Business Wire

Q3 FY22 Results: Mytheresa reports GMV growth of 13.2% in Q3 FY22, a 67% two-year growth, stable profitability and targets strong full fiscal year 2022

Share

MYT Netherlands Parent B.V. (NYSE: MYTE) (“Mytheresa” or the “Company”), the parent company of Mytheresa Group GmbH, today announced financial results for its third quarter of fiscal year 2022 ended March 31, 2022. The luxury multi-brand digital platform delivered another quarter of solid top-line growth with continued profitability.

Michael Kliger, Chief Executive Officer of Mytheresa, said, “Our business has shown excellent strength despite the impact of many external challenges in the third quarter. I am pleased, that Mytheresa delivered very solid results and continued adjusted EBITDA profitability. We grew our GMV double-digit, we expanded our customer base healthily, our top customer base has become even stronger and all this against an extraordinary growth of 47% in last year’s quarter. We continued to see strong growth in the United States, where we again had the highest growth for Mytheresa, with outsized growth in warmer weather states like Florida and Texas.”

Kliger continued, “While it is impossible to predict the macro-economic environment for the coming months, the luxury sector has consistently proven to be very resilient. Furthermore, the shift to online in luxury shopping is continuing and driving growth. The first weeks of the fourth quarter of fiscal year 2022 fuel our confidence that Mytheresa remains the partner of choice for luxury designer brands to engage with our high-value multi-brand customers. We remain confident in the short and longer-term potential for profitable growth of our business.”

FINANCIAL HIGHLIGHTS FOR THE THIRD QUARTER ENDED MARCH 31, 2022

  • GMV increase of 13.2% year-over-year to €186.6 million, as compared to €164.8 million in the prior year period
  • Net sales increase of €4.7 million, or 2.9% year-over-year to €169.5 million slower than GMV due to planned switches of brands to the Curated Platform Model (CPM) and the subsequent effect of recording the platform fee as Net Sales
  • Increase of 490 basis points gross profit margin to 48.8% compared to 43.9% in the prior year period primarily driven by an increase in sales from the CPM generating 100% gross margin and a continued focus on full-price sales
  • Adjusted EBITDA of €10.2 million or 6.0% margin in Q3 FY22, as compared to €11.1 million or 6.8% margin in the prior year period. Adjusted operating income of €8.0 million, as compared to €9.1 million in the prior year period
  • Adjusted net income of €5.6 million, as compared to €4.5 million in the prior year period

RECENT BUSINESS HIGHLIGHTS

Strong Global Expansion:

  • Solid GMV growth overall with +13.2% vs. Q3 FY21 and +67.0% vs. Q3 FY20
  • Strongest GMV growth again in the US with +41.6% vs. Q3 FY21 and increased share of total GMV of 16.4%
  • Again high-impact top customer events held in Europe, Middle East and the United States
  • Opening of Mytheresa flagship store on JD.com to increase brand awareness and trust with Chinese consumers

Continued Brand Partnerships:

  • Launch of exclusive capsule collections and pre-launches in collaboration with Loewe, Moncler, Berluti, Manolo Blahnik x Birkenstock, Gucci, Dior Eyewear and many more
  • Successful beauty pop-up with French, luxury plant-based skincare brand Sisley
  • Continued success with the operations of the Curated Platform Model (CPM) with 6 brands

High-quality Customer Growth:

  • LTM growth of active customers of 21.6% reaching 755,000 customers
  • Solid number of first-time buyers in Q3 FY22 with over 110,000 customers
  • Very positive repurchase rates in Q3 FY22 of customer cohorts acquired a year ago
  • Strong growth of number of top customers with 33.3% in FYTD22 vs. FYTD21 as well as an increase in average GMV per all customers of 4.4% in FYTD22 vs. FYTD21
  • Successful growth of our exclusive resale service in partnership with Vestiaire Collective and expansion of the service to the UK and soon to the US

Consistent Strong Operational Performance:

