Ontex 2023 full year results: revenue up 10% to €1.79 billion, operating profit higher, solid EBITDA recovery

AALST, Belgium, February 8, 2024-

Full year adj. EBITDA [1] of €174M, up 67%, marking 6 consecutive quarters of improvement, supported by 10% LFL revenue [1] growth and margin improvement of 3.5pp to reach 9.7%, with cost transformation program delivering 5% operating savings for the 2nd consecutive year;

Strong cash flow generation, allowing for self-funded 55% capex increase to invest in the Group’s transformation, and resulting in positive FCF after financing [2] of €9M;

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