Ontex: buoyed as forecasts confirmed
(CercleFinance.com) - Up by more than 2.
5%, the Ontex share was among the strongest risers on the Brussels Bel-20 index in morning trading today.
Margins appear to have surpassed their low point and forecasts have been confirmed.
The underpad and personal hygiene specialist recorded 558.1 million euros in turnover for the first quarter, i.e. +1.1% in published data. In terms of organic growth, the rate is 1.7%, after 5.5% in 2017, 7.2% of which only in the fourth quarter. Ontex had warned, however, that it was anticipating headwinds on this latter indicator in 2018, as its markets remain tricky, with rising costs and pressure on prices.
Adjusted EBITDA plunged by 17.9% to 57.5 million euros, bringing the 12.75 per cent margin to 10.3% (in Q4 2017: 9.1%). Barring Brazil, where the group is struggling to integrate a major acquisition, the rate comes out at 11.5%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
5%, the Ontex share was among the strongest risers on the Brussels Bel-20 index in morning trading today.
Margins appear to have surpassed their low point and forecasts have been confirmed.
The underpad and personal hygiene specialist recorded 558.1 million euros in turnover for the first quarter, i.e. +1.1% in published data. In terms of organic growth, the rate is 1.7%, after 5.5% in 2017, 7.2% of which only in the fourth quarter. Ontex had warned, however, that it was anticipating headwinds on this latter indicator in 2018, as its markets remain tricky, with rising costs and pressure on prices.
Adjusted EBITDA plunged by 17.9% to 57.5 million euros, bringing the 12.75 per cent margin to 10.3% (in Q4 2017: 9.1%). Barring Brazil, where the group is struggling to integrate a major acquisition, the rate comes out at 11.5%.
Copyright (c) 2018 CercleFinance.com. All rights reserved.