Ontex’s 2024 revenue was €1.86 billion ($1.94 billion), up 3.5% like for like. Volumes were up 5.7% including mix effects, growing in all categories, and by double digits in baby care in North America, as well as in adult care and baby pants in Europe. Sales prices were 2.2% lower, reflecting the decrease of raw material indices and investments in increased competitiveness. Forex fluctuations were positive, adding 0.2%, bringing total growth at 3.7%.

Volumes grew in all categories and were up 5.7% overall including mix effects, outperforming the market in Europe and especially in North America, which remained overall stable. Market demand for adult care products in European retail was up by mid-to-high single digits, supported by societal trends with an increasing and more active elderly population, and with retailer brands gaining market share. Ontex’s volume/mix grew by double digits, mainly thanks to market share gains in the institutional channel. While market demand for feminine care products in Europe was largely stable, retailer brands gained share, and Ontex’s sales volumes grew in line. Market demand for baby care products in Europe decreased by low single digit, reflecting the decreasing birth rate. Retailer brands consolidated their market share gains made in 2023, when consumers switched to better value-for-money alternatives. Ontex’s baby care volumes in Europe were lower, largely in line with the market, albeit with a switch in the portfolio to more premium products, like baby pants, where volumes grew by double digits. Demand for baby care products in North America was largely stable, albeit that A-brands lost some market share to retailer and lifestyle brands. Ontex volumes were up by strong double-digit growth in the region, boosted by contract gains with retailers, which started in the second half of 2023 and throughout 2024.

Sales prices were lower across categories, down 2.2% overall. This was expected, reflecting planned investments in competitiveness, and adjustments for the decrease of raw material price indices since end 2023.

In the fourth quarter of 2024, revenue was €476 million ($497 million), up 6.6% like for like versus 2023. Volumes were up 9% including mix effects, and grew in all categories. The increase was driven primarily by the growth acceleration in North America as well as sustained growth in selected categories in Europe. As anticipated, sales prices were largely stable sequentially, and 2.4% lower year on year, reflecting the past raw material index decreases and investments in increased competitiveness. Forex fluctuations were supportive, adding 0.2%, bringing total growth at 6.8% year on year.

Volumes were up 9% year on year including mix effects, and grew in all categories. Volumes were up by double digits in North America, versus the previous quarter and especially versus the fourth quarter of 2023, mainly as orders from new contracts ramped up. In Europe volumes were up in all categories, especially in adult care and in baby pants, where Ontex’s is leveraging its expertise in service and innovation.

Sales prices were largely stable quarter on quarter, as anticipated, and 2.4% lower year on year, reflecting the past raw material index decreases and investments in increased competitiveness.