After strong numbers in the third quarter: On is again setting itself higher goals

The Swiss sporting goods supplier On Holding AG closed the third quarter of the 2022 financial year with strong growth in sales and profits and then once again raised its forecasts for the full year.

On Wednesday, the company said it had sales of 328.0 million Swiss francs (335.0 million euros) for the July-September period. This corresponded to an increase of 50.4 percent compared to the third quarter of the previous year.

On was able to increase significantly in all market regions: In North America, sales grew by 57.1 percent to 176.3 million Swiss francs, in Europe by 31.8 percent to 116.5 million Swiss francs and in the Asia-Pacific region by 85.2 percent to 24.2 million Swiss francs. In the rest of the world, sales of 11.0 million Swiss francs were more than twice as high as in the same period of the previous year (+150.0 percent).

Thanks to the strong sales growth, earnings before interest, taxes, depreciation and amortization (EBITDA) adjusted for special effects rose by 48.5 percent to 56.3 million Swiss francs. Net profit reached 20.6 million Swiss francs (21.1 million euros), exceeding the corresponding figure for the previous year by 58.8 percent.

In the first nine months of the current year, On was able to increase sales by 60.3 percent to 855.4 million Swiss francs. Net profit, which was 16.8 million Swiss francs in the same period of the previous year, jumped to 84.1 million Swiss francs.

In view of the “very successful” development since the beginning of the year, management has once again raised its forecasts for 2022 slightly. The sales target was increased from 1.1 to 1.125 billion Swiss francs, with EBITDA adjusted for special effects now being targeted at 148 million Swiss francs. Previously, 145 million Swiss francs had been promised.

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