Ontex Group

Ontex recorded a sales decline in 2025 to €1,762m and an adjusted EBITDA of €176m (margin 10.0% vs. 12.0% in 2024), driven by weak baby-care demand, higher raw material costs and operational disruptions. The company posted an overall loss of €174m, which included a €190m loss from discontinued operations, and generated a negative free cash flow of -€25m. Net debt fell to €577m, but the leverage ratio rose to 3.3x. For 2026 Ontex expects broadly stable sales, a 10% increase in adjusted EBITDA, a return to positive free cash flow and a reduction of leverage to around 3.0 or below; measures include cost transformation, efficiency improvements and a strategic review. » More on de.investing.com

Ontex has brought forward the leadership change: Laurent Nielly assumes the role of CEO with immediate effect, while Gustavo Paz will remain until the end of January to facilitate the handover. The company announced a full strategic review of its portfolio, operational setup and distribution channels and has established a strategy committee of the board. The measures are aimed at higher cash generation and improved returns; the announcement sent the share price markedly higher. » More on de.investing.com

S&P Global Ratings has downgraded the outlook for Ontex from “positive” to “stable”; the B+ rating remains unchanged. The move follows a second profit warning for 2025 with a lowered sales forecast (core markets: −4 to −6 %) and adjusted EBITDA of €175–180m. S&P expects a reported sales decline of around 14% in 2025, an EBITDA margin of about 7.5% and no positive free operating cash flow. For 2026 S&P anticipates a moderate recovery (sales ~€1.79–1.80bn, adjusted EBITDA margin towards 10% and FOCF around €30m); Ontex also plans a €200m cost-efficiency program for 2026–2028. » More on de.investing.com

Ontex's shares fell about 18% after a profit warning for 2025 and the announcement of a CEO succession. The company now expects a mid-single-digit decline in like-for-like sales and has revised adjusted EBITDA to €175–180m (previously €200–210m), well below the analyst consensus. Reasons are weaker consumer demand in the European baby care business and lower volumes from new contracts; free cash flow is expected to show an outflow of €35m in 2025 and net debt is forecast to rise to 3.2x EBITDA. Ontex plans an efficiency programme targeting €200m in savings over three years; Laurent Nielly will succeed Gustavo Calvo Paz as CEO on 5 May 2026. » More on de.investing.com

Ontex reported Q3 2025 sales of €445 million (-3.8% like‑for‑like year‑on‑year) with a sequential improvement of 3.7% versus the prior quarter. Adjusted EBITDA margin was 11.4%, adjusted EBITDA amounted to €51 million (vs. €56 million a year earlier); cost‑saving measures delivered €16 million in savings. Baby care volumes remained weak, while adult and feminine hygiene showed volume growth. Net debt stood at €543 million with a leverage ratio of 2.7x. Ontex reaffirmed its full‑year guidance (adjusted EBITDA €200–210 million, free cash flow around €0, leverage ~2.5x) and expects roughly 5% sales growth in Q4 and an EBITDA improvement of more than €13 million compared with Q3. » More on de.investing.com