Mytheresa reports significant revenue increase and reduced loss

Munich-based luxury fashion retailer Mytheresa achieved double-digit revenue growth in the second quarter of its fiscal year 2024/25. The company also improved its earnings.

CEO Michael Kliger expressed strong satisfaction with the latest figures, which the listed parent company MYT Netherlands Parent B.V. presented on Tuesday. “We are very pleased with our results in a continuing volatile macroeconomic environment,” he stated, noting that the retailer maintained the “positive momentum” of previous quarters and made “substantial progress” in its financial results in the first half of the year.

Quarterly revenue increases by approximately 13 Percent

In the period from October to December, Mytheresa’s revenue amounted to €223.0 million. This represents a 13.4 percent increase compared to the same quarter of the previous year. The company owes the significant increase not least to above-average growth in the US (+17.6 percent). Gross Merchandise Value (GMV) increased by 11.9 percent to €244.7 million.

Thanks to the strong revenue growth and a higher gross margin, adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA), excluding special items, more than doubled to €16.2 million compared to €7.5 million in the prior-year quarter. The reported net loss was reduced from €5.8 million to €4.7 million.

Acquisition of YNAP expected close within the coming months

For the full fiscal year, management now expects increases in revenue and GMV of seven to 13 percent, respectively. The adjusted EBITDA margin, excluding special items, is expected to reach three to five percent.

However, the company is facing significant changes. The acquisition of online fashion retailer Yoox Net-a-Porter Group (YNAP), agreed upon last October, is expected to be completed during the first half of the year. Mytheresa recently announced that the parent company will be renamed LuxExperience B.V. after the acquisition.