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Q2, FY 2021 Results: Mytheresa Continues Strong Growth and Profitability

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MYT Netherlands Parent B.V. (NYSE:MYTE) (“Mytheresa” or the “Company”), the parent company of Mytheresa Group GmbH, today announced financial results for its fiscal second quarter ended December 31, 2020.

Michael Kliger, Chief Executive Officer of Mytheresa, said, “Even considering clear tailwinds by the COVID pandemic, the strong results of the second quarter of fiscal year 2021 confirm once more our strategy and unique business model: Mytheresa is about inspiration not aggregation. It is about an unrivaled, highly curated offering, a focus on high-end luxury customers, sophisticated technologies and a first-class in-house managed service experience.”

Kliger continued, “Our full commitment to acquire and retain the best customer base in the market creates a reinforcing cycle of outstanding brand relationships that feed a superior customer value proposition to generate strong customer economics, which allows us to stay true to our strategic focus. Therefore, we will continue to deliver growth as well as profitability.”

FINANCIAL HIGHLIGHTS FOR THE SECOND QUARTER ENDED DECEMBER 31, 2020

  • Net sales increase of 32.9% year-over-year to €158.6 million
  • Active customer growth of 28.2% to 569,000
  • Gross margin of 49.5%, a slight increase of 60 basis points year-over-year
  • Adjusted EBITDA of €22.1 million, as compared to €12.9 million in the prior year period
  • Adjusted EBITDA margin of 14.0%, as compared to 10.8% in the prior year period
  • Operating income of €16.6 million, as compared to €7.3 million in the prior year period
  • Adjusted operating income of €20.1 million, as compared to €10.9 million in the prior year period
  • Net income of €15.7 million, as compared to €6.3 million in the prior year period
  • Adjusted net income of €14.8 million, as compared to €6.4 million in the prior year period
  • Successfully completed IPO in January 2021 to raise proceeds, net of underwriting discounts and before related expenses of approximately $344.2 million

FINANCIAL HIGHLIGHTS FOR THE SIX MONTHS ENDED DECEMBER 31, 2020

  • Net sales increase of 30.4% year-over-year to €285.0 million
  • Gross margin of 48.2%, a slight increase of 20 basis points year-over-year
  • Adjusted EBITDA of €32.6 million, as compared to €17.2 million in the prior year period
  • Adjusted EBITDA margin of 11.4%, as compared to 7.9% in the prior year period
  • Operating income of €24.8 million, as compared to €8.9 million in the prior year period
  • Adjusted Operating income of €28.5 million, as compared to €13.4 million in the prior year period.
  • Net income of €25.4 million, as compared to €2.0 million in the prior year period
  • Adjusted net income of €20.1 million, as compared to €10.0 million in the prior year period

RECENT BUSINESS HIGHLIGHTS

  • Maintained business continuity in all operations with focus on health and well-being of all Mytheresa employees as top priority since the pandemic started
  • Record number of daily shipments, processing 11,000 parcels in just one day during Q2, FY 2021
  • Record high of first time buyers (over 100,000 new customers) in Q2, FY 2021
  • Further decreased customer acquisition costs
  • Significant increase in customer satisfaction with a Net Promoter Score of 87% in Q2, FY 2021
  • Continued expansion of the Mytheresa menswear business above expectations with net sales share surpassing 10% in December 2020
  • Hosted digital events targeting top customers in collaboration with the designers of Khaite, Wardrobe NYC, Eera, selected influencers and a physical VIC event in Shanghai, China in December 2020
  • Strong ongoing support of brand partners with the launch of exclusive capsule collections and pre-launches in collaboration with Valentino, Moncler, Dolce & Gabbana, Loewe, Christian Louboutin, Max Mara and many more

SUBSEQUENT EVENTS

On January 25, 2021, Mytheresa successfully closed its initial public offering (“IPO”) of 17,994,117 American Depositary Shares (“ADSs”), representing 17,994,117 ordinary shares, including the full exercise by the underwriters of their option to purchase 2,347,058 additional ADSs, representing 2,347,058 ordinary shares, at a public offering price of $26.00 per ADS. The Company sold 14,233,823 ADSs in the offering and its sole shareholder sold 3,760,294 ADSs in the offering, including 586,764 ADSs sold by the Company and 1,760,294 ADSs sold by the sole shareholder pursuant to the exercise in full of the underwriters’ option to purchase additional ADSs. The IPO raised approximately $344.2 million, net of underwriting discounts and before related expenses.

