UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

FORM 6-K

 

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO SECTION 13a-16 OR 15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

 

For the month of: November 2025

 

Commission File Number: 001-39880

 

LUXEXPERIENCE B.V.

(formerly MYT Netherlands Parent B.V.)
(Exact name of registrant as specified in its charter)

 

Einsteinring 9

85609 Aschheim/Munich

Germany

+49 89 127695-614

(Address of principal executive offices)

 

Indicate by check mark whether the registrant files or will file annualreports under cover of Form 20-F or Form 40-F.

 

Form20-F  x                 Form40-F ¨

 

 

 

 

 

 

OnNovember 19, 2025, LuxExperience B.V. expects to hold a conference call at 8:00 a.m. (Eastern Time) regarding its unaudited financialresults for the fiscal quarter ended September 30, 2025. A copy of the earnings press release is furnished herewith as Exhibit99.1.

 

A copy of the interim report for the first quarterof fiscal year 2026 is expected to be released after market close on November 19, 2025.

 

The information in this Form 6-K, including Exhibit99.1, furnished in this report is not deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, asamended, or otherwise subject to the liabilities of that section. Registration statements or other documents filed with the SEC shallnot incorporate this information by reference, except as otherwise expressly stated in such filing.

 

Exhibit
No.
  Description
     
99.1   Q1, FY 2026 Earnings Press Release

 

 

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934,the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

LuxExperience B.V.  
   
By: /s/ Dr. Martin Beer  
Name: Dr. Martin Beer  
Title: Chief Financial Officer  

 

Date: November 19, 2025

 

 

 

 

Exhibit 99.1

 

 

 

Q1 FY26 Results:

LuxExperiencereports strong results and improvements across all three segments;

Mytheresa clearly standing out with Net Sales Growth of +12% and AdjustedEBITDA more

than doubling in Q1 FY26

 

 

KEY HIGHLIGHTS FOR THE FIRST QUARTER ENDEDSEPTEMBER 30, 2025

 

·Outstanding GMV Growth for Luxury | Mytheresa of +13.5% vs. Q1 FY25 and Net Sales growth of +12.2%vs. Q1 FY25

 

·Exceptional customer economics across all segments vs. Q1 FY25: Luxury | Mytheresa +15.0% increasein GMV per top customer; Luxury | NAP & MRP increase in GMV per top customer of +4.0%; Off-price | YOOX increase in GMV per topcustomer of +4.7%

 

·Strong Increase of Average Order Value LTM across all segments vs. Q1 FY25: Luxury | Mytheresaof +10.7% to now €797; Luxury | NAP & MRP of +15.5% to now €836; Off-price | YOOX +18.0% to now €256

 

·Strong US Market Presence of LuxExperience with US Net Sales share of 31.6% of total business inQ1 FY26

 

·Significantly increased Adjusted EBITDA profitability for Luxury | Mytheresa with an Adjusted EBITDAmargin of 3.5%, up 210bps vs. Q1 FY25

 

·Transformation Plan for Group Well On Track: Cost-reduction actionstarted across all ex-YNAP businesses. Agreement signed for sale of assets powering THE OUTNET which is expected to close in Q1 CY26

 

·As Expected Only Moderate Top-line Decline of LuxExperience with -4.3% GMV and -4.2% Net Salesvs. Q1 FY25 on an illustrative basis at an Adjusted EBITDA margin of -5.0% in Q1 FY26

 

MUNICH,Germany (November 19, 2025) – LuxExperience B.V. (NYSE:LUXE) (the “Company”), today announcedits financial results for its first quarter of fiscal year 2026 ended September 30, 2025. The leading luxury multi-brand digitalplatform reported strong results and improvements across all three segments. Mytheresa demonstrated continued outstanding Net Sales growthand significantly increased Adjusted EBITDA profitability in the first quarter of fiscal year 2026. NET-A-PORTER and MR PORTER clearlyshow the first signs of the commercial turnaround while YOOX off-price Net Sales continued to decline as expected due to the focus onthe healthy core of the business.

 

MichaelKliger, Chief Executive Officer of LuxExperience, said, ”I am very pleased with the strongresults and improvements across all three segments. Mytheresa continues to demonstrate our unique ability to deliver strong growth andprofitability despite ongoing macro headwinds. NET-A-PORTER and MR PORTER clearly show signs of the commercial turnaround that will driverenewed growth and profitability after years of decline. In the off-price segment we follow the anticipated transformation and I am pleasedthat we have been off to a fast start here also.

