Diaper manufacturer Ontex managed a higher turnover and profit in 2015, despite “extremely competitive markets”. Its non-Western European markets now contribute more than a third of its total turnover.
1.69 billion euro
Diaper manufacturer Ontex’ 2015 turnover reached 1.69 billion euro, up 4.5 % compared to the year before (+ 4.8 % on a like-for-like basis). Western European turnover dropped 2.4 % on a like-for-like basis, but “Eastern Europe” and “The rest of the world” both had “solid growth”. With these results, its non-Western European markets now contribute 35 % of total turnover.
Net profit for its previous fiscal year reached 98.6 million euro, 11 times higher than the 8.6 million euro from 2014.
“We can be proud of our performance in 2015. In highly competitive marketplaces, we delivered another year of solid organic growth in line with our operating model”, Ontex CEO Charles Bouaziz said. “Our 2015 results were achieved despite significant volatility in both foreign exchange rates and several main commodities”.
2016 will be more challenging
Ontex is more cautious about 2016: “The macro environment remains very challenging, with strong pressures due to political and economic uncertainties, and continuing fierce price competition in European retail.”
The diaper manufacturer expects a slow start to the year, while the pace for the second half of the year should pick up. It will remain a “challenge” to achieve its own turnover goals as it targets a 4 to 6 % like-for-like turnover increase.
Investors kept that careful forecast in mind and hit the share with a 10 % drop. Ontex will enter the Bel-20, the group of most important shares on the Brussels stock exchange, on 21 March.
