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15th May 2025 Investor Presentation
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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 presentation are forward- looking statements. Forward-looking statements give the Company’s current expectations and projections relating to the YNAP acquisition and the operation of the combined companies; the Company's financial condition, results of operations, plans, objectives, future performance and business, including statements relating to financing activities; the impact of restrictions on identifiers for advertisers (IDFA); 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. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such “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. The forward-looking statements contained in this presentation are based on assumptions that the Company has made in light of its industry experience and perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. As you read and consider this presentation, you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties (many of which are beyond the Company’s control) and assumptions. Although the Company believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect its actual operating and financial performance and cause its performance to differ materially from the performance anticipated in the forward- looking statements. The Company believes these factors include, but are not limited to: the Company’s ability to effectively compete in a highly competitive industry; the Company’s ability to respond to consumer demands, spending and tastes; the Company’s ability to respond to any current or future health epidemic or other adverse public health development; the Company’s ability to acquire new customers and retain existing customers; consumers of luxury products may not choose to shop online in sufficient numbers; the volatility and difficulty in predicting the luxury fashion industry; the Company’s reliance on consumer discretionary spending; the Company’s ability to maintain average order levels; the risk that the YNAP acquisition could have an adverse effect on the ability of YNAP to retain customers and retain and hire key personnel and maintain relationships with its brand partners and customers and on their operating results and businesses generally; the risk that problems may arise in successfully integrating the businesses of YNAP and Mytheresa, which may result in the combined company not operating as effectively and efficiently as expected; the risk that the combined company may be unable to achieve cost-cutting synergies or that it may take longer than expected to achieve those synergies; and other factors. Should one or more of these risks or uncertainties materialize, or should any of these assumptions prove incorrect, the Company’s actual operating and financial performance may vary in material respects from the performance projected in these forward-looking statements. Any forward-looking statement made by the Company in this presentation speaks only as of the date on which it is made. Factors or events that could cause the Company’s actual operating and financial performance to differ may emerge from time to time, and it is not possible for the Company to predict all of them. We caution you therefore against relying on these forward-looking statements, and we qualify all of our forward-looking statements by these cautionary statements. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law. 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 and, as a result, are unable to provide a reconciliation to forecasted Adjusted EBITDA. Unless otherwise indicated, information contained in this presentation concerning our industry, competitive position and the markets in which we operate is based on information from independent industry and research organizations, other third- party sources and management estimates. Management estimates are derived from publicly available information released by independent industry analysts and other third-party sources, as well as data from our internal research, and are based on assumptions made by us upon reviewing such data, and our experience in, and knowledge of, such industry and markets, which we believe to be reasonable. In addition, projections, assumptions and estimates of the future performance of the industry in which we operate and our future performance are necessarily subject to uncertainty and risk due to a variety of factors, including those described above. These and other factors could cause results to differ materially from those expressed in the estimates made by independent parties and by us. Industry publications, research, surveys and studies generally state that the information they contain has been obtained from sources believed to be reliable, but that the accuracy and completeness of such information is not guaranteed. Forecasts and other forward-looking information obtained from these sources are subject to the same qualifications and uncertainties as the other forward-looking statements in this presentation. The preliminary financial data, financial targets for FY 25 of YNAP and non-IFRS measures included in this document has been prepared by, and is the responsibility of, the Company's management. PricewaterhouseCoopers SpA has not audited, reviewed, examined, compiled nor applied agreed-upon procedures with respect to the accompanying preliminary financial data, financial targets for FY25 and non-IFRS measures and, accordingly, PricewaterhouseCoopers SpA does not express an opinion or any other form of assurance with respect thereto. Non-IFRS Measures; Trademarks This presentation includes certain financial measures not presented in accordance with IFRS including but not limited to Adjusted EBITDA, Adjusted Operating Income and Adjusted Net Income (and Adjusted EBITDA Margin, Adjusted Operating Income Margin and Adjusted Net Income Margin). These financial measures are not measures of financial performance in accordance with IFRS and may exclude items that are significant in understanding and assessing the Company’s financial results. Therefore, these measures should not be considered in isolation or as an alternative to loss after tax, net sales, gross profit or other measures of profitability, liquidity or performance under IFRS. You should be aware that the Company’s presentation of these measures may not be comparable to similarly titled measures used by other companies, which may be defined and calculated differently. See the appendix for a reconciliation of certain of these non-IFRS measures to the most directly comparable IFRS measure. The trademarks included herein are the property of the owners thereof and are used for reference purposes only. Such use should not be construed as an endorsement of the products or services of the Company or the proposed offering. Legal Disclaimer 2
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The ambition for LuxExperience in the medium term is to reach €4bn net sales and deliver 300m EBITDA 3 €4bn+ Net Sales 7-9% Adj. EBITDA margin Adj. EBITDA €300m+
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Bold transformation plan and highly experienced management team to deliver on the ambition The ambition is based on four elements of the investment story Outstanding market opportunity given resilience of luxury and high growth potential of online Unique valuable assets in differentiated brands, global geographic reach, and a large, high-value customer base Ambitious financial targets for value creation, backed by a healthy balance sheet 4
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Market Opportunity 5
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Online luxury is a high growth opportunity, with the market expected to double by 2030 Personal luxury fashion market1 €bn 2% 13% CAGR 2024-30 73 (20%) 290 (80%) 2024E 77 (66%)40 (34%) Market growth 150 (31%) 330 (69%) 2030F Online Offline 363 117 480 1. Includes apparel, footwear, accessories (e.g. bags, small leather goods, jewelry and sunglasses). Excludes fine jewelry and timepieces (e.g., wristwatches) Source: Bain-Altagamma Luxury Goods Worldwide Market Study Fall 2024 6 2x online market size
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Within online, curated multi-brand has a superior proposition for high-spending, high value customers Comparison of online multi-brand channels 7 Inspirational, curated offering that attracts high-end occasion-driven luxury shoppers CURATED MULTI-BRAND Controlled brand worlds that attracts brand focused aspirational luxury seekers MONO-BRAND Extensive assortments that attract individual product seeking luxury shoppers MARKETPLACE
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LuxExperience is the pre-eminent multi-brand group in online luxury with combined revenues of ~€3bn 3.0 3.0 2.6 2.2 1.4 0.9 0.8 0.7 0.5 0.4 0.4 0.4 0.2 0.2 0.2 0.2 0.1 0.1 1. Not exhaustive, data for latest available fiscal year except for LuxExperience where net revenues correspond to last-twelve months ending March 31, 2025 2. Pro forma revenues 3. Excludes Nordstrom Rack 4. Online share estimated at 20% of total revenues in absence of any actual company disclosure Source: Company reports, Press research Estimated net online annual revenues of leading global luxury retailers1 €bn 3 4 4 4 8 2
