Cash will be used to pay down debt and reduce leverage

Aalst-Erembodegem, October 4, 2021 – Ontex Group NV (Euronext Brussels: ONTEX) announced today that Ontex has received 500 million Brazilian Reais (€81 million1) from Hypera S.A. (“Hypera”, formerly Hypermarcas S.A.) on October 1, 2021. This was foreseen when Ontex entered into an agreement with Hypera as announced on September 15, 2021, settling certain claims relating to Ontex’s acquisition of the Brazilian personal hygiene business from Hypera in March 2017 for an enterprise value of 1 billion Brazilian Reais.

After deduction of c.€7 million arbitration-related costs, the balance of the settlement amount will be used to pay down debt, consistent with the Group’s ambition to reduce leverage.

Note 1: The amount of the settlement is denominated in Brazilian Reais.  The € amount in this press release is computed at a EUR/BRL rate of 6.19.

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Geoffroy Raskin
Maarten Verbanck

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