Ontex Group N.v. · EURONEXT:ONTEX
Ontex — Ontex Group Nv Ord — FY2025 Earnings Presentation
19 slides from Ontex's earnings presentation, Feb 12, 2026
Slide 1: 2025 results
2025 results February 12, 2026
Slide 2: Disclaimer
Disclaimer Forward-looking statements This presentation may include forward-looking statements. Forward-looking statements are statements regarding or based upon our management’s current intentions, beliefs or expectations relating to, among other things, Ontex’s future results of operations, financ
Slide 3: 2025 Highlights
2025 Highlights 3
Slide 4: Disappointing results in challenging year
Disappointing results in challenging year FY 2025 Adj. EBITDA Revenue FCF Leverage margin €1,762M 10.0% €(25)M 3.3x -4.9% LFL YoY -2.0pp YoY vs €48M in 2024 vs 2.5x end 2024 4
Slide 5: Challenging market and supply chain conditions
Challenging market and supply chain conditions Yet further key milestones achieved in transformation program Challenging market Maintained competitive position > Lower birth rate in Europe > Positive gain/loss balance on contracts > Economic uncertainty affecting consumption > Launch of several inno
Slide 6: Market conditions slightly worse in Q4 and lapping strong Q4 2024
Market conditions slightly worse in Q4 and lapping strong Q4 2024 12.5% 12.0% 11.9% Q4 2025 11.5% 11.4% 11.2% Adj. EBITDA margin 8.9% 8.3% 476 468 -2.4pp QoQ 8.9% 460 456 451 445 430 436 -3.0pp YoY Baby care 42% 39% 12% Feminine care 13% Revenue Adult care 43% 47% -2.1% QoQ Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 €
Slide 7: 2025 Financials
2025 Financials 7
Slide 8: Soft consumer demand in baby care drives revenue lower by 5%
Soft consumer demand in baby care drives revenue lower by 5% > Negative sales price carry-over offset by mix improvement FY revenue YoY (Continuing operations, in €M) > Baby care volumes down 12%, reflecting lower customer demand 1,860 -95 Retailer brand market down by high single digit in Europe,
Slide 9: Revenue decline drives adj. EBITDA down
Revenue decline drives adj. EBITDA down Cost transformation program mitigates most cost increases FY adj. EBITDA YoY > Lower revenue leads to €(40)M negative impact (Continuing operations, in €M) +69 -38 > Solid net savings delivery by cost transformation program, despite lower volumes, thanks to fu
Slide 10: Net result reflects impact of lower profitability and non-cash divestment effects
Net result reflects impact of lower profitability and non-cash impact of divestment accounting effects Condensed P&L 2025 2024 > Adj. profit from continuing operations at €34M, below PY reflecting lower adj. EBITDA Adj. EBITDA 176 223 D&A -77 -74 > EBITDA adjustments mostly for impairment of obsolet
Slide 11: Lower EBITDA drives FCF negative while restructuring cash-out remains high
Lower EBITDA drives FCF negative while restructuring cash-out remains high 2025 FY cash impact on net debt > NWC needs stable: NWC/revenue improvement (Total Group, in €M) in Core Markets from 5.4% to 5.1% partially offset 184 -1 -16 by increase in discontinued operations prior to Emerging -13 dives
Slide 12: Net debt reduced by 6% thanks to M&A proceeds
Net debt reduced by 6% thanks to M&A proceeds offsetting FCF and non-cash accounting movements Net debt evolution (Total Group, in €M) -25 +131 -70 (647) > M&A proceeds of €131M from Brazilian and Turkish (612) divestments -27 -11 (577) RCF FCF -34 (98) Share Cash > Reclassification of cash in Alger
Slide 13: Healthy balance sheet position maintained
Healthy balance sheet position maintained EBITDA erosion drives leverage up Adj. EBITDA, net debt & leverage ratio evolution (Total Group, in €M) 241 248 241 > Leverage at 3.3x 236 229 Leverage temporarily above 3x due to lower EBITDA and 205 206 201 reclassification of Algerian cash 182 Within
Slide 14: Going forward
Going forward 14
Slide 15: Market conditions anticipated to remain difficult in 2026
Market conditions anticipated to remain difficult in 2026 especially for baby diapers Overall assumptions Region-specific assumptions > Economic uncertainty > Europe: > North America: expected to continue to Lower birth rates Sharp demand drop in contract manufacturing weigh on consumption to drive
Slide 16: Sequential improvement expected in 2026
Sequential improvement expected in 2026 growing gradually from a soft Q1 Adj. EBITDA FCF Leverage +10% positive ≤ 3X > > 16 based on: based on: based on: > Largely stable revenue LFL > EBITDA improvement > Largely stable net debt > Cost transformation delivery > Lower restructuring CF > EBITDA impro
Slide 17: Clear priorities set for 2026 and strategic review initiated
Clear priorities set for 2026 to resume profit growth and improve cash generation, and strategic review initiated Clear priorities set for disciplined Strategic review initiated execution of 2026 plans > Resume volume growth including > Strategic Committee in place continued ramping up of new contra
Slide 18: Q&A
Q&A 18
Slide 19: Ontex—Here for you.
Ontex— Here for you.