On Holding Ag Class A ( (ONON) ) has released its Q1 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 known for its innovative sportswear, has reported strong financial results for the first quarter of 2025, driven by its multi-channel strategy and premium brand positioning in the global market.
In the first quarter of 2025, On Holding AG achieved record net sales of CHF 726.6 million, marking a 43% increase year-over-year. This growth was fueled by a robust direct-to-consumer channel and strong demand from wholesale partners. The company also reported an increase in its gross profit margin to 59.9%, with net income reaching CHF 56.7 million despite a decrease from the previous year.
Key financial highlights include a 45.3% increase in direct-to-consumer sales and a 41.5% rise in wholesale sales. Geographically, the Asia-Pacific region saw the most significant growth, with net sales increasing by 130.1%. The company’s adjusted EBITDA also saw a substantial rise of 54.8% to CHF 119.9 million, reflecting improved operational efficiency.
Looking ahead, On Holding AG has raised its full-year 2025 net sales guidance, anticipating at least a 28% growth on a constant currency basis. Despite global trade policy uncertainties, the company remains confident in its ability to maintain strong operational profitability and continue its expansion in the sportswear market.