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LuxExperience attracts the most global customers and sells the most expensive assortment among online luxury retailers 14% 100% 83% 100% 14% 22% 17% 37% 95% 97% 27% 69% 45% 37% 10% 13% 100% Web traffic by region Europe North America APAC RoW 764 173 751 674 170 405 208 440 Average listed retail price within apparel1 € Source: Similarweb, Webscraping 2 INDICATIVE METRICS 9 2 1. Listed retail price as of April 2025; apparel only (excl. footwear and accessories); based on US websites, except for Breuninger (EU), Bestsecret (EU), and Ounass (AE); Excluding YOOX and TON for LuxExperience 2. Excludes Nordstrom Rack
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Unique Valuable Assets 10
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With its three segments, LuxExperience is home to the strongest stores in digital luxury €1.0bn GMV1,2 0.8mm active customers1 €1.1bn GMV1,2 1.0mm active customers1 €0.8bn GMV1,2 1.8mm active customers1 11 Luxury | Mytheresa Luxury | NAP & MRP Off-Price 1. Metrics as of the last twelve-months ending Mar 31, 2025 2. Gross Merchandise Value is an operative measure and means the total Euro value of orders processed. GMV is inclusive of product value, shipping and duty. It is net of returns, value added taxes and cancellations. GMV does not represent revenue earned by us, although GMV and revenue are correlated
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Mytheresa is the leading destination for wardrobe-building high-end customers €1.0bn GMV1,2 80mm Site Visits1 0.8mm Active Customers1 €753 Average Order Value (AOV)1 12 Mytheresa | Luxury The finest edit in luxury >41% of overall net revenues made up by top customers who account for ~3.5% of Active Customers1 1. Metrics as of the last twelve-months ending Mar 31, 2025 2. Gross Merchandise Value is an operative measure and means the total Euro value of orders processed. GMV is inclusive of product value, shipping and duty. It is net of returns, value added taxes and cancellations. GMV does not represent revenue earned by us, although GMV and revenue are correlated 3. In percent of GMV 55% Europe 21% US 24% RoW Geographic Split1,3
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NET-A-PORTER and MR PORTER possess exceptional brand equity and an authoritative editorial voice €1.1bn GMV1,2 118mm Site Visits1 1.0mm Active Customers1 €768 Average Order Value (AOV)1 13 NAP & MRP | Luxury Online luxury destination for curated must-have womenswear >37% of overall net revenues made up by EIPs4 who account for ~5% of Active CustomersGo-to destination for men’s style with a unique curation for fashion and lifestyle 1. Data for last twelve-months ending Mar 31, 2025 2. Gross Merchandise Value is an operative measure and means the total Euro value of orders processed. GMV is inclusive of product value, shipping and duty. It is net of returns, value added taxes and cancellations. GMV does not represent revenue earned by us, although GMV and revenue are correlated 3. In percent of GMV 4. Extremely Important People (“EIPs”) is defined as a top customer with an average net spend above GBP 10K per year 5% 35% Europe 49% US 10% APAC MENA 1% RoW Geographic Split1,3
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Mytheresa and NAP & MRP have differentiated propositions that cover the whole luxury spectrum 14 Deep dive next 1. Brand portfolio as of December 2024, includes ready-to-wear brands only; unique number of brands across menswear and womenswear Mytheresa | Luxury NAP & MRP | Luxury Highly-curated offering, focused on established luxury brands Wider brand offering, including emerging and niche luxury brands Assortment focus Global with focus on Europe (55% of sales) Global with focus on North America (~49% of sales) Geographical focus Strong focus on wardrobe-building high-end luxury customers Focus on trend-driven high-end luxury customers Customer base ~300 brands1, focused on timeless, high-end luxury ~700 brands1, from elevated contemporary to luxury fashion Brand offering
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The Luxury segments have differentiated brand offerings with ~280 NAP and ~270 MRP brands not carried by Mytheresa N = 368N = 118N = 260 N = 471 Womenswear 21 brands Menswear 271 brands 70 brands 281 brands Note: Brand portfolio as of December 2024, includes ready-to-wear brands only 15 190 35% overlapping brands 97 25% overlapping brands DATA FOR LTM ENDING DEC, 31 2023
