Slide 1: 2022 Q1 Results
2022 Q1 RESULTS May 12, 2022
Slide 2: Disclaimer
DISCLAIMER Forward-looking statements This presentation may include forward-looking statements. Forward-looking statements are statements regarding or based upon our management’s current intentions, beliefs or expectations relating to, among other things, Ontex’s future results of operations, financ
Slide 3: 2022 Q1 Highlights
2022 Q1 HIGHLIGHTS Esther Berrozpe CEO
Slide 4: Revenue turnaround, EBITDA down on cost inflation
REVENUE TURNAROUND EBITDA DOWN ON COST INFLATION Revenue Major Continued turnaround impact of savings on volume raw material delivery and price cost inflation
Slide 5: Revenue turnaround driven by return to growth in Europe
Total Group REVENUE TURNAROUND DRIVEN BY RETURN TO GROWTH IN EUROPE Revenue (in €M) 700 600 Highest revenue since Q1 2020 ▪ 4 quarters of sequential growth 500 ▪ Last-twelve-month average turning strongly positive 400 300 Total Group revenue up 15% LFL ▪ Volume/mix up 9% 200 ▪ Price up 7% 100
Slide 6: Strategic growth drivers delivering
Total Group STRATEGIC GROWTH DRIVERS DELIVERING North Baby Adult Sustainable America pants care & natural solutions Up >30% Up solid double Up double digits [1] Development of re- digits useable period cups Contract wins in Shift in market and menstruation previous quarters Retailer br
Slide 7: Cost reductions continued at run rate of 4% of cost base
Total Group COST REDUCTIONS CONTINUED AT RUN RATE OF 4% OF COST BASE [1] Savings Operating Net SG&A Total Core Group Markets savings savings (in €M) 21FY 22Q1 22Q1 Scrap reduction SG&A nearing 10% of sales OEE improvement Operating 58 16 11 Benefits of Design-to-value streamlining in resul
Slide 8: Inflationary environment intensifies
Total Group INFLATIONARY ENVIRONMENT INTENSIFIES Indices 3,000 +10-30% +40-80% 2,500 2021 input cost inflation now fully reflected in cost base 2,000 ▪ Significant impact of ~25% on total Q1 cost base [1] yoy 1,500 ▪ Main indices up and higher energy and freight costs 1,000 Additional inflation
Slide 9: Pricing momentum starts to deliver, more to come
Total Group PRICING MOMENTUM STARTS TO DELIVER MORE TO COME YoY price impact on revenue (in €M) +8% 7% higher prices in total Group +6% ▪ Strong delivery in discontinued Emerging Markets with double digits in own brands +4% 2% higher prices in Core Markets, showing first benefits of price negoti
Slide 10: 2022 Q1 P&L
2022 Q1 P&L Peter Vanneste CFO
Slide 11: Revenue turnaround based on volumes and first pricing benefits
Continuing operations REVENUE TURNAROUND BASED ON VOLUMES AND FIRST PRICING BENEFITS Revenue (Core Markets – continuing operations) (in €M) Revenue 500 385 Significant volume growth 384 +0% +13% Other across categories 400 +11% +2% +13% 340 ▪ ~half linked to contract gains Feminine Price Forex car
Slide 12: Inflation offsets savings and revenue growth
Continuing operations INFLATION OFFSETS SAVINGS AND REVENUE GROWTH Adj. EBITDA (Core Markets – continuing operations) (in €M) 80 -118% inflation +30% savings +46% -88% Solid revenue growth drop-through 60 41 Impact of input cost inflation in 2021 40 now fully impacting cost line Volume/ mix/pric
Slide 13: Pricing in Emerging Markets drives margin up sequentially
Discontinued operations PRICING IN EMERGING MARKETS DRIVES MARGIN UP SEQUENTIALLY Revenue €169M Emerging Markets (discontinued operations) +22% LFL yoy Revenue up 22% LFL yoy ▪ Strong pricing across all geographies Adj. EBITDA ▪ Volume growth in Middle East €4M ▪ Negative forex impact -55% yoy A
Slide 14: Group net debt up with WC increase
Total Group GROUP NET DEBT UP WITH WC INCREASE Revenue €553M +15% LFL yoy Total Group (including discontinued operations) Adj. EBITDA Revenue up 15% LFL yoy €25M ▪ Volume/mix up 9% -50% yoy ▪ Price up 7% Adj. EBITDA margin Adj. EBITDA margin at 4.5%, -5.9pp yoy, -1.4pp vs last quarter (21Q4) 4.5
Slide 15: Going Forward
GOING FORWARD Esther Berrozpe CEO
Slide 16: 2022 Outlook
2022 OUTLOOK Visibility remains low Core Markets Group (continuing operations) (incl. discontinued operations) Uncertain geo- political Revenue to grow high single digits Emerging Markets to improve adj. environment LFL on pricing and growth drivers EBITDA margin to improve sequentially in H
Slide 17: Key priorities
KEY PRIORITIES Gradual pass-through of Progress on pricing divestments Continuous delivery on Improvement of savings eco footprint 2022 Q1 Results - May 12, 2022 17
Slide 18: Q&A
Q&A May 12, 2022