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ONTEX - Ontex NV News Story

€11.65 -0.1  -0.7%

Last Trade - 10/08/20

Consumer Defensives
Mid Cap
Market Cap £856.5m
Enterprise Value £1.63bn
Revenue £2.01bn
Position in Universe 229th / 852

BUZZ-Ontex: Currency headwinds to put pressure on debt, CS cuts

Mon 1st June, 2020 10:04am
** Credit Suisse cuts Ontex  ONTEX.BR  to "underperform"
from "neutral" as sharp depreciation in the diaper maker's
emerging markets currencies will put further pressure on its net
    ** Ontex's EM currencies, especially in Mexico and Brazil,
have depreciated nearly 15% versus USD and with the company's
USD-denominated input costs CS forecasts negative transactional
impact of over 300 basis points on full year EBITDA margin 
    ** The broker expects the company's net debt/EBITDA ratio to
rise to 3.7 this year amid declining profits and an increase in
restructuring charges 
    ** It cuts its EPS estimate by 14% to 1.12 euro vs consensus
of 1.35 euro and lowers target price to 12 euros from 15.5 euros

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