MYT Netherlands Parent B.V. (NYSE: MYTE) ("Mytheresa" oder das "Unternehmen"), die Muttergesellschaft der Mytheresa Group GmbH, gab heute die Finanzergebnisse für das dritte Quartal des Geschäftsjahres 2021 (1. Januar - 31. März 2021) bekannt. Die starken Ergebnisse des dritten Quartals waren weiterhin positiv geprägt von der Veränderung des Kaufverhaltens hin zu digitalen Angeboten. Selbst bei Berücksichtigung der niedrigeren Vergleichswerte des dritten Quartals 2020 zeigt sich das beschleunigte Wachstum: Im Vergleich der Zwei-Jahres-Wachstumsraten ergibt sich ein Zuwachs von 66% für das 3. Quartal und von 60% für das zweite Quartal 2021.
Michael Kliger, Chief Executive Officer von Mytheresa, sagt: “Im dritten Quartal konnte unser Unternehmen sein Wachstum sogar noch beschleunigen. Dies wurde vor allem durch die kontinuierliche Verschiebung des Verbraucherverhaltens hin zu digitalen und Multibrand-Angeboten getrieben. Wir verzeichnen im vergangenen Quartal einen neuen Rekord an Erstkäufern und unsere neu gewonnenen Kundenkohorten zeigen höhere Wiederkaufsraten als zuvor. Darüber hinaus sehen wir einen starken Anstieg der Ausgaben unserer Top-Kundinnen und -Kunden, die ihre prä-Pandemie Aktivitäten wieder aufnehmen, wie z. B. gesellschaftliche Ereignisse und Urlaub. Wir sind in fast allen Regionen stark gewachsen, insbesondere jedoch in den USA, wo wir ein Umsatzwachstum von über 76% verzeichnen konnten.”
Kliger ergänzt, “Selbst wenn wir die relativ niedrigen Vergleichswerte des dritten Quartals 2020 bereinigen, ist klar, dass unsere Positionierung als kuratierte Multibrand-Luxusplattform uns sowohl strategisch als auch finanziell in eine fantastische Position bringt, um ebenso die kurzfristigen als auch die langfristigen Wachstumschancen im Markt zu nutzen. Unser Erfolg basiert weiterhin auf einem klaren Fokus auf Luxuskunden, starken Markenpartnerschaften und einem umsetzungsorientierten und gewinnbringenden Geschäftsmodell. Die außergewöhnlichen Ergebnisse des dritten Quartals zeigen unsere starke Position als führende kuratierte Plattform für Luxusmode. Dementsprechend haben wir unsere Prognose für das gesamte Geschäftsjahr 2021 angehoben.”
HERAUSRAGENDE ERGEBNISSE IM DRITTEN QUARTAL (BIS 31. MÄRZ 2021)
- Umsatzsteigerung von 47,5% im Vergleich zum Vorjahr auf 164,8 Mio. Euro
- Stabile Bruttomarge von 43,9%
- Bereinigtes EBITDA von 11,1 Mio. €, verglichen mit 3,1 Mio. € im Vorjahreszeitraum
- Bereinigte EBITDA-Marge von 6,8%, im Vergleich zu 2,8% im Vorjahreszeitraum
- Bereinigtes operatives Ergebnis von 9,1 Mio. €, verglichen mit 1,2 Mio. € im Vorjahreszeitraum
- Bereinigter Jahresüberschuss von 4,5 Mio. €, verglichen mit einem bereinigten Jahresfehlbetrag von 0,1 Mio. € im Vorjahreszeitraum
HERAUSRAGENDE ERGEBNISSE FÜR DIE NEUN MONATE BIS ZUM 31. MÄRZ 2021
- Umsatzsteigerung von 36,2% gegenüber dem Vorjahr auf 449,7 Mio. Euro
- LTM Aktives Kundenwachstum bei 34,1% mit 621.000 aktiven Kunden
- Stabile Bruttomarge von 46,6%
- Bereinigtes EBITDA von 43,7 Mio. €, verglichen mit 20,3 Mio. € im Vorjahreszeitraum