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As a result, the customer base of Mytheresa and NAP & MRP is clearly differentiated – <10% of customers are overlapping ~200 k 9.5% overlapping customers ~25 k top customers ~7 k 8.2% overlapping top customers ~45 k top customers ~700 k customers ~1,200 k customers 16 All customers Top customers Note: Data for last twelve-months ending Dec 31, 2023 DATA FOR LTM ENDING DEC, 31 2023
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YOOX and THE OUTNET provide valuable Off-Price propositions with close to 25 years of pioneering expertise €0.8bn GMV1,2 163mm Site Visits1 1.8mm Active Customers1 €274 Average Order Value (AOV)1,2 17 Off-Price Leading one-stop luxury fashion and lifestyle online destination Online destination for luxury fashion from previous seasons 1. Data for last twelve-months ending Mar 31, 2025 2. Gross Merchandise Value is an operative measure and means the total Euro value of orders processed. GMV is inclusive of product value, shipping and duty. It is net of returns, value added taxes and cancellations. GMV does not represent revenue earned by us, although GMV and revenue are correlated 3. In percent of GMV 49% Europe 27% US 14% APAC 8% MENA 1% RoW Geographic Split1,3
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The Off-Price customer base is clearly differentiated from Luxury – <8% of customers overlap between segments All customers ~300 k 7.5% overlapping customers Top customers ~1,900 k customers ~1,800 k customers 18 ~3 k 2.9% overlapping top customers ~74 k top customers ~25 k top customers Note: Data for last twelve-months ending Dec 31, 2023 DATA FOR LTM ENDING DEC, 31 2023
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Transformation Plan 19
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Clear and ambitious transformation plan has been put in place, anchored around 5 pillars Operations Technology Customer data Operating model 20 Corporate functions Protect and sharpen store identities Cut complexity and create clear ownership to boost speed and decision- making Optimize ops footprint for direct access to key global luxury hubs Unlock efficiencies using Mytheresa’s operational excellence capabilities Migrate NAP & MRP onto Mytheresa’s proprietary tech platform Simplify the off-price tech stack Increase tech agility and innovation across segments Drive superior customer insights leveraging the depth of the combined base Further improve group AI and data capabilities Merge and streamline data platform Streamline corporate structure and increase overall cost discipline Capture synergies in internal and external spend
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Transformation plan builds on the proven capabilities and expertise of Mytheresa Proprietary tailored luxury e-commerce tech stack suitable to onboard further luxury front ends, with a highly scalable web stack Successfully completed large scale IT migration to a future proof platform with successful go-live in summer 2023 Best-in-class customer satisfaction levels with an NPS >80%, among the highest in the industry Proven ability to capture global online luxury opportunity driving growth across geographic footprint Preferred brand relationships as demonstrated by unparalleled access to exclusive product and brand experiences Customer data analytics capabilities enabling marketing efficiency with proven track record of CAC reduction over time Global operator with shipping excellence, superior delivery times, and fast, efficient return handling 21
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Highly regarded and experienced leadership team has been put in place to execute the transformation plan 22 Michael Kliger Chief Executive Officer Joined MYT as CEO in 2015 Led Mytheresa’s journey to become one of world’s leading luxury online retailers 25+ years retail experience Dr. Martin Beer Chief Financial Officer Joined MYT as CFO in 2019 Led Mytheresa’s IPO in 2021 Deep knowledge of navigating complex financial and economic environments Heather Kaminetsky NET-A-PORTER CEO Drove Mytheresa’s significant growth in US since 2021 Extensive retail experience, incl. role as VP Global Marketing at NAP Toby Bateman MR PORTER CEO Co-founded MR PORTER, led establishment and rapid growth 30+ years in retail experience Michael Kliger, ad-interim MYTHERESA CEO Joined MYT as CEO in 2015 Led Mytheresa’s journey to become one of world’s leading luxury online retailers 25+ years retail experience Philipp Barthold Chief Technology Officer Joined MYT as CTO in 2018 