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Dec 31, 2024
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On Q4 2024 Earnings Report
On Holding AG reported strong Q4 2024 results with record revenue growth and profitability expansion.
Key Takeaways
On Holding AG delivered robust financial performance in Q4 2024, with net sales reaching CHF 606.6 million, marking a 35.7% year-over-year growth. The company achieved a record-high gross profit margin of 62.1%, driven by strong Direct-to-Consumer (DTC) sales and full-price demand. Net income surged to CHF 89.5 million, and adjusted diluted EPS improved to CHF 0.33. On continues its momentum with strong brand expansion and increased operational efficiency.
Net sales increased by 35.7% YoY to CHF 606.6 million.
Gross profit margin reached a record high of 62.1%.
Net income surged to CHF 89.5 million, a 434.6% increase.
Adjusted diluted EPS rose to CHF 0.33 from CHF (0.05) last year.
On
On
On Revenue by Segment
On Revenue by Geographic Location
Revenue by Segment
Wholesale Revenue
CapyFin.comDirect-to-Consumer Revenue
CapyFin.comShoes Revenue
CapyFin.comApparel Revenue
CapyFin.comAccessories Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.comAsia-Pacific Revenue
CapyFin.com Forward Guidance
On Holding AG expects continued strong growth in 2025, with projected net sales of at least CHF 2.94 billion and a gross profit margin of around 60.5%. Adjusted EBITDA margin is anticipated to reach between 17.0% and 17.5%.
Positive Outlook
- Anticipated net sales growth of at least 27% in 2025.
- Strong brand positioning driving global awareness and market share expansion.
- Operational efficiency gains expected to support margin expansion.
- Ongoing investment in product innovation and premium experience offerings.
- Continued expansion in Direct-to-Consumer sales to drive profitability.
Challenges Ahead
- Foreign exchange headwinds due to a strong US Dollar against CHF.
- Higher growth expected in the first half of the year due to prior-year comparison dynamics.
- Potential supply chain disruptions impacting production efficiency.
- Macroeconomic uncertainties may affect consumer demand.
- Increased operating expenses from store expansion and marketing investments.
Revenue & Expenses
Visualization of income flow from segment revenue to net income