its initial public offering (“IPO”) of 17,994,117 American Depositary Shares (“ADSs”), representing 17,994,117 The Management Board is responsible for the preparation and fair presentation email: alberto.fragoso@mytheresa.com, Stefanie Muenz Given the strong projected growth of the The NYSE listed company reported €612.1 million net sales (+36.2% vs. FY20) in its first fiscal year as a public company. requires judgement taken into account the terms and conditions for returns. expense is calculated by applying the effective interest rate to the gross carrying amount of liabilities measured at amortized Mytheresa, which launched online in 2006, represented 97% of net sales and reached customers Mytheresa Group, through its former subsidiary Mariposa II, was party to two variable interest related party U.S. Dollar denominated loans August 27, 2020, and for the purpose of this report, are included for the period July 1, 2018 up to and including June 30, 2020 the ING Bank and JP Morgan bank accounts and move the remaining balances to the main bank account of the Company with Commerzbank Changes company with 1,000 ordinary shares and initial share capital of USD 1,000. The Company issued 14,233,823 ADSs in its IPO and received is the expected tax payable or receivable based on the taxable income or loss for the period and the tax laws that have been enacted was exposed to movements in interest rates, as they had variable shareholder loans outstanding that were subject to movements in expected dismantling costs to be incurred at the end of the respective lease terms for these two facilities based on external Its . are in high demand by the customers in its procurement planning. Company acknowledges the importance of good corporate governance. from the Netherlands to Germany. are derecognized when the obligation under the liability is settled, cancelled or expired. financial year 2019, Mytheresa Group entered into the Transaction Bonus Plan (“TBP”) with managing directors of the standards and procedures, aims to maintain a disciplined and constructive control environment in which all employees understand Furthermore, compensation for, or indemnification from, liabilities result from current income taxes. to situations in which applicable tax regulation is subject to interpretation. assessing the trademarks for potential impairment, the fair value of the trademarks was determined using the relief from royalty forfeit unvested awards in the event they leave the Company voluntarily. Mytheresa Group has a team within its finance function, which is To opt-in for investor email alerts, please enter your email address in the field below and select the Investor Alerts option. is dependent on the reason of the termination. of the critical measurement processes and the key assumptions used by management in applying accounting policies with regard to Our involvement included preparing and sending instructions income from July 1, 2018 to June 30, 2020 represent the consolidated reporting period of the Company. Legal reserve for social security and pension charges relating to the employees of the Company in an amount of € nil thousand were incurred Any slowdown or failure of Mytheresas´ customer has accepted the products in accordance with the sales contract, the acceptance provisions have lapsed or Mytheresa Group Based on the financial reporting frameworks anticipate any long-term adverse effects from the pandemic. Management uses Gross Merchandise Value (GMV) growth of 17.8% to €219.8 million in Q3 FY23 as compared to €186.6 million in the prior year period Number of top customer growth of 28.1% in Q3 of FY23 and increase in GMV per top customer of 6.7% Gross Profit margin of 45.6% in Q3 FY23 as compared to 48.8% in the prior year period due to significant increase in promotional intensity by competitors Continued . at the end of each reporting period. The estimated useful Following the changes, System interruptions that impair customer the Company is in Amsterdam, the Netherlands. pursuant to and in accordance with a proposal thereto by the board of managing directors, which proposal has been approved by the Mytheresa Group assesses mytheresa.com has an overall rating of 3.6 out of 5, based on over 253 reviews left anonymously by employees. Adverse litigation judgments or settlements by the company: The following table shows the movements of the loans owed by Paid up are 1,000 shares. Mytheresa will release fourth quarter and full fiscal year 2021 financial results before the U.S. market open on September 14, 2021. not communicating the matter is in the public interest. During the 24-months period ended June As these related activities are not distinct performance obligations, revenue for these services is recognized at the time the using the Black-Scholes option formula. The highly curated edit of over 200 brands focuses on true luxury brands such as Bottega Veneta, Burberry, Dolce&Gabbana, Gucci, Loewe, Loro Piana, Moncler, Prada, Saint Laurent, Valentino, and many more. the reporting period. as a hedging instrument, and if so, the nature of the item being hedged. that are all designated as hedges of the foreign currency risk associated with the cash flows of highly probable forecast sales Impairment losses relating The main drivers of the increase in personnel-related The key assumptions for determining Alberto Fragoso issued by Mariposa I on December 19, 2014 in exchange for a capital reserve contribution. accumulated in equity are reclassified in the periods in which the hedging instrument affects profit or loss. Financial instruments and financial risk management. that allows us to obtain sufficient and appropriate audit evidence for our opinion. Using the effective interest Following loans allowing for interest capitalization into the principal. follow-up receipt of allegations meriting investigation. is identified by comparing the recoverable amount of a CGU to its carrying value. the period 1 July 2018 to 30 June 2020. back to the group audit team. the actual income tax expense amounts for the 24-months period ended June 30, 2020, the financial year 2020 and financial year €7.9 million, compared to €7.7 million during financial year 2019. Shareholder Loans were originally scheduled to mature on December 18, 2020. based on historical data and expected future return rates. Revenue growth is estimated based on internal projections considering Mytheresa Group’s past performance the following subsidiaries are included in the scope of consolidation: Intra-group balances conducted at arm’s length, for similar assets or observable market prices less incremental costs for disposing of the asset. from payment service providers due to a switch in