Mytheresa, an online luxury fashion retailer based in Munich (Germany), has reported sales of €223.0 million (~$232.97 million) in the second quarter (Q2) of fiscal 2025 (FY25) ended December 31, 2024, an increase of 13.4 per cent year-over-year (YoY).

The company’s gross merchandise value (GMV) stood at €244.7 million, reflecting an 11.9 per cent increase compared to €218.7 million in the same quarter of FY24. The net sales of the company rose 13.4 per cent YoY to €223.0 million from €196.6 million, while gross profit increased 16.0 per cent to €113.6 million from €97.9 million.

The gross profit margin of the company was 50.9 per cent, an increase of 110 basis points (bps). The platform’s adjusted EBITDA stood at €16.2 million and adjusted EBITDA margin of 7.3 per cent in the first half (H1) of FY25, and adjusted EBITDA margin at 4.5 per cent YoY.

Despite improvements in revenue and profitability, the company posted an operating loss of €2.5 million, improving from a €4.8 million loss in the prior-year period. Net loss for the quarter stood at €4.7 million, compared to €5.8 million in Q3 FY 2023-24. On an adjusted basis, EBITDA rose 114.8 per cent to €16.2 million, while adjusted net income surged 299.6 per cent to €10.6 million.

Positive adjusted operating income and adjusted net income margin of 5.5 per cent and 4.8 per cent, respectively in Q2 FY25. The inventory decreased by 1.3 per cent YoY to €404.6 million in Q2 FY25. Basic and diluted earnings per share (EPS) stood at negative €0.07 and €0.05, respectively.

“We are very pleased with our results in a still volatile macro environment. With strong, accelerating revenue growth of 13.4 per cent and positive, significantly improved adjusted EBITDA margin in the second quarter, we continued our very positive business momentum from the previous quarters and have achieved a significant step up in financial performance in H1 of fiscal year 2025 compared to H1 of fiscal year 2024,” said Michael Kliger, chief executive officer of Mytheresa.

Half yearly (H1) financial

In H1, Mytheresa recorded GMV of €461.2 million, a 9.2 per cent increase from €422.5 million in the same period of last fiscal. The net sales of the company grew 10.6 per cent YoY to €424.7 million (~$443.1 million), while gross profit increased 14.0 per cent YoY to €202.2 million.

However, the company reported an operating loss of €32.6 million, a decline from the €18.2 million loss recorded in H1 FY 2023-24. The net loss widened to €28.2 million from €18.0 million in the same period last year. On an adjusted basis, EBITDA increased 199.6 per cent to €19.1 million, while adjusted net income surged to €16.0 million from a loss of €0.6 million in the previous year. For the six-month period, EPS was negative €0.21 compared to negative €0.32 in the prior period.

The weighted average ordinary shares outstanding were 86.8 million and 87.2 million, respectively, for both the quarterly and half-yearly periods.

Fibre2Fashion News Desk (SG)