Ontex reported weaker results during the first quarter of 2026, with revenue totaling €426 million (US$499 million). The figure represents a 4 percent year over year decline and a 2 percent decrease compared to the previous quarter, in line with slower demand during the period. As pricing and product mix remained stable, performance was impacted exclusively by lower sales volumes.
Sales volumes in the adult care segment increased by 2 percent, supported by continued growth in the retail channel and stable demand in the European healthcare segment.
In the feminine care segment, volumes declined by 4 percent, reflecting weaker market demand. Meanwhile, baby care volumes fell 11 percent compared to the first quarter of 2025, a period that had benefited from advance orders distributed across the first two quarters of the previous year.
In North America, demand for private label products continued to decline. However, Ontex recorded sales growth in this segment, driven by new contracts and the expansion of existing agreements. In contrast, contract manufacturing volumes declined as expected, while some agreements were discontinued in other international markets. Taking into account a slight unfavorable currency impact, particularly due to the depreciation of the U.S. dollar, total revenue declined 5 percent year over year.
Adjusted EBITDA reached €39 million, representing a 24 percent decline compared to the same period last year, with a margin of 9.1 percent. The result was mainly pressured by cost inflation and lower fixed cost absorption. Higher prices for raw materials, packaging, and transportation were partially offset by operational efficiency initiatives and strict cost control measures.
According to the company’s CEO, Laurent Nielly, “performance has not yet reached the level we are targeting, but in a quarter marked by renewed geopolitical instability and slightly weaker market demand than expected, I remain optimistic about the work of our teams to strengthen Ontex’s resilience and achieve the expected profitability level.”
To address this challenging environment, the company continues to advance its strategic plan focused on efficiency and optimization. Ontex maintains its expectation of a gradual EBITDA improvement throughout 2026, supported by operational gains and disciplined cost management.