Led Mytheresa’s tech stack migration in 2023 Extensive strategic leadership expertise Sebastian Dietzmann Chief Operations Officer Joined MYT as COO in 2015 Drove operational excellence and expansion of warehouse infrastructure at Mytheresa Gareth Locke Chief Data Officer Joined MYT in 2016 Drove global growth through performance marketing and customer insights & analytics Richard Johnson Chief Business Officer Joined MYT as Chief Commercial Officer in 2017 25+ years of experience in fashion retail Björn Kastl Chief People Officer Joined MYT in 2018, serving as CPO since 2019 Extensive experience in fostering performance focused and diverse work environment Francesca Tranquili Chief Transformation Officer Joined YOOX in 2010, holding various leadership roles since Extensive experience in strategy and transformation, detailed knowledge of YNAP Managing Directors Store leadership Group leadership Mirko Nobili YOOX CEO Joined YNAP in 2020 Held key Operations and Tranformation roles at Nestlé Italiana and Burberry Sabah Naqushbandi THE OUTNET MD Joined YNAP in 2013 Spearheading ongoing transformation by sharpening value proposition and portfolio
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OPERATING MODEL The new operating model establishes separate store identities, while a centralized luxury infrastructure will enable synergies Separate luxury storefront management creates success with customers, while centralized operations coordinate for synergies Centralized infrastructure Operations Technology Data Commercial Separate store operations Buying & Merchandising Content production & site management Brand & performance marketing Personal shopping & customer engagement 23 HR Finance Technology Operations Simplified, standalone off-price business HR Finance
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Complementary operations footprint with access to the main global luxury hubs and optimization opportunities OPERATIONS 24 Mahwah London Leipzig Landriano Dubai Hong Kong1 Clifton Interporto Tokyo ~20%+ productivity improvement opportunity in warehouses, by simplifying current flows to reach previously achieved levels Unrivaled access and service to key luxury hubs - New York, London, Milan, and Munich Up to 40% lower costs per photo in digital production, by leveraging MYT capabilities Luxury | NAP & MRP Warehouses Luxury | Mytheresa Warehouse Off-Price Warehouses ~30%+ lower costs per customer care contact in MYT vs. NAP & MRP, while delivering best-in-class customer satisfaction levels Luxury | NAP & MRP and Off-Price Warehouse 1. Hong Kong warehouse serves both Luxury | NAP & MRP and Off-Price
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Migrating NAP & MRP onto Mytheresa’s proprietary tech stack will drive major efficiencies TECHNOLOGY 25 ~70% tech cost reduction opportunity due to modularization and standardization unlocking Maximized efficiency due to simplification and separation of Luxury and Fashion infrastructure Distinctive user experience and unique branding due to separate digital storefronts Boosted performance and scalability ensuring future-proofness for growth expectations New systemCurrent MYT technologyExisting NAP / MRP technology Digital Store Front Order Management Hub (OMS) Data & Marketing API Layer Content & Commerce Platform NAP/MRP Product Information Management (PIM) WMS ERP Accounting Digital Store Front CRM OMS MYT ERP/PIM WMS/ERP Digital Store Front NAP MRP MYT Purchase Order Mgmt (POM)
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Joint customer data and insights will fuel group-wide growth, without threatening store differentiation Superior customer insights and AI capabilities to step- change… ~4mm active customers CUSTOMER INSIGHTS 26 Personalization Improve customer understanding and targeting, offer hyper-personalized recommendations based on increased number of events per customer Relevance Accurately predict customers’ future shopping behavior to focus efforts on developing potential top customers Brand performance Extensively improve insights shared with brands, provide unique partnership opportunities, and fuel designer collaboration 50%+ opportunity in data platform costs by establishing lean processes and simplifying business requirements Note: Data for last twelve-months ending Dec 31, 2023 DATA FOR LTM ENDING DEC, 31 2023
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Financial Targets 27
