OVS Pushes Forward Golden Point Takeover as Q1 Profits Slide by 20%

The Italian group announces its intention to bring forward immediately the purchase of 100% of Goldenpoint, scheduled for 2029, of which it acquired 3% last year. Its ebitda is expected to be positive by the end of the year.

OVS has short-term and long-term debt 2.71% higher than in the same period of 2024.

Modaes

18 jun 2025 - 11:05

OVS has set its sights on Goldenpoint, the chain specializing in intimate apparel and lingerie that it bought last year in a deal that was to last until 2029, but which will finally be immediate.Along with its first-quarter accounts, the group announced that it will acquire 100% of the company.

The company, one of Italy's largest fashion distribution groups, acquired 3% of Goldenpoint last year, but the growing level of profitability is pushing it to bring the transaction forward imminently. The company expects the level of profitability of the recent acquisition to catch up with that of the group by the end of 2025.

OVS has stagnated its sales during the first quarter of 2025, with 354.4 million euros, two million more than in the same period last year. However, the group earned 20.79% less, eight million euros according to the accounts it published on Wednesday. Last year, its profit was 10.1 million.

OVS earned 20.79% less than in the same period last year, stagnating at eight million euros.

The ebitda decreased by more than one and a half million euros, 5.39% less than in the same period of the previous year. In addition, the group's short and long-term debt is 2.71% higher than in the same period of 2024. It has 261.1 million euros in commitments.

The group's strong bet is Goldenpoint. The group expects to achieve positive ebitda in the second quarter. The forecast is to record sales of between 50 and 60 million euros. At year-end, the chain's financial debt should be between 25 and 30 million euros.