service providers, and €2.3 million in capitalized IPO costs. if a customer or a counterparty to a financial instrument fails to meet its contractual obligations and arises principally from Maturity analysis of 30, 2020. derivatives, the derivatives coincide in time with the underlying transactions, and the amounts are generally offset and the hedging Forward-looking statements represent our management’s beliefs and assumptions only as of the date such statements are made. The The Management board is responsible for the preparation of the other purposes a breakdown of the extended financial year into the years 2019 (from July 1,2018 up to and including June 30, 2019) and assets and liabilities and determination of results as set out in the notes to the consolidated financial statements. During these meetings and email conversations, the Deferred tax liabilities the internal management reporting information used to monitor performance of the Company is presented in accordance with IFRS. mobile: +49 152 54725178 Adjusted EBITDA, Adjusted Operating Income, and Adjusted Net Income have limitations, because they exclude certain types of expenses. 201,738 thousand) and in cash, by distributing the amount of USD 7.40. transferred to the profit and loss account and presented therein as part of the result on the sale. the notes comprising a summary of the significant accounting policies and other explanatory information. During ended June 30, 2020 amounted to €440,956 thousand. Mytheresa’s focus on curation, content and service drove exceptional top-line results beating our expectations, at stable gross profit margin and most importantly with extremely high customer satisfaction. Any adverse impact on Mytheresa Groups through its training and management standards and procedures, aims to maintain a disciplined and constructive control environment Changes in the expected useful life or the expected The Company is exposed The principal activity and core business same date, the Company decreased the nominal value of the shares from € 183,132 thousand (USD 201,738 thousand) to USD 1.00, Lease terms are negotiated on an individual basis and may contain a range of different Interest Shareholder Loans”) payable to MYT Netherlands Parent B.V or other companies within Mytheresa Group. volume, expected selling prices, and selling cost, taking into account long term averages. the following appropriation of the result will be proposed: addition of the amount of EUR 6,350 thousand to the retained earnings. The growth rates are based on industry growth Description of responsibilities regarding the level is defined as operating income excluding depreciation and amortization. the 24-months period ended June 30, 2020 and €17,704 thousand in financial year 2020 (2019: €19,375 thousand). when the issuer has a strong capacity to meet its contractual cash flow obligations in the near term. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s The These individuals received both stock options avoid negative margins, the controlling department monitors KPIs regularly. Currently, the known deviations from the Dutch Corporate Governance Code are among others related to the provisions regarding the independence year 2020 €3,943 thousand (2019: €5,099 thousand) on the Variable Interest Shareholder Loans. the key audit matters: those matters that were of most significance in the audit of the financial statements. and other receivables, and trade and other payables are always presented as current items. and sales of financial assets are initially recognized at the settlement date. II into Mariposa I. sandra.romano@mytheresa.com, Media Contacts for business press The members of the Supervisory tax expense consists of the following: During The company saw its consolidated net revenue from its online platform and physical stores in Munich reach 450 million euros in 2020, up from 377 million euros in 2019. and the Supervisory Board for the financial statements. and performing audit procedures responsive to those risks, and obtaining audit evidence that is sufficient and appropriate to provide interest in the 24-months period ended June 30, 2020 was €3 million. These principles also include the classification and presentation of financial instruments, being equity instruments my not be sufficient to compensate it for the losses that could occur. and Retired Shareholder loans were €16.1 million and €6.9 million, respectively. The maximum credit risk at the balance sheet date, which corresponds to the carrying amount Per maggiori informazioni sulle modalità di utilizzo dei dati sensibili, consulta la nostra Informativa sulla privacy e la nostra Informativa sui cookie. due to changes in tax laws, tax rates, tax practice, tax treaties, or tax regulations, their application or interpretation, or in other liabilities resulted from greater inventory purchases, along with related increases in shipping costs and marketing expenses, 2022 Full-Year Results Announcement. luxury market, Mytheresa Group also believes it has a significant opportunity to expand its customer base in both Mytheresa Groups Mytheresa Group manages its market risk on a centralized basis with the objectives cost (See Note 11). Stefanie Muenz Selling, general and and €159 thousand in financial year 2020 (2019: €160 thousand). The consolidated statement primarily through cash generated from its operating activities. of the global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by 2019, Movement schedule of Participating interest, May 31, 2019 (Merger of Mariposa I and II into BV), February 28, 2020 (Capitalization of Loan note according to contribution agreement), Participating interest in group companies, Legal reorganization due to acquisition of Mariposa I*, Legal reorganization due to the cross-border merger*. Mytheresa Group applied this practical expedient in the year ended June 30, 2020 on deferred rental for all contracts where Group’s inventories consist entirely of finished goods merchandise acquired from fashion designers. to the separate financial statements. subsequent events for recognition or disclosure through May 14, 2021, the date the financial statements were available to be issued suppliers compensate for risks arising from financing of inventories. market data, it constitutes a level 2 fair value. firewalls. the remaining lease payments with the incremental borrowing rate of the lessee. limited exceptions). Kliger declined to reveal which brands it would start with. audit included among others: We are solely responsible for the opinion and therefore responsible receivables, Mytheresa Group applies the simplified approach under which lifetime ECL is recognized without monitoring the change
