Business
OVS S p A : ANOTHER YEAR OF SOLID GROWTH
OVS S p A : ANOTHER YEAR OF SOLID
About this update from Ovs S.p.a.
ANOTHER YEAR OF SOLID GROWTH SALES +7%, EXPECTED EBITDA +11% AND CASH GENERATION +20% Venice Mestre, February 4, 2026 Despite a market that remains weak, OVS continued to grow in the 2025 financial year, highlighting excellent performance across all key economic and financial indicators. Notes: Results as of January 31, 2026, are preliminary as they are not yet subject to financial closing and approval by the Board of Directors, scheduled for April 16, 2026. The data presented are also adjusted for the IFRS 16 accounting standard and for non-recurring events not related to core operations. Free cash flow is intended as adjusted and prior to dividend distribution, treasury share buybacks, and M&A (Goldenpoint). The 2025 financial year closes with an overall sales increase of around 7% (approximately +3% on the perimeter excluding Goldenpoint). The positive trend of the first nine months of the year was confirmed in the last quarter, which saw all brands grow, including on the like-for-like perimeter. The contribution from new projects was particularly strong, especially those involving women's clothing and beauty. Goldenpoint achieved an excellent result. Consolidated for 7 months, it saw a sales increase of approximately 10% over the comparable period. During the month of October, the first directly operated OVS store in India was opened inside a major shopping mall in New Delhi. Nearly four months after opening, we are seeing excellent results, comparable to performance in the best Italian shopping centers. Full year EBITDA is estimated between 216 and 218 million Euro, marking a growth of approximately 11%, thanks to the good performance of the commercial margin and despite cost inflation. The EBITDA margin also increased further. Cash generation increased by over 20% compared to the previous year, driven by EBITDA and working capital dynamics, with an excellent conversion rate. Outlook In a market that remains uncertain, we expect to be able to leverage the effects of the numerous projects implemented, relating both to the product realm and the impacts of digital innovation on operations. We will also benefit from some favorable external variables, such as the weakness of the dollar, which represents the main reference currency for our purchasing. Kasanova With reference to the binding offer aimed at obtaining 100% of Kasanova, the Board of Directo...