Ontex Profit warning, restructuring plan and new CEO appointment
Ontex just issued a profit warning revising its full-year outlook downwards. At the same time the board has decided to appoint Laurent Nielly , currently president of Ontex Europe, as the new CEO. The change will be effective as of May 2026 when the mandate of the current CEO comes to an end. The adjusted FY EBITDA25 guidance calls for a range of €175-€180m (previously €200-€210m) compared to KBC's forecast of €197m. Ontex's management is now accelerating an efficiency improvement initiative across operations and SG&A of €200m. The required one-off implementation costs are expected to remain below €40m. In a first reaction to the severe guidance downgrade we cut our rating to Hold (from Accumulate) and set our target price at €6.5 (from €8). Conf call at 12:00 CET.Ontex Group NV is a Belgium-based company, which operates in the manufacturing sector of industry. The Company is a producer of disposable personal hygiene solutions for babies, women and adults. It offers a range of such products as baby diapers, baby pants, baby wet wipes, pads, pantyliners, tampons, light incontinence products, pull-ups, belt diapers, all-in-one tape systems, shaped pads and underpards. Its products are distributed through retail partner brands, as well as under its own brands (canbebe, canped, Helen Harper, Moltex, Baby Charm) across several distribution channels, such as retail trade, care institutions and pharmacies. The Company is present in Europe, Northern Africa, Australia and Asia.
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