Ovs — Earnings Release 2024

Feb 11, 2025

PRELIMINARY RESULTS FISCAL YEAR 2024: ANNUAL SALES +6% AND FOURTH QUARTER IN FURTHER GROWTH, STRONG INCREASE IN FISCAL YEAR EBITDA

The Board of Directors of OVS has acknowledged the preliminary results for fiscal year 2024.

The autumn/winter season is concluding with better results than the already positive spring/summer season, leading the group to close the fiscal year with a growth in sales of approximately 6%.

The strong increase in third-quarter sales (+12.8%), was followed by growth of approximately 4% in the fourth quarter.

These results were supported both by the performance of sales at constant perimeter, positive for the fourth consecutive year, and by the development of the store network. Excellent performance of new projects, particularly those in the beauty and personal care segment which, in addition to being again in double-digit growth, is important for the cross-selling generated to the benefit of women's clothing.

The sales trend, combined with the improvement in the gross margin, more than offset the impacts of inflation on costs including, in particular, the effect of the increase in labor costs deriving from the application of the new collective agreement.

The fiscal year will therefore close with a significant increase in EBITDA.

Cash generation allowed for the stabilization of financial leverage around 0.8x even if during the year were distributed dividends for €25.3 million and were purchased treasury shares for €46.1 million.

Venice - Mestre, 11 February 2025

For further information Federico Steiner Investor Relations Barabino & Partners S.p.A. OVS S.p.A. F.steiner@barabino.it investor.relations@ovs.it

Tel. +39 335 42 42 78 Via Terraglio 17, 30174 Venice – Mestre

Disclaimer:

• It should be noted that the financial data presented in this press release is preliminary and have not been certified. The certified annual data will be reported following the meeting of the Board of Directors scheduled for 15 April 2025;
• The document may contain forward-looking statements relating to future events and OVS's operating, financial and income results. By their very nature, such forecasts include an element of risk and uncertainty, as they depend on the occurrence of future events and developments. Actual results may differ significantly from those announced due to a variety of factors.

OVS SpA

Registered office: Via Terraglio 17, 30174 Venezia Mestre, Italy T +39 041 2397500 F +39 041 2397630 Venice Companies Register No., Tax Code and VAT No. 04240010274

www.ovscorporate.it

Registered capital €290,923,470.00 fully paid up