On Holding sees constant currency net sales growth rate at least 30% for FY24

On continued on its significant growth path in 2023, reaching numerous records and milestones in the past financial year. Based on the visible strong demand for the On brand, a pipeline of exciting and highly innovative products as well as strong momentum into 2024, On expects to continue to grow at unprecedented rates for a sportswear brand at its scale. In October 2023, at On’s Investor Day, On introduced the aspiration to achieve a net sales CAGR of 26% through 2026. For the full year 2024, On expects to grow even beyond this rate and to achieve a constant currency net sales growth rate of at least 30%. At current spot rates and reflecting the considerable recent Swiss Franc strength, this implies reported net sales of at least CHF 2.25 billion in 2024. Negative foreign exchange impacts are expected to be more pronounced in the first half of 2024.