- Bereinigte EBITDA-Marge von 9,7%, im Vergleich zu 6,2% im Vorjahreszeitraum
- Bereinigtes Betriebsergebnis in Höhe von 37,6 Mio. €, verglichen mit 14,6 Mio. € im Vorjahreszeitraum
- Bereinigter Jahresüberschuss von 24,5 Mio. €, verglichen mit 9,9 Mio. € im Vorjahreszeitraum
AKTUELLE GESCHÄFTSERFOLGE
Globale Expansion:
- Beschleunigtes Wachstum in allen Regionen mit einem Umsatzanstieg von 47,5% im Vergleich zu Q3, GJ 2020
- Herausragendes Wachstum in den USA mit 75,8% Umsatzsteigerung
- Weitere Investitionen in die Präsenz von Mytheresa in den USA inklusive der Ernennung einer President North America mit Wirkung zum 1. Juni 2021
Starke Markenpartnerschaften:
- Starke, fortlaufende Unterstützung von Markenpartnern mit der Einführung von exklusiven Kollektionen und Pre-Launches in Zusammenarbeit mit Burberry, Bottega Veneta, Marine Serre x Jimmy Choo, The Attico, Totême, Simone Rocha und Loewe sowie der Einführung von Dior Eyewear
- Digitale Events zur Ansprache von Top-Kundinnen und -kunden in Zusammenarbeit mit Roger Vivier, Johanna Ortiz, Simone Rocha und Repossi
Hochwertiges Kundenwachstum:
- Wachstum des aktiven Kundenstamms um 34% im Jahresvergleich auf 621.000 (LTM)
- Rekordzuwachs an Erstkäuferinnen und -käufern in Q3, GJ 2021, übertrifft den Rekord von Q2 von über 100.000
- Wachstum des durchschnittlichen Nettoumsatzes pro Kunde über alle Kundengruppen; insbesondere bei Top-Kunden im 3. Quartal des GJ 2021 (+10% YoY)
- Bessere Wiederkaufraten innerhalb der neu gewonnene Kundenkohorten im Vergleich zu den Vorjahreskohorten
Konstant starke Performance:
- Aufrechterhaltung der Geschäftskontinuität in allen Geschäftsbereichen bei gleichzeitigem Fokus auf die Gesundheit und dem Wohlbefinden aller Mytheresa-Mitarbeiter als oberste Priorität während der dritten Welle der Pandemie
- Weiter gesunkene Kundenakquisitionskosten, stabiler durchschnittlicher Bestellwert (AOV) und sinkende Retourenquoten bei Damenbekleidung
- Deutliche Steigerung der Kundenzufriedenheit mit einem Net Promoter Score von 86% im 3. Quartal des GJ 2021
GESCHÄFTSAUSBLICK
Die Auswirkungen der Covid-19-Epidemie sind schwer abzuschätzen, da sich das Ausmaß, die Dauer und die geografische Ausdehnung der Krise jeden Tag weiterentwickeln. Für das gesamte Geschäftsjahr, das am 30. Juni 2021 endet, hat Mytheresa seine Prognose als Ergebnis der starken Q3-Ergebnisse angehoben und erwartet nun:
-
Umsatzerlöse im Bereich von 600 Mio. € bis 605 Mio. €, was einem Wachstum von 33% bis
35% entspricht - Bereinigtes EBITDA im Bereich von 55 Mio. € bis 59 Mio. €
- Bereinigte EBITDA-Marge von 9,1% bis 9,8%
Die obigen zukunftsgerichteten Aussagen spiegeln die Erwartungen von Mytheresa zum heutigen Zeitpunkt wider. Angesichts einer Reihe von Risikofaktoren, Ungewissheiten und Annahmen, die im Folgenden erläutert werden, können die tatsächlichen Ergebnisse erheblich abweichen. Mytheresa beabsichtigt nicht, seine zukunftsgerichteten Aussagen bis zur nächsten Bekanntgabe der Quartalsergebnisse zu aktualisieren, es sei denn, es handelt sich um öffentlich zugängliche Aussagen.
