Russia Places Ontex Subsidiary Under Interim Administration

Ontex Group NV has announced that its Ontex’s local subsidiary, Ontex Russia, has been placed under interim administration following a presidential decree dated October 15, 2026. Under such procedure, a government-appointed interim administrator has assumed operational control of Ontex Russia.

Ontex Russia currently employs around 350 employees and operates a production facility in Noginsk and sales office in Moscow. Ontex Russia represents about 5% of the total revenue of Ontex Group, 7 to 8% of adj. EBITDA under IFRS consolidation rules and provides limited cash contribution.

Ontex is investigating the situation and will consider appropriate actions to safeguard its assets and the continuity of Ontex Russia’s operations, in the interest of its employees and other stakeholders.

Ontex Russia is one of five divisions of five Europe-linked companies to temporary management in Russia. The list includes flooring manufacturer Tarkett as well as Kappa Rus, Menshen Packaging CIS and Eviosys Packaging Kuban. The legal basis for the action is Russian presidential Decree No. 302 of April 25, 2023, which allows for the introduction of temporary management over movable and immovable property, shares, securities and property rights connected with states that Moscow calls “unfriendly.”