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 Directors of OVS has resolved to not renew the offer, which expires today, as the conditions to which it was subject have not been met.
Allocation of shares under the second cycle of the "2022-2026 Performance Share Plan"
With reference to the incentive plan named "2022-2026 Performance Share Plan" (the "Plan"), approved by the Shareholders' Meeting on May 31, 2022, and divided into three three-year cycles (2022-2024; 2023-2025; 2024-2026), the Company announces that - following the conclusion of the vesting period relating to the second cycle (2023-2025) of the Plan - the Board of Directors, having verified the fulfillment of the conditions for the assignment of shares to the beneficiaries identified by the Board on April 19, 2023, has determined the actual number of shares to be allocated to each beneficiary based on the level of achievement of the performance target.
Specifically, considering that the performance target was achieved at 100%, the Board of Directors resolved - for each of the 84 beneficiaries for whom the existence of the allocation conditions was verified - to approve the actual allocation of 100% of the maximum number of assignable shares.
The Chief Executive Officer was allocated no. 230,000 shares, and Executives with Strategic Responsibilities were allocated a total of no. 255,000 shares. The other beneficiaries were allocated no. 924,466 shares.
The number of beneficiaries, initially identified as 91, changed following the application of the provisions regulating "bad and good leavers" as set forth in the Information Document and the Regulation of the 2022-2026 Performance Share Plan.
For further information regarding the Plan, reference is made to (i) the press releases dated April 21, 2022, and May 31, 2022, (ii) the explanatory report on the fourth item on the agenda of the OVS Ordinary Shareholders' Meeting of May 31, 2022, and (iii) the information document prepared pursuant to Art. 84-bis of the Issuers' Regulation (Regolamento Emittenti). These documents are available on the Company's website https://www.ovscorporate.it (Governance/Shareholders' Meeting Section) and on the authorized storage mechanism "1Info" at https://www.1info.it.
The information required by Schedule No. 7 of Annex 3A to the Issuers' Regulation is attached to this press release.
For further information OVS S.p.A.Investor relations Investor.relations@ovs.it
Barabino & Partners Federico Steiner F.steiner@barabino.it+39 335424278
SECURITIES-BASED COMPENSATION PLANS Table 1 of Schedule 7 of Appendix 3A to CONSOB Regulation No. 11971/99Date: 04/02/2026
Name and Surname or category | Position (to be specified only for those indicated by name) | BOX 1 | ||||||
Financial instruments other than stock options | ||||||||
Section 2 New assignment instruments on the basis of the decision:
X of the competent body for the implementation of the shareholders' meeting resolution | ||||||||
Date of the Shareholders' meeting resolution | Type of financial instruments | Number of financial instruments assigned | Date of assignment | Purchase price (if any) of the instruments | OVS share closing price on Date of Assignment | Vesting period | ||
Stefano Beraldo | Chief Executive Officer | 31 May 2022 | OVS ordinary shares | 230,000 | 4 February 2026 | - | € 4.81 | 19 April 2023 (Right grant date) 4 February 2026 (Share Assignment Date) |
Managers with strategic responsibilities (4) | N/A | 255,000 | ||||||
Top management, employees, and contractors (79) | N/A | 924,466 | ||||||
The number of beneficiaries, initially identified as 91, changed following the application of the provisions regulating "bad and good leavers" as set forth in the Information Document and the Regulation of the 2022-2026 Performance Share Plan.