Despite “solid growth” in the third quarter, luxury online dealer Mytheresa looks more careful the current financial year.
Mythheresa revenues rose by 3.8 percent to 242.5 million euros compared to the same period in the previous year. The gross -like volume also grew by 3.8 percent to EUR 261.3 million.
“The results of the third quarter once again show the strength of the Mytheresa business model,” said Managing Director Michael Kliger in a message from the owner-Holding Luxexperience BV on Wednesday.
More caution in the revenue forecast
Even if the luxury dealer emphasizes his “solid growth” in the three months until the 31st Marz, it is not possible to look more carefully at his sales forecast for the financial year. Sales growth has slowed down compared to the past quarters.
In view of the “uncertainties in relation to tariffs” and its effects on the mood of the clientele, Mythheresa expects the growth of sales and gross -like volume at the lower end of the forecast of 7 to 13 percent for the entire financial year, which ends on June 30, 2025.
Focus on profitability
However, the Munich-based company maintains the forecast for adjusted EBITDA margin in the range of 3 to 5 percent. In the third quarter, this was 3.9 percent after the adjusted result before interest, taxes and depreciation (EBITDA) was able to increase 5.5 percent to 9.3 million euros.
The bottom line was that the losses of Mytheresa widened slightly. In the third quarter they were 5.5 million euros, compared to 3.3 million euros in the previous year. Nevertheless, the company is satisfied with a difficult market.
“The solid GMV growth, the higher expenses of the top customers, the continued expansion of product margins and the strong profitability show the health and resilience of the Mytheresa business despite the macroeconomic headwinds,” sums up Kliger.
Takeover effect
From the upcoming fourth quarter, Mythersa owner Luxexperience will probably show an additional net turnover of 300 to 350 million euros after the YooX Net-A-Porter acquisition. The new units will also lead to an adjusted EBITDA loss of 20 to 30 million euros for the independent Mytheresa business in the current financial year, which ends on June 30, 2025.