  • Maintained business continuity in all operations with focus on health and well-being of all Mytheresa employees as top priority despite Omicron virus wave in Germany
  • High customer satisfaction with a Net Promoter Score of 77.7% in Q3 FY22 – not as high as last year due to continued global shipping delays driven by workforce shortages due to COVID
  • Achieved strong Gross Profit Margin with 48.8% in Q3 FY22 based on continued focus on full-price business and increasing share of CPM generating 100% gross profit

BUSINESS OUTLOOK

For the full fiscal year ending June 30, 2022, we expect to achieve our guidance at the low-end of the given ranges:

  • GMV in the range of €755 million to €775 million, representing a 23% to 26% growth
  • Net sales at €700 million to €720 million
  • Gross profit at €350 million to €365 million, representing a 22% to 27% growth
  • Adjusted EBITDA margin in the range of 9% to 10%

The foregoing forward-looking statements reflect Mytheresa’s expectations as of today's date. Given the number of risk factors, uncertainties and assumptions discussed below, actual results may differ materially. Mytheresa does not intend to update its forward-looking statements until its next quarterly results announcement, other than in publicly available statements.

CONFERENCE CALL AND WEBCAST INFORMATION

Mytheresa will host a conference call to discuss its third quarter of fiscal year 2022 financial results on May 10 , 2022 at 8:00am Eastern Time. Those wishing to participate via webcast should access the call through Mytheresa’s Investor Relations website at https://investors.mytheresa.com. Those wishing to participate via the telephone may dial in at +1 (844) 200-6205 (USA) or +1 (929) 526-1599 (International). The passcode will be 239252. A replay will be available via webcast through Mytheresa’s Investor Relations website. The telephone replay will be available from 11:00am Eastern Time on May 11, 2022, through May 17, 2022, by dialing +1 (866) 813-9403 (USA) or +44 204 525-0658 (International). The replay passcode will be 383682.

FORWARD LOOKING STATEMENTS

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements relating to the impact of the COVID-19 global pandemic; the impact of restrictions on use of identifiers for advertisers (IDFA); future sales, expenses, and profitability; future development and expected growth of our business and industry; our ability to execute our business model and our business strategy; having available sufficient cash and borrowing capacity to meet working capital, debt service and capital expenditure requirements for the next twelve 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-looking statements contain these words. These statements are only predictions. Actual events or results may differ materially from those stated or implied by these forward-looking statements. In evaluating these statements and our prospects, you should carefully consider the factors set forth below.

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

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

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

Further information on these and other factors that could affect our financial results is included in filings we make with the U.S. Securities and Exchange Commission (“SEC”) from time to time, including the section titled “Risk Factors” included in the form 20-F filed on October 15, 2021 under Rule 424(b)(4) of the Securities Act. These documents are available on the SEC’s website at www.sec.gov and on the SEC Filings section of the Investor Relations section of our website at: https://investors.mytheresa.com.

ABOUT NON-IFRS FINANCIAL MEASURES AND OPERATING METRICS

We review a number of operating and financial metrics, including the following business and non-IFRS metrics, to evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions. We present Adjusted EBITDA, Adjusted Operating Income and Adjusted Net Income because they are frequently used by analysts, investors and other interested parties to evaluate companies in our industry. Further, we believe these measures are helpful in highlighting trends in our operating results, because they exclude the impact of items that are outside the control of management or not reflective of our ongoing operations and performance. Adjusted EBITDA, Adjusted Operating Income, and Adjusted Net Income have limitations, because they exclude certain types of expenses. We use Adjusted EBITDA, Adjusted Operating Income, and Adjusted Net Income as supplemental information only. You are encouraged to evaluate each adjustment and the reasons we consider it appropriate for supplemental analysis.

Our non-IFRS financial measures include:

  • Adjusted EBITDA is a non-IFRS financial measure that we calculate as net income before finance expense (net), taxes, and depreciation and amortization, adjusted to exclude IPO preparation and transaction costs, other transaction-related costs and IPO-related share-based compensation expenses.
  • Adjusted Operating Income is a non-IFRS financial measure that we calculate as operating income, adjusted to exclude IPO preparation and transaction costs, other transaction-related costs and IPO-related share-based compensation expenses.
  • Adjusted Net Income is a non-IFRS financial measure that we calculate as net income, adjusted to exclude finance expenses on our Shareholder Loans, IPO preparation and transaction costs, other transaction-related costs, IPO-related share-based compensation expenses and related income tax effects.

