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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 projectionsrelating 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 projectedcapital 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 futureperformance 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 estimatesmade 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. 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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What You Need to Know about LuxExperience 3 A Unique Business … … with Unique Performance Leading curated top luxury fashion digital platform truly differentiated in terms of assortment and customer focus Globally present with a complete offering of luxury womenswear, menswear, kidswear and home décor and lifestyle products Finest edit only from top luxury brands with constant offering of capsules, exclusives and events only available at Mytheresa Focus on the true high-end of luxury, wardrobe-building customers with industry-leading AOVs, repurchase rates and multi-year loyalty Fully committed to full-price business supported by in- house campaign production and industry-leading customer satisfaction Combining consistent double-digit, multi-year GMV growth outpacing overall online luxury fashion market with high class financial KPIs Strong gross profit margin driven by full-price focus and consistent merchandise sell-out rates First-year pay-back of customer acquisition costs (CAC) and proven track record of CAC reduction over time Consistent and multi-year track record of positive Adjusted EBITDA profitability Moderate CapEx requirements for growth with Technology investments fully reflected in OpEx
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LuxExperience Offers a Unique Investment Opportunity 4 Outstanding Market Fundamentals Given Resilience of Luxury and High Growth Potential of Online A Unique and Differentiated Value Proposition Recognized Both by Brand Partners and Customers A Highly Loyal and Engaged Luxury Customer Base Delivering Excellent Economics A Unique Business Model Achieving Excellent Business KPIs as well as Strong Growth and Profitability
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Business Highlights Q3 FY25
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Business Highlights For The Mytheresa Business In Q3 FY25 • Solid GMV growth with +3.8% in Q3 FY25 vs. Q3 FY24 and +7.2% in FYTD25 vs. FYTD24 • Double-digit GMV growth on a two-year basis of +19.3% in Q3 FY25 vs. Q3 FY23 • GMV growth in the United States of +3.9% in Q3 FY25 vs. Q3 FY24 and total GMV share of the US expanding to 22.0% • Successful 2-week immersive Aspen Après-Ski Experience in cooperation with Bemelmans Bar attracting over 1,800 guests • Acquisition of YOOX NET-A-PORTER and Renaming to “LuxExperience” with new ticker symbol of “LUXE” Strong Global Expansion • High-impact top customer activations and true “money can’t buy” experiences in Europe, the US and Asia • Launch of exclusive capsule collections and pre-launches in collaboration with Loewe, Etro, Balenciaga, Manolo Blahnik, Saint Laurent, Bottega Veneta, Valentino Garavani, Toteme, Tod’s and many more • Expansion of partnership with Prada to global distribution rights including the US • Successful operations of now 8 major brands under the Curated Platform Model (CPM) Continued Brand Support • Outstanding customer satisfaction with an industry-leading Net Promoter of 86.0% in Q3 FY25 • Strong operational indicators in Q3 FY25 showcasing resilience and adaptability of the Mytheresa business model with increased AOV, reduced return rates, improved gross margin and continued profitability on Adjusted EBITDA level Consistent Strong Operational Performance • Active customer base LTM of 837,000 customers • Good number of first-time buyers in the third quarter with around 107,000 new customers • Customer cohorts acquired in Q4 FY24 show stable repurchase rates nine months later in Q3 FY25 vs. Q4 FY23 cohorts • Continuous growth of GMV per Top Customers with +17.9% in Q3 FY25 vs. Q3 FY24 High-Quality Customer Growth 6