INFORMATIONEN ZUR TELEFONKONFERENZ UND ZUM WEBCAST
Mytheresa wird am 18. Mai 2021 um 8:00 Uhr Eastern Time (14 Uhr CET) eine Telefonkonferenz zur Erläuterung der Finanzergebnisse des dritten Quartals des Geschäftsjahres 2021 abhalten. Diejenigen, die per Webcast teilnehmen möchten, sollten über die Investor Relations-Website von Mytheresa auf die Telefonkonferenz zugreifen. Hier abrufbar: https://investors.mytheresa.com. Diejenigen, die per Telefon teilnehmen möchten, können sich unter +1 (833) 979-2860 (USA) oder +1 (236) 714-2917 (International) einwählen. Eine Aufzeichnung wird per Webcast über die Investor Relations Website von Mytheresa verfügbar sein. Die telefonische Aufzeichnung wird ab 11:00 Uhr Eastern Time am 18. Mai 2021 bis zum 25. Mai 2021 unter der Nummer +1 (800) 585-8367 (USA) oder +1 (416) 621-4642 (International) verfügbar sein. Der Zugangscode für die Aufzeichnung lautet 5887405.
FORWARD LOOKING STATEMENTS
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to the impact of the COVID-19 global pandemic; future sales, expenses, and profitability; future development and expected growth of our business and industry; our ability to execute our business model and our business strategy; having available sufficient cash and borrowing capacity to meet working capital, debt service and capital expenditure requirements for the next twelve months; and projected capital spending. In some cases, you can identify forward-looking statements by the following words: “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would” or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. These statements are only predictions Actual events or results may differ materially from those stated or implied by these forward-looking statements. In evaluating these statements and our prospects, you should carefully consider the factors set forth below.
We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law.
The achievement or success of the matters covered by such forward-looking statements involves known and unknown risks, uncertainties and assumptions. If any such risks or uncertainties materialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied by the forward-looking statements we make.
You should not rely upon forward-looking statements as predictions of future events. Forward-looking statements represent our management’s beliefs and assumptions only as of the date such statements are made.
Further information on these and other factors that could affect our financial results is included in filings we make with the U.S. Securities and Exchange Commission (“SEC”) from time to time, including the section titled “Risk Factors” in our final prospectus under Rule 424(b) filed with the SEC on January 22, 2021 in connection with our IPO and 6-K (reporting our quarterly results). These documents are available on the SEC’s website at www.sec.gov and on the SEC Filings section of the Investor Relations section of our website at: https://investors.mytheresa.com.
ABOUT NON-IFRS FINANCIAL MEASURES
We review a number of operating and financial metrics, including the following business and non-IFRS metrics, to evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions. We present Adjusted EBITDA, Adjusted Operating Income, and Adjusted Net Income because they are frequently used by analysts, investors and other interested parties to evaluate companies in our industry. Further, we believe these measures are helpful in highlighting trends in our operating results, because they exclude the impact of items that are outside the control of management or not reflective of our ongoing operations and performance. Adjusted EBITDA, Adjusted Operating Income, and Adjusted Net Income have limitations, because they exclude certain types of expenses. Furthermore, other companies in our industry may calculate similarly titled measures differently than we do, limiting their usefulness as comparative measures. We use Adjusted EBITDA, Adjusted Operating Income, and Adjusted Net Income as supplemental information only. You are encouraged to evaluate each adjustment and the reasons we consider it appropriate for supplemental analysis.
Our non-IFRS financial measures include:
- Adjusted EBITDA is a non-IFRS financial measure that we calculate as net income before finance expense (net), taxes, and depreciation and amortization, adjusted to exclude U.S. sales tax expenditures temporarily borne by us through the fourth quarter of fiscal 2020, IPO preparation and transaction costs and share-based compensation expenses.
- Adjusted Operating Income is a non-IFRS financial measure that we calculate as operating income, adjusted to exclude U.S. sales tax expenditures temporarily borne by us through the fourth quarter of fiscal 2020, any IPO preparation and transaction costs and share-based compensation expenses.
