The Board of Directors of OVS approved the results for the first half of February – July 2022.
The balance shows that net sales for the half year rose to € 705.8 million (+ 17.8% compared to the first half of 2021 and + 8.5% compared to the first half of 2019). In particular, in the second quarter of the year net sales amounted to € 405.9 million (+ 9.8% compared to the second quarter of 2021 and + 21.9% compared to the second quarter of 2019).
Adjusted EBITDA for the half year was € 82.3 million, up € 22.2 million compared to the first half of 2021 and € 19.8 million compared to the first half of 2019; the EBITDA margin stood at 11.7%, was 10.0% in the first half of 2021 and 9.6% in the first half of 2019.
The adjusted net result for the half year was € 31.9 million, was € 13.0 million in H1 2021 and € 16.8 million in H1 2019.
The adjusted net financial position at 31 July 2022 was € 228.7 million, was € 318.2 million at 31 July 2021 and € 413.6 million at 31 July 2019.
OVS announced that “in the half year the company distributed dividends and purchased treasury shares for a total of € 23.2 million” and highlighted in terms of ESG that, for the second consecutive year, OVS ranks first in the ‘Fashion transparency index 2022’ as the company most attentive to transparency in the world in the clothing sector.
The OVS note also states that “the Board of Directors, in execution of the authorization to purchase treasury shares issued by the Shareholders’ Meeting on May 31, 2022, resolved to continue with the implementation of the treasury share purchase program for an amount up to a further € 20 million.