November 8, 2017 / 7:13 AM / 14 days ago

BRIEF-Ontex Group Q3 adjusted EBITDA up at 68.2 million euros ​

Nov 8 (Reuters) - ONTEX GROUP NV:

* ‍EXPECT TO CONTINUE TOP-LINE OUTPERFORMANCE IN OUR MARKETS IN Q4​

* ‍ADULT INCO WILL CONFIRM AN ANNUAL RUN RATE OF EUR 2.4 BILLION REVENUE​

* ‍ANTICIPATE PRESSURE IN BRAZIL WILL CONTINUE​

* BRAZIL TOGETHER WITH FX AND COMMODITIES HEADWINDS, WILL PUT OUR Q4 MARGINS SLIGHTLY BELOW Q3.​

* ACTIONS TAKEN TO INCREASE GROUP-WIDE CAPACITY OF MARGIN-ACCRETIVE PRODUCTS AND TO IMPLEMENT INTEGRATION PLAN IN BRAZIL, EXPECTED TO START SHOWING BENEFITS DURING H2 2018​

* ‍Q3 2017 REPORTED REVENUE INCREASED 16.1%​

* ‍ONTEX Q3 2017 ADJUSTED EBITDA MARGINS LOWER, IMPACTED BY RAW MATERIALS, BRAZIL AND FX​

* ‍Q3 2017 REVENUE WAS EUR 592.4 MILLION​

* ‍ Q3 2017 ADJUSTED EBITDA INCREASED BY 7.9% YOY TO EUR 68.2 MILLION​

* ‍Q3 2017 ADJUSTED EBITDA MARGIN OF 11.5%​

* ‍ Q3 2017 NET FOREIGN EXCHANGE (FX) IMPACTS OF -EUR 6.0 MILLION ON REVENUE AND -EUR 2.2 MILLION ON ADJUSTED EBITDA​

* ‍NET DEBT WAS EUR 751.1 MILLION AS OF SEPTEMBER 30, 2017​

* ‍REFINANCING OF GROUP‘S DEBT EXPECTED TO BE FINALIZED BEFORE END OF 2017​

* ‍GROUP‘S DEBT ANTICIPATED TO REDUCE NET FINANCE EXPENSES BY MORE THAN EUR 7 MILLION PER YEAR FROM 2018 ON A PRE-TAX BASIS​

* ‍FOREIGN EXCHANGE HEADWINDS AND A TEMPORARY ADVERSE RESULT IN OUR NEW BRAZIL BUSINESS HAVE LED TO LOWER MARGINS - CEO​ SOURCE TEXT FOR EIKON: FURTHER COMPANY COVERAGE: (Gdynia Newsroom)

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