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- On Holding AG (NYSE:ONON) reported fourth-quarter FY22 sales growth of 91.9% year-on-year to CHF 366.8 million.
- Net sales through the direct-to-consumer (DTC) sales channel increased 76.4% to CHF 149.4 million.
- Net sales through the wholesale sales channel increased 104.3% to CHF 217.3 million.
- Gross profit for the quarter gained 91.9% to CHF 214.6 million with a margin of 58.5%.
- Adjusted diluted EPS for Class A shares increased to CHF 0.02 from CHF (0.04) in the prior year.
- Adjusted EBITDA jumped 451.7% to CHF 61.8 million with a margin of 16.8%.
- The company held CHF 371 million in cash and equivalents as of Dec. 31, 2022.
- "With the Paris Olympics in 2024 as an important medium term target, we will continue to invest in both our athlete team as well as pinnacle products at the forefront of innovation," said Co-CEO and CFO Martin Hoffmann.
- Outlook: On sees Q1 net sales growth of 61% Y/Y.
- It expects FY23 net sales growth of 39% to CHF 1.7 billion.
- Also Read: On Holding's Strong Brand Momentum Remains Unchanged, Analyst Says
- Price Action: ONON shares are trading higher by 14.05% at $24.60 on the last check Tuesday.
- Photo Via Company
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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