Home » OVS leaps to + 5% in Piazza Affari after updating estimates for the current year and three years

OVS leaps to + 5% in Piazza Affari after updating estimates for the current year and three years

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Jump to over + 5% for the OVS stock, among the best today in Piazza Affari Yesterday the clothing group published an integration document for today’s meeting, at the request of Consob, in which it provides some details on the three-year plan and on the performance of the current year. “The qualitative indications over the 3 years are higher than our estimates in terms of revenues, with + 2.4% CAGR 2019-23 vs. our 0% (9% upside on 2023), which derives from sales at parity still below 2019 in 2023 (we are still 9% below) and development of the franchise and direct network.
Capex 2021-23 slightly above the 2018-20 levels (consistent with our 175 vs. 154 million) ”, the Equita SIM analysts remark today.

For 2021, the objective of strong sales recovery has been confirmed but remaining below 2019 levels. The group reports that the first months were
under budget due to the restrictions caused by the pandemic and led to cost interventions (break-even EBITDA was anticipated in 1Q21), while the first 26 days of May saw a strong recovery in sales, above budget levels .

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