(Alliance News) - OVS Spa announced Thursday that it ended the fiscal year ended Jan. 31, 2024 with a reported net profit of EUR52.4 million, up from EUR39.6 million in the same period last year.

The board of directors proposed a dividend of EUR0.07 from EUR0.06 as of Jan. 31, 2023.

Net sales stood at EUR1.54 billion from EUR1.51 billion as of January 31, 2023.

The company explained that the performance was positively impacted by its best-ever fourth quarter results, with net sales of EUR433.1 million.

Adjusted Ebitda in the period was EUR359.5 million, up from EUR316.6 million in 2023. In the fourth quarter, adjusted Ebitda was EUR60.7 million.

Ebit stood at EUR126.9 million as of January 31, from EUR90.9 million in 2023.

Adjusted net financial position and leverage ratio continue to improve and, as of January 31, decreased to EUR145.5 million and 0.80x, respectively, after EUR47.8 million for dividend distributions and share buybacks.

In addition, the board of directors approved the extension of the buyback plan for an additional EUR20 million.

By Claudia Cavaliere, Alliance News reporter

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