 

Kliger continued, “LuxExperience is in theperfect position to benefit from the continued growth of digital luxury and the ongoing consolidation in the sector. We expect to becomethe one and only destination for luxury enthusiasts worldwide.”

 

 

 

 

 

LUXEXPERIENCEFINANCIAL HIGHLIGHTS FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025 (on an illustrative basis)

 

·GMV decline of -4.3% to €589.0 million in Q1 FY26 as compared to €615.3 million in the prior year period

 

·Net Sales decrease of -4.2% to €557.2 million as compared to €581.8 million in the prior year quarter

 

·Gross Profit Margin of 44.1%, increasing by +190bps

 

·SG&A expenses decreased by -8.2% from Q1 FY 25 to Q1 FY 26, also including capitalized expenses in PY

 

·AdjustedEBITDA of -€28.1 million with and Adjusted EBITDA margin of -5.0%

 

LUXURY| MYTHERESA FINANCIAL HIGHLIGHTS FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025

 

·GMV growth of +13.5% to €245.9 million in Q1 FY26 as compared to €216.6 million in the prior year period

 

·Net Sales increase of +12.2% year-over-year to €226.3 million as compared to €201.7 million in Q1 FY25

 

·Gross Profit margin of 44.6%, an increase of 70 BPs year-over-year

 

·Adjusted EBITDA of €7.9 million vs. €2.9 million in Q1 FY25 and an Adjusted EBITDA margin of 3.5% in Q1 FY26 as comparedto 1.4% in the prior year period

 

LUXURY| NAP & MRP FINANCIAL HIGHLIGHTS FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025 (on an illustrative basis)

 

·GMV decline of -10.8% to €224.5 million in Q1 FY26 as compared to €251.7 million in the prior year period

 

·Net Sales decrease of -10.8% year-over-year to €212.3 million as compared to €238.1 million in the prior year quarter

 

·Gross Profit Margin expansion of +120bps to 47.8% in Q1 FY26

 

·SG&A expenses decreased by -6.8% from Q4 of FY25 to Q1 FY26 and -9.7% from Q1 FY 25 to Q1 FY26, also including capitalized expenses in PY

 

·NegativeAdjusted EBITDA of -€14.6 million in Q1 FY26 with an Adjusted EBITDA margin of -6.9%

 

OFF-PRICE| YOOX FINANCIAL HIGHLIGHTS FOR THE FIRST QUARTER ENDED SEPTEMBER 30, 2025 (on an illustrative basis)

 

·GMV decline of -19.3% to €118.6 million in Q1 FY26 as compared to €147.0 million in the prior year period

 

·Net Sales decrease of -16.6% to €118.6 million as compared to €142.1 million in the prior year quarter

 

·Gross Profit Margin expansion of +390bps to 36.5% in Q1 FY26

 

·SG&A expenses decreased by -15.5% from Q1 FY 25 to Q1 FY26, also including capitalized expenses in PY and despite re-allocated fixed costs from THE OUTNET to YOOX

 

·NegativeAdjusted EBITDA of -€21.4 million in Q1 FY26 with an Adjusted EBITDA margin of -18.1%

 

 

 

 

 

GROUP KEY BUSINESS HIGHLIGHTS:

 

·Group Level: Reorganization to new operating model almost completed. LuxExperience to focus off-priceresources on its YOOX business and accelerate the overall transformation plan after sale of THE OUTNET

 

·Luxury | Mytheresa: Launch of exclusive capsule collections and pre-launches in collaboration withBrunello Cucinelli, Loewe, Moncler, Calvin Klein Collection, Saint Laurent, Max Mara, Zegna, God’s True Cashmere and many more;Impactful Top Customer events and “money-can´t-buy” experiences, including a NYFW celebration with Calvin Klein in NewYork, an intimate presentation and dinner with LOEWE at The Glass House in Connecticut, and a private dinner on stage at the Turin OperaHouse with Zegna

 

·Luxury | NAP & MRP: Renewed focus on EIP events and exclusive brand collaborations includingNili Lotan, Chloe, Jimmy Choo, Aime Leon Dore for NET-A-PORTER and Enfants Riches Deprimes, Drakes, Aime Leon Dore and Brunello Cucinellifor MR PORTER

 

·Off-price | YOOX: Agreement to sell the assets of THE OUTNET presentinga tailored solution for THE OUTNET to achieve its full potential under a renewed independent, stand-alone business model

