OVS communicated the results of the 2023/2024 financial year (the company closes the financial statements on January 31st), closed with net sales for 1.54 billion euros, an increase of 1.5% compared to the 1.51 billion achieved in the previous year, despite exceptionally unfavorable weather which penalized the clothing market at both starts of the season. Also improving adjusted gross operating margin, which went from 180.2 million to 182.2 million euros (+1.1%); there marginality it remained stable at 11.9%. OVS finished the 2023/2024 financial year with a adjusted net profit of 75.9 million euros, down compared to the 78.4 million recorded in the previous year; the reported final result was 52.4 million euros.
At the end of January 2024 lreported net debt of the group had decreased to 1.14 billion euros compared to 1.21 billion at the beginning of the year. Over the entire financial year, OVS’s operational activities generated a cash flow of 64.3 million euros.
OVS management plans for 2024/2025 further growth in sales compared to the financial year just ended; management has reported that sales since the beginning of the financial year have increased by approximately 5% compared to the same period of 2023/2024. Furthermore, management expects that the expected increase in labor costs due to the renewal of the national contract will be offset by improved sales combined with a better margin.
The leaders of OVS have proposed to distribute a 2024 dividend (relating to the 2023/2024 financial year) equal to 0.07 euros per share. The coupon detachment is set for Monday 24 June 2024, with payment starting from 26 June.
This writing is written for informational purposes only, can be modified at any time and cannot be considered a solicitation for public savings. The website does not guarantee the correctness and does not assume responsibility for the use of the information contained therein.
