Ontex : Things are improving with disposal proceeds supportive but Ontex still risky
>2Q22 recap: All about Mexico - Ontex printed a relatively soft 2Q22 on the margin side, but saw quarterly revenues beat consensus by 6% following an acceleration in pricing. Needless to say, most attention went to Ontex announcing plans to sell its Mexican business for a fairly good (and better than we expected) price of € 285m (excluding corporate costs: 10x LTM EBITDA and ~9% LTM EBITDA margin; AAOBe ~8.5x FY23 EBITDA including corporate costs), which we estimate s...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.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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