 

Saleof assets powering the outnet

 

On October 31, 2025, LuxExperience B.V. andThe O Group LLC announced that they have entered into a binding agreement for LuxExperience to sell the set of assets powering THE OUTNETplatform:

 

·THE OUTNET Assets to be transferred will include the relevant brand rights, customer data, full inventoryand the US distribution center as well as required work-force in the US and the UK employees

 

·A Cash consideration of USD 30 million is paid for THE OUTNET Assets, which is subject to adjustment basedon inventory levels at closing, and for a certain period after closing LuxExperience will provide certain operational and IT servicesall priced at cost level

 

·LuxExperience will continue its commercial relationship with THE OUTNET also after closing of the transaction

 

·Transaction is expected to enable THE OUTNET to achieve its full potential under a renewed independent,stand-alone business model

 

·The divestment of THE OUTNET Assets allows LuxExperience to focus off-price resources on its YOOX businessand accelerate the overall transformation plan in regard to an efficient infrastructure platform for NET-A-PORTER and MR PORTER

 

·Closing of the transaction is expected in Q1 CY26, subject to certain closing conditions, including customaryregulatory approvals and payment of the purchase price, which is subject to adjustment based on inventory levels at closing

 

In our financial reporting, the off-price segmentwill be purely referred to the business of YOOX from now on, while THE OUTNET is classified as “discontinued operations” andis no longer considered part of LuxExperience’s core financial performance.

 

UpdatedGuidance

 

Therefore, LuxExperience now expects for FY26:

 

·GMV €2.4 billion to €2.7 billion and

 

·an Adjusted EBITDA margin between -2% to +1%

 

 

 

 

 

CONFERENCE CALL AND WEBCAST INFORMATION

 

LuxExperience expects to release first quarterof fiscal year 2026 financial results before the U.S. market open on November 19, 2025. A conference call to discuss its resultswill follow at 8:00am Eastern Time that same day.

 

Event: LuxExperience First Quarter Fiscal Year2026 Earnings Conference Call

Event Date: November 19, 2025

Event Time: 8:00am ET

Webcast:Please follow the link

 

Awebcast replay will be available on LuxExperience’s investor relations website at investors.luxexperience.com

 

FORWARD LOOKING STATEMENTS

 

This press release contains “forward-lookingstatements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the SecuritiesExchange Act of 1934, as amended, including statements relating to financing activities; future sales, expenses, and profitability; futuredevelopment and expected growth of our business and industry; our ability to execute our business model and our business strategy; havingavailable sufficient cash and borrowing capacity to meet working capital, debt service and capital expenditure requirements for the nexttwelve months; and projected capital spending. In some cases, you can identify forward-looking statements by the following words: “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “will,” “would” or the negative of these terms or other comparable terminology, although not all forward-lookingstatements contain these words. These statements are only predictions. Actual events or results may differ materially from those statedor implied by these forward-looking statements. In evaluating these statements and our prospects, you should carefully consider the factorsset forth below.

 

The risk that the completed YNAP acquisition andthe post-acquisition integration could have an adverse effect on the ability of YNAP to retain customers and retain and hire key personneland maintain relationships with their brand partners and customers and on their operating results and businesses generally; the risk thatproblems may arise in successfully integrating the businesses of YNAP and Mytheresa, which may result in the combined company not operatingas effectively and efficiently as expected; the risk that the combined company may be unable to achieve cost-cutting synergies or thatit may take longer than expected to achieve those synergies; LuxExperience’s ability to effectively compete in a highly competitiveindustry; LuxExperience’s ability to respond to consumer demands, spending and tastes; general economic conditions, including economicconditions resulting from deteriorating geopolitical and macroeconomic conditions, such as the recent global trade war that escalatedafter the U.S. imposed tariffs on countries across the globe, and the adoption of retaliatory tariffs by those countries, that may adverselyimpact consumer demand; LuxExperience’s ability to acquire new customers and retain existing customers; consumers of luxury productsmay not choose to shop online in sufficient numbers; the volatility and difficulty in predicting the luxury fashion industry; LuxExperience’sreliance on consumer discretionary spending; and LuxExperience’s ability to maintain average order levels and other factors.

 

 

 

 

 

We undertake no obligation to update any forward-lookingstatements made in this press release to reflect events or circumstances after the date of this press release or to reflect new informationor the occurrence of unanticipated events, except as required by law.