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Solid GMV Growth in Q3 FY25 And Accelerating Two-Year Growth Rates For Mytheresa 7 Notes: 1 “Gross Merchandise Value” (“GMV”) is an operative measure and means the total Euro value of orders processed. GMV is inclus ive of product value, shipping and duty. It is net of returns, value added taxes and cancellations. GMV does not represent revenu e earned by us, although GMV and revenue are correlated. +6.3% +11.9% +3.8% +7.2% Q1 FY25 Q2 FY25 Q3 FY25 FYTD 25 (in %) +9.8% +13.8% +19.3% +14.5% Q1 FY25 Q2 FY25 Q3 FY25 FYTD 25 (in %) Gross Merchandise Value (GMV)1 Yo2Y GrowthYoY Growth
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(in %) (in %) US Share of GMVYoY Growth Continued Significant Share of Mytheresa’s Global GMV for The United States GMV1 Development United States 8 Notes: 1 “Gross Merchandise Value” (“GMV”) is an operative measure and means the total Euro value of orders processed. GMV is inclus ive of product value, shipping and duty. It is net of returns, value added taxes and cancellations. GMV does not represent revenu e earned by us, although GMV and revenue are correlated. +13.6% +17.1% +3.9% +10.7% Q1 FY25 Q2 FY25 Q3 FY25 FYTD 25 20.0% 20.1% 22.0% 20.7% Q1 FY25 Q2 FY25 Q3 FY25 FYTD 25
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Mytheresa’s Successful Two-Week Immersive Après-Ski Experience in Aspen With Strong Acquisition Of New High-Net- Worth Customers Strong Acquisition of New Top Customers • Unique Immersive experience: Interactive 2-week experience to inspire and entertain our customers with an immersive après-ski experience in Aspen. Guests were invited to enjoy a luxurious, intimate setting and to experience the world of Mytheresa. • Cooperation with Bemelmans Bar, a storied New York venue within The Carlyle, a Rosewood Hotel, celebrating the art of entertaining alongside signature martinis and live piano. • High-Net-Worth customers: • Seated guests: 1,872 • Contact details captured: 2,368 (56% new contacts) • Total revenues: 827K EUR • Repurchase rate: 48% 9
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Completed Acquisition Of YOOX NET-A-PORTER And Creation Of New LuxExperience Group As Global Leader in Digital Luxury LuxExperience as newly combined group • After the successful acquisition of YOOX NET-A-PORTER, MYT Netherlands Parent B.V. has been renamed to “LuxExperience B.V.” and continues to be listed on the New York Stock Exchange (NYSE) with the trade name “LuxExperience” and a new ticker symbol of “LUXE” • With combined revenue around €3bn, LuxExperience is the leading global multi-brand digital luxury group that creates communities for true luxury enthusiasts and desirability through unique digital and physical experiences • The medium-term ambition is to reach €4bn in net sales and 7% to 9% in adjusted EBITDA margin • Introduction of new senior leadership team with shared group-level functions and dedicated management teams for Mytheresa, NET-A-PORTER, MR PORTER, YOOX and The OUTNET, mirroring the customer-focused strategy of the combined companies 10
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Unique Events & Experiences For Top Customers Of Mytheresa Across The World In Q3 FY25 41% Style Suites: shopping events with personal shopping Money can‘t buy experiences Singapore (02/27-28) TC event Dusseldorf (03/26-27) Hong Kong (03/27-28) TC event New York (03/28) TC event Venice (01/30-31) TC event Zell am See (01/31 & 02/01) TC event TC event Shanghai (02/20) TC event St Moritz (02/19-21) TC event London (02/25) TC event TC event Paris (03/07) Venice (03/20-21) TC event Houston (01/28) TC event Washington DC (03/25) TC dinner New York (02/06) NYFW industry event at Temple Bar New York (03/11) TC event New York (04/02) TC Lunch New York (04/05) TC event San Francisco (04/08 - 09) TC event Austin (04/24) Miami (04/29) TC event Paris (03/08) Aspen (02/13-14 - 03/02) New York (02/05) TC event Venice (02/22-24) TC event Milan (04/2-3) TC event Paris (04/15-16) TC event Beijing (03/12) TC event PFW industry event at Bar du Bristol Paris (01/28) PFW dinner with Christopher Esber A Texan experience with Pucci 2-week Pop-Up Naples (04/29-30) 2-day experience with Kiton Paris (03/07) TC event 11
