On Holding Ag Class A ( (ONON) ) has released its Q3 earnings. Here is a breakdown of the information On Holding Ag Class A presented to its investors.
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On Holding AG, a Swiss company founded in 2010, is known for its innovative sportswear, particularly in the premium footwear and apparel sector, aiming to inspire movement with its cutting-edge designs and technology.
In its latest earnings report, On Holding AG has showcased a record-breaking quarter, achieving significant growth in net sales and profitability. The company reported a 32.3% increase in net sales, reaching CHF 635.8 million in Q3 2024, driven by a remarkable 49.8% growth in its direct-to-consumer (DTC) channel.
Key financial highlights include a gross profit margin increase to 60.6% and an adjusted EBITDA margin of 18.9%. Despite a significant decrease in net income by 48.0% to CHF 30.5 million, the company’s strategic focus on its DTC channel and cost management has resulted in a robust adjusted EBITDA growth of 47.7%.
Looking ahead, On Holding AG is optimistic about its growth trajectory, raising its full-year 2024 net sales growth outlook to at least 32% on a constant currency basis. This confidence is fueled by the strong brand momentum and a successful presence in major global events, positioning On as a premium leader in the sportswear industry.