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LuxExperience will be reporting along three financial segments 28 LUXURY | MYT €1.0bn GMV1,2 OFF-PRICE €0.8bn GMV1,2 €1.1bn GMV1,2 LUXURY | NAP & MRP 1. Metrics as of the last twelve-months ending Mar 31, 2025 2. Gross Merchandise Value is an operative measure and means the total Euro value of orders processed. GMV is inclusive of product value, shipping and duty. It is net of returns, value added taxes and cancellations. GMV does not represent revenue earned by us, although GMV and revenue are correlated
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8.0% 7.9% 9.0% 9.6% 5.3% 3.1% 3-5% Mytheresa has a track record of strong, profitable growth 379 450 612 690 769 841 FY19 FY20 FY21 FY22 FY23 FY24 FY25E2 900-905+17% CAGR Mytheresa net sales development FY18-FY25E1 €MM Proven growth trajectory, outperforming the market Best-in-class profitability, compared to online peers Positive Operating Cash Flow, despite double-digit growth 29 Adj. EBITDA Margin Operating CF (€MM) Cash flow positive >€6m, despite double-digit growth 1. Fiscal year ends June 30th 2. As per guidance
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Mytheresa continues to deliver profitable growth against a tough macro environment 30 Q3 FY251 YoY GROWTH Gross Merchandise Value (GMV) (€MM) 261.3 3.8% Top Customers GMV3 (€MM) 96.5 7.8% Net Sales (€MM) 242.5 3.8% Gross Profit Margin4 44.8% 140bps Adjusted EBITDA5 (€MM) 9.3 5.5% Adjusted EBITDA Margin4,5 3.9% 10bps Adjusted Operating Income5 (€MM) 5.5 9.7% Adjusted Operating Income Margin4,5 2.3% 20bps Adjusted Net Income5 (€MM) 5.4 42.7% Adjusted Net Income Margin4,5 2.2% 60bps FYTD 252 YoY GROWTH 722.6 7.2% 277.9 9.8% 667.2 8.0% 46.6% 150bps 28.4 86.7% 4.3% 180bps 16.6 303.2% 2.5% 180bps 21.4 572.9% 3.2% 270bps 1. Represents the three months ended March 31st, 2025 2. Represents the nine months ended March 31st, 2025 3. Based on BI figures, reconciliation 4. As % of Net Sales 5. Adjusted to exclude other transaction-related, certain legal and other expenses and share-based compensation
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Mytheresa confirms its medium-term growth and margin targets due to outstanding business model resilience 31 Medium-Term Targets1FY24 Actuals GMV % Growth Gross Profit Margin as % of Net Sales Adjusted EBITDA Margin2 as % of Net Sales Net Sales % Growth 45.7% 3.1%3 €914m 7% €841m 10% 15-20% CAGR with strong category, regional, and Top Customer Growth Increasing Gross Profit Margin continued focus on full price with decreasing promotional environment Returning to 7-9% margin due to increasing gross margin and slightly decreasing cost ratios 1. These are not projections; they are goals / targets and are forward-looking, subject to significant business, economic, regulatory and competitive uncertainties and contingencies, many of which are beyond the control of the Company and its management, and are based upon assumptions with respect to future decisions, which are subject to change. Actual results will vary and those variations may be material. For discussion of some of the important factors that could cause these variations, please consult the "Risk Factors" section of the Form 20-F filed with the U.S. Securities and Exchange Commission on September 12, 2024. Nothing in this presentation should be regarded as a representation by any person that these goals / targets will be achieved and the Company undertakes no duty to update its goals; 2. We present Adjusted EBITDA per IFRS16 guidance. Right-of-use assets, including leases, are capitalized and amortized according to this accounting convention resulting in an increase in our amortization and interest expense not found with Non-IFRS reporting companies. We suggest analysts and investors evaluate all profitability measures, including net income, when comparing Mytheresa to other companies 3. Adjusted to exclude other transaction-related, certain legal and other expenses and share-based compensation; FY25 Forecast 46.5-47.0% 3.0-5.0% €900-905m 7.0-7.5% €975-980m 7.0-7.5%
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0.5% (3.9%) 1.8% 3.3% 3.1%5 NET-A-PORTER and MR PORTER have undergone a strategic reset, leading to conscious topline decline since FY23 1,258 985 1,230 1,349 1,203 1,068 FY202 FY212 FY222 FY23 FY24 FY253 NET-A-PORTER and MR PORTER net sales development FY20-251 €MM Volume-to-Quality strategy, re-focusing the business on high- value luxury customers Gross profit margin improvements achieved in recent years, but further upside to be captured by focusing on full price Lower net sales level requires additional focus on SG&A cost reduction Net-A-Porter and Mr Porter are set to return to growth trajectory in the near term 32 Adj. EBITDA Margin4 1. Fiscal year ends March 31st , all figures are unaudited regarding segment reporting 2. Figures for FY20, FY21 and FY22 have been prepared based on management reporting 3. Figures for FY25 are preliminary 4. Adjusted to exclude restructuring costs and share-based compensation expenses 5. FY24 and FY25 further adjusted for expenses and gains related to exceptional inventory write down 2.6%5
