Swiss performance sportswear brand On will update its reporting of net sales by geography. Specifically, the “Rest of World” region, which represents the Middle East, Africa and Latin America in previous reporting, will no longer be reported geographically. Instead, the Middle East and Africa will combine with Europe, referred to as Europe, Middle East & Africa (“EMEA”), and Latin America will combine with North America and be called Americas.
The company said the new reporting structure of net sales by geography has no impact on previously reported consolidated historical total net sales or financial results. Results will continue to be in Swiss francs (CHF) currency.
For the year ended December 31, 2022, CHF49.1 million in net sales revenues will be reallocated to the new EMEA and Americas regions, with CHF23.8 million moving to the EMEA region and CHF25.3 million moving to the new Americas region.
Under the new structure, EMEA had CHF378.1 million in revenue in 2022, representing 30.9 percent of global sales. The new Americas region had CHF763.8 million in net sales in 2022, representing 62.5 percent of sales, and the Asia-Pacific region had no change qt CHF80.2 million in net sales for 6.6 percent of total global sales volume.
