The German-based online luxury retailer’s first financial results as a public company showed the pandemic’s digital boost is still paying off. Net sales grew to €158.6 million ($194 million) in the quarter ending December 31, as the company drew a record number of first-time shoppers.
In the second half of 2020, net sales increased 30 percent to €285 million, with an adjusted EBITDA of €32.6 million up from €17.2 million during the same period last year. Net income was €25.4 million ($31 million), up from €2 million ($2.4 million) the prior year.
Mytheresa went public in January with a market value of $3.1 billion. The company’s share price was up 0.3 percent on Thursday morning. It has decreased 0.9 percent since first listing.