10.25.24
In the third quarter of 2024, Ontex’s revenue was €468 million ($505.6 million), up 1.7% like for like. Lower sales prices were more than offset by the volume and mix growth, driven by adult care and by retail baby care in North America. Forex fluctuations were supportive, leading to a total 2.4% year-on-year increase versus the third quarter of 2023 and a 2.6% sequential increase versus the second quarter of 2024.
Volumes were up 4.4% including mix effects. In adult care these were up double digit thanks to market share gains in the institutional channel and an overall supportive retail market in Europe, in line with societal trends. Baby care volumes were up as well, thanks to double digit growth in North America, boosted by the recent contract gains with retailers. The growth acceleration in the region was tempered, however, by phasing of the order ramp-up and by lower deliveries in the contract manufacturing channel. In Europe baby care volumes were solidly stable, outperforming the subdued market demand, in which retail brands did not gain further market share due to intensified promotional activity by branded players. Refocusing and optimization of the portfolio, led to lower feminine care sales in North America.
Sales prices were lower across categories and 2.6% down on average compared to last year, stabilizing versus the second quarter of this year. This was expected, reflecting planned investments in competitiveness, and adjustments for the decrease of raw material price indices since 2023.
Forex fluctuations were supportive, adding 0.7%, mainly thanks to the appreciation of some non-euro denominated currencies in Europe.
Volumes were up 4.4% including mix effects. In adult care these were up double digit thanks to market share gains in the institutional channel and an overall supportive retail market in Europe, in line with societal trends. Baby care volumes were up as well, thanks to double digit growth in North America, boosted by the recent contract gains with retailers. The growth acceleration in the region was tempered, however, by phasing of the order ramp-up and by lower deliveries in the contract manufacturing channel. In Europe baby care volumes were solidly stable, outperforming the subdued market demand, in which retail brands did not gain further market share due to intensified promotional activity by branded players. Refocusing and optimization of the portfolio, led to lower feminine care sales in North America.
Sales prices were lower across categories and 2.6% down on average compared to last year, stabilizing versus the second quarter of this year. This was expected, reflecting planned investments in competitiveness, and adjustments for the decrease of raw material price indices since 2023.
Forex fluctuations were supportive, adding 0.7%, mainly thanks to the appreciation of some non-euro denominated currencies in Europe.
