Ontex « Terug naar discussie overzicht

quote:

Tordan schreef op 9 februari 2024 14:19:

Mooi positief artikel van premium over Ontex.

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keffertje schreef op 8 februari 2024 23:30:

[...]
Als je ebitda 15% groeit en je schuld neemt wat af dan ga je snel richting de 2,5. Als je non core verkoopt voor minimaal 160 miljoen kom je volgens mij zelfs minimaal richting 2, vandaar dat die verkopen zo belangrijk zijn.

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Wall Street Trader schreef op 9 februari 2024 14:31:

Where do you think North America could get to as a percentage of core market sales, say, in 5 years' time or any other time horizon, you feel is appropriate versus the 10% to 15% of core market sales it represents today?

Gustavo Calvo Paz

Our strong 2024 is a strong double-digit growth that we are forecasting and it's based on, I would say, already aligned business with new customers in the retail environment, Dollar Tree, Dollar family and some others, which I would not disclose all of them due to competitive reasons. But yes, we have aligned already and that strong growth, double-digit strong growth that we're expecting for this year we feel very, very comfortable.

Our ambition is very, very big in U.S. But our ambition is quite big, because the opportunities in U.S. market is huge, not just from us gaining share within the existing retail market. But from us using our expertise that we have developed for many, many years in Europe, helping retail markets in U.S. developing their own retail market and the excitement between them and us is huge, I can tell you. And we are investing behind that, creating more capacity for them to feel assured that we will supply them.

How big could that be, just sort of ballpark numbers?

Gustavo Calvo Paz

Yes. So look, if we think on being on having to getting closer to our fair share in U.S. and think opportunities on the U.S. market to grow, that business for us could represent €1 billion in 5 years.

Are you in constant dialogue with the credit rating providers and the agencies to try and get them to revisit their ratings and outlooks for Ontex?

Gustavo Calvo Paz

We strongly believe that there is some headroom to go up for us. So we hope they share our enthusiasm on the results. What we will do, of course, is in the coming weeks to have contacts with them to further explain the results and to see whether they have any concerns.

Gustavo Calvo Paz

Let me conclude. We accelerated our 3-year turnaround plan over the past year, and I'm very pleased with the excellent momentum we achieved and the encouraging results delivered in 2023. The solid level of activity, continued cost reduction and efficiency improvements all contributed to delivering positive earnings per share and free cash flow for the first time in several years. This marks a major milestone for the group, and it's a huge credit to the entire Ontex team to deliver on our commitments.

The solid improvement in our financial performance and cash flow generation allow us to ramp up our investments for future growth, innovation and further efficiencies gains. Our momentum puts us well on track to restoring value creation for all our stakeholders whom I would like to thank for their support as we continue our journey.

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brt schreef op 9 februari 2024 18:21:

@keffertje seekingalpha.com/article/4668870-onte...

Q:
And then the third question would be an update on the divestments. Yes, how much interest do you see from financial parties? Is it from trade buyers? Is it -- and also, what kind of value do you believe you can extract, I think book value is €160 million do you see any risk of having to take impairments on that? Can you maybe also give some comments on that? Those were the questions.

A:
In terms of the divestments that you asked, we're in the process, we are very enthusiastic, because the companies are delivering EBITDA and free cash flow. So they are very positive. So they are working very good. We have strong teams in place, and we are in the process of that. You ask a question that is very -- at this moment is sensitive because we are in the process, so it would be very difficult for me [Technical Difficulty] the question, so I apologize for not being able, but you would understand that it will disrupt the process in which we are today.

But I can tell you that the 2 businesses -- the 3 businesses that both -- every business that we have in the emerging markets today, they are delivering good EBITDA and good cash flow. So that is our positives there.

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keffertje schreef op 10 februari 2024 02:30:

[...]

Blijf dat toch vreemd vinden. Dat ze niets zeggen over Bra en Tur, lijkt me logisch, maar zwijgen over Pak en Alg, die al lang weg hadden moeten zijn, daar snap ik

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Tartessos schreef op 10 februari 2024 07:35:

[...]

Wat vind je daar vreemd aan?
Als beursgenoteerde onderneming communiceer je pas als er iets te melden valt en zeker is. Niet eerder.

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keffertje schreef op 10 februari 2024 21:17:

[...]
Overigens operationeel neem ik mijn petje af en gegeven mijn longpositie alleen maar belang bij koersstijging.

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Gaston Lagaffe schreef op 11 februari 2024 17:58:

[...]Onlangs nog wat meer ingelezen in Attindas - American Industrial Partners (AIP). Ik denk dat AIP, Ontex gaat overnemen en samenvoegen met Attindas. Op allerlei gebieden past dit precies. De te betalen prijs is geen probleem (stel $ 1 miljard) Minder als GBL aan boord blijft (wat ik vermoed). AIP is een behoorlijk grote 'industriele-private equity-boetiek' waarin wel meer van dit soort samen te voegen productiebedrijven zitten. Volgens mij richten ze zich op Noord-Amerika waar Attindas en Ontex fabrieken hebben staan. Als de Amerikaanse luier-markt inderdaad zoveel groeit past dit ook goed bij AIP Attindas. Eigenlijk zit alleen ENA in de weg. Die willen geld zien om het verlies te beperken.