On Holding AG - ONON STOCK NEWS

On (NYSE: ONON) has appointed Dennis Durkin as an independent member of its Board of Directors and Chairman of the Audit Committee. David Allemann, Co-Founder, expressed enthusiasm for Durkin's experience, following the prior appointment of Amy Banse. Durkin's background includes serving as CFO at Activision Blizzard and positions at Microsoft, contributing to a strengthened and independent board. His appointment fulfills independence requirements and enhances financial oversight.

On Holding AG reported a robust Q1 2022, with net sales increasing by 67.9% to CHF 235.7 million. The company achieved record performance through its direct-to-consumer and wholesale channels, bolstered by strong consumer demand and successful product launches. Despite supply chain challenges, net income rose to CHF 14.3 million, while gross profit margin decreased to 51.8%. The firm has raised its full-year guidance to expect over CHF 1.04 billion in sales. Notably, On launched the environmentally friendly Cloud 5, setting a historical milestone in product innovation.

On (NYSE: ONON) will release its Q1 2022 financial results on May 17, 2022, before U.S. markets open. A conference call is scheduled for 8:00 AM ET on the same day, accessible via phone and a live webcast on the investor relations website. The company, known for its innovative running footwear and apparel, continues to grow its global fanbase, emphasizing its commitment to the circular economy and premium performance sportswear. Investors can join the call with no access code required.

On Holding AG reported a record year in 2021 with net sales of CHF 724.6 million, marking a 70.4% increase from 2020. The company's gross profit margin improved to 59.4%, while adjusted EBITDA rose to CHF 96.4 million, a 93.8% increase year-over-year. The direct-to-consumer segment grew by 71.9%, reflecting strong global demand. For 2022, On expects net sales to exceed CHF 990 million and adjusted EBITDA of CHF 130 million, despite anticipated supply chain challenges. Notable partnerships and expansion plans are set to further enhance brand visibility and growth.

Swiss performance sportswear brand On (NYSE: ONON) will release its fourth quarter and full year 2021 financial results on March 18, 2022, before U.S. financial markets open. An earnings conference call will follow at 8:00 am ET. To join, dial +1 760 294 16 74 in the U.S. and find additional international numbers in the official release. A webcast will also be available. On continues to innovate in premium sportswear and has a growing global presence, aiming to inspire customers to pursue outdoor activities.

Swiss sportswear brand On (NYSE: ONON) will join the ICR Conference with a fireside chat on January 11, 2022, at 10:00 am US Eastern Time. The chat will be accessible via a live webcast on the investor relations website. A replay will also be available post-event. On, known for its innovative CloudTec® technology, creates high-performance footwear and apparel, aiming to enhance the running experience.

On (NYSE: ONON), a Swiss performance sportswear brand, announced a partial early lock-up release of Class A ordinary shares. Approximately 11.8 million shares will be eligible for public sale starting November 19, 2021, following the satisfaction of conditions related to share price. This early release involves 10% of the shares under lock-up agreements for directors, officers, and other shareholders. However, the restricted period remains for all other shares subject to these agreements.

On Holding AG reported a strong Q3 2021 with net sales of CHF 218.0 million, up 67.6% year-over-year, and a gross margin increase to 60.2%. Direct-to-consumer sales surged 93%, while adjusted EBITDA rose 67.9% to CHF 37.9 million. The company expects net sales of CHF 710 million and adjusted EBITDA of CHF 92 million for FY 2021, reflecting growth despite supply chain challenges. Their new foam, CleanCloud™, aims to innovate away from petroleum resources. Cash increased 641.6% to CHF 672.2 million as of September 30, 2021.

On, a Swiss sports brand, has launched CleanCloud™, a new foam material made from carbon emissions, marking a shift away from petroleum-based resources. This innovation is the first of its kind in the footwear industry and follows four years of research and collaboration with partners LanzaTech and Borealis. CleanCloud™ aims to replace current EVA foam in On shoes, aligning with sustainability goals by capturing emissions from industrial processes. The initiative represents On's commitment to innovation and reducing greenhouse gas emissions, following its recent public listing on the NYSE.