Segment information (Tables)

6 Months Ended

Dec. 31, 2025

Schedule of reconciliation of the Company's segment EBITDA to consolidated net income

The following is a reconciliation of the Company’s segment EBITDA to consolidated net income from the previous operating segments online operations and the two retail stores to the newly combined operating segment Luxury | Mytheresa for the three and six months ended December 31, 2024:

 

Three months ended December 31, 2024 (restated) ⁽³⁾

Retail

Corporate

Luxury

IFRS

(in € thousands) (unaudited)

 

Online

 

Stores

 

Costs ^{(1) (3)}

 

Mytheresa

 

Adjustment ⁽²⁾

 

consolidated

Net Sales

218,911

4,074

—

222,985

—

222,985

Segment EBITDA

20,450

1,387

(5,659)

16,178

(14,792)

1,386

Depreciation and amortization

(3,929)

Finance income (costs), net

(1,953)

Income tax expense

(193)

Net loss from continuing operations

(4,689)

 

Six months ended December 31, 2024 (restated) ⁽³⁾

Retail

Corporate

Luxury

IFRS

(in € thousands) (unaudited)

 

Online

 

Stores

 

Costs ^{(1) (3)}

 

Mytheresa

 

Adjustment ⁽²⁾

 

consolidated

Net Sales

416,927

7,759

—

424,686

—

424,685

Segment EBITDA

25,800

2,461

(9,159)

19,102

(40,625)

(21,523)

Depreciation and amortization

(11,057)

Finance income (costs), net

(3,174)

Income tax expense

7,542

Net loss from continuing operations

(28,211)

(1)	During the three and six months ended December 31, 2024, there were €5,659 thousand and €9,159 thousand in corporate administrative expenses that were not assigned to either the online operations or the retail stores.

(2)

Additionally, during the three and six months ended December 31, 2024, there were €9,645 thousand and €30,983 thousand in expenses related to Other transaction-related, certain legal and other expenses. Share-based compensation expenses amount to €5,147 thousand and €9,642 thousand during the respective periods.

(3)

For the three and six months ended December 31, 2024, corporate costs were not allocated to any segment. Starting with the annual report for fiscal year 2025, and driven by the YNAP acquisition and the resulting changes in the Group structure, management now allocates corporate costs to the respective segments. The impact of this change for the three months and six months ended December 31, 2024 is presented in the “Corporate costs” column in the table above.

The following is a reconciliation of the Company’s segment EBITDA to consolidated net income from the operating segments Luxury | Mytheresa, Luxury NAP & MRP, Off-Price YOOX and Other for the three and six months ended December 31, 2025:

 

Three months ended December 31, 2025

Luxury

Luxury NAP

Off-Price

(in € millions) (unaudited)

 

Mytheresa

 

& MRP

 

YOOX

 

Other ⁽³⁾

 

Reconciliation^(1)(2)(4)(5)

 

Consolidated

Net sales

242.7

277.1

125.3

1.8

—

646.9

Segment EBITDA

22.6

(1.9)

(7.5)

0.3

(11.5)

1.9

Depreciation and amortization

(12.3)

Finance income (costs), net

(1.9)

Income tax expense

(0.3)

Net loss from continuing operations

(12.6)

 

Six months ended December 31, 2025

Luxury

Luxury NAP

Off-Price

(in € millions) (unaudited)

 

Mytheresa

 

& MRP

 

YOOX

 

Other ⁽³⁾

 

Reconciliation^(1)(2)(4)(5)

 

Consolidated

Net sales

469.1

489.3

243.9

21.0

(2.9)

1,220.4

Segment EBITDA

30.5

(12.2)

(26.6)

3.5

(64.7)

(69.5)

Depreciation and amortization

(23.9)

Finance income (costs), net

(3.0)

Income tax expense

(2.9)

Net loss from continuing operations

(99.2)

(1)

Other transaction-related, certain legal and other expenses include professional fees (including advisory and accounting fees) related to potential transactions, as well as certain legal and other expenses incurred outside the ordinary course of business. For the three and six months ended December 31, 2025, expenses of €11,765 thousand and €53,739 thousand, respectively, were incurred and are reflected in the reconciliation column. These amounts have been excluded from Segment EBITDA and primarily impact Shipping and payment costs, Selling, general and administrative expenses, and Other income (expense), net.

(2)

Certain members of management and supervisory board members have been granted share-based compensation for which the related expense is recognized over the applicable vesting periods. Management adjusts Segment EBITDA to exclude share-based compensation expense, as it is not considered indicative of the Group’s underlying operating performance. For the three and six months ended December 31, 2025, share-based compensation expense amounted to €3,531 thousand and €7,004 thousand, respectively, and is reflected in the reconciliation column, primarily within Selling, general and administrative expenses.

(3)	Represents Online Flagship Stores (“OFS”) and Feng-Mao (“FM”) businesses being wound down.

(4)

During the three and six months ended December 31, 2025, intercompany sales of €0 and €2,858 thousand, respectively, were included in Net sales, with corresponding amounts included in Cost of sales, exclusive of depreciation and amortization. As these intercompany transactions are eliminated on consolidation, the related amounts are reflected in the reconciliation column.

(5)

Includes foreign exchange gains and losses arising on intercompany cash pooling positions, recorded in Other income (expense), net. These amounts are excluded from Segment EBITDA, as they reflect increased foreign exchange volatility on intra-group cash balances. The adjustment represents a foreign exchange gain of €3,795 thousand for the three months ended December 31, 2025 and a foreign exchange loss of €3,914 thousand for the six months ended December 31, 2025.