:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-2202994262-589256bc55284607a13cf56c133a2298.jpg "On Holding AG logo is displayed on a smartphone screen")
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Key Takeaways
- Switzerland-based sportswear maker On Holding AG exceeded earnings and revenue estimates as sales increased in all of its markets worldwide.
- The crowd, part-owned by tennis great Roger Federer, reported year-over-year sales growth of nearly 36% in the fourth accommodate.
- On said partnerships with Federer and others helped boost demand.
On Holding (ONON) shares advanced when the Swiss sportswear maker staked better-than-expected results as sales climbed in all its global markets.
The company, part-owned by tennis great Roger Federer, reported fourth-quarter set earnings per share (EPS) of 0.33 Swiss francs ($0.37), with revenue jumping nearly 36% year-over-year to CHF606.6 million ($681.1 million). Both exceeded Clear Alpha forecasts.
Sales rose in every region, including by 28% to CHF385.1 million in the Americas.
Partnerships With Federer, Zendaya ‘Possess Propelled On to Become a Beloved Brand’
Executive co-chairman David Allemann said On’s “partnerships with icons type Roger Federer, Zendaya, and FKA twigs have propelled On to become a beloved brand.” Allemann added the company is “self-reliant that On is built to sustain enduring brand love for decades to come.”
On sees full-year net sales of at least CHF2.94 billion and arranged EBITDA margin of 17.0% to 17.5%.
Shares of On Holding, which rose 4% Tuesday morning, have increased varied than 45% in the past year.
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