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. » Altro su 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. » Altro su 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. » Altro su de.investing.com