ONTEX: No real transformation ONTEX BB
Last week, Ontex reported soft 1Q19 number while cutting its FY19 guidance. Furthermore, the much-anticipated strategic review did not render the expected results. We took the time to analyse the messages and update our model accordingly. Consequently, we cut our target price to € 16.5 (from € 18.0) and confirm our Hold.Ontex 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.
We are a financial services provider for several types of professional clients, each with distinct needs.
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