 

The achievement or success of the matters coveredby such forward-looking statements involves known and unknown risks, uncertainties and assumptions. If any such risks or uncertaintiesmaterialize or if any of the assumptions prove incorrect, our results could differ materially from the results expressed or implied bythe forward-looking statements we make.

 

You should not rely upon forward-looking statementsas predictions of future events. Forward-looking statements represent our management’s beliefs and assumptions only as of the datesuch statements are made.

 

Furtherinformation on these and other factors that could affect our financial results is included in filings we make with the U.S. Securitiesand Exchange Commission (“SEC”) from time to time, including the section titled “Risk Factors” included in theForm 20-F filed on October 30, 2025. These documents are available on the SEC’s website at www.sec.govand on the SEC Filings section of the Investor Relations section of our website at: https://investors.luxexperience.com.

 

The acquisition of YOOX Net-A-Porter Group S.p.A.(“YNAP”) (together with its subsidiaries, “YNAP Sub-Group”) by LuxExperience was completed on April 23, 2025("YNAP Acquisition"). The results of YNAP are included within the consolidated financial statements of LuxExperience for theperiod beginning on the date of the acquisition through the end of the respective period presented and the results of Mytheresa are includedfor the entirety of all periods presented.

 

ABOUT NON-IFRS FINANCIAL MEASURES AND OPERATINGMETRICS

 

Our non-IFRS financial measures include:

 

·Adjusted EBITDA is a non-IFRS financial measure that we calculate as net income before financeexpense (net), taxes, and depreciation and amortization, adjusted to exclude the recognition/release of extraordinary inventory writedown, other transaction-related, certain legal and other expenses share-based compensation expense and one-off Intercompany recharges.Adjusted EBITDA Margin is a non-IFRS financial measure which is calculated in relation to net sales.

 

Illustrative key operating and financial metricsby segment are non-IFRS financial measures that we present by segment for each period and were prepared by combining the historical standalonestatements of operations for each of legacy YNAP and Mytheresa. These measures are provided for illustrative purposes only and do notpurport to represent what the actual consolidated results of operations or consolidated financial condition would have been had the acquisitionactually occurred on the date indicated, nor do they purport to project the future consolidated results of operations or consolidatedfinancial condition for any future period or as of any future date. In addition, these measures have not been prepared in accordance withArticle 11 of Regulation S-X.

 

We are not able to forecast net income (loss)on a forward-looking basis without unreasonable efforts due to the high variability and difficulty in predicting certain items that affectnet income (loss), including, but not limited to, Income taxes and Interest expense and, as a result, are unable to provide a reconciliationto forecasted Adjusted EBITDA.

 

Gross Merchandise Value (GMV) is an operativemeasure and means the total Euro value of orders processed. GMV is inclusive of merchandise value, shipping and duty. It is net of returns,value added taxes and cancellations. GMV does not represent revenue earned by us. We use GMV as an indicator for the usage of our platformthat is not influenced by the mix of direct sales and commission sales. The indicators we use to monitor usage of our platform include,among others, active customers, total orders shipped and GMV.

 

 

 

 

 

SEGMENT REALIGNMENT

 

Effective for the first quarter ended September 30,2025, LuxExperience is realigning its reportable segments to correspond with changes to its operating model to reflect its new managementstructure and organizational responsibilities following the acquisition of YNAP. As further described herein, LuxExperience's three newreportable segments are: Luxury | Mytheresa, Luxury | NAP & MRP, and Off-price | YOOX. THE OUTNET is classified as “discontinuedoperations” and is no longer considered part of our LuxExperience’s core financial performance.

 

ABOUT LUXEXPERIENCE

 

LuxExperience is the leading digital, multi-brandluxury group and the online shopping destination for luxury enthusiasts worldwide. LuxExperience operates a portfolio of some of the mostdistinguished store brands in digital luxury and creates communities for luxury enthusiasts with unique digital and physical experiences.Mytheresa, NET-A-PORTER and MR PORTER, jointly comprising the luxury segments of LuxExperience, offer highly curated edits of the mostprestigious luxury brands across the world, featuring womenswear, menswear, kidswear, fine jewelry & watches, and lifestyle products.YOOX, which forms the off-price segment of LuxExperience, is the leading destination for multi-brand off-season online luxury shopping.The NYSE listed group operates worldwide.

 

Formore information, please visit https://investors.luxexperience.com.

