Q3 2019 OVS SpA Earnings Call Transcript
Good afternoon. This is the Chorus Call conference operator. Welcome, and thank you for joining the OVS 9 months 2019 Financial Results Conference Call. (Operator Instructions) At this time, I would like to turn the conference over to Mr. Stefano Beraldo, Chief Executive Officer of OVS. Please go ahead, sir.
Thank you. Good afternoon to everybody.
It has been a good quarter and several positive things happened in this quarter. First of all, we had a much better quality of sales which boosted margins, thanks to lower markdown activity both in the sales period, like August, and also during the period of the quarter, also in the other months. We had a very good and very consistent cash generation, which generated an improvement of EUR 31 million, which became EUR 49 million once we exclude from the comparison the nonrecurrent cash generation happened in the same quarter of last year due to the disposal of the headquarter for EUR 18 million. So the real improvement is about EUR 49 million on a
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