Ontex Group NV (OTCPK:ONXYY)

$ 4.1 0 (0%) Market Cap: 665.43 Mil Enterprise Value: 1.34 Bil PE Ratio: 9,999.00 PB Ratio: 0.70 GF Score: 71/100

Ontex Group NV Investor Update Transcript

Jun 21, 2021 / 12:00PM GMT

Release Date Price: $5.5

Transcript

Esther Berrozpe Galindo

Ontex Group NV - CEO

Good morning, good afternoon. Thank you so much for being with us today. I am joined by our CFO, Peter Vanneste, who arrived at Ontex in May. Our intention today is to share where we are and the progress we have made so far. We will share our financial ambitions based on the actions underway, which is a first step in returning Ontex to value creation.

So where are we today? First of all, we are starting from solid market fundamentals. We have strong positions and good growth potential in most of our markets. These markets present a number of promising opportunities for Ontex. Last February, I shared with you 6 immediate priorities to turn around our company. Since then, I've worked to define the direction of travel and to get organized to execute by appointing a new management team. With this team in place, we have accelerated significantly and momentum is growing on action plans to improve performance and generate cost savings.

Cost reduction initiatives are already delivering and are vital to mitigate raw material cost inflation. Putting

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