 

Investor Relations Contact
LuxExperience B.V.
Stefanie Muenz
phone: +49 89 127695-1919
email: investors@luxexperience.com
Media Contact for business press
LuxExperience B.V.
Lisa Schulz
mobile: +49 151 11216490
email: lisa.schulz@luxexperience.com

 

Source: LuxExperience B.V.

 

 

 

 

 

LuxExperience B.V.

 

Illustrative key operating and financial metricsby segment for the

three months ended September 30, 2024 and2025

 

The following illustrative segment information for Luxury | Mytheresa,Luxury | NAP & MRP and Off-Price | YOOX is presented as if these segments had been included in LuxExperience Group’smanagement reporting for the three months ended September 30, 2024. These segments were not presented in the Company’s unauditedquarterly report for the three months ended September 30, 2024 as the YNAP Group was subsequently acquired on April 23, 2025,and therefore was not owned by the Company during the prior year comparative period presented. The following segment information shouldnot be viewed as a substitute for LuxExperience Group’s segment reporting. Further, the segment information presented here is notnecessarily indicative of LuxExperience Group’s results to be expected for any future periods.

 

THE OUTNET business under Off-Price segment has been classified asdiscontinued operations for the three months ended September 30, 2025. Therefore, the results of THE OUTNET business has been removedfrom the Off-Price segment for the three months ended September 30, 2024.

 

The following table illustrates our operating and financial metricsfor Luxury | MYTHERESA segment for the three months ended September 30, 2025:

 

   Three months ended
September 30,
     
(in € millions) (unaudited)  2024   2025   Change
in % / BPs
 
Gross Merchandise Value (GMV)(1)   216.6    245.9    13.5%
Active customers (LTM in thousands)(2)   842    812    (3.6)%
Total orders shipped (LTM in thousands)(2)   2,095    1,997    (4.7)%
Average order value (LTM)(2)   720    797    10.7%
Net sales   201.7    226.3    12.2%
Gross profit   88.6    101.0    14.0%
Gross profit margin(3)   43.9%   44.6%   70BPs
Adjusted EBITDA(4)   2.9    7.9    172.4%
Adjusted EBITDA margin(3)   1.4%   3.5%   210BPs

 

 (1)Definition of GMV, Active customer and Total orders shipped can be found on page 34 in our quarterly report.
 (2)Active customers and total orders shipped are calculated based on orders shipped from our sites during the last twelve months (LTM)ended on the last day of the period presented.
 (3)As a percentage of net sales.
 (4)EBITDA, adjusted EBITDA, adjusted Operating Income, adjusted net income are measures not defined under IFRS. For further informationabout how we calculate these measures and limitations of its use, see page 34.

 

 

 

 

 

The following table illustrates operating andfinancial metrics for Luxury | NAP & MRP segment for the three months ended September 30, 2024 and 2025:

 

   Three months ended
September 30,
     
(in € millions) (unaudited)  2024   2025   Change
in % / BPs
 
Gross Merchandise Value (GMV)(1)   251.7    224.5    (10.8)%
Active customers (LTM in thousands)(2)   1,176    872    (25.9)%
Total orders shipped (LTM in thousands)(2)   3,024    2,381    (21.3)%
Average order value (LTM)(2)   724    836    15.5%
Net sales   238.0    212.3    (10.8)%
Gross profit   110.8    101.5    (8.4)%
Gross profit margin(3)   46.6%   47.8%   120BPs
Adjusted EBITDA(4)   3.9    (14.6)   (473.7)%
Adjusted EBITDA margin(3)   1.6%   (6.9)%   (850)BPs

 

The following table illustrates operating and financial metrics forOff-Price | YOOX segment for the three months ended September 30, 2024 and 2025:

 

   Three months ended
September 30,
     
(in € millions) (unaudited)  2024   2025   Change
in % / BPs
 
Gross Merchandise Value (GMV)(1)   147.0    118.6    (19.3)%
Active customers (LTM in thousands)(2)   1,403    1,121    (20.1)%
Total orders shipped (LTM in thousands)(2)   4,098    2,955    (27.9)%
Average order value (LTM)(2)   217    256    18.0%
Net sales   142.1    118.6    (16.6)%
Gross profit   46.3    43.3    (6.4)%
Gross profit margin(3)   32.6%   36.5%   390BPs
Adjusted EBITDA(4)   (25.1)   (21.4)   (14.7)%
Adjusted EBITDA margin(3)   (17.7)%   (18.1)%   (40)BPs

 

 

 

 

 

LuxExperience B.V.

