Ovs, profits jump by 75%. And the company also sees pink for 2023

MILAN – The sales of Ovs grow by double digits, the up to 75% profitand so the company led by Stephen Beraldo decided to pay one coupon of 6 cents per share, 50% more than the 2021 dividend.

And in detail, the fiscal year ending on 31 January 2023 closed with vnet sales up to 1,513 million euros (+11.3%) thanks to the positive contribution of all the brands, and in particular of Piombo, with traffic and average receipts in stores growing. The gross operating margin rose to 180.2 million (+22.4% on 2021), equal to 11.9% of sales, thanks to the fact that the wholesale margin (revenue minus costs) increased to 57.1%, (+0.4% compared to the previous year). In the last quarter of the year, which coincides with Christmas, but also with the sales, the gross operating profit even rose to 56.1 million (+31.5%).

L’Net income adjusted consolidated instead jumped to 78.4 million (+75.2% ). Despite investments in new openings and brands, such as Les Copains, for 80 million cash flows increased to 64.1 million. Having allayed the fears of the Pandemic, and with positive expectations also for the year that has just begun, the Italian clothing leader has therefore decided to propose to the shareholders’ meeting the payment of a dividend of 0.06 euros per share, an increase by 50% compared to the previous year.

“The results achieved to date, the multiple growth guidelines, the favorable market trend, combined with finally decreasing raw material costs, despite a context of still high inflation and tensions on consumers’ purchasing power – explains Beraldo – make us confident for a 2023 with positive economic and financial performances”,