The Board of Directors of OVS S.p.A. approved the results for the first nine months 2015

Accelerating growth for OVS

• Sales growth accelerated in the third quarter, bringing 9M15 sales to €948.7 million (+8.2% vs. 9M14) and reflecting both a positive like-for-like trend and the development of the network, which in the last nine months increased by 28 directly managed full-format stores, and a larger number of other stores, mainly small-format kids operated under franchise.
• EBITDA came in at €118.2 million, representing 12.5% of net sales, up by €16.4 million, or 16.1%, and by around 90 bps as a percentage of sales compared with the same period of last year. Market share grew again (6.85% at September 2015), by around 60 bps compared with the same period of the previous year and by around 20 bps on the figure reported for the half-year.
• Profit before tax of €64.3 million, up €60.5 million compared with the first nine months of 2014, partly due to the substantial decrease in financial expenses after the IPO.
• The net financial position (-€304.5 million) also decreased substantially, thanks to sound operational management, and also reflects the typical seasonal changes in cash generation by the business and the listing process, which ended on 2 March 2015 and resulted in a net capital increase of €349.1 million.