reports
- ING Helpdesk
Benelux Morning Notes
Aperam: In-line 1Q24 EBITDA, FCF marked by WC build, 2Q24 guidance below consensus. Ayvens: Taking the brakes off. BAM: Not the best start to the year. bpost: 1Q24 in line with consensus but beat vs INGF, no outlook yet. Brunel International: good set of 1Q24 results – 5% beat on EBIT, comforting trends. B&S Group: Preview - should be a non-event. DEME Group: Preview - should be a non-event. D'Ieteren: Febiac April registrations flat YoY, VW brands up 8.4%. GBL: NAV per share in ...
- Hilde Van Boxstael
- Jacob Mekhael
- Michiel Declercq
- Sharad Kumar S.P
- Wim Hoste
- Wim Lewi
- Robert Jan Vos
- Salome Charamalet
Ontex : Getting stronger and better
>+100bps of adjusted EBITDA margin vs FY2023 - Overall in Q1 2024, Ontex realised € 551.3m in sales which is 2% lower with consensus and 15% lower than Q1 2023 (lfl: +3%). For Core markets (continued operations) revenue, there was a 0.5% beat on consensus (css: € 458m) and 3% higher than Q1 2024 (lfl: +4%). The last includes a volume and mix of +5% yoy driven by double digit in selected categories in North America, largely based on new contracts signed in H2 2023 and ...
- Wim Hoste
Ontex FIRST LOOK: 1Q beating on top line & EBITDA, FY guidance maintai...
Ontex posted stronger than expected 1Q results, with 4% LFL revenue growth and adjusted EBITDA that increased by 30% y/y, beating our and consensus forecasts by respectively 9% and 8%. FY guidance of an adjusted EBITDA range of 11-12% is maintained, with 1Q margin already firmly within the range (11.5%). The balance sheet is gradually strengthening with net debt/EBITDA down 0.5x sequentially to 2.8x. On the back of the much improved earnings momentum, solid growth prospects/ambitions in North Am...
Strong Q1 2024 results with continued revenue growth and margin improv...
Strong Q1 2024 results with continued revenue growth and margin improvement Revenue grew 4% like for like, driven by volumes in North America;Adjusted EBITDA margin rose 2.4pp to 11.5%, fueled by cost transformation program;Leverage ratio reduced from 3.3x to 2.8x over quarter;Full year outlook confirmed. Q1 2024 results Revenue [1] was €460 million, up 4% like for like. Volume and mix was up 5%, driven by double-digit growth in North America and other selected categories. Prices were down slightly on the basis of lower raw material prices. Including slightly adverse forex, revenue grow...
Sterke resultaten in het 1ste kwartaal van 2024 met voortzetting van o...
Sterke resultaten in het 1ste kwartaal van 2024 met voortzetting van omzetgroei en margeverbetering Omzet groeide 4% op vergelijkbare basis, dankzij volumes in Noord-Amerika;Aangepaste EBITDA-marge steeg met 24,4 procentpunt tot 11,5%, aangedreven door het kostentransformatieprogramma;Hefboomratio daalde van 3,3x tot 2,8x over het kwartaal;Vooruitzichten voor het hele jaar zijn bevestigd. Resultaten van het 1ste kwartaal van 2024 De omzet [1] bedroeg 460 miljoen €, een stijging van 4% op vergelijkbare basis. Volume en mix leidde tot een stijging van 5%, dankzij een dubbelcijferige g...
- Fernand de Boer
Ontex - A strong start to the year
LFL sales growth and EBITDA of continuing activities exceeded our and CSS estimates. In addition, for the first time since 2017 (Pre-IFRS 16), leverage dropped to below 3x. Guidance unchanged on sales growth and margins, where it could be argued that there is room to raise. However, we understand management remains cautious as market conditions stay challenging. We reiterate our Buy rating and TP of EUR 13.50
- Fernand de Boer
Ontex - EPS growth and deleverage to drive share price
On May 3, we expect Ontex to publish its 7th consecutive quarter of EBITDA growth. More importantly, we expect this strong trend to continue. The increase in EBITDA and lower financial charges should result in strong earnings growth.Deleverage is expected to continue and will get another boost from the expected sale of its Brazilian and Turkish activities. The improved financial position should also allow for a smooth refinancing exercise. Given this all, we expect a further rise in the share pr...
