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OVS OVS's market share continued to grow strongly Record EBITDA and cash generation in the second quarter ✓ Market share reached 9 % , up by nearly 100 bps in a year , due to the excellent performance of the like - for - like store network and online sales . Net sales for the quarter up by 35.4 % on the same period of 2020 and higher than 2019 by 11 % , even though restrictions were still in place during some weekends in May . Half - year net sales came in at € 599.2 million , up 59.5 % on 2020. Online sales through the ovs.it website increased by 30 % compared with 2020 and by 77 % compared with 2019. The loyal customer base has now reached 4.7 million ( + 12 % in one year ) , while numbers of customers purchasing both online and on the physical channel continue to grow . Adjusted EBITDA for the second quarter was € 54.5 million , up 50.9 % compared with € 36.1 million in 2020 and up 45.7 % compared with € 37.4 million in 2019. The excellent sales performance , good control of costs and careful management of mark - downs resulted in record EBITDA in the second quarter . Adjusted profit before tax for the quarter was also positive , at € 33.5 million . ✓ The adjusted net financial position was € 318.2 million , markedly lower than at 31 July 2020 , but also € 95.4 million lower than the pre - pandemic figure of 31 July 2019. The second quarter of the year saw cash generation of € 75.7 million , in addition to € 81 million deriving from the capital increase completed in July ( giving a total of € 156.7 million ) . CONSOLIDATED SECOND - QUARTER RESULTS New Piombo womenswear collection € mln 2Q 2021 Adjusted 2Q 2020 Adjusted Chg . Chg . % Net Sales 369.7 273.1 96.6 35.4 % Gross Margin 217.8 166.3 51.5 GM % 58.9 % 60.9 % 30.9 % ( 200ppt ) EBITDA 54.5 36.1 18.4 50.9 % EBITDA % 14.7 % 13.2 % + 151ppt EBIT 39.9 21.2 18.7 88.2 % EBIT % 10.8 % 7.8 % + 303ppt PBT 33.5 15.4 18.0 116.7 % Net Financial Position Market Share 318.2 410.6 92.5 22.5 % 9.0 % 8.1 % + 96ppt NB : in order to give a clearer picture of the Group's performance , the data in this document have been adjusted . In particular , the adjusted figures exclude the accounting effects of IFRS16 . See below for more information . 1H21 Financial Results 1