On Holding Sees First Quarter Sales Record on Global Demand – ExecEdge
Now Reading:
On Holding Sees First Quarter Sales Record on Global Demand
Full Article 1 minutes read

On Holding Sees First Quarter Sales Record on Global Demand

By Karen Roman

Swiss-based On Holding AG (NYSE: ONON) said it had record net sales exceeding CHF 500 million ($551 million) in the first quarter on demand across all product categories.

On’s direct-to-consumer net sales rose 39% to CHF 190.5 million and represented 37.5% of total net sales, it said.

Gross profit rose 23.9% to CHF 303.3 million, while gross profit margin increased to 59.7% from 58.3%, it reported. Net income grew 106.0% to CHF 91.4 million and net income margin expanded to 18.0% from 10.6%.

On’s adjusted EBITDA margin increased to 15.2% from 14.5%, and its adjusted net income grew to CHF 106.5 million, it said. The company reaffirmed its full-year guidance of at least 30% growth in net sales.

“Looking ahead, we’re extremely excited for the months to come, filled with groundbreaking innovations, big partnerships, and the opportunity to have a notable impact in Paris this summer,” said Martin Hoffmann, Co-CEO and CFO of On.

Contact:

Exec Edge

executives-edge.com

Editor@executives-edge.com

 

Leave a Reply

Your email address will not be published. Required fields are marked *

Input your search keywords and press Enter.