ONTEX GROUP NV UNSP/ADR - ONXYY STOCK NEWS

Ontex has announced the results of its field study on the Orizon digital incontinence care solution conducted in a German nursing home. The study revealed a time savings of 3.2 hours for caregivers daily while caring for 10 residents. Additionally, the implementation reduced nighttime disturbances for residents, allowing them better sleep and comfort. Notably, there was a 100% reduction in leakages, which minimized the need for product changes and bedding alterations. Ontex aims to launch the Orizon service across Europe by late 2022 or early 2023, capitalizing on its established brand reputation.

Ontex reported Q1 revenue of €385 million, a 13% increase year-on-year, driven by 11% volume growth and 2% price increases. Adjusted EBITDA fell 49% to €21 million, reflecting cost inflation pressures. The group’s total revenue reached €553 million, up 15%, but adjusted EBITDA decreased by 50% to €25 million. Net debt rose to €833 million, increasing the leverage ratio to 5.7x. Ontex anticipates high single-digit revenue growth for the full year but warns of rising operational costs estimated at €200 million compared to previous forecasts.

Ontex Group NV has confirmed ongoing preliminary discussions with American Industrial Partners regarding a potential business combination with Attindas, AIP's portfolio company. As these discussions are in the early stages, no agreement regarding structure or terms has been finalized, and the company cautions there is no certainty of an eventual agreement.

Ontex is a leader in personal hygiene solutions, operating in over 110 countries with a workforce of approximately 9,000 employees. The company remains committed to informing the market as required.

Ontex Group NV (OTC-PINK:ONXYY) held its annual general meeting (AGM) where shareholders approved all proposed resolutions. Key decisions included the reappointment of Inge Boets as an independent director and the appointment of Ebrahim Attarzadeh and Paul McNulty as new non-executive and independent directors, respectively, for four years. These appointments were recommended by the Remuneration and Nomination Committee and supported by reference and smaller shareholders. Minutes from the meeting can be found on the company’s website.

Ontex Group NV will release its Q1 2021 results on May 12, 2022, at 07:00 CET, followed by a webcast for investors at 14:00 CET. Following its strategic review, Ontex will restructure its reporting to focus on 'Core Markets' and 'Emerging Markets.' The company plans to divest its Emerging Markets operations, now reported as discontinued. Restated revenue for Core Markets was €339.9 million in Q1 2021, and total group revenue reached €479.7 million. Adjusted EBITDA for Core Markets was €41.2 million, with an EBITDA margin of 12.1%. For more details, visit their website.

Ontex Group NV (OTC-PINK:ONXYY) has published its 2021 integrated annual report, highlighting a strategic shift under new leadership aimed at enhancing agility and efficiency. The report reveals a 40% reduction in carbon emissions from operations compared to 2020. CEO Esther Berrozpe emphasized a renewed corporate culture focused on performance and sustainability, with plans to achieve carbon neutrality by 2030. The company will hold its annual shareholders’ meeting on May 5, 2022, at its headquarters in Aalst, Belgium.

Ontex Group NV has disclosed a significant shareholding notification as required by Belgian law. CIAM has reported holding 2,463,474 voting securities, equivalent to 2.99% of Ontex's total voting rights, having crossed below the 3% threshold on November 10, 2021. The notification was declared on February 21, 2022, and indicates CIAM can exercise voting rights as necessary. The total share count on the notification date was 82,347,218 shares. Ontex is a global provider of personal hygiene solutions, employing around 10,000 people across 21 countries.

Ontex reported full-year 2021 revenue of €2.026 billion, down 2.9% year-over-year, largely due to lower volumes amidst stable pricing. Adjusted EBITDA fell 26.9% to €172 million, resulting in an adjusted EBITDA margin of 8.5%. The adjusted basic EPS dropped to €0.07 from €1.01 in 2020, impacted by higher financing costs and non-recurring expenses totaling €84.7 million. Free cash flow decreased to €53 million, while net debt improved to €725 million. The board has proposed no dividend for 2021, focusing instead on strategic divestments and cost-saving initiatives.