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Expansion Of Mytheresa’s Partnership With Prada To Global Distribution Rights Including The US Global Distribution • Expansion of successful partnership with Prada to global distribution of the womenswear, menswear and lifestyle collections, doubling the reach and revenue potential • Initially available only to Mytheresa customers in Europe, all customers in the US, Canada, Middle East und APAC can now also benefit from the partnership • The launch was celebrated with a dedicated editorial story photographed by Jorin Koers and featuring models Sara Blomqvist and Kim Artur 12
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High-End Luxury Brand Collaborations In Q3 FY25 Underpinning Mytheresa’s Industry Leading Luxury Position 13 LOEWE Exclusive Pre-Launch of the Etro SS25 Collection for WW, only available at Mytheresa. TOTEME LOEWE Exclusive Pre-Launch of the Toteme T- Lock Clutch bags for WW, only available at Mytheresa. Launch of the new-season Saint Laurent collection for WW, feat. exclusive styles, only available at Mytheresa. Exclusive Pre-Launch of the Manolo Blahnik Capsule Collection for WW and MW, only available at Mytheresa. JIMMY CHOO SAINT LAURENT ETRO BALENCIAGA Launch of the new-season Balenciaga for WW, feat. exclusive styles, only available at Mytheresa. Launch of the Exclusive Mindfully Created Jimmy Choo collection for WW, only available at Mytheresa. Launch of the Exclusive Loewe Runway collection for WW and MW, only available at Mytheresa. Launch of Exclusive Loewe Lunar New Year Collection for WW, only available at Mytheresa. MANOLO BLAHNIK
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Mytheresa Customer Cohorts Acquired in Q4 FY24 Show Stable Repurchase Rates Nine Months Later In Q3 FY25 Vs. Q4 FY23 Cohorts New Customer Cohort Month Q4 June April May FebruaryJanuary March Percent of Customer Repurchasing in Q3 (after 9 months) Q4 FY23 Q4 FY24 14
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Excellent Growth of Mytheresa’s GMV Per Top Customer Underlining Resilience Of Top Customers To Macro Headwinds 15 Growth Q3 FY25 vs. Q3 FY24 GMV1,2 Growth Q3 FY25 vs. Q3 FY24 GMV1,2 Spend per Customer +17.9% +8.9% Notes: 1 “Gross Merchandise Value” (“GMV”) is an operative measure and means the total Euro value of orders processed. GMV is inclus ive of product value, shipping and duty. It is net of returns, value added taxes and cancellations. GMV does not represent revenu e earned by us, although GMV and revenue are correlated. 2 Based on BI figures +7.8% +4.1% Top Customers All Customers
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Mytheresa’s Business Model With Consistent Performance Despite Challenging Macro-Environment 16 Q3 FY24 Q3 FY25 Operational Indicators +7.0% -2.9 pp +20.2% +5.4 pp AOV Womenswear In € Return Rate Womenswear In % CAC In € NPS In % Financial Indicators1 Gross Profit Margin Shipping & Payment Cost Margin2 Marketing Cost Margin SG&A Margin3 +1.4 pp -1.3 pp +1.0 pp +0.8 pp Notes: 1 Gross Profit Margin is calculated in relation to Net Sales. Shipping & Payment Cost Margin, Marketing Cost Margin and SG&A Margin is calculated in relation to GMV 2 Adjusted to exclude other transaction-related, certain legal and other expenses 3 Adjusted to exclude other transaction-related, certain legal and other expenses and share -based compensation
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Financial Highlights Q3 FY25
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Profitable Growth Of Mytheresa On All Earnings Lines Notes: 1 Represents the three months ended March 31, 2025 2 Represents the nine months ended March 31, 2025 3 As % of Net Sales 4 Adjusted to exclude other transaction-related, certain legal and other expenses and share-based compensation 18 Q3 FY251 YoY GROWTH Gross Merchandise Value (GMV) (€MM) 261.3 3.8% LTM Active Customers ('000) 837 (2.9%) LTM Total Orders Shipped ('000) 2,055 (0.5%) Net Sales (€MM) 242.5 3.8% Gross Profit Margin3 44.8% 140bps Adjusted EBITDA4 (€MM) 9.3 5.5% Adjusted EBITDA Margin3,4 3.9% 10bps Adjusted Operating Income4 (€MM) 5.5 9.7% Adjusted Operating Income Margin3,4 2.3% 20bps Adjusted Net Income4 (€MM) 5.4 42.7% Adjusted Net Income Margin3,4 2.2% 60bps FYTD 252 YoY GROWTH 722.6 7.2% 837 (2.9%) 2,055 (0.5%) 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
