(Tiper Stock Exchange) – OVS extensiona clothing company listed on Euronext Milan, has registered net sales for the nine months (February-October 2022) equal to 1,086.8 million euro (+11.1% compared to 9M 2021 and +9.7% compared to 9M 2019). L’Adjusted EBITDA was 124.1 million euro, up by 19.6 million compared to 9M 2021 and by 23 million compared to 9M 2019, with a EBITDA margin to 11.4% (10.7% in 9M 2021 and 10.2% in 9M 2019). The Adjusted pre-tax result was 68.8 million euros (+59.2% compared to 9M 2021 and +58.9% compared to 9M 2019).
L’managing director, Stefano Beraldospeaks of a result “even more satisfactory if one considers on the one hand the month of October with sales penalized by the anomalous climatic trend, on the other the general concern about the trend in consumption and the increase in costs due to the of inflationary pressures”.
To protect margins, OVS has decided to keep the promotional pressure modest even in the weeks of low traffic of the month of October, while the increase in absolute terms of sales and gross margin made it possible to absorb the higher store costs, underlined the CEO.
“We are approaching the end of the year with evidence that our brands are benefiting from the general trading down of the market – he added – We are attracting new segments of consumers previously accustomed to higher positions, thanks to product innovations (Lead in primis), the renewal of our points of sale and investments in communication”.
There net financial position adjusted at 31 October 2022 it settled at 222.9 million euro (254.8 million at 31 October 2021 and 395.2 million at 31 October 2019). In the nine months, the company distributed dividends and purchased treasury shares for a total of 31.2 million euro.