- Adjusted Net Income is a non-IFRS financial measure that we calculate as net income, adjusted to exclude U.S. sales tax expenditures temporarily borne by us, finance expenses on our Shareholder Loans, IPO preparation and transaction costs, share-based compensation expenses and related income tax effects.
- We are not able to forecast net income (loss) on a forward-looking basis without unreasonable efforts due to the high variability and difficulty in predicting certain items that affect net income (loss), including, but not limited to, Income taxes and Interest expense.
ÜBER MYTHERESA
Mytheresa wurde 2006 gegründet und zählt zu den weltweit führenden E-Commerce-Plattformen für Luxusmode. Der Online Shop bietet Ready-to-Wear, Schuhe, Taschen und Accessoires für Damen, Herren sowie Kinder und konzentriert sich auf Designer-Marken wie Bottega Veneta, Burberry, Dolce & Gabbana, Fendi, Gucci, LOEWE, Loro Piana, Moncler, Prada, Saint Laurent, Valentino und viele weitere. Der Fokus auf High-End-Kunden, exklusive Produkte und Inhalte, führende Technologie- und Analyseplattformen sowie qualitätsorientierte Servicevorgänge macht das einzigartige digitale Shopping- Erlebnis von Mytheresa aus.
Für weitere Informationen besuchen Sie bitte: https://investors.mytheresa.com/.
Financial Results and Key Operating Metrics
| |||||||||||||
| Three Months Ended |
| Nine Months Ended | ||||||||||
|
|
|
|
|
|
|
|
|
|
|
| ||
|
March 31,
|
|
March 31,
|
|
Change
|
|
March 31,
|
|
March 31,
|
|
Change
| ||
|
|
|
|
|
|
|
|
|
|
|
| ||
(in millions) (unaudited) |
|
|
|
|
|
|
|
|
|
|
| ||
Active customer (LTM in thousands) | 463 |
| 621 |
| 34.1% |
| 463 |
| 621 |
| 34.1% | ||
Total orders shipped (LTM in thousands) | 1,046 |
| 1,384 |
| 32.3% |
| 1,046 |
| 1,384 |
| 32.3% | ||
|
|
|
|
|
|
|
|
|
|
|
| ||
Net sales | € 111.7 |
| € 164.8 |
| 47.5% |
| € 330.2 |
| € 449.7 |
| 36.2% | ||
Gross profit | € 49.9 |
| € 72.4 |
| 44.9% |
| € 154.7 |
| € 209.6 |
| 35.5% | ||
Gross profit margin(1) | 44.7% |
| 43.9% |
| (80 BPs) |
| 46.8% |
| 46.6% |
| (20 BPs) | ||
Adjusted EBITDA(2) | € 3.1 |
| € 11.1 |
| 257.1% |
| € 20.3 |
| € 43.7 |
| 114.9% | ||
Adjusted EBITDA margin(1) | 2.8% |
| 6.8% |
| 400 BPs |
| 6.2% |
| 9.7% |
| 350 BPs | ||
Adjusted Operating Income(2) | € 1.2 |
| € 9.1 |
| 635.1% |
| € 14.6 |
| € 37.6 |
| 157.6% | ||
Adjusted Operating Income margin(1) | 1.1% |
| 5.5% |
| 440 BPs |
| 4.4% |
| 8.4% |
| 400 BPs | ||
Adjusted Net Income(2) | € (0.1) |
| € 4.5 |
| N/A |
| € 9.9 |
| € 24.5 |
| 148.1% | ||
Adjusted Net Income margin(1) | (0.1%) |
| 2.7% |
| 280 BPs |
| 3.0% |
| 5.5% |
| 250 BPs | ||
(1) | As a percentage of net sales. | |
(2) | EBITDA, adjusted EBITDA, adjusted Operating Income, adjusted net income are measures not defined under IFRS. For further information about how we calculate these measures and limitations of its use, see below. | |
MYT Netherlands Parent B.V.
