Ontex reports Q2 and half-year results; revenue up, EBITDA down
AALST-EREMBODEGEM, Belgium, July 29, 2022-
Esther Berrozpe, Ontex’s CEO, said “We are delivering on the Group’s strategic priorities: turnaround of the top-line, bringing down the structural cost base and divestments to reduce net debt and refocus the Group. The unprecedented cost inflation has however hit our adjusted EBITDA significantly during the first half, so we will continue to accelerate pricing to alleviate this negative impact. Revenue growth and the lower cost base will be a major driver to margin recovery and value creation once the raw material environment improves.”
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