Ontex is a leading international personal hygiene solutions provider
Share capital (09/30/2019) 19.98 %
Voting rights (09/30/2019) 19.98 %
Stake value (09/30/2019) € 272 M
Dividend (12/31/2018) € 9.9 M
Investment year
Business area
Disposable hygiene products
Registered office
Aalst-Erembodegem, Belgium

Ontex is a growing international group specialised in hygienic products for baby, adult and feminine care. Ontex products are distributed in more than 110 countries under the company’s own brands and retailer brands. The main sales channels are retail trade, medical institutions and pharmacies.

Portfolio value 09/30/2019
1.4 %
Net dividends 12/31/2018
2.2 %
Investment case

Investment case The growth of the industry in recent years has been supported by:

  • Resilience of the business (hygiene basics)
  • Ageing population in mature countries
  • Growth in population and product adoption rates for hygiene products in emerging countries
  • Market share gains of retailer brands in developedm arkets

Ontex should be able to continue to outperform the market thanks to:

  • Increases in share of its own brands
  • Premiumization of its products through innovation
  • Its greater exposure to emerging countries and adult incontinence products

Ontex is well positioned to consolidate a fragmented industry. The group has a rich pipeline of M&A targets, with a focus on (i) adult incontinence, (ii) branded
products and (iii) outside Europe. The group has potential to increase its margin, through efficiencies and savings programs from the enlarged platform.

  • Board of Directors 2/7*
  • Audit and Risk Committee 1/3*
  • Remuneration and Nomination Committee 1/4*