Financial Results and Key Operating Metrics
(Amounts in € millions)
The following are reconciliations of Adjusted EBITDA, Adjusted Operating Income, and Adjusted Net Income to their most directly comparable IFRS measures:
| Three Months Ended |
| Nine Months Ended | ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31,
|
|
March 31,
|
|
Change
|
|
March 31,
|
|
March 31,
|
|
Change
|
|
|
|
|
|
|
|
|
|
|
|
|
(in millions) (unaudited) |
|
|
|
|
|
|
|
|
|
|
|
Net income | € (6.7) |
| € (50.0) |
| 642.7% |
| € (4.7) |
| € (24.6) |
| 422.6% |
Finance expenses, net | € 5.5 |
| € (4.6) |
| (183.5%) |
| € 11.5 |
| € (14.8) |
| (228.4%) |
Income tax expense | € (0.2) |
| € 3.8 |
| N/A |
| € 0.7 |
| € 13.5 |
| N/A |
Depreciation and amortization | € 1.9 |
| € 2.0 |
| 8.4% |
| € 5.7 |
| € 6.1 |
| 6.3% |
thereof depreciation of right- of use assets | € 1.3 |
| € 1.3 |
| 1.7% |
| € 3.7 |
| € 3.9 |
| 4.9% |
EBITDA | € 0.5 |
| € (48.7) |
| N/A |
| € 13.2 |
| € (19.8) |
| (250.1%) |
U.S. sales tax(1) | € 0.4 |
| € 0.0 |
| (100.0%) |
| € 2.1 |
| € 0.0 |
| (100.0%) |
IPO preparation and transaction costs(2) | € 2.2 |
| € 3.3 |
| 47.2% |
| € 5.0 |
| € 7.0 |
| 40.7% |
IPO related share-based compensation(3) | € 0.0 |
| € 56.5 |
| N/A |
| € 0.1 |
| € 56.6 |
| N/A |
Adjusted EBITDA | € 3.1 |
| € 11.1 |
| 257.1% |
| € 20.3 |
| € 43.7 |
| 114.9% |
| Three Months Ended |
| Nine Months Ended | ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31,
|
|
March 31,
|
|
Change
|
|
March 31,
|
|
March 31,
|
|
Change
|
|
|
|
|
|
|
|
|
|
|
|
|
(in millions) (unaudited) |
|
|
|
|
|
|
|
|
|
|
|
Operating Income | € (1.4) |
| € (50.7) |
| N/A |
| € 7.5 |
| € (25.9) |
| (447.6%) |
U.S. sales tax(1) | € 0.4 |
| € 0.0 |
| (100.0%) |
| € 2.1 |
| € 0.0 |
| (100.0%) |
IPO preparation and transaction costs(2) | € 2.2 |
| € 3.3 |
| 47.2% |
| € 5.0 |
| € 7.0 |
| 40.7% |
IPO related share-based compensation(3) | € 0.0 |
| € 56.5 |
| N/A |
| € 0.1 |
| € 56.6 |
| N/A |
Adjusted Operating Income | € 1.2 |
| € 9.1 |
| 635.1% |
| € 14.6 |
| € 37.6 |
| 157.6% |
MYT Netherlands Parent B.V.
