Mytheresa records GMV and sales growth in Q3

MYT Netherlands Parent B.V. (Mytheresa) reported GMV growth of 17.8 percent to 219.8 million euros in the third quarter compared to the prior year period.

Net sales for the quarter increased 17.3 percent to 198.9 million euros. Gross profit margin was 45.6 percent compared to 48.8 percent in the prior year period.

Commenting on the company’s performance, Michael Kliger, chief executive officer of Mytheresa, said: “We are very satisfied with the global growth in our business producing industry-leading 18 percent top-line expansion. Our margin has been impacted by the strong promotional intensity of many competitors in Q3 but we delivered profitable growth.”

The company’s adjusted EBITDA reached 3.2 million euros, representing an adjusted EBITDA margin of 1.6 percent, while year-to-date adjusted EBITDA reached 33.6 million euros, representing an adjusted EBITDA margin of 6 percent.

The company also recorded positive adjusted operating income of 0.1 million euros and adjusted net income of 1.4 million euros.

For the full fiscal year ending June 30, 2023, the company expects GMV in the range of 845 million euros to 860 million euros, representing 13 percent to 15 percent growth, net sales in the range of 750 million euros to 765 million euros, representing 9 percent to 11 percent growth.

The company anticipates gross profit in the range of 380 million euros to 386 million euros, representing 7 percent to 9 percent growth and adjusted EBITDA in the range of 34 to 43 million euros and an adjusted EBITDA margin between 4.5 percent and 5.5 percent.