2024-02-08 19:34:05 ET
Ontex Group NV (ONXXF)
Q4 2023 Results Conference Call
February 08, 2024 06:00 AM ET
Company Participants
Geoff Raskin - Investor Relations
Gustavo Calvo Paz - Chief Executive Officer
Geert Peeters - Chief Financial Officer
Conference Call Participants
Charles Eden - UBS
Wim Hoste - KBCS
Karel Zoete - Kepler Cheuvreux
Markus Schmitt - ODDO BHF
Fernand de Boer - Degroof Petercam
Rebecca Clements - Fidelity International
Presentation
Geoff Raskin
Good afternoon, everyone, and thank you for joining us today. I'm Geoff Raskin from Investor Relations. I'm pleased to have Gustavo, our CEO; and Geert Peeters, our new CFO, with us today to present the full year and Q4 results.
Now before that, let me remind you of the safe harbor regarding forward-looking statements, I will not read it out loud, but I will assume you will have duly noted it. You are well aware that since 2022, our P&L is based on continuing operations, which consists of our core markets activities only. The emerging markets are reported as discontinued operations, and while in the process of being gradually divested, they do still contribute to total debt and cash flow figures. Regarding cash flow, please note that we changed our definitions of reported cash flow, which used to be free cash flow before financing to free cash flow after financing or free cash flow to equity.
With that cleared up, Gustavo, over to you.
Gustavo Calvo Paz
Thanks, Geoff. I'm delighted to be here with Geert Peeters, our new CFO. By now, I have a complete team in place to deliver on our strategy. They have a tremendous amount of experience and complementary skills and are highly energized with no hesitation and can't dream of a better team.
Now turning on to encouraging set of numbers for 2023 that we published this morning. This confirms that we are well on the way to restoring Ontex's financial health, notably with a positive earnings per share and free cash flow. Of course, there is still more to do. Yet in 2023, we crossed a significant milestone on our cash flow generation, allow us -- allowing us to accelerate our investments.
Let's move to the Page 4 now. A year ago, I shared with you a series of activities on which we would focus such as decomplexification, value innovation, operational efficiencies, focusing core selected growth categories, divestments, et cetera. These are all critical to execute the transformation of Ontex and driving cash flow and balance sheet improvement. This slide is showing the result of the focus and hard work that Ontex team has done....
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Ontex Group NV (ONXXF) Q4 2023 Earnings Call Transcript