| |||||||||||
| Three Months Ended |
| Nine Months Ended | ||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31,
|
|
March 31,
|
|
Change
|
|
March 31,
|
|
March 31,
|
|
Change
|
|
|
|
|
|
|
|
|
|
|
|
|
(in millions) (unaudited) |
|
|
|
|
|
|
|
|
|
|
|
Net Income | € (6.7) |
| € (50.0) |
| 642.7% |
| € (4.7) |
| € (24.6) |
| 422.6% |
U.S. sales tax(1) | € 0.4 |
| € 0.0 |
| (100.0%) |
| € 2.1 |
| € 0.0 |
| (100.0%) |
IPO preparation and transaction costs(2) | € 2.2 |
| € 3.3 |
| 47.2% |
| € 5.0 |
| € 7.0 |
| 40.7% |
IPO related share-based compensation (3) | € 0.0 |
| € 56.5 |
| N/A |
| € 0.1 |
| € 56.6 |
| N/A |
Finance expenses on shareholder loans (4) | € 5.4 |
| € (5.0) |
| (192.6%) |
| € 11.0 |
| € (16.0) |
| (245.0%) |
Income tax effect(5) | € (1.4) |
| € (0.4) |
| (72.5%) |
| € (3.6) |
| € 1.6 |
| (143.7%) |
Adjusted Net Income | € (0.1) |
| € 4.5 |
| N/A |
| € 9.9 |
| € 24.5 |
| 148.1% |
(1) | Represents expenses related to sales tax liabilities temporarily borne by us through the fourth quarter of fiscal 2020 in the United States. We temporarily incurred sales tax related liabilities on customer purchases in the United States because we were not able to charge our customers for these amounts at the point of sale under our previous IT configuration. Due to upgrades in our IT infrastructure during the fourth quarter of fiscal 2020, we no longer incur these expenses, as we charge the applicable U.S. sales tax directly to our customers. | |
(2) | Represents non-recurring professional fees, including consulting, legal and accounting fees, related to this offering, which are classified within selling, general and administrative expenses. | |
(3) | With the effective IPO, certain key management personnel received a one-time granted share-based compensation with €3.2 million other long-term plans canceled. We do not consider these expenses to be indicative of our core operating performance. | |
(4) | Our Adjusted Net Income excludes finance expenses associated with our Shareholder Loans, which we do not consider to be indicative of our core performance. We did not receive any cash proceeds under the Shareholder Loans, which originated as part of the Neiman Marcus acquisition in 2014. In January 2021, we repaid our Shareholder Loans (principal plus outstanding interest) using a portion of the net proceeds from our initial public offering. | |
(5) | Reflects adjustments to historical income tax expense to reflect changes in taxable income for each of the periods presented due to changes in finance expenses related to the Shareholder Loans, assuming a statutory tax rate of 27.8%. | |
|
|
MYT Netherlands Parent B.V.
| |||||||||||||
|
|
|
| Three Months Ended |
| Nine Months Ended |
| ||||||
|
|
|
|
|
|
|
|
|
|
| |||
(in € thousands) |
|
|
|
March 31,
|
|
March 31,
|
|
March 31,
|
|
March 31,
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Net sales |
|
|
| 111,735 |
| 164,776 |
| 330,216 |
| 449,728 |
|
| |
Cost of sales, exclusive of depreciation and amortization |
|
|
| (61,798) |
| (92,413) |
| (175,553) |
| (240,114) |
|
| |
Gross profit |
|
|
| 49,937 |
| 72,363 |
| 154,663 |
| 209,614 |
|
| |
Shipping and payment cost |
|
|
| (13,129) |
| (19,265) |
| (40,474) |
| (51,931) |
|
| |
Marketing expenses |
|
|
| (16,199) |
| (22,094) |
| (49,310) |
| (59,231) |
|
| |
Selling, general and administrative expenses |
|
|
| (20,001) |
| (80,040) |
| (51,796) |
| (117,701) |
|
| |
Depreciation and amortization |
|
|
| (1,881) |
| (2,040) |
| (5,745) |
| (6,107) |
|
| |
Other expense (income), net |
|
|
| (124) |
| 329 |
| 120 |
| (568) |
|
| |
Operating income |
|
|
| (1,397) |
| (50,747) |
| 7,457 |
| (25,925) |
|
| |
Finance (expense) income, net |
|
|
| (5,522) |
| 4,610 |
| (11,506) |
| 14,768 |
|
| |
Income (loss) before income taxes |
|
|
| (6,919) |
| (46,137) |
| (4,049) |
| (11,157) |
|
| |
Income tax (expense) income |
|
|
| 189 |
| (3,838) |
| (663) |
| (13,464) |
|
| |
Net income (loss) |
|
|
| (6,729) |
| (49,975) |
| (4,711) |
| (24,621) |
|
| |
Cash Flow Hedge |
|
|
| 513 |
| (992) |
| (333) |
| (43) |
|
| |
Income Taxes related to Cash Flow Hedge |
|
|
| (143) |
| 211 |
| 93 |
| (20) |
|
| |
Foreign currency translation |
|
|
| 3,520 |
| - |
| 4,738 |
| - |
|
| |
Other comprehensive income (loss) |
|
|
| 3,890 |
| (781) |
| 4,498 |
| (63) |
|
| |
Comprehensive income (loss) |
|
|
| (2,839) |
| (50,755) |
| (214) |
| (24,683) |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
Basic and diluted earnings per share |
|
| € | (0.10) | € | (0.60) | € | (0.07) | € | (0.33) |
|
| |
Weighted average ordinary shares outstanding (basic and diluted) |
|
|
| 70,190,687 |
| 82,785,116 |
| 70,190,687 |
| 74,388,830 |
|
| |
MYT Netherlands Parent B.V.
