2023-05-04 09:20:42 ET
- Ontex press release ( OTCPK:ONXXF ): Q1 Revenue of €651.6M (+17.7% Y/Y).
- Adjusted EBITDA doubling versus Q1 2022, with margin at 9%, up year on year and quarter on quarter.
- Leverage ratio reduced to 5.3x, fueled by EBITDA increase.
- Full year outlook confirmed : Revenue of Core Markets, to grow by high single-digit, consolidating the improvement realized in 2022 and further balancing the portfolio; Adjusted EBITDA margin for Core Markets in a range of 8% to 10%, with cost inflation headwinds to be offset as additional pricing is passed through and structural cost reduction measures continue to deliver; Discontinued operations to contribute positively to adjusted EBITDA and free cash flow; Leverage to reduce by year end to less than 4x, with improving profitability and cash flow discipline remaining a focus.
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Ontex reports Q1 results; reaffirms FY23 guidance