Ontex’s Q3 2021 revenue was €512 million ($592 million), stable like for like (LFL) versus the prior year and up 2% sequentially versus Q2 2021 despite c.€13 million ($15 million) of orders which could not be fulfilled due to supply chain disruptions. The areas identified in June as key to delivering sustained revenue improvement were visible in Q3: starting to reverse the sales trend of retailer brands in Europe, outperforming in North America, growing its current emerging markets business, and accelerating in Adult Care. On a reported basis, sales were up 0.9% due to a positive currency impact of +€4.5 million in the quarter.

Third quarter 2021 Baby Care revenue decreased -1.1% year-on-year, while at the same time Q3 was the second quarter in a row of mid-single digit sequential growth. Sales of baby pants in Q3 grew mid-single digits compared to prior year in both Europe and AMEAA as a result of Ontex’s focus to capture more of the consumer trend towards this product type. Baby diaper revenue was lower overall based on a decline in Europe and growth in AMEAA. For the first nine months of 2021 Baby Care sales were down -4.6%.

Third quarter 2021 sales in the Adult Care category grew 5% year-on-year and were also up sequentially versus Q2 2021. Adult Pants increased ahead of the overall category led by double-digit growth in AMEAA. Retail channel revenue was up 14% with double-digit growth in both Europe and AMEAA. Sales in institutional channels were slightly lower, and continued to be impacted by a slow recovery in occupancy rates in care homes. Adult Care sales were up 3.9% in the first nine months of 2021.

Revenue in the Feminine Care category decreased -9% Q3 2021, strongly impacted by packaging shortages in Europe. AMEAA revenues were slightly down. Without the lost sales in Europe, category revenue would have grown low single digit in the quarter. Revenue of Feminine Care products decreased -12% in the first nine months of 2021.