MYT Netherlands Parent B.V. (NYSE:MYTE) ("Mytheresa" or the "Company"), today announced preliminary unaudited financial results for the third quarter ended March 31, 2024, and confirmed the guidance for the full fiscal year 2024 ending June 30 at the lower end of the given ranges. The Company also announced the date for the release of its third quarter fiscal year 2024 financial results.
Mytheresa posted double-digit topline growth and improved profitability on adjusted EBITDA level as well as adjusted Operating Income level in the third quarter of fiscal year 2024 as compared to the prior year period. The strong financial results in a clearly consolidating market environment underline the strong positioning of Mytheresa and its robust business model as well as signifies strong market share gains.
Michael Kliger, Chief Executive Officer of Mytheresa, said: "We are extremely pleased with the strong performance in a rapidly consolidating marketplace. The results underscore that Mytheresa is not just a luxury e-commerce platform. We build a community for luxury enthusiasts and create desirability through digital and physical experiences. This makes us the winner in an otherwise still tough market environment."
PRELIMINARY THIRD QUARTER FISCAL YEAR 2024 RESULTS
In specific, Mytheresa expects for the third quarter ended March 31, 2024:
- GMV in the range of €245 million to €255 million, an accelerated increase of 12% to 15% as compared to the prior year quarter
- Net Sales in the range of €230 million to €235 million, an accelerated increase of 15% to 18% as compared to the prior year quarter
- Adjusted EBITDA Margin of 3.0% to 4.0% in the third quarter a significant improvement to the 1.6% adjusted EBITDA Margin in the third quarter of FY 2023
- Adjusted Operating Income Margin of 1.5% to 2.5% compared to 0.1% in the third quarter of FY 2023
CONFIRMED BUSINESS OUTLOOK FOR THE FULL FISCAL YEAR ENDING JUNE 30, 2024 AT THE LOWER END OF THE RANGES:
- GMV and Net Sales growth in the range of 8% to 13%
- Gross Profit growth in the range of 8% to 13%
- Adjusted EBITDA margin in the range of 3% to 5%