On Holding AG reported fourth-quarter net sales of CHF 447.1 million, growing by 21.9 percent year-over-year (YoY) on a reported basis and over 31 percent on a constant-currency (CC) basis. The company said the strength and increasing awareness of the On brand drove record-high traffic to the brand’s website and retail stores worldwide, resulting in a 46.2 percent direct-to-consumer (DTC) share, the highest in company’s history.
Net loss increased 1.3 percent to CHF 26.8 million in the 2023 quarter, compared to a net loss of CHF 26.4 million in the 2022 quarter. Basic and diluted loss per share remained unchanged at CHF 0.08.
Adjusted EBITDA increased 16.3 percent to CHF 71.9 million in Q4, compared to CHF 61.8 million in the prior-year quarter and Adjusted EBITDA margin decreased to 16.1 percent of net sales, compared to 16.8 percent in the prior-year Q4 period.
Adjusted net loss decreased to CHF 16.3 million, or a loss of CHF 0.05 per share, in Q4, compared to net income of CHF 7.5 million, or CHF 0.02 earnings per share, in the prior-year quarter.
Image courtesy On Holding AG
See below for more detailed Q4 and full year coverage from SGB Media, including in-depth commentary from Co-CEO Martin Hoffman.
EXEC: On Holding Shares Take a Hit as Analysts Question 2024 Outlook
