OVS drops after the quarter

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Oviesse garibaldiOVS left with 36% on the ground with 0.758 euros, after being suspended due to an excessive decrease during most of the day.

The company published the results for the first nine months of the financial year 2018/2019 (the company closes the financial statements on 31 January), with net income (excluding the contribution towards the Sempione Fashion Group) for 1.01 billion euros. . euro, a decrease of 1.4% compared to the 1.02 billion achieved in the same period of the previous year. The top management of the company pointed out that sales in exceptionally warm September and October were damaged, effectively preventing the start of the new season. OVS closed the reporting period with an adjusted profit before taxes of € 51.2 million, a sharp decrease compared to the € 91.5 million booked in the first nine months of 2017/2018. The management of OVS does not find it possible to restore the performance lost in the third quarter by the end of the year and, moreover, if there are no significant trends in trends from now on, the fourth quarter will also be lower than the previous quarter. . period of the previous year.

During the conference call to comment on the quarterly results, the heads of OVS pointed out that the company does not need a capital increase.

The quarterly OVS has been rejected by analysts. Equita Sim has removed the target price from the company, from € 5 to € 1.5, as a result of the reduction in the profit forecast for the 2018/2019 financial year; the experts have also been worsened by "Buying" (buying) to "hold" the judgment. Kepler Cheuvreux limited itself to lowering the OVS target price, from 3.3 euros to 1.7 euros, after the decrease in earnings per share for the years ending in 2019 and 2020; however, the experts confirmed the designation of the purchase of the shares.

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