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Mytheresa‘s Solid Growth In Tough Market Environment Notes: 1 Represents the three months ended March 31, 2025 2 Represents the nine months ended March 31, 2025 (€MM) Gross Merchandise Value (GMV) 19 251.9 261.3 Q3 FY24 Q3 FY25 Q3 FY251 YoY GROWTH GMV (€MM) 261.3 3.8% LTM Active Customers ('000) 837 (2.9%) LTM Total Orders Shipped ('000) 2,055 (0.5%) Net Sales (€MM) 242.5 3.8% FYTD 252 YoY GROWTH 722.6 7.2% 837 (2.9%) 2,055 (0.5%) 667.2 8.0% 674.3 722.6 FYTD 24 FYTD 25 7.2% FYTD 25 YoY Growth 3.8% Q3 FY25 YoY Growth
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Mytheresa’s Continued Strong Increase in Gross Profit Margin Notes: 1 Represents the three months ended March 31, 2025 2 Represents the nine months ended March 31, 2025 3 As % of Net Sales 4 As % of GMV 5 Adjusted to exclude other transaction-related, certain legal and other expenses 6 Adjusted to exclude other transaction-related, certain legal and other expenses and share -based compensation (€MM) Gross Profit 20 Q3 FY251 YoY GROWTH Gross Profit (€MM) 108.5 7.2% Gross Profit Margin3 44.8% 140bps Adj. Shipping & Payment4,5 14.0% (130bps) Marketing4 10.2% 100bps Adjusted SG&A4,6 13.0% 80bps FYTD 252 YoY GROWTH 310.8 11.5% 46.6% 150bps 13.8% (90bps) 11.3% 90bps 13.6% (40bps) 101.3 108.5 Q3 FY24 Q3 FY25 278.7 310.8 FYTD 24 FYTD 25 7.2% Q3 FY25 YoY Growth 11.5% FYTD 25 YoY Growth
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Mytheresa’s Continued Growing Profitability Levels In Q3 FY25 8.9 9.3 15.2 28.4 Q3 FY24 Q3 FY25 FYTD 24 FYTD 25 (€MM) 3.8% 4.3%% Margin 2.5%3.9% Adjusted EBITDA4 Adjusted Operating Income4 5.0 5.5 4.1 16.6 Q3 FY24 Q3 FY25 FYTD 24 FYTD 25 (€MM) 2.1% 2.5%% Margin 0.7%2.3% Q3 FY251 YoY GROWTH Adjusted EBITDA4 (€MM) 9.3 5.5% Adjusted EBITDA Margin3,4 3.9% 10bps Adjusted Operating Income4 (€MM) 5.5 9.7% Adjusted Operating Income Margin3,4 2.3% 20bps Adjusted Net Income4 (€MM) 5.4 42.7% FYTD 252 YoY GROWTH 28.4 86.7% 4.3% 180bps 16.6 303.2% 2.5% 180bps 21.4 572.9% 21 Notes: 1 Represents the three months ended March 31, 2025 2 Represents the nine months ended March 31, 2025 3 As a % of Net Sales 4 Adjusted to exclude other transaction-related, certain legal and other expenses and share-based compensation
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Full FY25 Guidance For The Legacy Mytheresa Standalone Business 22 Notes: 1 Adjusted to exclude other transaction-related, certain legal and other expenses and share -based compensation Top- and Bottomline Guidance for Full FY25Assumptions for Full FY25 2 Continued excellent Top Customer growth with increasing Net Sales per Top Customer and continued overall growth of the industry’s most attractive active customer base Continued above market growth in GMV and Net Sales capturing market share1 4 New tariff situation and impact remains unclear GMV and Net Sales growth at the lower end of our given guidance in the range of 7% to 13% 1 Adjusted EBITDA1 margin in the range of 3% and 5%2 3 Improving Gross Profit Margin and Adjusted EBITDA profitability
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Mytheresa Confirms Its Medium-Term Growth and Margin Targets Due To Outstanding Business Model Resilience 23 Medium-Term Targets1 15% - 20% with stable department AOVs and continued Active Customer Growth Increasing Gross Margin Continued focus on full price with decreasing promotional environment Increasing margin due to increasing gross margin and slightly decreasing cost ratios Stable cost ratio Stable operative cost ratio Stable cost ratio Continued efficiency in Online Marketing and shift to Top Customer activities Slightly decreasing cost ratio Due to Cost leverage (MM) GMV % Growth Gross Profit Margin as % of Net Sales Adjusted EBITDA Margin4 as % of Net Sales Shipping and Payment Costs as % of GMV Marketing Expenses as % of GMV SG&A as % of GMV Net Sales % Growth FY242 Actuals 914 7% 45.7% 3.1%3 14.7% 10.6% 14.0%3 841 10% Notes: 1 These are not projections; they are goals / targets and are forward -looking, subject to significant business, economic, regula tory 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 t he "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 Fiscal year ends June 30 3 Adjusted to exclude other transaction-related, certain legal and other expenses and share -based compensation 4 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