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 affect net income (loss), including, but not limited to, Income taxes and Interest expense and, as a result, are unable to provide a reconciliation to forecasted Adjusted EBITDA.

Gross Merchandise Value (GMV) is an operative measure 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 platform that 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.

ABOUT MYTHERESA

Mytheresa is one of the leading global luxury fashion e-commerce platforms shipping to over 130 countries. Founded as a boutique in 1987, Mytheresa launched online in 2006 and offers ready-to-wear, shoes, bags and accessories for womenswear, menswear and kidswear. 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. Mytheresa’s unique digital experience is based on a sharp focus on high-end luxury shoppers, exclusive product and content offerings, leading technology and analytical platforms as well as high quality service operations. The NYSE listed company reported €612.1 million net sales (+36.2% vs. FY20) in its first fiscal year as a public company (https://investors.mytheresa.com).

MYT Netherlands Parent B.V.

Financial Results and Key Operating Metrics
(Amounts in € millions)

Three Months Ended

Nine months Ended

March 31, 2021

March 31, 2022

Change
in % / BPs

March 31, 2021

March 31, 2022

Change
in % / BPs

(in millions) (unaudited)

Gross Merchandise Value (GMV) (1)

€ 164.8

€ 186.6

13.2%

€ 449.7

€ 550.6

22.4%

Active customer (LTM in thousands) (1), (2)

621

755

21.6%

621

755

21.6%

Total orders shipped (LTM in thousands) (1), (2)

1.384

1,703

23.1%

1.384

1,703

23.1%

Net sales

€ 164.8

€ 169.5

2.9%

€ 449.7

€ 514.9

14.5%

Gross profit

€ 72.4

€ 82.8

14.4%

€ 209.6

€ 260.2

24.1%

Gross profit margin(3)

43.9%

48.8%

490 BPs

46.6%

50.5%

390 BPs

Adjusted EBITDA(4)

€ 11.1

€ 10.2

(8.1%)

€ 43.7

€ 52.6

20.2%

Adjusted EBITDA margin(3)

6.8%

6.0%

(80 BPs)

9.7%

10.2%

50 BPs

Adjusted Operating Income(4)

€ 9.1

€ 8.0

(12.6%)

€ 37.6

€ 45.8

21.9%

Adjusted Operating Income margin(3)

5.5%

4.7%

(80 BPs)

8.4%

8.9%

50 BPs

Adjusted Net Income(4)

€ 4.5

€ 5.6

25.8%

€ 24.5

€ 32.7

33.5%

Adjusted Net Income margin(3)

2.7%

3.3%

60 BPs

5.5%

6.4%

90 BPs

(1) Definition of GMV, Active customer and Total orders shipped can be found on page 29 in our Interim 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 information about how we calculate these measures and limitations of its use, see the following pages.

MYT Netherlands Parent B.V.

Financial Results and Key Operating Metrics
(Amounts in € millions)

The following tables set forth the reconciliations of net income to EBITDA and adjusted EBITDA, operating income to adjusted operating income and net income to adjusted net income:

Three Months Ended

Nine months Ended

March 31, 2021

March 31, 2022

Change
in %

March 31, 2021

March 31, 2022

Change
in %

(in millions) (unaudited)

Net income

€ (50.0)

€ (4.3)

(91.4%)

€ (24.6)

€ (9.5)

(61.2%)

Finance expenses, net

€ (4.6)

€ 0.3

(106.8%)

€ (14.8)

€ 0.7

(104.8%)

Income tax expense

€ 3.8

€ 2.0

(47.2%)

€ 13.5

€ 12.4

(7.8%)

Depreciation and amortization

€ 2.0

€ 2.3

12.0%

€ 6.1

€ 6.7

10.2%

thereof depreciation of right-

of use assets

€ 1.3

€ 1.4

9.7%

€ 3.9

€ 4.2

6.2%

EBITDA

€ (48.7)

