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Overview
On Holding AG (symbol: ONON) is a premium performance sports brand that combines advanced performance technology, innovative design, and a global market approach to redefine the running experience. The company is renowned for its groundbreaking running shoe technology and signature cloudtec® system, a patented solution that enhances cushioning and energy return. Recognized by international sports awards and featured in globally respected publications, On has quickly established itself as an influential player in the athletic footwear and performance apparel sectors.
Core Business and Technology
At its core, On Holding AG designs and markets high-performance running shoes, apparel, and accessories. The company’s innovative cloudtec® system represents a fusion of technology and design, offering a unique solution that optimizes shock absorption and energy efficiency. Emphasizing a blend of contemporary aesthetics with functional performance, the brand focuses on delivering products aimed at both elite athletes and everyday runners, ensuring an enhanced and enjoyable athletic experience.
Business Model and Manufacturing
On operates on a business model that centers on design excellence and strategic partnerships. It does not engage in the direct manufacture of its products; instead, it collaborates with carefully selected third-party suppliers and contract manufacturers to translate its designs into high-quality running shoes and sports apparel. This approach allows the company to focus on innovation, technology integration, and superior design while maintaining flexibility in production and rapid scalability in global markets.
Global Market Presence
The company derives a significant portion of its revenue from the Americas, supplemented by robust operations in Europe, the Middle East, Africa, and the Asia-Pacific region. With a wide-reaching distribution network that includes specialty running stores and sports retailers, On has rapidly expanded its global footprint. Its strategic market entry, characterized by rapid brand adoption, illustrates how a clear value proposition and technological excellence can drive international market success.
Awards and Industry Recognition
On Holding AG has consistently attracted global attention through an array of prestigious awards and recognition from industry experts. The company has been honored for its performance and design, reinforcing the credibility of its pioneering cloudtec® technology and underscoring its operational excellence. Media coverage in authoritative sources further demonstrates its significant impact and established reputation in the competitive athletic footwear market.
Competitive Landscape
Within the dynamic world of sports technology and performance sportswear, On distinguishes itself through a clear focus on innovation and quality. While many competitors may concentrate on volumetric production or traditional design methods, On emphasizes advanced technology integration combined with minimalist design philosophy. This focus not only supports its rapid market expansion but also positions it as a unique player among athletic brands. Its strategic reliance on external manufacturing partnerships allows the company to remain agile and responsive to evolving market trends, underscoring its commitment to both technological innovation and operational efficiency.
Market Strategy and Investment Considerations
On Holding AG's approach to market strategy is founded on leveraging design innovation and technological advancements to capture a diverse customer base. The company’s alignment with global distribution networks, recognition from elite athletes, and consistent media presence contribute to a robust market positioning. By concentrating on a high-quality product offering that marries functionality with style, the brand addresses both performance and lifestyle segments without compromising on technical excellence.
Understanding the Value Proposition
For investors and financial analysts, On Holding AG represents an intriguing combination of innovative design, strategic global partnerships, and a strong brand narrative driven by technological breakthroughs. The logically segmented business model, which differentiates product design from manufacturing, enables it to efficiently manage resources and scale operations. This clear focus on creating a differentiated product with tangible technological benefits positions On as a significant contributor to the evolving landscape of performance sportswear, appealing to both the elite athlete and the dedicated enthusiast.
On Holding AG reported robust financial results for Q3 2022, achieving net sales of CHF 328 million, a 50.4% increase year-over-year, and for the first nine months, net sales reached CHF 855.4 million, up 60.3%. The Asia-Pacific region experienced significant growth of 85.2%. Despite challenges, including foreign exchange impacts and supply chain constraints, net income rose to CHF 20.6 million. The company raised its 2022 guidance to CHF 1.125 billion in net sales and CHF 148 million in adjusted EBITDA. On also highlighted innovative product launches and achievements in sustainability.
On, the Swiss performance sportswear brand, is set to release its third quarter 2022 financial results on November 16, 2022, before U.S. markets open. A conference call will be held at 8:00 AM ET on the same day, with options for international participants. The earnings call can be accessed via phone or a live webcast available on the company’s investor relations website. On continues to expand its presence in the sportswear market, focusing on innovation and sustainability.
On Holding AG (NYSE: ONON) released its 2021 Impact Progress Report, highlighting significant advances in sustainability initiatives. Key achievements include the launch of the first fully recyclable running shoe through the Cyclon program and a commitment to reduce emissions per unit of value-added by 55% by 2030. By the end of 2021, 53% of polyester and 63% of polyamide used were recycled, with 95% of cotton sourced sustainably. On also aims to enhance social impact through its 'Right to Run' program, partnering with 17 organizations to foster community engagement.
On Holding AG reported strong financial performance for Q2 2022, achieving net sales of CHF 291.7 million, a 66.6% increase year-over-year. The company's net income surged to CHF 49.1 million, and adjusted EBITDA rose to CHF 31.4 million. Despite a decrease in gross profit margin to 55.1%, On raised its full-year net sales guidance to at least CHF 1.1 billion and adjusted EBITDA to CHF 145 million. North American sales grew exceptionally by 102.5%. The company also made progress in sustainability with the launch of a recyclable running shoe.
Swiss sportswear brand On (NYSE: ONON) will release its Q2 2022 financial results on August 16, 2022, before U.S. markets open. A conference call for investors will be held at 8:00 AM ET on the same day. Participants can join via phone or webcast. On's innovative products continue to attract a growing global customer base. The company aims to provide high-performance running and outdoor apparel.
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.
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