increase in Brand Awareness • Unique collection: Launched an 84 piece exclusive capsule collection in partnership with Dolce&Gabbana featuring the famous “Piazzetta” of Portofino • High impact campaign resulting in extraord
Slide 13: Customer Cohorts Acquired in Q1 FY23 Show Stable Purchasing Behavior
Customer Cohorts Acquired in Q1 FY23 Show Stable Purchasing Behavior in Q4 FY23 Compared to Q1 FY22 Cohort Percent of Customer Q1 FY22 Repurchasing in Q4 Q1 FY23 New Customers Cohort Month April May June July Q1 August September 13
Slide 14: Continued Strong Growth of Top Customers and Spend per Customer
Continued Strong Growth Particularly of Top Customers and Spend per Customer in a Very Difficult Market Environment Growth of Customers GMV1 per Customer Full FY23 vs. Full FY22 Full FY23 vs. Full FY22 All Customers +9.5% +4.7% Top Customers +24.8% +4.3% Notes: 1 “Gross Merchandise Value” (“GMV”) is
Slide 15: Strong Expansion of Top Customer GMV
Strong Expansion of Top Customer GMV Demonstrates Unique Positioning and Strength of Mytheresa Business GMV1 Development Top Customers YoY Growth Share of GMV +58.3% 38.5% 32.6% 34.0% +30.1% +26.8% Full FY21 Full FY22 Full FY23 Full FY21 Full FY22 Full FY23 Notes: 1 “Gross Merchandise Value” (“GMV”)
Slide 16: Business Model Continues to Demonstrate Solid Consistent Performance
Mytheresa’s Business Model Continues to Demonstrate Solid Consistent Performance also in Q4 FY23 Q4 FY22 Q4 FY23 Operational Indicators Financial Indicators1 AOV Womenswear Gross Profit -5.2 +8.0% Margin pp In € Return Rate Shipping & Womenswear +3.5 -0.1 Payment Cost pp pp In % Margin CAC Marketing
Slide 17: Financial Highlights Q4 FY23 & Full FY23
Financial Highlights Q4 FY23 & Full FY23
Slide 18: Strong Performance in Q4 FY23 With Continued Profitability
Strong Performance in Q4 FY23 With Continued Profitability Q4 FY231 YoY GROWTH Full FY232 YoY GROWTH Gross Merchandise Value (GMV) (€MM) 222.2 13.0% 855.8 14.5% LTM Active Customers ('000) 856 9.6% 856 9.6% LTM Total Orders Shipped ('000) 2,012 14.0% 2,012 14.0% Net Sales (€MM) 203.8 16.5% 768.6 11.
Slide 19: Continued Double Digit Topline Growth in Q4 and Full FY23
Continued Double Digit Topline Growth in Q4 and Full FY23 Gross Merchandise Value (GMV) (€MM) 222.2 14.5% 855.8 13.0% Full FY23 Q4 FY23 747.3 YoY 196.7 YoY Growth Growth Q4 FY22 Q4 FY23 Full FY22 Full FY23 Q3 FY231 YoY GROWTH Full FY232 YoY GROWTH GMV (€MM) 222.2 13.0% 855.8 14.5% LTM Active Custome
Slide 20: Solid Gross Profit Increase
Solid Gross Profit Increase Gross Profit (€MM) 99.9 382.6 94.8 5.4% 7.8% Q4 FY23 355.0 Full FY23 YoY YoY Growth Growth Q4 FY22 Q4 FY23 Full FY22 Full FY23 Q4 FY231 YoY GROWTH Full FY232 YoY GROWTH Gross Profit (€MM) 99.9 5.4% 382.6 7.8% Gross Profit Margin3 49.0% (520 bps) 49.8% (170 bps) Shipping &
Slide 21: Continued Solid Profitability in Q4 FY23
Continued Solid Profitability in Q4 FY23 Adjusted EBITDA4 Adjusted Operating Income4 (€MM) (€MM) 8.2% 3.6% 10.0% 5.3% 6.9% 2.1% 8.6% 3.8% % Margin3 % Margin3 68.7 59.6 (48.7%) (65.0%) 41.1 Q4 FY23 Q4 FY23 YoY Growth 29.4 YoY Growth 14.4 (40.3%) 12.0 (50.7%) 7.4 Full FY23 4.2 Full FY23 YoY Growth YoY
Slide 22: Guidance For Full FY24 with H2 Much Stronger Than H1
Guidance For Full FY24 with H2 Much Stronger Than H1 Driven by Market and Full Leverage of New Infrastructure Assumptions for Full FY24 Guidance for Full FY24 GMV and Net Sales growth in the 1 Continued double digit and above market growth in GMV and Net Sales capturing 1 range of 8% to 13% market s
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 NEW 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 Achievi
Slide 25: Appendix
MIY THERESA Appendix
Slide 26: Reconciliation to IFRS Metrics
Reconciliation to IFRS Metrics (€MM) FY21 Q4 FY22 Q4 FY23 FY22 FY23 Net Income to Adjusted EBITDA: Net Income (loss) (32.6) 1.6 (5.7) (7.9) (15.1) Finance Expenses, Net (15.1) 0.3 1.0 1.0 2.5 Income Tax Expense (benefit) 15.5 (0.7) 2.5 11.7 6.6 Depreciation & Amortization 8.2 2.4 3.2 9.1 11.7 EBITDA
Slide 27: Reconciliation to IFRS Metrics
Reconciliation to IFRS Metrics (€MM) FY21 Q4 FY22 Q4 FY23 FY22 FY23 Net Income to Adjusted Operating Income: Net Income (loss) (32.6) 1.6 (5.7) (7.9) (15.1) Finance Expenses, Net (15.1) 0.3 1.0 1.0 2.5 Income Tax Expense (benefit) 15.5 (0.7) 2.5 11.7 6.6 Operating Income (32.2) 1.2 (2.3) 4.8 (6.1) I
Slide 28: Reconciliation to IFRS Metrics
Reconciliation to IFRS Metrics (€MM) FY21 Q4 FY22 Q4 FY23 FY22 FY23 Net Income to Adjusted Net Income: Net Income (loss) (32.6) 1.6 (5.7) (7.9) (15.1) IPO Preparation and Transaction 7.0 -- -- -- -- Costs Other transaction-related, certain -- 1.2 1.8 2.5 5.4 legal and other expenses Share-based Comp