Growing numbers in 2025 for OVSThe group closes the financial year with sales of 1,74 billion euros, up approximately 7% compared to the previous year and slightly above market expectations of around 1,73 billion. At constant scope, net of Goldenpoint, growth is around 3%. The positive trend recorded in the first nine months of the year is also confirmed in the last quarter, with all the signs in progress within the like-for-like framework. The contribution of new projects, particularly in women's clothing and beauty, is crucial.
The EBITDA is estimated between 216 and 218 million euros, up approximately 11%, thanks to the improvement in the trade margin despite cost inflation. The pace of the cash generation, which recorded an increase of more than 20%, supported by EBITDA and efficient working capital management.
On the outlook frontThe group acknowledges a still uncertain market context but is confident in the impact of the projects launched and in the support of some favorable external variables, starting with the weakness of the dollar, the main reference currency for purchases.
Piazza Affari applauds the numbers
Piazza Affari applauds the numbers. The Ovs title The stock opened up 2,5% in Milan (and is trading positive), reaching intraday gains of around 4%, a sign of a clear appreciation for the quality of its financial statements and operating momentum. Preliminary guidance for 2025 was deemed constructive by several analysts, who emphasized that sales, profitability, and cash flow were above expectations, confirming the solidity of the business model. Assessments remain divided: some see room for further upside thanks to good post-pandemic execution, while others maintain a more cautious approach, citing the risks associated with a potential weakness in consumer spending.
The Kasanova operation falls through: here's why
Alongside the accounts, the group has definitively clarified the fate of the Kasanova operationThe board of directors has resolved to to lapse the binding offer for the acquisition of 100% of the chain specializing in household goods, which is expiring in these very days. The decision is linked to the failure to meet the conditions precedent set out in the agreement, in particular upon completion of the investigation and decision-making procedure by the banks.
In January, OVS had already reported longer-than-expected timeframes, granting an extension that, however, was not sufficient to unblock the dossier.
Strategy confirmed, options open
The stop to Kasanova is interpreted by the market as a choice of financial discipline, consistent with the group's focus on earnings quality and cash generation. The transaction involved the subscription of a capital increase of up to 15 million euros, in a complex context marked by the negotiated crisis resolution procedure initiated by Kasanova in 2024.
For OVS the renunciation does not definitively close the door to extraordinary operations, but postpones any moves until conditions are deemed more favorable. In the meantime, the focus remains on organic growth, strengthening existing brands, and international expansion, as demonstrated by the initial positive results from the direct debut in India.
