Ontex’s revenue of Core Markets was €396 million ($403 million), up 10% like for like, driven by 5.1% volume/mix growth and 5.3% overall higher prices. With a 2.9% increase compared to the previous quarter, this marks five consecutive quarters of sequential growth. Revenue was up double digit in Europe, while in North America the evolution was more subdued due to a higher comparable in 2021. Forex fluctuations added 3.6%, with the significant year-on-year appreciation of the U.S. dollar and Russian ruble, increasing revenue 14% overall.
Prices were up 5.3% on average, versus 1.7% in the first quarter. By June prices were up further and as more pricing has already been secured, these are expected to continue to increase in the coming months. Additional pricing actions put in place to respond to the continued inflation of input costs.
In baby care revenue grew 11% like for like. Baby pants growth accelerated compared to the first quarter, to strong double-digit year on year, benefitting from a new product range and share gains from its customers. Ontex outperformed the retail brand market, which was positive overall. In adult care revenue growth was 13% like for like, with double digit growth both in the institutional channel and in retail channels. Feminine care products grew 4% like for like.
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