Ovs S.p.a. · MIL:OVS
Ovs — H1 2026 Earnings Presentation
16 slides from Ovs's earnings presentation, Sep 23, 2026
Slide 1: H1 2026 Financial results
H1 2026 Financial results 23 September 2026 A conference call with analysts and investors will take place on the 24 September 2026 at 12:00, local time. The conference call can be accessed via the following link: https://services.choruscall.it/DiamondPassRegistration/register?confirmationNumber=5668
Slide 2: First Half 2026 highlights and current trading
FIRST HALF 2026 > Strong growth in the period Net sales +11%, EBITDA +12%, EBITDA margin 13.0% > Goldenpoint integration progressing successfully Double-digit sales growth and positive EBITDA > Net debt €53.6M improvement CURRENT TRADING > Based on current trading, management expects also second hal
Slide 3: Agenda
AGENDA H1 2026 Financial results Current trading e Outlook Appendix
Slide 4: H1 2026 Income Statement
H1 2026 Income Statement Very positive trend across all the group's brands alongside excellent operational effectiveness Organic perimeter(1) H1 2026 H1 2025 • Net sales +6.1% vs. H1 2025 (vs. +1.5% reference market); €m Change Adjusted Adjusted Q2 2026 maintained an excellent growth of +4.9%; Net S
Slide 5: H1 2026 Sales and EBITDA Performance
H1 2026 Sales and EBITDA Performance OVS and Upim continue their growth trajectory. Stefanel +31% (of which +11% like-for-like), accelerating its turnaround process. Goldenpoint: Net sales +11%(1) vs. H1 2025 and positive EBITDA (ca. +€4m(1) vs. H1 2025). Net sales (€m) Adjusted EBITDA (€m) and EBIT
Slide 6: July 2026 Trade Working Capital
31 July 2026 Trade Working Capital Trade working capital as at 31 July 2026 improving versus 31 July 2025 in a context of business growth Trade working capital is improving in a context of business 31 July 2026 31 July 2025 growth as the net result of: €m Change Adjusted Adjusted • Trade Receivables
Slide 7: H1 2026 Capital Expenditures
H1 2026 Capital Expenditures Solid balance sheet and positive cash profile are driving higher investments in store expansion and digital transformation OVS flagship store, Dubai H1 2025 33.2 New openings H1 2026 and refurbishments 35.9 5.9 IT and Digital Trasformation 7.7 Logistics, 4.5 headquarter
Slide 8: H1 2026 Cash Flow
H1 2026 Cash Flow Net Cash Flow recorded a €15.3 million improvement versus H1 2025 €m H1 2026 H1 2025 Change EBITDA Adjusted 114.3 101.7 12.5 • H1 2026 Net cash flow shows a cash absorption Non recurring items (0.4) (1.0) 0.6 in line with the typical seasonality of the Change in Trade Working Capit
Slide 9: July 2026 Net debt and Leverage
31 July 2026 Net debt and Leverage Both the Net debt and the Leverage ratios closed with an improvement versus 31 July 2025 €m 31 July 2026 31 July 2025 Change • Adjusted Net Debt at €240.1 million, improved by €53.6 Net Debt adjusted million YoY, driven by strong cash generation that fully 240.1 29
Slide 10: Agenda
AGENDA H1 2026 Financial results Current trading e Outlook Appendix
Slide 11: Outlook and Current trading
Outlook and Current trading > Apparel market is showing good resilience despite inflationary pressures; > Collection and brand initiatives, alongside banner development, are sustaining sales momentum; > Response to fall collections is very good; H2 2026 sales to-date are in line with those of last t
Slide 12: Agenda
AGENDA H1 2026 Financial results Current trading e Outlook Appendix
Slide 13: Store network as at July 2026
Store network as at 31 July 2026 Italy International Total 31 July 2026 DOS Franchising Total DOS Franchising Total DOS Franchising Total OVS 555 230 785 10 81 91 565 311 876 Upim 189 197 386 - 10 10 189 207 396 Stefanel 33 41 74 - 37 37 33 78 111 Shaka 9 1 10 - - - 9 1 10 GAP 9 - 9 - - - 9 - 9 Full
Slide 14: Reconciliation between Adjusted and Reported Profit and Loss and Net financial position
Reconciliation between Adjusted and Reported Profit and Loss and Net financial position of which of which Reclass Reclass 31 Jul 2026 of which of which Stock Option, 31 Jul 2026 31 Jul 2025 of which of which Stock Option, 31 Jul 2025 €m income from income from Reported IFRS 16 Impact non recurring D
Slide 15: Reconciliation between Adjusted and Reported Profit and Loss and Net financial position
Reconciliation between Adjusted and Reported Profit and Loss and Net financial position Table on the previous page shows adjusted results in order to represent the group's operating performance net of the effects deriving from the application of the IFRS 16 international accounting standard, as well
Slide 16: Disclaimer
Disclaimer This presentation is being provided to you solely for information only and may not be reproduced or redistributed to any other person. This presentation may contain certain forward-looking statements that reflect the current views of the Company’s management with respect to future events