On starts 2025 with record sales

(CONNECT) On AG has achieved record net sales of 726.6 million francs in the first quarter, as the global manufacturer of sports clothing, footwear and accessories reported in a press release. When compared with the previous year, this corresponds to growth of 43.0 percent. According to the company’s own assessment, this performance ahead of expectations is driven by its successful multi-channel strategy.

“We saw On’s exceptional momentum from 2024 continue into 2025, delivering strong top-line growth and margin widening in the first quarter, elevated further by product launches like the Cloud 6 and the Cloudsurfer 2,” said Martin Hoffmann, Co-CEO and CFO of On, in the press release. “We are thrilled to see that the continued growing strength of our DTC channel as well as improved operational execution across our supply chain have further contributed to a significant profitability expansion.”

On’s gross profit increased by 43.5 percent on the previous year to 435.3 million francs. Adjusted earnings before interest, taxes, depreciation and amortization was up 54.8 percent to 119.9 million francs. However, net income declined by 38.0 percent to 56.7 million francs.

For the year as a whole, On is expecting net sales growth on a constant currency basis of at least 28 percent. The adjusted EBITDA margin lies in the range of 16.5 percent to 17.5 percent. In the reporting quarter, this margin increased to 16.5 percent from 15.2 percent in the first quarter of 2024. ce/hs