On January 26, 2021, Mytheresa exercised the option to repay the Fixed Rate Shareholder Loans (principal plus outstanding interest) with parts of the proceeds of our IPO, which resulted in cash outflows of €170.0 million ($ 206.6 million). In addition, MGG and its subsidiaries fully repaid any borrowings under the revolving credit facilities.

BUSINESS OUTLOOK

For the full fiscal year ending June 30, 2021, some of the beneficial performance tailwinds from COVID may be expected to slow down in Q3 and especially in Q4 as stores reopen. Nevertheless, we expect strong results for the full fiscal year in line with long-term expectations of net sales growth of low to mid-twenties and stable Adjusted EBITDA margins:

  • Net sales in the range of €565 million to €580 million, representing 26% to 29% growth
  • Adjusted EBITDA in the range of €45 million to €48 million, representing 27% to 36% growth
  • Adjusted EBITDA Margin of 8.0% to 8.3%

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 second quarter fiscal 2021 financial results on February 25, 2021 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 (833) 979-2860 (USA) or +1 (236) 714-2917 (International). 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 February 25, 2021, through March 4, 2021, by dialing +1 (800) 585-8367 (USA) or +1 (416) 621-4642 (International). The replay passcode will be 9993744.

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; 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” in our final prospectus under Rule 424(b) filed with the SEC on January 22, 2021 in connection with our IPO and 6-K (reporting our quarterly results). 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

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. Furthermore, other companies in our industry may calculate similarly titled measures differently than we do, limiting their usefulness as comparative measures. 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 U.S. sales tax expenditures temporarily borne by us through the fourth quarter of fiscal 2020, IPO preparation and transaction costs and share-based compensation expenses.
  • Adjusted Operating Income is a non-IFRS financial measure that we calculate as operating income, adjusted to exclude U.S. sales tax expenditures temporarily borne by us through the fourth quarter of fiscal 2020, any IPO preparation and transaction costs and share-based compensation expenses.
  • Adjusted Net Income is a non-IFRS financial measure that we calculate as net income, adjusted to exclude U.S. sales tax expenditures temporarily borne by us, finance expenses on our Shareholder Loans, IPO preparation and transaction costs, share-based compensation expenses and related income tax effects.

ABOUT MYTHERESA

Mytheresa is one of the leading global luxury fashion e-commerce retailers. Mytheresa was launched in 2006 and offers ready-to-wear, shoes, bags and accessories for women, men and kids. The highly curated edit focuses on true luxury with designer brands such as Bottega Veneta, Burberry, Dolce & Gabbana, Fendi, 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.

For more information, please visit https://investors.mytheresa.com/.

MYT Netherlands Parent B.V.

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

Three Months Ended

Six Months Ended

December
31, 2019

December
31, 2020

Change
in %

December
31, 2019

December
31, 2020

Change
in %

(in millions) (unaudited)

Active customer (LTM in thousands)

444

569

28.2%

444

569

28.2%

Total orders shipped (LTM in thousands)

1.010

1.256

24.4%

1.010

1.256

24.4%

Net sales

€ 119.4

€ 158.6

32.9%

€ 218.5

€ 285.0

30.4%

Gross profit

€ 58.4

€ 78.6

34.6%

€ 104.7

€ 137.3

31.1%

Gross profit margin(1)

48.9%

49.5%

63 BPs

47.9%

48.2%

23 BPs

Adjusted EBITDA(2)

€ 12.9

€ 22.1

72.1%

€ 17.2

€ 32.6

89.1%

Adjusted EBITDA margin(1)

10.8%

14.0%

318 BPs

7.9%

11.4%

355 BPs

Adjusted Operating Income(2)

€ 10.9

€ 20.1

84.7%

€ 13.4

€ 28.5

113.3%

Adjusted Operating Income margin(1)

9.1%

12.7%

356 BPs

6.1%

10.0%

389 BPs

Adjusted Net Income(2)

€ 6.4

€ 14.8

131.4%

€ 10.0

€ 20.1

101.5%

Adjusted Net Income margin(1)

5.4%

9.3%

397 BPs

4.6%

7.0%

248 BPs

(1)

As a percentage of net sales.

(2)

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 below.

MYT Netherlands Parent B.V.

