OVS increases sales and profitability in H1

Net sales at OVS of 761.7 million euros, increased by 3.6 percent in the first six month period of 2024, despite unfavourable weather conditions in May and June due to the strong recovery during July.

The company achieved strong results in the young segment, with the B.Angel more than doubling sales in two years, while the beauty offering, characterised by excellent profitability, continues to grow strongly.

OVS said in a statement that EBITDA at 89 million euros, was up 3 percent and net income increased by 2.8 percent to 34.6 million euros.

Commenting on the current trading and outlook, the company added that all brands have started the second half of the year with very positive sales results and the month of August ended with a 7 percent increase in sales in directly operated stores.

September, which benefitted of a turning point of weather conditions towards autumn, with month-to-date sales growing double-digit, having a positive impact on both margins and cash generation.

“The new collections, enriched with many new proposals, are proving to be popular, and given the results achieved so far, we are optimistic about the performance of the current quarter and of the full year,” OVS said.