Ontex 1H 2020 results: adjusted EBITDA up 13% from year ago to Euro 126 million
AALST-EREMBODEGEM, Belgium, July 30, 2020-
Ontex Group NV today announced its results for the three months and six months ending June 30, 2020.
Thierry Navarre, Ontex CEO, commented: “Ontex delivered a meaningful improvement in H1 operating performance amid the exceptional context of the COVID-19 pandemic, with an unprecedented surge and subsequent unwinding of demand, as well as extreme currency headwinds. While lower market demand weighs on our sales, we generated a substantial improvement in profitability, from gross margin to net profit, on the back of strong delivery from our T2G plan. I want to thank Ontex’s staff across the group and all our business partners, who are working tirelessly to ensure we supply daily-use personal hygiene products to our consumers and customers. While addressing current challenges, we invested to drive future growth, as attested by our recent announcement of a new manufacturing facility and the feminine care acquisition, both in the US. In an environment that remains uncertain, we will continue all efforts to protect our people, improve operations, and enhance profitability and cash generation.”
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