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LuxExperience Offers a Unique Investment Opportunity 24 Outstanding Market Fundamentals Given Resilience of Luxury and High Growth Potential of Online A Unique and Differentiated Value Proposition Recognized Both by Brand Partners and Customers A Highly Loyal and Engaged Luxury Customer Base Delivering Excellent Economics A Unique Business Model Achieving Excellent Business KPIs as well as Strong Growth and Profitability
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Appendix
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Mytheresa – Reconciliation to IFRS Metrics 26 (€MM) Full FY24 Q3 FY24 Q3 FY25 Net Income to Adjusted EBITDA: Net Income (24.9) (3.3) (5.5) Finance Expenses. Net 4.8 1.3 1.0 Income Tax Expense (1.8) (0.1) (0.9) Depreciation & Amortization 15.2 3.9 3.9 EBITDA (6.7) 1.8 (1.5) Other transaction-related. certain legal and other expenses1 14.1 4.1 7.4 Share-based Compensation2 18.5 3.0 3.5 Adjusted EBITDA 25.8 8.9 9.3 Adjusted EBITDA Margin reconciliation Net Sales 840.9 233.6 242.5 Adjusted EBITDA Margin 3.1% 3.8% 3.9% 1Other transaction-related, certain legal and other expenses represent (i) professional fees, including advisory and accounting fees, related to potential & completed transactions, (ii) certain legal and other expenses incurred outside the ordinary course of our business, (iii) other non-recurring expenses incurred in connection with the costs of closing distribution center in Heimstetten, Germany and (iv) finance costs in the form of RCF amendment fees (applicable only to adjusted net income reconciliation). 2 Certain members of management and supervisory board members have been granted share-based compensation for which the share-based compensation expense will be recognized upon defined vesting schedules in the future periods. Our methodology to adjust for share-based compensation and subsequently calculate Adjusted EBITDA, Adjusted Operating income and Adjusted Net income includes both share-based compensation expense connected to the IPO and share-based compensation expense recognized in connection with grants under the Long-Term Incentive Plan (LTI) for the LuxExperience Group key management members and share-based compensation expense due to Supervisory Board Members Plans. We do not consider share-based compensation expense to be indicative of our core operating performance. For further information about how we calculate these measures and limitations of its use, see our annual report on Form 20-F filed on September 12, 2024.
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Mytheresa – Reconciliation to IFRS Metrics 27 (€MM) Full FY24 Q3 FY24 Q3 FY25 Net Income to Adjusted Operating Income: Net Income (24.9) (3.3) (5.5) Finance Expenses. Net 4.8 1.3 1.0 Income Tax Expense (1.8) (0.1) 0.9 Operating Income (22.0) (2.1) (5.4) Other transaction-related. certain legal and other expenses1 14.1 4.1 7.4 Share-based Compensation2 18.5 3.0 3.5 Adjusted Operating Income 10.6 5.0 5.5 Adjusted Operating Income Margin reconciliation Net Sales 840.9 233.6 242.5 Adjusted Operating Income Margin 1.3% 2.1% 2.3%
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Mytheresa – Reconciliation to IFRS Metrics (€MM) Full FY24 Q3 FY24 Q3 FY25 Net Income to Adjusted Net Income: Net Income (24.9) (3.3) (5.5) Other transaction-related, certain legal and other expenses1 14.1 4.1 7.4 Share-based Compensation2 18.5 3.0 3.5 Adjusted Net Income 7.7 3.8 5.4 Adjusted Net Income Margin Reconciliation Net Sales 840.9 233.6 242.5 Adjusted Net Income Margin 0.9% 1.6% 2.2% 28
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Mytheresa – Reconciliation to IFRS Metrics (€MM) Full FY24 Q3 FY24 Q3 FY25 SG&A to Adjusted SG&A: SG&A (160.6) (37.1) (44.9) Other transaction-related. certain legal and other expenses1 14.1 4.1 7.4 Share-based Compensation2 18.5 3.0 3.5 Adjusted SG&A (128.0) (30.8) (34.0) 29