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

The following are reconciliations of Adjusted EBITDA, Adjusted Operating Income, and Adjusted Net Income to their most directly comparable IFRS measures:

Three Months Ended

Six Months Ended

December
31, 2019

December
31, 2020

Change
in %

December
31, 2019

December
31, 2020

Change
in %

(in millions) (unaudited)

Net income

€ 6.3

€ 15.7

148.4%

€ 2.0

€ 25.4

1,159.4%

Finance expenses, net

€ (3.4)

€ (5.0)

46.8%

€ 6.0

€ (10.2)

(269.7%)

Income tax expense

€ 4.4

€ 5.9

33.3%

€ 0.9

€ 9.6

1026.0%

Depreciation and amortization

€ 2.0

€ 2.0

3.0%

€ 3.9

€ 4.1

5.3%

thereof depreciation of right-of use

assets

€ 1.3

€ 1.3

2.3%

€ 2.5

€ 2.6

4.4%

EBITDA

€ 9.3

€ 18.7

100.1%

€ 12.7

€ 28.9

127.1%

U.S. sales tax(1)

€ 0.8

€ 0.0

(100.0%)

€ 1.7

€ 0.0

(100.0%)

IPO preparation and transaction costs(2)

€ 2.7

€ 3.5

27.9%

€ 2.7

€ 3.7

35.3%

Share-based compensation expense(3)

€ 0.0

€ 0.0

(68.2%)

€ 0.1

€ 0.0

(72.5%)

Adjusted EBITDA

€ 12.9

€ 22.1

72.1%

€ 17.2

€ 32.6

89.1%

Three Months Ended

Six Months Ended

December
31, 2019

December
31, 2020

Change
in %

December
31, 2019

December
31, 2020

Change
in %

(in millions) (unaudited)

Operating Income

€ 7.3

€ 16.6

126.4%

€ 8.9

€ 24.8

180.3%

U.S. sales tax(1)

€ 0.8

€ 0.0

(100.0%)

€ 1.7

€ 0.0

(100.0%)

IPO preparation and transaction costs(2)

€ 2.7

€ 3.5

27.9%

€ 2.7

€ 3.7

35.3%

Share-based compensation expense(3)

€ 0.0

€ 0.0

(68.2%)

€ 0.1

€ 0.0

(72.5%)

Adjusted Operating Income

€ 10.9

€ 20.1

84.7%

€ 13.4

€ 28.5

113.3%

MYT Netherlands Parent B.V.

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

Three Months Ended

Six Months Ended

December
31, 2019

December
31, 2020

Change
in %

December
31, 2019

December
31, 2020

Change
in %

(in millions) (unaudited)

Net Income

€ 6.3

€ 15.7

148.4%

€ 2.0

€ 25.4

1,156.4%

U.S. sales tax(1)

€ 0.8

€ 0.0

(100.0%)

€ 1.7

€ 0.0

(100.0%)

IPO preparation and transaction costs(2)

€ 2.7

€ 3.5

27.9%

€ 2.7

€ 3.7

35.3%

Share-based compensation expense(3)

€ 0.0

€ 0.0

(68.2%)

€ 0.1

€ 0.0

(72.5%)

Finance expenses on shareholder loans (4)

€ (3.7)

€ (5.3)

44.3%

€ 5.6

€ (10.9)

(296.1%)

Income tax effect(5)

€ 0.2

€ 0.9

338.9%

€ (2.1)

€ 1.9

(190.5%)

Adjusted Net Income

€ 6.4

€ 14.8

131.4%

€ 10.0

€ 20.1

101.5%

(1)

Represents expenses related to sales tax liabilities temporarily borne by us through the fourth quarter of fiscal 2020 in the United States. We temporarily incurred sales tax related liabilities on customer purchases in the United States because we were not able to charge our customers for these amounts at the point of sale under our previous IT configuration. Due to upgrades in our IT infrastructure during the fourth quarter of fiscal 2020, we no longer incur these expenses, as we charge the applicable U.S. sales tax directly to our customers.

(2)

Represents non-recurring professional fees, including consulting, legal and accounting fees, related to this offering, which are classified within selling, general and administrative expenses.

(3)

During the three and six months ended December 31, 2019 and 2020, respectively, certain key management personnel received share-based compensation from our ultimate parent. We do not consider these expenses to be indicative of our core operating performance.

