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Ontex Group (ONTEX) investor relations material
Ontex Group Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue declined 4.9% like-for-like to €1,762 million in 2025, mainly due to lower baby care volumes and challenging market conditions; adjusted EBITDA margin dropped by 2 percentage points to 10%.
Free cash flow was negative at €(25) million, but net debt was reduced by 6% to €577 million, aided by €131 million in divestment proceeds.
Leverage increased to 3.3x due to lower EBITDA, but remains within covenant limits.
Strategic review initiated and new CEO appointed to sharpen focus, maximize value creation, and set priorities for 2026.
Transformation milestones included divestment of emerging markets, Belgian footprint progress, and US capacity expansion.
Financial highlights
Baby care volumes dropped 12% year-over-year, with softness in both Europe and North America due to low demand and A-brand promotions.
Adult care volumes grew by about 1%, now representing 47% of revenues, while feminine care volumes declined by about 2%.
Adjusted profit from continuing operations was €34 million, down from €76 million in 2024.
CapEx was €81 million, or about 4.3%-4.5% of revenue, focused on growth and efficiency.
Net loss for the period was €(173.5) million, mainly due to a €190 million non-cash loss from discontinued operations.
Outlook and guidance
2026 market conditions expected to remain challenging, especially for baby care, with low consumer confidence and continued A-brand promotions.
Adjusted EBITDA targeted to improve by about 10%, with gradual improvement expected from Q2 onwards.
Free cash flow after financing expected to return to positive territory, and leverage to fall to 3x or below by year-end.
CapEx guidance maintained at 3.5%-4.5% of revenue.
Non-recurring cash outflows for 2026 expected at around €20 million, mainly for restructuring.
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