Myt Netherlands Adr ( (MYTE) ) has released its Q1 earnings. Here is a breakdown of the information Myt Netherlands Adr presented to its investors.
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Mytheresa, a prominent luxury multi-brand digital platform, is renowned for offering high-end fashion and lifestyle products to a global clientele. Recently, Mytheresa reported a robust first quarter for the fiscal year 2025, marking an 8% growth in net sales and a notable improvement in profitability metrics compared to the previous year.
Key financial highlights from the quarter include an increase in average order value by 9%, setting a new record at €720, and a gross margin improvement of 150 basis points to 43.9%. The company’s performance in the US market was particularly strong, with a 14% growth, which now constitutes 20% of its net sales share. Additionally, the adjusted EBITDA margin improved by 200 basis points, reaching 1.4% from the negative margin in the prior year.
Another significant development is Mytheresa’s acquisition of YOOX Net-A-Porter, a strategic move aimed at enhancing its position as a leading global digital luxury group. This acquisition is expected to close in the first half of 2025, pending regulatory approvals, and will involve issuing new shares to Richemont Italia Holding in exchange for YNAP.
Looking ahead, Mytheresa maintains an optimistic outlook, projecting continued growth in GMV and net sales between 7% and 13% for the fiscal year ending June 2025. The company aims to achieve an adjusted EBITDA margin of between 3% and 5%, underscoring its focus on sustaining profitable growth amid evolving market conditions.
