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OVS revenues jump compared to Q1 2020

By Prachi Singh

18 Jun 2021

Business

Image: OVS, Facebook

Total sales at OVS in the first quarter amounted to 229.6 million euros, up 124 percent compared with the same period in 2020. When compared to the performance in 2019, value declined by 27.7 percent. The company said, the month of May benefited from a progressive strong increase in sales, with double-digit growth compared to 2019.

Commenting on the first quarter results, the company’s chief executive officer, Stefano Beraldo said: I believe that the continued growth in our company’s market share, in the absence of new selling surfaces, is one of the most significant figures for this quarter.”

The company added that adjusted EBITDA came in at 5.7 million euros, recording a strong recovery compared with the loss recorded the previous year. EBITDA for the last twelve months totalled 112.6 million euros, up 54 percent.

The company further said, adjusted EBIT and pre-tax profit amounted to negative 8.2 million euros and negative 13.5 million euros respectively, reflecting, even if still negative, the recovery of profitability recorded at the EBITDA level.

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