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FY25 financials for NET-A-PORTER and MR PORTER confirm they are on the right track and there is clear upside Mytheresa NET-A-PORTER & MR PORTER 33 FOCUS AREAS FOR NAP & MRP Reembark on growth trajectory Drive further improvement in gross profit margin through continued focus on full price and CLV optimization Drastically improve SG&A cost ratio, majority within already identified areas of opportunity: • >70% lower tech costs – unlocked through the migration to MYT tech stack • >30% lower customer care costs per contact • >20-30% higher warehouse productivity • >70% lower data platform costs FY241 FY251 LTM March, 2024 LTM March, 2025 1. Fiscal year ended March 31st, figures are unaudited regarding segment reporting and FY25 figures are preliminary 2. Adjusted to exclude expenses and gains related to exceptional inventory write down 3. Adjusted to exclude restructuring costs and share-based compensation expenses Gross Profit Margin2 as % of Net Sales 46.7% 45.1% 46.1% 46.8% Shipping & Payment as % of GMV 12.0% 12.0% 14.5% 14.1% Net Sales % growth (10.9%) (11.2%) 11.4% 8.4% Adj. EBITDA margin2,3 as % of Net Sales 3.1% 2.6% 2.9% 4.7% Marketing Expenses as % of GMV 8.1% 8.0% 11.4% 11.2% SG&A as % of GMV 21.7% 21.7% 13.7% 13.7% Capex €MM 38.0 33.1 13.3 4.7
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Off-price has also initiated the strategic shift from volume to quality Off-price (YOOX / The Outnet) net sales development FY20-251 €MM 34 946 926 1,208 1,177 957 826 FY202 FY212 FY222 FY23 FY24 FY253 Adj. EBITDA Margin4 (7.6%) 1.8% (2.7%) (8.5%) (12.4%)5 Volume-to-Quality strategy, initiated in FY24, focusing the business on high-value customers and resulting in a conscious topline decrease Higher profitability through improved gross profit margin (9.8%)5 1. Fiscal year ends March 31st , all figures are unaudited regarding segment reporting 2. Figures for FY20, FY21 and FY22 have been prepared based on management reporting 3. Figures for FY25 are preliminary 4. Adjusted to exclude restructuring costs and share-based compensation expenses 5. FY24 and FY25 further adjusted for expenses and gains related to exceptional inventory write down
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The elevation and simplification of Off-Price will enable it to reach “best-in-class” benchmarks Off-Price “Best-In-Class”Off-Price – YOOX / TON 35 FOCUS AREAS FOR OFF-PRICE Drive improvements in gross margin through focus on high value customers and AIVs Drastically improve SG&A cost ratio, through establishment of a simplified and lean business model set-up Simplify operational footprint and increase productivity levels through capacity adjustments and renegotiation of 3P contracts, returning to previously achieved levels or MYT benchmark where relevant FY241 FY251 Gross Profit Margin2 as % of Net Sales 36.7% 36.3% 43% Shipping & Payment as % of GMV 19.7% 16.6% 18% Net Sales % growth (18.7%) (13.7%) 12% Adj. EBITDA margin2,3 as % of Net Sales (11.1%) (8.7%) 13% Marketing Expenses as % of GMV 7.1% 6.2% 5% SG&A as % of GMV 19.5% 22.1% 9% Capex €MM 28.5 24.1 N/A 1. Fiscal year ended March 31st, figures are unaudited, regarding segment reporting. FY25 figures are preliminary 2. Adjusted to exclude expenses and gains related to exceptional inventory write down 3. Adjusted to exclude restructuring costs and share-based compensation expenses
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Medium-term targets for Luxury and Off-Price focused on delivering high-single digit adj. EBITDA margin Near-term targets2 Medium- term targets2 Off-Price – YOOX and The OutnetLuxury – NET-A-PORTER and MR PORTER Near-term targets2 Medium-term targets2 FY251FY251 1. Fiscal year ended March 31st, figures are preliminary and are unaudited regarding segment reporting 2. These are not projections; they are goals / targets and are forward-looking, subject to significant business, economic, regulatory and competitive uncertainties and contingencies, many of which are beyond the control of the Company and its management, and are based upon assumptions with respect to future decisions, which are subject to change. Actual results will vary and those variations may be material. For discussion of some