€ 0.3

(100.6%)

€ (19.8)

€ 10.3

(152.0%)

IPO preparation and transaction

costs(1)

€ 3.3

€ 0.0

(100.0%)

€ 7.0

€ 0.0

(100.0%)

Other transaction-related costs(2)

€ 0.0

€ 0.3

N/A

€ 0.0

€ 1.3

N/A

IPO related share-based

compensation(3)

€ 56.5

€ 9.6

(82.9%)

€ 56.6

€ 40.9

(27.6%)

Adjusted EBITDA

€ 11.1

€ 10.2

(8.1%)

€ 43.7

€ 52.6

20.2%

Three Months Ended

Nine months Ended

March 31, 2021

March 31, 2022

Change
in %

March 31, 2021

March 31, 2022

Change
in %

(in millions) (unaudited)

Operating Income

€ (50.7)

€ (2.0)

(96.1%)

€ (25.9)

€ 3.6

(113.8%)

IPO preparation and transaction

costs(1)

€ 3.3

€ 0.0

(100.0%)

€ 7.0

€ 0.0

(100.0%)

Other transaction-related costs(2)

€ 0.0

€ 0.3

N/A

€ 0.0

€ 1.3

N/A

IPO related share-based

compensation(3)

€ 56.5

€ 9.6

(82.9%)

€ 56.6

€ 40.9

(27.6%)

Adjusted Operating Income

€ 9.1

€ 8.0

(12.6%)

€ 37.6

€ 45.8

21.9%

MYT Netherlands Parent B.V.

Financial Results and Key Operating Metrics
(Amounts in € millions)

Three Months Ended

Nine months Ended

March 31, 2021

March 31, 2022

Change
in %

March 31, 2021

March 31, 2022

Change
in %

(in millions) (unaudited)

Net Income

€ (50.0)

€ (4.3)

(91.4%)

€ (24.6)

€ (9.5)

(61.2%)

IPO preparation and transaction

costs(1)

€ 3.3

€ 0.0

(100.0%)

€ 7.0

€ 0.0

(100.0%)

Other transaction-related costs(2)

€ 0.0

€ 0.3

N/A

€ 0.0

€ 1.3

N/A

IPO related share-based

compensation(3)

€ 56.5

€ 9.6

(82.9%)

€ 56.6

€ 40.9

(27.6%)

Finance expenses on shareholder

loans(4)

€ (5.0)

€ 0.0

(100.0%)

€ (16.0)

€ 0.0

(100.0%)

Income tax effect(5)

€ (0.4)

€ 0.0

(100.0%)

€ 1.6

€ 0.0

(100.0%)

Adjusted Net Income

€ 4.5

€ 5.6

25.8%

€ 24.5

€ 32.7

33.5%

(1) Represents non-recurring professional fees, including consulting, legal and accounting fees, related to our initial public offering, which are classified within selling, general and administrative expenses.
(2) Other transaction-related costs represents non-recurring professional fees, including advisory and accounting fees, related to potential transactions.
(3) In fiscal 2021, with the effective IPO, certain key management personnel received a one-time granted share-based compensation, for which the share-based compensation expense will be recognized upon defined vesting schedules in the future periods, including €40.9 million for the nine months ended March 31, 2022. We do not consider these expenses to be indicative of our core operating performance.
(4) Our Adjusted Net Income excludes finance income (expenses) associated with our Shareholder Loans, which we do not consider to be indicative of our core performance. We did not receive any cash proceeds under the Shareholder Loans, which originated as part of the Neiman Marcus acquisition in 2014. In January 2021, we repaid our Shareholder Loans (principal plus outstanding interest) using a portion of the net proceeds from our initial public offering.
(5) Reflects adjustments to historical income tax expense to reflect changes in taxable income for each of the periods presented due to changes in finance expenses related to the Shareholder Loans, assuming a statutory tax rate of 27.8%.

MYT Netherlands Parent B.V.