| ||||||
(in € thousands) |
| June 30, 2020 | March 31, 2021 | |||
Assets |
| |||||
Non-current assets |
| |||||
Intangible assets and goodwill |
| 154,966 | 154,807 | |||
Property and equipment, net |
|
|
| 9,570 |
| 9,046 |
Right-of-use assets |
| 19,001 | 15,105 | |||
Total non-current assets |
| 183,537 | 178,958 | |||
Current assets |
|
|
| |||
Inventories |
|
|
| 169,131 |
| 232,557 |
Trade and other receivables |
| 4,815 | 5,620 | |||
Other assets |
|
|
| 18,949 |
| 16,811 |
Cash and cash equivalents |
| 9,367 | 56,008 | |||
Total current assets |
|
|
| 202,263 |
| 310,995 |
Total assets |
| 385,800 | 489,953 | |||
|
|
| ||||
Shareholders’ equity and liabilities |
|
|
| |||
Subscribed capital |
| 1 | 1 | |||
Capital reserve |
|
|
| 91,008 |
| 429,514 |
Accumulated Deficit |
| (28,232) | (52,853) | |||
Other comprehensive income |
|
|
| 1,602 |
| 1,539 |
Total shareholders’ equity |
| 64,377 | 378,201 | |||
|
|
| ||||
Non-current liabilities |
|
|
|
|
|
|
Shareholder Loans |
| 191,194 | - | |||
Other liabilities |
|
| 5,906 |
| - | |
Tax liabilities | 3,853 | 3,386 | ||||
Provisions |
|
| 582 |
| 715 | |
Lease liabilities | 13,928 | 10,090 | ||||
Deferred tax liabilities, net |
|
| 1,130 |
| 12,293 | |
Total non-current liabilities | 216,592 | 26,483 | ||||
Current liabilities |
|
|
|
|
| |
Liabilities to banks | 10,000 | - | ||||
Lease liabilities |
|
| 5,787 |
| 5,297 | |
Contract liabilities | 6,758 | 5,675 | ||||
Trade and other payables |
|
| 36,158 |
| 25,665 | |
Other liabilities | 46,128 | 48,632 | ||||
Total current liabilities |
|
| 104,831 |
| 85,269 | |
Total liabilities | 321,422 | 111,752 | ||||
Total shareholders’ equity and liabilities |
|
| 385,800 |
| 489,953 | |
MYT Netherlands Parent B.V.