(4)

Our Adjusted Net Income excludes finance 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. Further, we do not have any financial covenants associated from the Shareholder Loans and we do not have any required interest or principal payments until their respective maturities in October 2025. 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

Six Months Ended

(in € thousands)

December
31, 2019

December
31, 2020

December
31, 2019

December
31, 2020

Net sales

119,369

158,593

218,481

284,952

Cost of sales, exclusive of depreciation and amortization

(60,989)

(80,023)

(113,755)

(147,701)

Gross profit

58,380

78,570

104,726

137,251

Shipping and payment cost

(14,204)

(17,833)

(27,345)

(32,666)

Marketing expenses

(17,294)

(19,696)

(33,110)

(37,137)

Selling, general and administrative expenses

(17,839)

(22,104)

(31,794)

(37,660)

Depreciation and amortization

(1,987)

(2,046)

(3,864)

(4,067)

Other expense (income), net

284

(276)

244

(897)

Operating income

7,340

16,615

8,857

24,824

Finance (expense) income, net

3,389

4,975

(5,984)

10,157

Income (loss) before income taxes

10,729

21,590

2,873

34,981

Income tax expense (income)

(4,399)

(5,866)

(855)

(9,627)

Net income (loss)

6,330

15,724

2,018

25,354

Cash Flow Hedge

436

78

(846)

949

Income Taxes related to Cash Flow Hedge

(121)

11

235

(231)

Other comprehensive income (loss)

315

89

(611)

718

Comprehensive income (loss)

6,645

15,813

1,407

26,072

Basic and diluted earnings per share

0,09

0,22

0,03

0,36

Weighted average ordinary shares outstanding (basic and diluted)(1)

70,190,687

70,190,687

70,190,687

70,190,687

(1)

On January 12, 2021, the Company effected a 70,190,687 (with a nominal value per share of €0.000015) for one share split of its ordinary shares outstanding. Accordingly, all share and per share amounts for all periods presented in these condensed consolidated interim financial statements and notes thereto have been adjusted retroactively, where applicable, to reflect this share split.

MYT Netherlands Parent B.V.

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

(in € thousands)

June 30, 2020

December 31, 2020

Assets

Non-current assets

Intangible assets and goodwill

154,966

154,883

Property and equipment, net

9,570

9,517

Right-of-use assets

19,001

16,298

Total non-current assets

183,537

180,698

Current assets

Inventories

169,131

231,968

Trade and other receivables

4,815

6,012

Other assets

18,950

18,180

Cash and cash equivalents

9,367

5,231

Total current assets

202,263

261,391

Total assets

385,800

442,089

Shareholders’ equity and liabilities

Subscribed capital

1

1

Capital reserve

91,008

91,022

Accumulated Deficit

(28,234)

(2,880)

Other comprehensive income

1,602

2,320

Total shareholders’ equity

64,377

90,463

Non-current liabilities

Shareholder Loans

191,194

174,651

Other liabilities

5,905

7,240

Tax liabilities

3,853

3,852

Provisions

582

706

Lease liabilities

13,928

11,338

Deferred tax liabilities, net

1,130

9,882

Total non-current liabilities

216,592

207,669

Current liabilities

Liabilities to banks

10,000

45,990

Lease liabilities

5,787

5,239

Contract liabilities

6,758

6,024

Trade and other payables

36,158

38,708

Other liabilities

46,128

47,996

Total current liabilities

104,831

143,957

Total liabilities

321,423

351,626

Total shareholders’ equity and liabilities

385,800

442,089

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, 2019

72

148,960

(34,584)

-

(3,128)

111,320

Net income

-

-

2,018

-

-

2,018

Other comprehensive income

-

-

-

(611)

1,224

613

Comprehensive income

-

-

2,018

(611)

1,224

2,631

Legal Reorganization

(71)

36,252

-

-

36,181

Share-based compensation

-

51

-

-

-

51

Balance as of December 31, 2019

1

185,263

(32,566)

(611)

(1.904)

150,183

Balance as of July 1, 2020

1

91,008

(28,234)

-

1,602

64,377

Net income

-

-

25,354

-

-

25,354

Other comprehensive income

-

-

-

718

-

718

Comprehensive income

-

-

25,354

718

-

26,072

Share-based compensation

-

14

-

14

Balance as of December 31, 2020

1

91,022

(2,880)

718

1,602

90,463

MYT Netherlands Parent B.V.

