Slide 1: Q1 Trading Update
Q1 TRADING UPDATE APRIL 28TH, 2021
Slide 2: Forward-Looking Statements
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, financial conditi
Slide 3: New Strategic Priorities…
NEW STRATEGIC PRIORITIES… PORTFOLIO CUSTOMER PRODUCT OPERATIONAL FOCUS CENTRICITY INNOVATION EXCELLENCE Simplify the business Strengthen Accelerate Improve cost & product portfolio customer relations cadence of competitiveness & restore growth innovation & service levels ENVIRONMENT & Set clear long
Slide 4: …To Restore Profitable Growth
…TO RESTORE PROFITABLE GROWTH Peter Vanneste appointed CFO, joining May 2021 Vincent Crepy appointed Chief Supply Chain Officer, joining May 2021 LEADERSHIP TEAM Laurent Nielly appointed President Europe Division February 2021 Caroline De Wolf appointed Group Communications VP April 2021 ORGANIZATIO
Slide 5: Q1 2021 Financial Overview
Q1 2021 FINANCIAL OVERVIEW Revenue decreased 17% vs €574m in Q1 2020 €480m LFL revenue down 11%, soft demand compared with strong Q1 in prior year REVENUE Europe also impacted by contract losses, all Divisions posted lower LFL Negative FX impact of -€33m Adjusted EBITDA down 25% vs €66m in Q1 2020 A
Slide 6: Q1 2021 Revenues
Q1 2021 REVENUES (€m) -16.5% reported 574 -8.3% 480 -2.8% -5.8% +0.5% LFL -11.1% Q1 2020 Volume Price/mix FX Scope Q1 2021 Sales lower versus high comparable last year: Currency impact: -€33 million, with all main foreign currencies ‐ Demand contraction in brick and mortar with shift to online weake
Slide 7: Q1 2021 Revenues by Category
Q1 2021 REVENUES BY CATEGORY Babycare Adult Inco Feminine Care €254m (reported) €170m (reported) €47m (reported) +7.3% +3.4% +1.3% +14.7% -15.9% -26.8% (LFL) (LFL) (LFL) Q1 2019 Q1 2020 Q1 2021 Q1 2019 Q1 2020 Q1 2021 Q1 2019 Q1 2020 Q1 2021 Lower market demand and accelerated shift to Continued gro
Slide 8: Q1 2021 Revenues by Division
Q1 2021 REVENUES BY DIVISION Europe AMEAA Healthcare €192m (reported) €179m (reported) €109m (reported) +7.7% +10.7% -4.2% -2.1% -1.2% -21.5% (LFL) (LFL) (LFL) Q1 2019 Q1 2020 Q1 2021 Q1 2019 Q1 2020 Q1 2021 Q1 2019 Q1 2020 Q1 2021 Sales decline due to 2020 contract losses Americas sales held up wel
Slide 9: EBITDA
Q1 2021 EBITDA (€m) -16 7 -24 66 6 4 -10 50 Q1 2020 Volume/Price/Mix Raw Material Operating Expenses SG&A FX Q1 2021 EBITDA MARGIN Indices EBITDA MARGIN 11.5% 10.3% Drop through from lower sales volumes Savings and efficiencies outweighed negative operating leverage Negative impact of price/mix SG&A
Slide 10: Financial Structure as at 31st March 2021
FINANCIAL STRUCTURE AS AT 31ST MARCH 2021 Financial actions & No dividend payout on FY 2020 Secure refinancing priorities Capex freeze Rebuild EBITDA margins Revolving credit facility headroom Improve cash conversion rates Net Debt & Leverage Ratio (€m) 908 Debt Ratings 861 848 845 Moodys B1 with a
Slide 11: Market Trends
MARKET TRENDS Soft market demand trends in Europe E-commerce acceleration in 2020 Retail Babycare, Femcare, Adultcare (€Bn) 60 63 66 69 72 75 LTM Feb 2021 Jan-Feb 2021 -3% 1% -5% 59 60 62 62 Brick 55 57 -8% -10% -9% & Mortar 13 9 10 (17%) 6 7 (14%) 5 (11%) (13%) Online (9%) (10%) 2015 2016 2017 2018
Slide 12: Market Trends
MARKET TRENDS In Europe, share of consumers claiming to be …and they claim a willingness to pursue budget constrained grew 46 percent points with savings in retail with ~80% switching to the pandemic… Discounters and Retailer Brands 63% +46% 77% 89% Shopping more in ‐ Cut down on 17% Discounters/val
Slide 13: 2021 Outlook
2021 OUTLOOK Despite uncertainties due The priority in 2021 will be The new management to the pandemic and input to launch major actions to team look forward to cost inflation, the Group drive the turnaround of providing an update on its expects to have stable Ontex strategic initiatives and LFL rev
Slide 14: Q1 Trading Update
Q1 TRADING UPDATE APRIL 28TH, 2021