The group’s profit before tax (PBT) was €24.1 million, up by €10.0 million, or 70.9 per cent YoY. The company’s EBITDA in the third quarter stood at €46.2 million, up by €11.1 million YoY, OVS said in a press release.
OVS SpA has reported net sales of €414.7 million (~$436.0 million) in Q3 of 2024, up 12.8 per cent YoY, with PBT at €24.1 million, up by 70.9 per cent YoY.
EBITDA rose to €46.2 million (+€11.1 million).
For 9M 2024, net sales hit €1,176.3 million (~$1,236.8 million), up 6.7 per cent YoY.
PBT in 9M period was €72.3 million up 20.4 per cent, and adjusted EBITDA reached €135.2 6million.
The group achieved net sales of €1,176.3 million (~$1,236.8 million) in the first nine months (9M) of 2024, up 6.7 per cent YoY due to an increase of 7.4 per cent YoY in directly operated stores and a 4.2 per cent increase in the franchising channel. Both the main brands, OVS and Upim, as well as Stefanel, achieved an extremely positive performance, in many cases accentuating the growth already registered in the first half of the year. PBT for 9M 2024 was €72.3 million, up by €12.2 million, or 20.4 per cent YoY.
Cash flow before dividend distribution and purchase of treasury shares increased by €8.0 million over 9M period last year. The group generated an adjusted EBITDA of €135.2 million, up by €13.7 million over the €121.5 million generated in the 9M 2023. The EBITDA margin improved by 50 basis points (bps) over the same period in 2023, reaching 11.5 per cent on sales. OVS registered €111.1 million (€10.2 million vs the same period in 2023) and Upim €29.3 million (€4.3 million vs the same period in 2023).
The EBITDA for the twelve months ending October 2024 was €196 million. The company purchased €42.7 million in treasury shares during the nine-month period.
Fibre2Fashion News Desk (SG)
