Slide 1: 9M20 Financial Results
9M20 FINANCIAL RESULTS December 15, 2020
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: 9M20 Highlights: Market largely outperformed
2 9M20 Highlights Market largely outperfomed Positive sales performance in the third quarter, reporting a +6.1% increase, despite new restrictions put in place by the Government due to the second wave of COVID-19. Before store closures, sales performance vs. last year was approx. +10%. 8.2% Italian
Slide 4: Key Income Statement Items – 3Q20
3 Key Income Statement Items – 3Q20 Positive Like-for-like performance • Top line recovery following the pandemic was fast and better than 3Q20 3Q19 Chg. Chg. % € mln expected, reflecting once again the role of the Group as a reference point for (A) (A) the daily needs of Italian families: stores tr
Slide 5: Key Income Statement Items – 9M20
4 Key Income Statement Items – 9M20 EBIT close to breakeven • 9M20 Net Sales amounted to €736.7m, down by 25.7% compared to the 31.10.2020 31.10.2019 Chg. Chg. % same period of last year and recovering vs. the -68% reported in the first € mln (A) (A) quarter and the -42% reported in the 1H20. Once t
Slide 6: Sales and EBITDA Performance in 9M20 by Brand
5 Sales and EBITDA Performance in 9M20 Both brands contributed to the strong recovery Net Sales (€mln) €mln 9M20 9M19 Chg. Chg. % Aggregate Performance Performance By Brand DOS & e-commerce 594.1 802.9 (208.8) (26.0%) Franchise & Marketplace 142.6 188.1 (45.5) (24.2%) Total 736.7 990.9 (254.2) (25.7
Slide 7: 31Oct20 Consolidated Trade Working Capital
6 31Oct20 Consolidated Trade Working Capital In line with last year despite the negative market conditions 31Oct20 31Oct19 €mln Trade Receivables 119.5 123.0 Inventory 432.5 419.7 Trade Payables (354.1) (347.3) Trade Working Capital 198.0 195.5 Note: TWC does not reflect the impacts related to the I
Slide 8: Capex decreased by €10.7m vs. 9M19
Given the focus on liquidity during the lockdown period, capex decreased by 7 €10.7m vs. 9M19 9M Capex breakdown (€m) Full Refurbishments–new project 12.7 7.7 7.0 New openings 5.3 8.9 Logistics, Corporate, IT 5.8 2.4 Digital Transformation 1.5 9M19 Total 9M20 €20.3m 9M20 Total 9M19 €31m
Slide 9: Consolidated Cash Flow Statement
8 Consolidated Cash Flow Statement Good working capital management and strong sales recovery limited the impact of lockdown €mln 3Q20 3Q19 €mln 9M20 9M19 EBITDA Adjusted 38.1 38.6 EBITDA Adjusted 40.1 101.1 Adjustments (2.5) (1.5) Adjustments (9.1) (3.8) Change in Trade Working Capital 33.9 3.4 Chan
Slide 10: Net Debt and Leverage
9 Net Debt and Leverage Sharp improvement vs. 1H20 € mln 31 October 2020 31 October 2019 Net Debt excluding MtM & IFRS16 356.9 395.2 Leverage on EBITDA (*) Adjusted Net Debt/EBITDA Adjusted LTM 3.7x 2.8x Leverage on EBITDA (**) Adj. Average last 12 months Net Debt/EBITDA 4.01x 2.98x Adjusted LTM Not
Slide 11: Introduction of Upim into men's clothing
10 Introduction of into men’s clothing
Slide 12: Market share trend: OVS top performer together with Amazon and Calzedonia
11 Market share trend: OVS top performer together with Amazon and Calzedonia Change in market share LTM June 2020 vs. LTM September 2020, basis points 16 15 14 8 8 8 3 0 (4) (11) (23) (34) Amazon OVS Gruppo Inditex Zalando Decathlon Piazza Benetton Conbipel Miroglio H&M Others Calzedonia Italia Mark
Slide 13: Outlook
12 Outlook • Starting from the third week of October Government restrictions put in place to maintain control over the second wave of the pandemic caused the closure of some stores in the Italian territory. November sales were impacted, albeit to a lesser extent than the first lockdown, by those res
Slide 14: Appendix
OVS Appendix
Slide 15: Consolidated Profit and Loss and related adjustments
14 Consolidated Profit and Loss and related adjustments of which of which 31.10.2020 31.10.2019 Adjustments, 31.10.2020 Adjustments, 31.10.2019 Chg. Chg. % € mln Reported Normalizations Reported Normalizations Adjusted Adjusted Pre IFRS16 & Reclass. Pre IFRS16 & Reclass. Net Sales 736.0 (0.7) 736.7