 

Consolidated Financial Statements of LuxExperienceGroup

 

Below tables present consolidated Statements ofProfit or Loss and Comprehensive Loss, Consolidated Statements of Financial Position, Consolidated Statements of Changes in Equity andConsolidated Statements of Cash Flows of LuxExperience Group including YNAP Sub-Group being consolidated starting from the acquisitiondate of April 23, 2025.

 

Consolidated Statements of Profit or Loss andComprehensive Loss

(Amounts in € millions, except share andper share data)

 

   Three Months Ended 
(in € thousands) (unaudited)  September 30, 2024   September 30, 2025 
Net sales   201,701    573,501 
Cost of sales, exclusive of depreciation and amortization   (113,067)   (322,763)
Gross profit   88,633    250,738 
Shipping and payment cost   (29,360)   (84,660)
Marketing expenses   (24,992)   (49,999)
Selling, general and administrative expenses   (56,013)   (173,962)
Depreciation and amortization   (7,128)   (11,607)
Other expenses, net   (1,177)   (12,171)
Operating loss   (30,036)   (81,660)
Finance costs   (1,221)   (3,057)
Finance income   -    1,952 
Finance costs, net   (1,221)   (1,105)
Loss before income taxes   (31,257)   (82,765)
Income tax (expense) benefit   7,736    (2,569)
Net loss from continuing operations   (23,522)   (85,335)
Loss from discontinued operations (net of tax)   -    (13,165)
Net loss   (23,522)   (98,499)
Cash Flow Hedge   1,035    (2,538)
Income Taxes related to Cash Flow Hedge   (289)   708 
Foreign currency translation   (29)   6,390 
Other comprehensive income   717    4,560 
Comprehensive loss   (22,805)   (93,939)
           
Basic & diluted earnings per share, € - continuing operations   (0.27)   (0.61)
Basic & diluted earnings per share, € - discontinued operations   (0.00)   (0.09)
Basic & diluted earnings per share, € - total   (0.27)   (0.70)

Weighted average ordinary shares outstanding

(basic and diluted) – in millions (1)

   87.2    139.7 

  

(1)In accordance with IAS 33, includes contingently issuable shares that are fully vested and can be convertedat any time for no consideration. For further details, refer to note 15 in our quarterly report.

 

 

 

 

 

LuxExperience B.V.

 

Consolidated Statementsof Financial Position

(Amounts in € millions)

 

(in € thousands)  June 30, 2025   September 30, 2025
(unaudited)
 
Assets          
Non-current assets          
Intangible assets and goodwill   156,731    156,466 
Property and equipment   55,901    54,379 
Right-of-use assets   201,131    173,906 
Deferred tax assets   1,683    243 
Other non-current assets   11,878    21,467 
Total non-current assets   427,323    406,461 
Current assets          
Inventories   1,019,539    1,017,764 
Trade and other receivables   96,676    87,115 
Other assets   134,766    128,829 
Cash and cash equivalents   603,593    461,138 
Assets classified as held for sale   -    36,435 
Total current assets   1,854,574    1,731,280 
Total assets   2,281,897    2,137,742 
           
Shareholders’ equity and liabilities          
Subscribed capital   2    2 
Capital reserve   912,039    916,937 
Retained earnings   457,192    358,542 
Accumulated other comprehensive income (losses)   (4,469)   243 
Total shareholders’ equity   1,364,764    1,275,724 
           
Non-current liabilities          
Provisions   4,484    5,561 
Lease liabilities   176,718    152,441 
Deferred income tax liabilities   11    167 
Other non-current liabilities   364    253 
Total non-current liabilities   181,578    158,421 
Current liabilities          
Liabilities to banks   10,000    32,019 
Tax liabilities   2,764    979 
Lease liabilities   32,085    29,784 
Contract liabilities   49,343    52,472 
Trade and other payables   285,722    191,302 
Other current liabilities   346,835    372,139 
Current provisions   8,807    9,200 
Liabilities associated with assets held for sale   -    15,701 
Total current liabilities   735,555    703,596 
Total liabilities   917,133    862,017 
Total shareholders’ equity and liabilities   2,281,897    2,137,742 

 

 

 

 

 

LuxExperience B.V.