Unaudited Condensed Consolidated Statements of Profit and Comprehensive Income
(Amounts in € thousands, except share and per share data)

Three Months Ended

Nine months Ended

(in € thousands)

March 31, 2021

March 31, 2022

March 31, 2021

March 31, 2022

Net sales

164,776

169,512

449,728

514,914

Cost of sales, exclusive of depreciation and amortization

(92,413)

(86,747)

(240,114)

(254,716)

Gross profit

72,363

82,765

209,614

260,199

Shipping and payment cost

(19,265)

(25,146)

(51,931)

(70,622)

Marketing expenses

(22,094)

(23,280)

(59,231)

(69,536)

Selling, general and administrative expenses

(80,040)

(34,214)

(117,701)

(111,352)

Depreciation and amortization

(2,040)

(2,284)

(6,107)

(6,728)

Other expense (income), net

329

184

(568)

1,612

Operating income

(50,747)

(1,975)

(25,925)

3,574

Finance income

5,905

0

22,148

0

Finance costs

(1,295)

(314)

(7,380)

(702)

Finance income (costs), net

4,610

(314)

14,768

(702)

Income (loss) before income taxes

(46,137)

(2,289)

(11,157)

2,872

Income tax expense

(3,838)

(2,028)

(13,464)

(12,418)

Net income (loss)

(49,975)

(4,317)

(24,621)

(9,546)

Cash Flow Hedge

(992)

448

(43)

(1,721)

Income Taxes related to Cash Flow Hedge

211

(125)

(20)

479

Foreign currency translation

-

14

-

(39)

Other comprehensive income (loss)

(781)

337

(63)

(1,281)

Comprehensive income (loss)

(50,755)

(3,979)

(24,683)

(10,827)

Basic & diluted earnings per share

(0.60)

(0.05)

(0.33)

(0.11)

Weighted average ordinary shares outstanding (basic & diluted) - in millions

82.8

86.4

74.4

86.3

MYT Netherlands Parent B.V.

Unaudited Condensed Consolidated Statements of Financial Position
(Amounts in € thousands)

(in € thousands)

June 30, 2021

March 31, 2022

Assets

Non-current assets

Intangible assets and goodwill

155,611

155,242

Property and equipment

8,810

8,308

Right-of-use assets

14,009

21,923

Total non-current assets

178,430

185,473

Current assets

Inventories

247,054

226,117

Trade and other receivables

5,030

5,932

Other assets

14,667

58,713

Cash and cash equivalents

76,760

93,527

Total current assets

343,510

384,288

Total assets

521,941

569,761

Shareholders’ equity and liabilities

Subscribed capital

1

1

Capital reserve

444,951

488,022

Accumulated Deficit

(60,837)

(70,382)

Accumulated other comprehensive income

1,602

320

Total shareholders’ equity

385,718

417,961

Non-current liabilities

Provisions

717

750

Lease liabilities

8,786

17,032

Deferred tax liabilities

2,308

5,058

Total non-current liabilities

11,811

22,841

Current liabilities

Tax liabilities

14,293

20,862

Lease liabilities

5,361

5,116

Contract liabilities

10,975

8,737

Trade and other payables

43,558

42,797

Other liabilities

50,225

51,448

Total current liabilities

124,412

128,959

Total liabilities

136,223

151,800

Total shareholders’ equity and liabilities

521,941

569,761

MYT Netherlands Parent B.V.

Unaudited Condensed Consolidated Statements of Changes in Equity
(Amounts in € thousands)

(in € thousands)

Subscribed capital

Capital reserve

Accumulated deficit

Hedging reserve

Foreign currency translation reserve

Total shareholders’ equity

Balance as of July 1, 2020

1

91,008

(28,232)

-

1,602

64,377

Net income

-

-

(24,621)

-

-

(24,621)

Other comprehensive income

-

-

-

(63)

-

(63)

Comprehensive income

-

-

(24,621)

(63)

-

(24,683)

Capital increase initial public offering (referred to as IPO)

-

283,224

-

-

-

283,224

IPO related Transaction costs

-

(4,550)

-

-

-

(4,550)

Share-based compensation

-

59,833

-

-

-

59,833

Balance as of March 31, 2021

1

429,514

(52,853)

(63)

1,602

378,201

Balance as of July 1, 2021

1

444,951

(60,837)

-

1,602

385,718

Net income

-

-

(9,546)

-

-

(9,546)

Other comprehensive income

-

-

-

(1,242)

(39)

(1,281)

Comprehensive income

-

-

(9,546)

(1,242)

(39)

(10,827)

Issued capital from exercise of share options

-

369

-

-

-

369

Share-based compensation

-

42,701

-

-

-

42,701

Balance as of March 31, 2022

1

488,022

(70,382)

(1,242)

1,563

417,961

MYT Netherlands Parent B.V.

