OVS nine months net sales decline

Net sales at OVS S.p.A. for the first nine months of 2019, the company said, amounted to 990.9 million euros (1,104 million dollars), down compared to the first nine months of 2018 due to market contraction and lower purchases of goods in favour of a better quality of sales resulting in lower markdowns to the benefit of profitability in the third quarter. The company added that adjusted EBITDA was equal to 101.1 million euros (112.6 million dollars), 10.2 percent on net sales. In the last quarter, the gap with respect to the previous year, which amounted to 18.6 million euros at July 19, was recovered.