of the important factors that could cause these variations, please consult the "Risk Factors" section of the Form 20-F filed with the U.S. Securities and Exchange Commission on September 12, 2024. Nothing in this presentation should be regarded as a representation by any person that these goals / targets will be achieved and the Company undertakes no duty to update its goals; 3. Adjusted to exclude expenses and gains related to exceptional inventory write down 4. Adjusted to exclude restructuring costs and share-based compensation expenses 5. Operating Cash Flow before tax and restructuring costs 36 GMV % growth (12.2%) Net Sales % growth (11.2%) CAGR during restructuring period (5%)-5% CAGR post- restructuring 10%+ Gross Profit Margin as % of Net Sales 45.1%3 Continued focus on full price Increase in gross margin Adj. EBITDA margin4 as % of Net Sales 2.6%3 3-6% 7-9% Operating Cash Flow5 €MM N/A Slightly negative Positive GMV % growth Net Sales % growth (13.6%) (13.7%) CAGR during restructuring period (25%)-(15%) CAGR post- restructuring 10%+ Gross Profit Margin as % of Net Sales 36.3%3 Continued focus on valuable customers Increase in gross margin Operating Cash Flow4 €MM N/A Adj. EBITDA margin4 as % of Net Sales (8.7%)3 (5%)-(3%) 7-9% Negative Positive SG&A as % of GMV 21.7% Streamline business model and drive synergies Decreasing cost ratio SG&A as % of GMV 22.1% Streamline business model and drive synergies Decreasing cost ratio
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Transformation of NAP & MRP and Off-Price (YOOX/TON) will require €200-250MM restructuring costs and take 24-36 months Operations Corporate Total Technology H1 FY27 H1 FY28 H1 FY28 100-120 20-30 80-100 H1 FY28 200-250 Est. completion year Est. cost to achieve (€ MM) Key synergy drivers • Streamlining logistics footprint, required to drive technology simplification and process optimization across both Luxury (NAP/MRP) and Off-Price (YOOX/TON) • Replatforming of Luxury (NAP/MRP) tech stack onto Mytheresa’s proprietary technology • Simplification of Off-Price tech stack • Streamlining corporate structure and increasing overall cost discipline • Capturing synergies in internal and external spend • Achieving comparable business model set up to Mytheresa for NAP/MRP and Off-Price “Best-In-Class” for YOOX/TON 37
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LuxExperience expected to return to positive adjusted EBITDA margin in the near-term, Luxury - NAP/MRP positive in FY25 FY24 FY25E FY26/27E FY28/30E (1.4%) (1)-0% 1-4% 7-9% LuxExperience targeted adjusted EBITDA margin development1,2 % Luxury - MYT 3.1% 3-5% 5-7% 7-9% Luxury – NAP/MRP Off-Price 3.1%3 2.6%3 3-6% 7-9% (11.1%)3 (8.7%)3 (5)-(3)% 7-9% 1. Pro-forma financials for FY24 and FY25 2. For FY24 and FY25, YNAP fiscal year ended March 31st and Mytheresa fiscal year ends June 30th. YNAP figures are unaudited regarding segment reporting 3. Adjusted for expenses and gains related to exceptional inventory write downs 38
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Turnaround plan fully funded with cash on balance sheet, and significant liquidity headroom left 39 Transformation Cost 150-200 Operating cash burn until turnaroud Cash required for turnaround 200-250 350-450 605 175 LuxExperience total liquidity Non-utilized RCFs Cash at hand 780 LuxExperience estimated cash need vs. current funds €MM YNAP cash burn in FY25 amounted to €57m1 1. Total cash flow after taxes; IFRS reporting excluding Feng Mao
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At group level, LuxExperience targets €4bn net sales and 7-9% adj. EBITDA in the medium-term 40 Medium-term targets1 GMV / Net Sales % Growth 10-15% CAGR to achieve €4bn net sales in FY30 Adjusted EBITDA Margin as % of Net Sales Near-term targets1 (1%)-1% CAGR 1-4% 7-9% 1. These are not projections; they are goals / targets and are forward-looking, subject to significant business, economic, regulatory and competitive uncertainties and contingencies, many of which are beyond the control of the Company and its management, and are based upon assumptions with respect to future decisions, which are subject to change. Actual results will vary and those variations may be material. For discussion of some of the important factors that could cause these variations, please consult the "Risk Factors" section of the Form 20-F filed with the U.S. Securities and Exchange Commission on September 12, 2024. Nothing in this presentation should be regarded as a representation by any person that these goals / targets will be achieved and the Company undertakes no duty to update its goals;