Unaudited Condensed Consolidated Statements of Cash Flows
(Amounts in € thousands)

Nine months ended March 31,

(in € thousands)

2021

2022

Net income (loss)

(24,621)

(9,546)

Adjustments for

Depreciation and amortization

6,107

6,728

Finance expense (income) costs, net

(14,768)

702

Share-based compensation

59,833

42,701

Income tax expense

13,464

12,418

Change in operating assets and liabilities

Increase (decrease) in provisions

133

33

(Increase) decrease in inventories

(63,425)

20,937

(Increase) decrease in trade and other receivables

(805)

(902)

Decrease (increase) in other assets

2,526

(44,035)

(Decrease) increase in other liabilities

(3,936)

(509)

Increase (decrease) in contract liabilities

(1,083)

(2,239)

Increase (decrease) in trade and other payables

(10,493)

(761)

Income taxes paid

(2,684)

(2,620)

Net cash provided by (used in) operating activities

(39,751)

22,907

Expenditure for property and equipment and intangible assets

(1,555)

(1,702)

Proceeds from sale of property and equipment and intangible assets

44

-

Net cash (used in) investing activities

(1,511)

(1,702)

Interest paid

(4,581)

(702)

Proceeds from bank liabilities

64,990

-

Repayment of liabilities from banks

(74,990)

-

Repayment of Shareholder loans

(171,827)

-

Proceeds from capital increase

283,224

-

IPO preparation and transaction costs

(4,550)

-

Proceeds from the exercise of share options

-

369

Payment of lease liabilities

(4,345)

(4,067)

Net cash (used in) provided by financing activities

87,922

(4,400)

Net increase (decrease) in cash and cash equivalents

46,659

16,806

Cash and cash equivalents at the beginning of the period

9,367

76,760

Effects of exchange rate changes on cash and cash equivalents

(18)

(39)

Cash and cash equivalents at end of the period

56,008

93,526

To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.

Contact information

Investor Relations Contacts
Mytheresa.com GmbH
Stefanie Muenz
phone: +49 89 127695-1919
email: investors@mytheresa.com

Solebury Trout
Deena Friedman / Maria Lycouris
phone: +1 800 929 7167
email: investors@mytheresa.com

Media Contacts for public relations
Mytheresa.com GmbH
Sandra Romano
mobile: +49 152 54725178
phone: +49 89 127695-236
email: sandra.romano@mytheresa.com

Media Contacts for business press
Mytheresa.com GmbH
Alberto Fragoso
mobile: +49 152 38297355
phone: +49 89 127695-1358
email: alberto.fragoso@mytheresa.com

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

Faster Recoveries, Improved Security: HTEC and G2 Risk Solutions Join Forces to Advance Bankruptcy Management28.3.2024 17:02:00 CET | Press release

HTEC, a global digital consulting, software engineering, and product development company, is announcing a strategic collaboration with G2 Risk Solutions (G2RS), the preeminent provider of end-to-end bankruptcy technology solutions. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240328622816/en/ HTEC & G2 Risk Solutions Partnership (Photo: Business Wire) Under the agreement, G2RS will engage HTEC to incorporate its leading-edge technology into G2RS’ premier bankruptcy management platform. As the creators of the most comprehensive national bankruptcy database and the first bankruptcy management portal, G2RS is an industry pioneer. By adding HTEC’s premium engineering to the G2RS technology stack, G2RS will offer new and innovative functionalities to help clients expedite financial recoveries, increase data protection, and reduce operational inefficiencies in the bankruptcy management life cycle. “We are thrilled to be a part o