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

Six months ended December 31,

(in € thousands)

2019

2020

Net (loss) income

2,018

25,354

Non-Cash items

Depreciation and amortization

3,864

4,067

Finance expense (income), net

5,984

(10,157)

Share-based compensation

51

14

Income tax (income) expense

855

9,627

Change in operating assets and liabilities

Increase in provisions

8

124

Increase in inventories

(36,418)

(62,837)

Decrease (increase) in trade and other receivables

1,499

(1,197)

Decrease (increase) in other assets

1,072

1,955

Increase in other liabilities

8,726

2,968

Increase (decrease) in contract liabilities

1,528

(734)

(Decrease) increase in trade and other payables

(7,949)

2,550

Income taxes paid

(1,723)

(1,102)

Net cash (outflow) from operating activities

(20,485)

(29,368)

Expenditure for property and equipment and intangible assets

(1,281)

(1,363)

Proceeds from sale of property and equipment and intangible assets

-

44

Net cash (outflow) from investing activities

(1,281)

(1,319)

Interest paid

(418)

(3,962)

Proceeds from bank liabilities

30,000

64,990

Repayment of liabilities from banks

(862)

(29,000)

Repayment of Shareholder loans

-

(2,411)

Lease payments

(2,465)

(3,047)

Net cash inflow from financing activities

26,255

26,570

Net increase (decrease) in cash and cash equivalents

4,489

(4,118)

Cash and cash equivalents at the beginning of the period

2,120

9,367

Effects of exchange rate changes on cash and cash equivalents

(28)

(18)

Cash and cash equivalents at end of the period

6,581

5,231

Contact information

Investor Relations Contacts
Ed Yuen / Maria Lycouris
+1-800-929-7167
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

Edelman USA
Ted McHugh / Nicole Briguet
phone: +1 201 341-0211 / +1 646 750-7235
email: ted.mchugh@edelman.com
email: nicole.briguet@edelman.com

Edelman Germany, Austria, Switzerland
Ruediger Assion
mobile: +49 162 4909624
phone: +49 221 8282 8111
email: ruediger.assion@edelmann.com

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LEO Pharma Presents Long-Term Safety and Efficacy Data for Tralokinumab in Adults With Moderate-to-Severe Atopic Dermatitis at AAD VMX 202123.4.2021 16:05:00 CEST | Press release

LEO Pharma A/S, a global leader in medical dermatology, today announced results on the long-term safety and efficacy profile of tralokinumab in adult patients with moderate-to-severe atopic dermatitis. Results were shared as an oral presentation during the American Academy of Dermatology Virtual Meeting Experience (AAD VMX) 2021. Tralokinumab is a high affinity, human monoclonal antibody that specifically binds to and inhibits the IL-13 cytokine, a key driver of atopic dermatitis signs and symptoms.2,3 It is an investigational therapy in clinical development, and its safety and efficacy are currently being evaluated by regulatory authorities. The interim analysis at 56 weeks in the ECZTEND trial (NCT03587805) showed tralokinumab 300 mg every other week plus optional topical corticosteroids (TCS) demonstrated long-term improvements in itch, sleep, and in atopic dermatitis signs and symptoms.1 Patients who had enrolled in pivotal Phase 3 trials ECZTRA 1 and 2 who continued into ECZTEND w

Merck Announces New Data Strengthening Evidence for Continued Safe and Effective MAVENCLAD ® Use During the COVID-19 Pandemic23.4.2021 15:11:00 CEST | Press release

Not intended for UK and U.S. based media Merck, a leading science and technology company, today announced a new analysis from the MAGNIFY-MS sub-study showing a specific immune repopulation pattern in patients with relapsing multiple sclerosis (RMS) treated with MAVENCLAD® (cladribine tablets), which may contribute to their ability to fight infections and develop protective antibodies from vaccines. The data were presented at the 2021 American Academy of Neurology (AAN) Annual Meeting that was held virtually 17-22 April 2021. In the MAGNIFY-MS study, reduction of memory B cells occurred as early as one month after MAVENCLAD initiation with lowest levels sustained for up to 12 months, while naïve B cells, which are typically required for the generation of antibody responses following vaccination, began recovering immediately. Previously shared data from MAGNIFY-MS indicated that patients receiving MAVENCLAD are able to mount responses to influenza and varicella zoster vaccines, irrespec

Xsolla Offers Exit Strategies to Game Studios for Exit Advising and Planning23.4.2021 15:00:00 CEST | Press release

