OVS posts strong sales and profit growth

Third quarter net sales at OVS of 414.7 million euros increased by 12.8 percent driven by favourable weather and a high conversion rate. Net sales for the nine month period of 1,176 million euros, were up by 6.7 percent.

The company said in a release that the positive reception of Stefanel fall-winter collections, driven by its new creative leadership, has successfully reversed the negative trend of the first semester in just three months

The company added that the women's market continues to be the primary growth driver with a strong performance of kids and men.

Third quarter EBITDA of 46.2 million euros increased by 31.7 percent and EBITDA margin increased to 11.1 percent. Profit before tax of 24.1 million euros was up 70.9 percent.

EBITDA for the nine months of 135.2 million euros, increased by 11.3 percent and profit before tax of 72.3 million euros increased by 20.4 percent.

OVS further said that the robust performance resulted in last twelve months net sales and EBITDA reaching 1.609 million euros and 196 million euros, respectively.

In light of the fourth quarter trend, the company expects solid growth in turnover and EBITDA for the entire fiscal year. OVS also confirmed its interest in divesting a portion of Conbipel retail network, but not in the brand or the entire company.