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Ontex is a group specialised in disposable hygiene products for babies, women and adults. Ontex products are distributed in more than 100 countries under the company’s own brands and distributors’ private labels. The main sales channels are retail trade, medical institutions and pharmacies.

GBL and Ontex

In the first quarter of 2015, GBL acquired 7.4% of Ontex’s capital. At 31 December 2015, GBL held 7.6% due to its participation in the capital increase relating to the acquisition of Grupo Mabe and was the company’s largest shareholder.

Half-year results 2016

  • Turnover stands at EUR 963 million, a drop of 0.1% in organic terms but an increase of 12.9% in reported figures, buoyed by the acquisition of Grupo Mabe
  • Adjusted EBITDA grew by 12.2%, particularly as a result of the impact of Grupo Mabe, operational excellence efforts and lower prices of oil-related commodities; the margin dropped slightly by 7 ;bps to 12.8% further to a negative currency impact
  • Net debt at 30 June 2016 was EUR 660 million, up by EUR 255 million compared to 31 December 2015 following the acquisition of Grupo Mabe (closing in early March 2016)

Outlook for 2016

Management has confirmed its willingness to reach 4 to 6% growth during the second half of the year, supported by the economic recovery in Western Europe. Ontex is also forecasting an adjusted EBITDA margin that is at least equal to the level for 2015 (12.4%), despite the dilutive effect of the Grupo Mabe deal.