Sports products maker On Holding AG (ONON) reported Tuesday a loss in its second quarter compared to prior year's profit, despite higher net sales. Further, the company raised its outlook for fiscal 2025 adjusted EBITDA margin and net sales.
In the pre-market activity, On Holding shares were gaining around 12.5 percent to trade at $51.42.
In the second quarter, net loss was 40.9 million Swiss francs, compared to profit of 30.8 million francs a year ago.
Loss per Class A share was 0.12 franc, compared to profit of 0.09 franc last year.
Adjusted net loss was 29.7 million francs, compared to prior year's profit of 46.9 million francs. Adjusted loss per Class A share was 0.09 franc, compared to profit of 0.14 franc a year ago.
Operating profit, however, climbed to 92.8 million francs from 47.3 million francs a year earlier.
Net sales increased 32 percent to 749.2 million francs from 567.7 million francs last year. The sales growth was 38.2 percent on a constant currency basis.
Looking ahead, for fiscal 2025, the company now expects adjusted EBITDA margin in the range of 17.0 percent to 17.5 percent, compared to previously expected 16.5 percent to 17.5 percent.
Net sales are now expected to be at least 2.91 billion francs, higher than previously expected 2.86 billion francs.
Net sales are projected to be up at least 31 percent year-over-year on a constant currency basis, while previous estimate was a growth of at least 28 percent.
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