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Ontex Group NV reported its Q3 2021 results, achieving revenue of €512 million, stable on a like-for-like (LFL) basis compared to the prior year and a 2% sequential increase. Cost inflation and supply chain disruptions significantly impacted adjusted EBITDA, which fell to €40 million, down 29.9% year-on-year, leading to an adjusted EBITDA margin of 7.8%. Net debt slightly decreased to €837 million. Strategic priorities emphasize cost reduction, category focus, and sustainability efforts, with a revised FY 2021 outlook forecasting a LFL revenue decline of approximately 1% and an adjusted EBITDA margin around 9%.
Ontex Group NV has finalized a settlement with Hypera S.A. for 500 million Brazilian Reais (€81 million), following earlier agreement on September 15, 2021. This settlement resolves claims from the acquisition of Hypera's Brazilian personal hygiene business in March 2017, valued at 1 billion Brazilian Reais. After deducting arbitration costs of approximately €7 million, Ontex plans to utilize the remaining funds to reduce debt and leverage. The cash flow aligns with Ontex's strategy to enhance financial stability.
Ontex Group NV has settled claims with Hypera S.A. regarding the acquisition of Hypera's Brazilian personal hygiene business. Under the agreement, Ontex will receive 500 million Brazilian Reais (approximately €81 million) by October 1, 2021. This settlement concludes arbitration initiated by Ontex and aims to reduce debt, aligning with the company's strategy to decrease leverage.
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