Xsolla, the video game commerce company powered by its Transaction Engine and Business Engine to help developers and publishers market, sell, connect and optimize their games globally, has announced Xsolla Exit Strategies. The new service will connect development studios with financial and transaction advisors, guiding them through the process of selling their game property or studio, from due diligence preparation to exiting. The unveil of Xsolla Exit Strategies comes full circle from Xsolla Funding Club, launched March 2019, which provides matchmaking between vetted game projects and qualified investors. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210423005013/en/ Let Xsolla Exit Strategies match you with a financial and transaction advisor to help meet your exit goals. (Graphic: Business Wire) The gaming industry continues to flourish as demand is high for strategic partnerships and acquisitions for both game companies

Wipro Achieves Google Cloud Partner Specialization in Application Development23.4.2021 14:33:00 CEST | Press release

Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced that it has achieved the Google Cloud Partner Specialization in application development. This marks the fourth Partner Specialization badge that Wipro has received from Google Cloud, following recognition for outstanding cloud security, migration, and work transformation. This specialization demonstrates Wipro’s capabilities across multiple areas as a Google Cloud SI partner. As a trusted Google Cloud partner, Wipro can help customers leverage the best of Google Cloud platform as they develop and manage cloud-native business applications, enabling faster time to market, increasing scalability of applications and integrating them with external and internal systems in the IT landscape. This specialization will allow Wipro’s team of certified professionals to accelerate the customer modernization journey, increase agility and adapta

LEO Pharma Receives Positive CHMP Opinion of Adtralza ® (tralokinumab) for the Treatment of Adults With Moderate-to-Severe Atopic Dermatitis23.4.2021 13:59:00 CEST | Press release

LEO Pharma A/S, a global leader in medical dermatology, today announced that the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) has adopted a positive opinion and recommended granting a marketing authorization of Adtralza® (tralokinumab) for the treatment of moderate-to-severe atopic dermatitis in adult patients who are candidates for systemic therapy. The CHMP positive opinion is one of the final steps before the European Commission makes its decision on the Marketing Authorization Application for use of Adtralza, an investigational therapy in clinical development, throughout the European Union. This final decision is expected in the coming months and if authorized, Adtralza will be the first fully human, monoclonal antibody available to specifically target the IL-13 cytokine, a key driver of atopic dermatitis signs and symptoms. Adtralza specifically targets IL-13 with high affinity and is developed to improve the symptoms of atopic derma

Schlumberger Announces First-Quarter 2021 Results23.4.2021 12:50:00 CEST | Press release

Schlumberger Limited (NYSE: SLB) today reported results for the first-quarter 2021. First-Quarter Results(Stated in millions, except per share amounts)Three Months EndedChange Mar. 31, 2021 Dec. 31, 2020 Mar. 31, 2020 SequentialYear-on-yearRevenue* $5,223 $5,532 $7,455 -6% -30% Income (loss) before taxes - GAAP basis $386 $471 $(8,089) -18% n/m Net income (loss) - GAAP basis $299 $374 $(7,376) -20% n/m Diluted EPS (loss per share) - GAAP basis $0.21 $0.27 $(5.32) -22% n/m Adjusted EBITDA** $1,049 $1,112 $1,347 -6% -22% Adjusted EBITDA margin** 20.1% 20.1% 18.1% 0 bps 203 bps Pretax segment operating income** $664 $654 $776 1% -14% Pretax segment operating margin** 12.7% 11.8% 10.4% 88 bps 230 bps Net income, excluding charges & credits** $299 $309 $351 -3% -15% Diluted EPS, excluding charges & credits** $0.21 $0.22 $0.25 -5% -16% Revenue by Geography International $4,211 $4,343 $5,225 -3% -19% North America* 972 1,167 2,180 -17% -55% Other 40 22 50 n/m n/m $5,223 $5,532 $7,455 -6% -30%

ANAORI kakugama: The New Cooking Tool Shaking Up the Culinary World23.4.2021 12:30:00 CEST | Press release

Japanese brand ANAORI, a leader in manufacturing carbon graphite products, has developed a groundbreaking cooking tool that combines new technologies and natural materials in a unique design. In the coming weeks, renowned chefs from around the world will apply their expertise to showcase the potential of ANAORI kakugama. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210423005016/en/ ANAORI kakugama Watch the ANAORI kakugama video here ANAORI kakugama: The Culinary Tool Combining Tradition and Innovation The philosophy of ANAORI was born out of respect for Japanese culture, rooted in a tradition of living in harmony with nature. Naturality according to ANAORI means understanding the principles of nature without confronting it, multiplying its powers by means of minimal intervention, in order to best utilise it. The Japanese company unveils two ANAORI kakugama models in two different sizes, to cook with the rhythm of the seas