On Holding Reports Adj. Profit In Q1; Net Sales Up 91.9%

On Holding AG (ONON) reported that its fourth quarter net loss narrowed to to 26.4 million Swiss francs from a loss of 187.0 million Swiss francs, prior year. Loss per share was 0.08 francs compared to a loss of 0.60 francs. Adjusted profit per class A share was 0.02 francs compared to a loss of 0.04 francs.

Net sales increased 91.9% to 366.8 million Swiss francs. Net sales through the direct-to-consumer sales channel increased 76.4% to 149.4 million francs. Net sales through the wholesale sales channel increased 104.3% to 217.3 million francs.

Compared to a supply constrained first quarter of 2022, On expects a net sales growth rate of 61% in the first quarter of 2023.

On expects to reach net sales of at least 1.7 billion Swiss francs for the full year 2023.

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