Ontex announces details for its Q1 2024 results publication
Ontex announces details for its Q1 2024 results publication Aalst, Belgium, April 12, 2024 – Ontex Group NV, a leading international provider of personal care solutions, will share its results for the first quarter of 2024 at 07:00 CEST / 06:00 BST on Friday, May 3, 2024. Management will host a webcast for investors and analysts on the same day at 12:00 CEST / 11:00 BST. Click on the following link to attend the presentation from your laptop, tablet or mobile device: . A replay of the webcast will be available at the same link shortly after the conclusion of the live presentation, and re...
Ontex kondigt details aan voor de resultatenpublicatie van het 1ste kw...
Ontex kondigt details aan voor de resultatenpublicatie van het 1ste kwartaal van 2024 Aalst, België, 12 april 2024 – Ontex Group NV, een toonaangevende internationale leverancier van oplossingen in persoonlijke hygiëne, zal zijn resultaten van het eerste kwartaal van 2024 delen om 07:00 uur CEST / 06:00 uur BST op vrijdag 3 mei 2024. Het directiecomité zal op dezelfde dag een webcast voor investeerders en analisten opzetten om 12:00 uur CEST / 11:00 uur BST. Klik op volgende link om de presentatie bij te wonen vanop uw laptop, tablet of mobiel apparaat: . Deze webcast zal in het Engels plaa...
- Carole Braudeau
- Carole Braudeau
Ontex publishes annual report and convenes its annual general sharehol...
Ontex publishes annual report and convenes its annual general shareholders’ meeting Aalst, Belgium, April 3, 2024 – Ontex, a leading international developer and producer of hygienic products and solutions, today publishes its 2023 integrated annual report and related documents and convenes its annual general shareholders’ meeting to be held at its headquarters in Aalst, Belgium, on May 3, 2024. The integrated annual report, which relates to the period between January 1, 2023 and December 31, 2023, reports on Ontex’s financial, environmental, social and governance data for that period, as...
- Carole Braudeau
Credit Morning 04/02/2024
S&P upgrades Masmovil’s rating to BB/stable from B/cw positive Altice France: S&P cuts the rating tp CCC/developing from B-/stable Rallye and holding companies: opening of compulsory liquidation proceedings Imerys has entered into exclusive negotiations with Flacks Group for the contemplated divestment of its assets serving the paper market.>...
- Carole Braudeau
Morning Crédit 02/04/2024
S&P relève le rating de Masmovil de B/cw positive à BB/stable Rallye et ses holdings vont solliciter l’ouverture d’une procédure de liquidation judiciaire Imerys : entrée en négociation exclusive avec le groupe Flacks en vue de la cession de ses actifs servant le marché du papier. Altice France : S&P dégrade le rating de B-/stable à CCC+/developing>...
Ontex completes the divestment of its Algerian business
Ontex completes the divestment of its Algerian business Aalst, Belgium, April 2, 2024 – Ontex, a leading international developer and producer of hygienic products and solutions, announces that it has completed the divestment of its Algerian business to Hygianis SPA, its local distributor for more than 20 years. The transaction includes Ontex’s production facility and business in Algeria, as well as related exports to certain neighboring countries. Gustavo Calvo Paz, CEO of Ontex, said: “With this transaction, we make further progress in becoming the number one trusted partner for retail a...
Ontex Group NV: 1 director
A director at Ontex Group NV bought 2,500 shares at 8.350USD and the significance rating of the trade was 52/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly ...
- Michael B. Schäfer
- Michael B. Schäfer
- Robert Jan Vos
- Salome Charamalet
Ontex : Cloudy revenues do not overshadow margin progression
>FY 2024 growth to be driven by NA, though it remains a small business - On top line, we expect Ontex to face two different trends in 2024, namely: 1) prices being lowered, following pressure from customers and 2) volumes increasing in Core Markets, especially in North America following contract gains, supported by the further development of their two plants. For 2024, Ontex expects low single-digit revenue growth for Core Markets, with low/no growth in Europe and str...
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