 

Consolidated Statementsof Changes in Equity

(Amounts in € millions)

 

(in € thousands)  Subscribed
capital
   Capital
reserve
   Retained
earnings
(losses)
   Hedging
reserve
   Foreign
currency
translation
reserve
   Total
shareholders’
equity
 
Balance as of July 1, 2024   1    546,913    (112,767)   -    1,496    435,643 
Net loss   -    -    (23,522)   -    -    (23,522)
Other comprehensive loss   -    -    -    746    (29)   717 
Comprehensive loss   -    -    (23,522)   746    (29)   (22,805)
Share-based compensation   -    4,495    -    -    -    4,495 
Balance as of September 30, 2024   1    551,407    (136,289)   746    1,467    417,333 
(unaudited)                              
Balance as of July 1, 2025   2    912,039    457,041    -    (4,317)   1,364,764 
Net loss   -    -    (98,499)   -    -    (98,499)
Other comprehensive income   -    -    -    (1,830)   6,390    4,560 
Comprehensive income (loss)   -    -    (98,499)   (1,830)   6,390    (93,939)
Share options exercised   -    1,367    -    -    -    1,367 
Share-based compensation   -    3,531    -    -    -    3,531 
Balance as of September 30, 2025 (unaudited)   2    916,937    358,542    (1,830)   2,073    1,275,724 

 

 

 

 

 

LuxExperience B.V.

 

Consolidated Statements of Cash Flows

(Amounts in € millions)

 

   Three months ended September 30, 
(in € thousands) (unaudited)  2024   2025 
Net Loss   (23,522)   (98,499)
Adjustments for          
   Depreciation and amortization, impairment and asset disposals   7,128    12,826 
   Finance (income) costs, net   1,221    1,358 
   Share-based compensation   4,495    3,531 
   Income tax (benefit) expense   (7,736)   2,569 
Change in operating assets and liabilities          
   (Increase) decrease in inventories   5,658    (20,834)
   Decrease in trade and other receivables   2,842    9,426 
   Decrease in other assets   10,096    (3,687)
   Increase in other liabilities   14,205    29,546 
   Increase (Decrease) in contract liabilities   (799)   3,254 
   (Decrease) in trade and other payables   (39,700)   (86,005)
Income taxes paid   (544)   (3,165)
Interest received   -    1,952 
Net cash used in operating activities   (26,655)   (147,727)
Expenditure for property and equipment and intangible assets   (1,296)   (1,450)
Net cash used in investing activities   (1,296)   (1,450)
Interest paid   (1,156)   (2,752)
Proceeds from borrowings   25,316    22,019 
Lease payments   (2,258)   (10,806)
Proceeds from employee stock options exercised   -    1,367 
Net cash inflow from financing activities   21,902    9,828 
Net decrease in cash and cash equivalents   (6,049)   (139,348)
Cash and cash equivalents at the beginning of the period   15,107    603,593 
Effects of exchange rate changes on cash and cash equivalents   (98)   (3,107)
Cash and cash equivalents at end of the period   8,960    461,138 

 

 

 

 

 

LuxExperience B.V.

 

Reconciliation of non-IFRS measures

 

The following tables present a reconciliation of the Company’ssegment EBITDA to consolidated net loss for the three months ended September 30, 2025, with comparative illustrative segment informationpresented for the three months ended September 30, 2024:

 

   Three months ended September 30, 2024 
(in € millions) (unaudited)  Luxury
Mytheresa
   Luxury
NAP & MRP
   Off-Price
YOOX
   Other(*)   Reconciliation(**)   Aggregated 
Net sales   201.7    238.0    142.1    41.6    -    623.4 
Cost of sales, exclusive of depreciation and amortization   (113.1)   (127.2)   (95.8)   (34.3)   -    (370.4)
Gross profit   88.6    110.8    46.3    7.3    -    253.0 
Shipping and payment cost (1)   (29.3)   (29.5)   (26.1)   (3.2)   (0.1)   (88.2)
Marketing expenses   (25.0)   (18.8)   (9.3)   (2.1)   -    (55.2)
Selling, general and administrative expenses (1) (2)   (30.3)   (62.0)   (37.8)   (12.1)   (28.1)   (170.2)
Other income (expense), net   (1.2)   3.3    1.8    1.7    -    5.6 
Segment EBITDA   2.9    3.9    (25.1)   (8.5)   (28.2)   (55.0)

 

* Represents OFS and FM businesses being wound down.

** There were €23,825 thousand in expenses related to Other transaction-related,certain legal and other expenses and share-based compensation expenses totaling €4,495 thousand.

