Ontex FY 2018: Resilient performance in a challenging environment

Financial News
  • Enhanced geographic and product portfolio drove solid LFL revenue growth
  • Resilient Adj. EBITDA margin at constant currency through savings and price/mix actions
  • Execution of turnaround plan in Brazil well on track

Aalst-Erembodegem, March 8, 2019 - Ontex Group NV (Euronext Brussels: ONTEX; ‘Ontex,’ ‘the Group’ or ‘the Company’) today announced its results for the twelve months ending December 31, 2018.

FY 2018 Financial Highlights

  • Reported revenue of €2.29 billion (€2.39 billion at constant currency)
        . Like-for-like (LFL) revenue growth of 1.7% thanks to improved pricing and mix
        . Increased pricing more than offset volume decrease
        . Brazil revenue in local currency grew sequentially each quarter in 2018
  • Adjusted EBITDA of €234 million (€261 million at constant currency)
        . Adjusted EBITDA margin of 10.9% at constant currency
        . Adjusted EBITDA margin of 10.2%; 11.0% excluding Brazil
        . Brazil Adjusted EBITDA improved sequentially each quarter of 2018
  • Adjusted EPS of €1.35 included structurally lower finance costs and lower tax expenses
  • Proposed gross dividend of €0.41 per share, in line with Ontex’s policy to pay out 35% of net profit

Significant progress in addressing our 2018 priorities

Focus on profitability of core business: Pricing to mitigate raw material headwinds, enhanced mix and savings program
More competitive growth portfolio: Further acceleration of pants, first expansion in US retailer brands and in organic tampons
Sustainable improvements at Ontex Brazil: Baby diaper brands relaunched and production concentrated on one site

View complete report

Source: Ontex

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