On posts growth in the first quarter

(CONNECT) On AG has reported net sales of 831.9 million Swiss francs for the first quarter of 2026. According to a statement from the global sportwear manufacturer based in Zurich, this represents an increase of 14.5 percent, or 26.4 percent on a constant currency basis. Furthermore, On has exceeded 800 million francs in quarterly net sales for the first time. Gross profit also rose by 22.8 percent to 534.4 million francs, whilst net profit increased by as much as 82.2 percent to 103.3 million francs (adjusted: 123.6 million francs), contributing to the “record first-quarter net sales and profitability”. Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) rose by 45.4 percent to 174.3 million francs.

“These results show the quality of On’s growth and the strength of the financial foundation we have built,” explained Martin Hoffmann, On’s outgoing CEO and CFO. “Since our IPO nearly five years ago, we have more than quadrupled our net sales, strengthened our premium positioning and built a financial profile that reflects the incredible ambition of the brand. The results we present today – highlighted by record net sales and a gross profit margin of 64.2% – demonstrates our unique ability to scale rapidly while expanding our profitability.”

Following this strong start, On is looking ahead to the remainder of the year with high confidence and expects a gross profit margin of at least 64.5 percent. On expects net sales growth of at least 23 percent year-over-year on a constant currency basis to a minimum of 3.51 billion francs. An EBITDA margin in the range of 19.5 to 20 percent is projected. ce/ww