| ||||||||||||
(in € thousands) |
|
Subscribed
|
|
Capital
|
|
Accumulated
|
|
Hedging
|
|
Foreign
|
|
Total
|
Balance as of July 1, 2019 |
| 72 |
| 148,961 |
| (34,584) |
| - |
| (3,122) |
| 111,327 |
Net income |
| - |
| - |
| (4,711) |
| - |
| - |
| (4,711) |
Other comprehensive income |
| - |
| - |
| - |
| (240) |
| 4,738 |
| 4,498 |
Comprehensive income |
| - |
| - |
| (4,711) |
| (240) |
| 4,738 |
| (214) |
Distribution |
| - |
| (191,207) |
| - |
| - |
| - |
| (191,207) |
Contribution |
| - |
| 96,938 |
| - |
| - |
| - |
| 96,938 |
Legal Reorganization |
| (71) |
| 36,251 |
| - |
| - |
| - |
| 36,180 |
Share-based compensation |
| - |
| 58 |
| - |
| - |
| - |
| 58 |
Balance as of March 31, 2020 |
| 1 |
| 91,001 |
| (39,295) |
| (240) |
| 1,616 |
| (43,856) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Balance as of July 1, 2020 |
| 1 |
| 91,008 |
| (28,232) |
| - |
| 1,602 |
| 64,377 |
Net income |
| - |
| - |
| (24,621) |
| - |
| - |
| (24,621) |
Other comprehensive income |
| - |
| - |
| - |
| (63) |
| - |
| (63) |
Comprehensive income |
| - |
| - |
| (24,621) |
| (63) |
| - |
| (24,683) |
Capital increase initial public offering (referred to as IPO) |
| - |
| 283,224 |
| - |
| - |
| - |
| 283,224 |
IPO related Transaction costs |
| - |
| (4,550) |
| - |
| - |
| - |
| (4,550) |
Share-based compensation |
| - |
| 59,833 |
| - |
| - |
| - |
| 59,833 |
Balance as of March 31, 2021 |
| 1 |
| 429,514 |
| (52,853) |
| (63) |
| 1,602 |
| 378,201 |
MYT Netherlands Parent B.V.
| ||||||
Nine months ended March 31, | ||||||
(in € thousands) | 2020 | 2021 | ||||
Net (loss) income |
|
|
| (4,711) |
| (24,621) |
Non-Cash items |
|
|
|
|
|
|
Depreciation and amortization |
|
|
| 5,745 |
| 6,107 |
Finance expense (income), net |
|
|
| 11,506 |
| (14,768) |
Share-based compensation |
|
|
| 58 |
| 59,833 |
Income tax (income) expense |
|
|
| 663 |
| 13,464 |
Change in operating assets and liabilities |
|
|
|
|
|
|
Increase in provisions |
|
|
| 15 |
| 133 |
Increase in inventories |
|
|
| (36,032) |
| (63,425) |
Decrease (increase) in trade and other receivables |
|
|
| 3,857 |
| (805) |
Decrease (increase) in other assets |
|
|
| (1,610) |
| 2,526 |
Increase in other liabilities |
|
|
| 13,080 |
| (3,936) |
Increase (decrease) in contract liabilities |
|
|
| 247 |
| (1,083) |
(Decrease) increase in trade and other payables |
|
|
| (13,225) |
| (10,493) |
Income taxes paid |
|
|
| (2,325) |
| (2,684) |
Net cash (outflow) from operating activities |
|
|
| (22,733) |
| (39,751) |
Expenditure for property and equipment and intangible assets |
|
|
| (1,843) |
| (1,555) |
Proceeds from sale of property and equipment and intangible assets |
|
|
| - |
| 44 |
Net cash (outflow) from investing activities |
|
|
| (1,843) |
| (1,511) |
Interest paid |
|
|
| (3,346) |
| (4,581) |
Proceeds from bank liabilities |
|
|
| 53,750 |
| 64,990 |
Repayment of liabilities from banks |
|
|
| (7,149) |
| (74,990) |
Repayment of Shareholder loans |
|
|
| - |
| (171,827) |
Proceeds from capital increase |
|
|
| - |
| 283,224 |
IPO preparation and transaction costs |
|
|
| - |
| (4,550) |
Lease payments |
|
|
| (3,738) |
| (4,345) |
Net cash inflow from financing activities |
|
|
| 39,517 |
| 87,922 |
Net increase (decrease) in cash and cash equivalents |
|
|
| 14,940 |
| 46,659 |
Cash and cash equivalents at the beginning of the period |
|
|
| 2,120 |
| 9,367 |
Effects of exchange rate changes on cash and cash equivalents |
|
|
| (28) |
| (18) |
Cash and cash equivalents at end of the period |
|
|
| 17,032 |
| 56,008 |
Originalversion auf businesswire.com ansehen: https://www.businesswire.com/news/home/20210518005189/de/