The reopening of the Yokohama Museum of Art adds another innovative and distinctive venue for events in Yokohama28.3.2024 16:00:00 CET | Press release

After extensive renovations, the iconic Yokohama Museum of Art has reopened its doors to visitors from all over the world. The museum’s reopening paves the way to new and closer collaboration with international events in Yokohama. This extraordinary venue is the ideal setting for a one-of-a-kind gathering, in part, supported by the Yokohama Convention & Visitors Bureau (hereinafter YCVB). The Yokohama Museum of Art Founded in 1989, the Yokohama Museum of Art collects over 14,000 works of art that reflect the many facets of life in Yokohama—past, present, and future. The reopening of the museum coincides with the Yokohama Triennale, an international exhibition featuring contemporary artists whose decentralized exhibits turn the entire metropolis into an art museum. The 8th Yokohama Triennale is being held from March 15 to June 9, 2024, with the Yokohama Museum of Art being a pivotal venue for the exhibition. With the museum firmly back on the map as Yokohama’s leading artistic venue, YC

LambdaTest Launches The Phoenix Project, an Employee Resource Group for Women28.3.2024 16:00:00 CET | Press release

LambdaTest, a leading cloud-based unified testing platform, announced the launch of The Phoenix Project, an Employee Resource Group (ERG) dedicated to supporting and promoting the success of its female employees. “LambdaTest is committed to fostering a diverse, inclusive, and equitable workplace where all employees feel valued and empowered to reach their full potential,” said Chandini Chopra, VP of People and Culture at LambdaTest. “The Phoenix Project is a critical step towards achieving this goal by providing a platform for professional development, networking, and mentorship, especially for our women employees.” The Phoenix Project Aims To: Offer professional development workshops, networking opportunities, and dedicated time off for women to participate in ERG initiatives. Provide mentorship programs connecting senior female employees with mentees. Promote leadership development among women within the company. Create a sense of community for women in the workplace. Leadership and

Eight new sustainability-themed experiences—exclusive to Yokohama—for convention participants28.3.2024 16:00:00 CET | Press release

In a survey conducted by Yokohama Convention & Visitors Bureau (hereinafter YCVB), many convention attendees expressed particular interest in Yokohama’s culture, sightseeing spots, and local cuisine. In response, YCVB has developed eight new Yokohama Tours for event attendees to enjoy during their free time in Yokohama, keeping in line with our ethos of sustainability. Noge Area Bar-Hopping Tour, complete with guide Known affectionately by locals as Yokohama’s kitchen, Noge is a bustling nightlife spot that is home to over 600 izakaya (Japanese-style pubs). A knowledgeable local guide will lead participants to all the hidden gems in Noge, where they can indulge in distinctive, delicious pub-style food and drink. With easy on-foot accessibility, participants can rest assured this fun night out won’t impact their carbon footprint. Soto Zen Tour of Sojiji, head temple of the Soto Zen school As a prominent Zen sect in Japan, Soto Zen provides one of the best Zen wellness experiences. Durin

Nordson EFD Releases New 3-Axis Automated Fluid Dispensing Systems28.3.2024 15:00:00 CET | Press release

Nordson EFD, a Nordson company (NASDAQ: NDSN) and leading precision fluid dispensing systems manufacturer is proud to announce the new GVPlus and PROX families of automated fluid dispensing products. Both robotic solutions share a focus on motion, workspace, repeatability, payload, setup, and vision technology enhancements. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240305726899/en/ The GV Series offers market-leading dimensional positional accuracy and deposit placement repeatability. (Photo: Business Wire) The new GVPlus automated fluid dispensing solution offers improved repeatability, bigger payloads with simplified setup requirements, and superior vision capabilities. Repeatability is now best-in-class at 8 μm, improving repeatability to ±0.008 mm. Setting up the robot is easier due to a new dual mounting flange that enables a tool payload of up to 4.5 kg (10 lbs). When paired with the working area of 400 mm x 400 m

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom
HiddenA line styled icon from Orion Icon Library.Eye