The following is a summary of the MYT Netherlands Parent B.V. (MYTE) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Mytheresa saw Q3 FY 2024 net sales growth of 17.6% reaching EUR 233.9 million, while GMV growth stood at 14.7%, hitting EUR 252.2 million.

• The gross profit margin was 43.4% with a gross profit of EUR 101.6 million, marking a 12% increase.

• Marketing expenses and cost ratio decreased to EUR 23.1 million and 9.2% respectively.

• Adjusted EBITDA increased significantly from EUR 3.2 million in Q3 FY 2023 to EUR 9.2 million in Q3 FY 2024.

• Operating cash flow improved, and a new multi-year revolving credit facility agreement of EUR75 million was secured to support their growth strategy.

• Inventory growth was restrained, and the company confirmed its FY 2024 GMV net sales growth guidance of between 8% to 13% and an adjusted EBITDA margin of 3% to 5%.

Business Progress:

• Top customer base and the average spend per top customers grew by 17% and 3.3% respectively, with an 8% increase in average order value to a new high of EUR 692.

• Multiple exclusive luxury brand collections were launched, along with new retail media services.

• The company continued its ramp-up at the Leipzig distribution center, handling over 60% of all customer orders by end of March.

• The company sees compelling growth in the US market, representing 22% of the business, driven by high-income individuals across key regions.

• MYTE aims for double-digit annual growth in the high-teens or low-20s including an 8% adjusted EBITDA margin in its pursuit to become a multi-billion business in the medium term.

• The company managed to reduce its Days Inventory Outstanding from 310 days to 280 days, moving closer to their target of 260 days.

More details: MYT Netherlands IR

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