Ovs S.p.a. · MIL:OVS
Ovs — Q1 2021 Earnings Presentation
13 slides from Ovs's earnings presentation, Jun 17, 2021
Slide 1: 1Q21 Financial Results
1Q21 FINANCIAL RESULTS 1Q21 Financial Results - 17 June, 2021
Slide 2: Disclaimer
1 Disclaimer This presentation is being furnished to you solely for your information and may not be reproduced or redistributed to any other person. This presentation might contain certain forward-looking statements that reflect the Company’s management’s current views with respect to future events
Slide 3: 1Q21 Highlights
2 1Q21 Highlights Market largely outperformed and almost €40m of EBITDA recovery First quarter was still heavily impacted by lockdowns. Top line performance when stores were open has been strong: total net sales reached €229.6m, or +123.6% vs. 1Q20 and -27.7% vs. 1Q19, despite 36% of fewer trading h
Slide 4: Key Income Statement Items
3 Key Income Statement Items Recovery well underway • Net Sales amounted to €229.6m, up by 123.6% vs. 1Q20 and down by -27.7% vs. 1Q19, despite 36% of lower trading hours: the strong recovery vs. last year was largely expected, but the 30.04.2021 30.04.2020 Chg. Chg. % performance underlines the goo
Slide 5: 30Apr21 LTM EBITDA evolution
4 30Apr21 LTM EBITDA evolution Recovery well underway +€39.7m (or+54.5%) GM increase arising from: GM increase arising from: Proven flexibility on costs: • +123.6% of Sales • +264Bps vs.1Q20; • +€36.2m vs.1Q20; increase vs.1Q20; • -27.7% of lower sales • +94Bps vs. 1Q19. • -€28.4m vs. vs. 1Q19 despi
Slide 6: Aggregate Sales and EBITDA Performance in 1Q21
5 Aggregate Sales and EBITDA Performance in 1Q21 Net Sales (€mln) EBITDA (€mln) Dos&Siti Web 2.5% Aggregate Performance Franchising&Marketplace -33.2% 229.6 5.7 +124% 170.0 102.7 +116.7% 75.9 59.6 26.8 -34.0 30 April 2020 30 April 2021 30 April 2020 30 April 2021 Performance By Brand 3.0 2.6 +114% +
Slide 7: 30Apr21 Consolidated Trade Working Capital
6 30Apr21 Consolidated Trade Working Capital 30Apr21 30Apr20 Change €mln Apr21-Apr20 Trade Receivables 107.3 93.1 14.2 Inventory 438.5 442.5 (3.9) Trade Payables (294.7) (330.8) 36.1 Trade Working Capital 251.1 204.8 46.3 Trade working capital was €46.3m higher than a year earlier, gradually normali
Slide 8: Capex increased by €18.7m vs. 1Q20
7 Capex increased by €18.7m vs. 1Q20 reflects a normalization of the level of investments after a 2020 with extraordinary focus on liquidity management 0.7 OVS Full Refurbishments-new project 6.5 0.6 New Openings 5.1 0.4 IT and Digital Trasformation Stefanel (brand & 23 stores): €3.2m 2.3 Piombo bra
Slide 9: Consolidated Cash Flow Statement
8 Consolidated Cash Flow Statement €mln 1Q21 1Q20 EBITDA Adjusted 5.7 (34.0) Adjustments (2.0) € in million EBITDA 3.7 (34.0) Change in Trade Working Capital (23.4) (56.4) Other changes in Working Capital (25.0) (23.1) Capex (20.8) (2.1) Operating Cash Flow (65.5) (115.7) Financial charges (5.4) (5.
Slide 10: Net Debt and Leverage
9 Net Debt and Leverage After the pandemic, first tangible signals of Group deleverage € mln 30 April 2021 30 April 2020 Net Debt excluding MtM & IFRS16 474.9 428.8 Leverage on EBITDA (*) Adjusted Net Debt/EBITDA Adjusted LTM 4.22x 4.42x Leverage on EBITDA (**) 3.64x 4.07x Adj. Average last 12 month
Slide 11: Outlook
10 Outlook • Actions undertook by the Italian Government and the vaccination campaign are continuing to bring positive effects, with almost 50% of the entire Italian population having received at least one dose of vaccine. All stores are now open in Italy and we are convinced that our sector, which
Slide 12: Appendix
11 Appendix New OVS Refurbished store in Treviso
Slide 13: Consolidated Profit and Loss and related adjustments
12 Consolidated Profit and Loss and related adjustments of which of which 30.04.2021 30.04.2020 Chg. Chg.% Adjustments, 30.04.2021 Adjustments, 30.04.20200 € mln Reported Normalizations Reported Normalizations Adjusted (Adjusted) (Adjusted) Adjusted Pre IFRS16 & Reclass. Pre IFRS16 & Reclass. Net Sa