On Holding AG (NYSE:ONON)

Q4 2024 On Holding AG Earnings Call Transcript

Mar 04, 2025 / 01:00PM GMT

Release Date Price: $50.63 (+5.81%)

Transcript

Key Points

Positve

On Holding AG (ONON) reported a strong constant currency growth rate of over 33%, reaching CHF2.32 billion in net sales for 2024.
The company achieved a gross profit margin of 60.6% and an adjusted EBITDA margin of 16.7%, indicating strong profitability.
On Holding AG expanded its D2C share by more than 3 percentage points, enhancing its ability to connect directly with consumers.
The brand's global awareness and popularity have increased significantly, with notable collaborations and awards, such as the Brand of the Year award by Footwear News.
The company successfully launched 19 new retail stores in iconic locations, boosting regional awareness and digital momentum.

Negative

Despite strong growth, On Holding AG faces macroeconomic uncertainties that could impact future performance.
The company experienced operational challenges in 2024, particularly in the first half of the year, affecting its full potential.
There is a need for continued investment in infrastructure and operational excellence to support long-term growth.
On Holding AG's apparel segment, while growing, is slightly behind its mid-term target of reaching 10% of total revenue.
The company anticipates potential incremental costs during the ramp-up phase of its fully-automated warehouse solution in Atlanta.

Operator

Thank you for standing by. My name is Jill, and I'll be a conference operator today. At this time, I would like to welcome everyone to the On Holding AG Q4 and fiscal year 2024 results call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session. (Operator Instructions)

I would now like to turn the conference over to Jerrit Peter, Head of Investor Relations. You may begin.

Jerrit Peter

On Holding AG - Head of Investor Relations

Good afternoon, good morning to our investor community. Thank you for joining on 2024 fourth quarter and full year earnings conference call and webcast. With me today on the call are On's Executive Co-Chairman and Co-Founder, David Allemann; CFO and Co-CEO, Martin Hoffmann; and Co-CEO, Marc Maurer.

Before we begin, I will briefly remind everyone that today's call will contain forward-looking statements within the meaning of the federal securities laws. These forward-looking statements reflect our current expectations and beliefs only

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