Ontex - Sales prices turning negative
• Q3 23 is expected to show solid LFL sales growth, strong EBITDA growth and a further improvement of the leverage.• However, as we expect sales prices to turn negative in Q4 we have lowered our estimates while staying within the guided range. • We maintain our Hold, but on the back of our new estimates and market sentiment we lower our TP from EUR 9.0 to EUR 8.5Ontex Group NV is a Belgium-based company, which operates in the manufacturing sector of industry. The Company is a producer of disposable personal hygiene solutions for babies, women and adults. It offers a range of such products as baby diapers, baby pants, baby wet wipes, pads, pantyliners, tampons, light incontinence products, pull-ups, belt diapers, all-in-one tape systems, shaped pads and underpards. Its products are distributed through retail partner brands, as well as under its own brands (canbebe, canped, Helen Harper, Moltex, Baby Charm) across several distribution channels, such as retail trade, care institutions and pharmacies. The Company is present in Europe, Northern Africa, Australia and Asia.
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