 

 (1)Other transaction-related, certain legal and other expenses represent (i) professional fees, including advisory and accountingfees, related to potential transactions, (ii) certain legal and other expenses incurred outside the ordinary course of our businessand (iii) other non-recurring expenses incurred in connection with the costs of closing our distribution center in Heimstetten, Germany.
   
 (2)Certain members of management and supervisory board members have been granted share-based compensation for which the share-based compensationexpense will be recognized upon defined vesting schedules in the future periods. Our methodology to adjust for share-based compensationand subsequently calculate Adjusted EBITDA, Adjusted Operating Income and Adjusted Net Income includes both share-based compensation expenseconnected to the IPO and share-based compensation expense recognized in connection with grants under the Long-Term Incentive Plan (LTI)for the Mytheresa Group key management members and share-based compensation expense due to Supervisory Board Members Plans. We do notconsider share-based compensation expense to be indicative of our core operating performance.

 

 

 

 

 

   Three months ended September 30, 2025 
(in € millions) (unaudited)  Luxury Mytheresa   Luxury
NAP & MRP
   Off-Price
YOOX
   Other(*)   Reconciliation(**)   IFRS
Consolidated
 
Net sales   226.3    212.3    118.6    19.2    (2.9)   573.5 
Cost of sales, exclusive of depreciation and amortization   (125.4)   (110.8)   (75.3)   (14.2)   2.9    (322.8)
Gross profit   101.0    101.5    43.3    5.0    0.0    250.7 
Shipping and payment cost (1)   (36.0)   (28.3)   (17.7)   (1.6)   (1.1)   (84.7)
Marketing expenses   (25.6)   (17.6)   (6.8)   -    -    (50.0)
Selling, general and administrative expenses (1) (2)   (31.7)   (61.9)   (33.9)   (2.2)   (44.3)   (174.0)
Other income (expense), net   0.2    (8.2)   (6.4)   2.2    -    (12.2)
Segment EBITDA   7.9    (14.6)   (21.4)   3.4    (45.4)   (70.1)
Depreciation and amortization   -    -    -    -    -    (11.6)
Finance costs, net   -    -    -    -    -    (1.1)
Income tax (expense) benefit   -    -    -    -    -    (2.6)
                               
Net loss from continued operations   -    -    -    -    -    (85.4)

 

*Represents OFS and FM businesses beingwound down.

** There were €41,852 thousand in expenses related to Other transaction-related,certain legal and other expenses and share-based compensation expenses totaling €3,531 thousand. Additionally, there was €2,858thousand in inter-segmental purchases of inventory which were subsequently sold during the period, and are therefore eliminated from Netsales and Cost of sales, exclusive of depreciation and amortization.

 

The following tables set forth the reconciliations of net loss to EBITDAto adjusted EBITDA, and their corresponding margins as a percentage of net sales:

 

   Three months ended
September 30,
     
(in € millions) (unaudited)  2024   2025   Change
in % / BPs
 
Net loss from continued operations   (23.5)   (85.4)   (263.3)%
     Depreciation and amortization   7.1    11.6    63.5%
Finance costs, net   1.2    1.1    (7.9)%
Income tax (expense) benefit   (7.7)   2.6    (133.4)%
                
EBITDA   (22.9)   (70.1)   (206.1)%
Adjustments:               
Other transaction-related, certain legal and other expenses (1)   21.3    41.9    96.6%
Share-based compensation (2)   4.5    3.6    (21.0)%
Adjusted EBITDA   2.9    (24.7)   (950.7)%
                
Reconciliation to Adjusted EBITDA margin               
Net sales   201.7    573.5    184.3%
Adjusted EBITDA margin   1.4%   (4.3)%   (570)BPs

 

 (1)Other transaction-related, certain legal and other expenses represent (i) professional fees, including advisory and accountingfees, related to potential transactions, (ii) certain legal and other expenses incurred outside the ordinary course of our business,and (iii) other non-recurring expenses incurred in connection with the costs of closing distribution centers.
   
 (2)Share-based compensation [expense] includes expenses related to share-based compensation grants made to certain members of our managementand Supervisory Board for which the share-based compensation expense will be recognized upon defined vesting schedules in the future periods.Our methodology to adjust for share-based compensation and subsequently calculate Adjusted EBITDA includes both share-based compensationexpense connected to the IPO and share-based compensation expense recognized in connection with grants under the LTI for LuxExperiencekey management members and share-based compensation expense due to Supervisory Board Members Plan. We do not consider share-based compensationexpense to be indicative of our core operating performance. This adjustment impacts sales, general and administrative expenses.